×

Method and system for generating a dynamic verification value

  • US 20050043997A1
  • Filed: 08/18/2003
  • Published: 02/24/2005
  • Est. Priority Date: 08/18/2003
  • Status: Active Grant
First Claim
Patent Images

1. A method for authenticating a payment service being used in a transaction comprising:

  • generating on a payment device a first verification value unique to the transaction wherein said first verification value is derived from data comprising a first data value and a second data value;

    communicating a payment record from the payment device to a point of sale terminal, wherein the payment record comprising the first verification value and payment data;

    communicating the payment record from the point of sale terminal to a service provider computer;

    generating a second verification value on the service provider computer, wherein the second verification value is generated solely from data residing on the service provider computer; and

    disapproving the transaction when the first verification value does not equal the second verification value.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×