Method & system for accelerating financial transactions
First Claim
1. A method for accelerating financial transactions initiated by a cardholder and a card, comprising the steps of [1] transmitting from said card to a financial transaction terminal, a combined purchase request message including a cryptographic authentication of said card to said financial transaction terminal;
- [2] responding by said financial transaction terminal to said purchase request message, with a terminal-initiated invoice message including a cryptographic authentication of said terminal to said card;
[3] responding by said card to said terminal-initiated invoice message, with a card acknowledgement message comprising a final authentication exchange including a purchase confirmation and a final authorization of said transaction; and
[4] charging said cardholder'"'"'s account after all authentication and acknowledgement steps succeed and after a card authority/financial intermediary reports that a proposed charge is accepted.
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Accused Products
Abstract
Improved, higher speed, security and privacy oriented financial protocols are disclosed for accelerating both “contactless” and “contact” smartcard payments at POS (Point Of Sale) terminals. This simplified protocol greatly improves the speed of secure smartcard transactions while preserving privacy and security. The present invention is adapted to optimize cardholder-initiated, card-based (or card-equivalent-based) transactions with POS terminals, payment machines, and the like. In addition to using contact or contactless smartcard formats, this invention may use infra-red (IR), Bluetooth, or other wireless communications techniques. The invention authenticates and verifies transactions between a card and a POS terminal (or other transactions terminal and/or destination transceiver). Also, the invention provides for cardholder initiation of financial transactions, ensuring that card contents cannot be surreptitiously read without the cardholder'"'"'s knowledge; this is crucial for wireless devices that might otherwise be remotely accessed by a rogue terminal.
42 Citations
12 Claims
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1. A method for accelerating financial transactions initiated by a cardholder and a card, comprising the steps of
[1] transmitting from said card to a financial transaction terminal, a combined purchase request message including a cryptographic authentication of said card to said financial transaction terminal; -
[2] responding by said financial transaction terminal to said purchase request message, with a terminal-initiated invoice message including a cryptographic authentication of said terminal to said card;
[3] responding by said card to said terminal-initiated invoice message, with a card acknowledgement message comprising a final authentication exchange including a purchase confirmation and a final authorization of said transaction; and
[4] charging said cardholder'"'"'s account after all authentication and acknowledgement steps succeed and after a card authority/financial intermediary reports that a proposed charge is accepted. - View Dependent Claims (3)
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2. A system for securing transactions using a card-based program executing on a card apparatus and a terminal-based program executing on a terminal apparatus to effectuate a bilateral communications dialogue therebetween, the system comprising:
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[1] said card apparatus including said card-based program executing to initiate a purchase request message comprising a combined purchase request message including a cryptographic authentication of said card to said terminal;
[2] said terminal apparatus including said terminal-based program executing in response to said purchase request message by transmitting an invoice message including a cryptographic authentication of said terminal to said card; and
[3] at least one card authority/financial intermediary.
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- 4. A card apparatus for generating and transmitting a card-initiated purchase request message to a financial transaction terminal, wherein said purchase request message includes an identification challenge to said financial transaction terminal.
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7. A terminal apparatus for generating and transmitting an invoice message in response to a card-initiated purchase request message including a terminal identification challenge, wherein said invoice message includes a response to said terminal identification challenge and further includes an identification challenge to said card.
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8. A system for card-based initiation of a purchase request including an identification challenge to a financial transaction terminal, comprising at least one card apparatus, at least one financial transaction terminal, at least one method for conducting financial transactions, and at least one card authority/financial intermediary.
Specification