System for increasing the security of credit and debit cards transactions

• US 20060186195A1
• Filed: 02/22/2005
• Published: 08/24/2006
• Est. Priority Date: 02/22/2005
• Status: Active Grant

• Current Assignee: Advanced Transactions, LLC (IP Investments Group LLC)
• Original Assignee: Quake! LLC
• Inventors: Gray, R. O'Neal
• Granted Patent: US 7,500,602 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/347 Passive cards
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
• CPC Class Codes: G07F 7/1075 PIN is checked remotely

Abstract

A system for facilitating a commercial transaction by a consumer includes a card or electronic storage device which includes a first number for identifying a financial account of the consumer and a second number, related to the first number, for use in authorizing a transaction involving the financial account of the consumer.

Claims

1. A system for facilitating a commercial transaction by a consumer including:

a card, said card including a first number for identifying a financial account of the consumer; and

said card including a second number, related to said first number, for use in authorizing a transaction involving the financial account of the consumer.

2. The system of claim 1 wherein the first number is visible on said card and said second number is not visible.

3. The system of claim 1 wherein said card includes a magnetic storage media and said second number is stored on said magnetic storage media.

4. The system of claim 3 wherein said second number is encrypted.

5. A system for facilitating a commercial transaction by a consumer including:

an electronic storage device for use in the transaction, said storage device including a stored first number for identifying a financial account of the consumer; and

said storage device including a stored second number, related to said first number, for use in authorizing a transaction involving the financial account of the consumer.

6. The system of claim 5 wherein said second number is stored in an encrypted format.