Electronic wallet management
First Claim
1. A structure for secured communication, the structure comprising:
- a token dataset including at least one compartment, each compartment corresponding to a financial institution account and configured to include a token secret, a token parameter, and an account balance, the token secret and the token parameter for use in authorizing a transaction with a financial institution; and
a transaction dataset configured to include a token secret and a token parameter corresponding to a transaction management system and configured to include a master key and at least one key reference, the master key and the at least one key reference for use in authentication with the transaction management system and for encrypting and decrypting communications with the transaction management system.
1 Assignment
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Accused Products
Abstract
A system (and a method) for electronic financial transactions includes at least of each of a sender having an electronic wallet, a recipient having an electronic wallet, a sending bank having a host application system and an authentication server, a receiving bank having a host application system and an authentication server, and a wallet management center with a host application system and an authentication server. The sender uses its electronic wallet to send an encrypted payment instruction directly to the electronic wallet of the recipient. The recipient can accept the payment by performing a second level encryption of the payment instruction for submission to the wallet management center for authentication. Once authenticated, the wallet management center immediately notifies the recipient and submits payment instructions for clearing by the corresponding sending and receiving banks. Payment authorization is authenticated directly by the sending bank without involvement of the wallet management center.
381 Citations
25 Claims
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1. A structure for secured communication, the structure comprising:
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a token dataset including at least one compartment, each compartment corresponding to a financial institution account and configured to include a token secret, a token parameter, and an account balance, the token secret and the token parameter for use in authorizing a transaction with a financial institution; and
a transaction dataset configured to include a token secret and a token parameter corresponding to a transaction management system and configured to include a master key and at least one key reference, the master key and the at least one key reference for use in authentication with the transaction management system and for encrypting and decrypting communications with the transaction management system. - View Dependent Claims (2, 3, 4)
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5. A method for facilitating an electronic payment between a sender and a recipient, the method comprising:
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receiving a recipient identification from a network;
receiving from the recipient a key reference and a second level ciphertext, the second level ciphertext including a first level ciphertext, the first level ciphertext including a recipient identification from the sender;
decrypting, using the key reference and a master key for the recipient, the second level ciphertext;
decrypting, using the key reference and a master key for the sender, and the first level ciphertext to identify the recipient identification from the sender; and
verifying the recipient identification from the network matches the recipient identification from the sender to authenticate the sender and the recipient. - View Dependent Claims (6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. In a transaction between a sender and a recipient, a method for accepting an electronic payment from the sender of the electronic payment, the method comprising:
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receiving an electronic payment instruction from an electronic wallet of the sender, the electronic payment instruction including a key reference corresponding to the transaction, a payment amount, and a first ciphertext, the first ciphertext including an identification of an electronic wallet of the recipient and an authorization code;
encrypting the received electronic payment instruction to generate a second ciphertext, the second ciphertext including the first ciphertext;
transmitting the identification of the electronic wallet of the recipient and the second ciphertext to a wallet management center; and
receiving acknowledgement from the wallet management center of successful authenication of the sender and the recipient, the authentication through verification of the transmitted identification of the electronic wallet of the recipient and the identification of the electronic wallet of the recipient in the first ciphertext. - View Dependent Claims (17, 18, 19)
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20. In a transaction between a sender and a recipient, a method for transmitting an electronic payment to a recipient of the electronic payment, the method comprising:
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deriving an encryption key from a master key and a key reference within an electronic wallet of the sender;
generating a ciphertext from the encryption key, the ciphertext comprising an encryption of an electronic wallet identification of the recipient, a payment amount, and a pointer to a sender bank account; and
transmitting a electronic payment instruction to an electronic wallet of the recipient, the electronic payment instruction including the ciphertext, the key reference, and the payment amount. - View Dependent Claims (21, 22, 23)
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24. A method of authorizing an electronic payment instruction between. a sender and a recipient, the method comprising:
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receiving from a transaction management system an authenticated payment instruction authenticating the sender and the recipient to a transaction, the authenticated payment instruction originating from an original payment instruction decrypted by the transaction management system, the original payment instruction including a key reference from the sender and a first level ciphertext, the first level ciphertext comprising a pointer to a recipient electronic wallet account and a second level ciphertext, the second level ciphertext comprising a payment amount and an authorization code from the sender;
verifying the authorization code within the payment instruction decrypted by the transaction management system; and
approving, in response to the authorization code being verified, the payment amount specified in the electronic payment instruction. - View Dependent Claims (25)
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Specification