FINANCIAL TRANSACTIONS WITH DYNAMIC PERSONAL ACCOUNT NUMBERS

• US 20070208671A1
• Filed: 12/30/2006
• Published: 09/06/2007
• Est. Priority Date: 03/15/2004
• Status: Active Grant

• Current Assignee: Fitbit, Inc. (Alphabet Inc.)
• Original Assignee: Qsecure Inc.
• Inventors: Brown, Kerry, Pariseau, David
• Granted Patent: US 7,580,898 B2
• Time in Patent Office: Days
• US Class Current: 705/65
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/3415 Cards acting autonomously as pay-media
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/1083 Counting of PIN attempts
• CPC Class Codes: G07F 7/12 Card verification

Abstract

A method for securing financial transactions involving payment cards includes associating a sixteen-digit personal account number (PAN) with a particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit. A four-digit expiration date (MMYY) associated with the PAN. A magnetic stripe on the payment card is encoded with the PAN for periodic reading by a magnetic card reader during a financial transaction. A table of cryptographic values associated with the PAN and the MMYY is stored on each user'"'"'s payment card during personalization by an issuing bank. A next financial transaction being commenced with the payment card is sensed. A cryptographic value from the table of cryptographic values is selected for inclusion as a dynamic portion of the user account number with the PAN when a next financial transaction is sensed. Any cryptographic value from the table of cryptographic values will not be used again in another financial transaction after being used once. The issuing bank authorizes the next financial transaction only if the PAN includes a correct cryptographic value in the user account number field.

Claims

1. A system for securing financial transactions with payment cards, comprising:

a payment card for use at least in card-not-present financial transactions with a merchant;

a variable part of a personal account number (PAN) disposed electronically in the payment card;

a user display for visually presenting said PAN on the payment card;

means for starting an electronic generation of a next version of the variable part of said PAN according to a cryptographic process, and for causing said PAN to be visually presented on the user display;

a timer connected to the means for starting, and providing a limit on the frequency at which a new next variable part of said PAN can be generated or retrieved; and

a payment infrastructure connected through said merchant and providing for financial transaction authorizations based at least on the validity of said current and next variable parts of said PAN according to said cryptographic process.

2. The system of claim 1, further comprising:

means for associating a sixteen-digit personal account number with a particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit.

3. The system of claim 1, further comprising:

means for associating a four-digit expiration date (MMYY) with said PAN.

4. The system of claim 1, further comprising:

means for encoding a magnetic stripe on said payment card with said PAN for periodic reading by a magnetic card reader during a card-present financial transaction with a merchant.

5. The system of claim 1, further comprising:

means for storing a table of cryptographic values associated with said PAN on each user'"'"'s payment card during personalization.

6. The system of claim 1, further comprising:

means for sensing a financial transaction being commenced with the payment card.

7. The system of claim 1, further comprising:

a timer disposed in the payment card, and triggered by a user input, and providing for a separation of a current financial transaction from a next, new financial transaction;

wherein, a current variable part of said PAN is presented on the user display only during a next, new financial transaction; and

wherein, a limit is imposed on how frequently a new, next variable part of said PAN can be electronically generated and presented on the user display.

8. The system of claim 1, further comprising:

means for selecting a cryptographic value from a table of cryptographic values for inclusion as a dynamic portion of said PAN when a next, new financial transaction is sensed.

9. The system of claim 8, further comprising:

means for repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once.

10. A method for securing payment card financial transactions, comprising:

associating a personal account number (PAN) with a particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit;

associating a four-digit expiration date (MMYY) with said PAN;

encoding a magnetic stripe on said payment card with said PAN for periodic reading by a magnetic card reader during a card-present financial transaction with a merchant;

storing a table of cryptographic values associated with said PAN on each user'"'"'s payment card during personalization;

sensing a financial transaction being commenced with the payment card;

separating a current financial transaction from a next, new financial transaction with a timer disposed in the payment card, and triggered by a user input;

presenting a current variable part of said PAN on the user display only during a current financial transaction;

presenting a new, next variable part of said PAN on the user of said PAN can be electronically generated and presented on the user display;

selecting a cryptographic value from a table of cryptographic values for inclusion as a dynamic portion of said PAN when a next, new financial transaction is sensed;

repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once; and

authorizing said next financial transaction only if said PAN includes a correct cryptographic value in said user account number field.

11. The method of claim 10, further comprising:

limiting the range of said four-digit expiration date to a range of forty-eight months and evenly allocating expiration months in the range to a population of users, such that said PAN and said MMYY combine to provide a greater number of unique identifiers for such users.

12. A secure financial transaction network for payment cards, comprising:

means for associating a personal account number (PAN) with a particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit;

means for encoding a magnetic stripe on said payment card with said PAN for periodic reading by a magnetic card reader during a financial transaction, wherein said PAN does not necessarily match another PAN presented on a user display disposed on the same payment card;

means for storing a table of cryptographic values associated with said PAN on each user'"'"'s payment card during personalization;

means for sensing a next financial transaction being commenced with said payment card;

means for selecting a cryptographic value from said table of cryptographic values for inclusion as a dynamic portion of said user account number with said PAN when a next financial transaction is sensed;

means for not repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once; and

means for authorizing by said issuing bank said next financial transaction only if said PAN includes a correct cryptographic value in said user account number field.

13. The network of claim 12, further comprising:

means for limiting the range of a four-digit expiration date (MMYY) to a range of forty-eight months and evenly allocating expiration months in the range to a population of users, such that said PAN and said MMYY combine to provide a greater number of unique identifiers for such users.

14. A secure payment card, comprising:

a particular payment card for use in financial transactions with merchants;

a personal account number (PAN) associated with the particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit;

a magnetic stripe disposed on the particular payment card with the PAN, and providing for periodic reading by a magnetic card reader during a financial transaction, wherein the PAN does not necessarily match another PAN presented on a user display that may be disposed on the same particular payment card;

a table of cryptographic values associated with the PAN on the particular payment card during its personalization;

a detector for sensing a next, new financial transaction being commenced with the particular payment card;

a cryptographic value selectable from the table of cryptographic values for inclusion as a dynamic portion of said user account number with said PAN when a next financial transaction is sensed in the preceding step;

means for not repeating the use of any cryptographic value from the table of cryptographic values in another financial transaction after being used once; and

means for proceeding with a next, new financial transaction only if the PAN includes a verified cryptographic value in said user account number field.