METHOD AND SYSTEM FOR SECURED TRANSACTIONS

• US 20070276765A1
• Filed: 05/30/2007
• Published: 11/29/2007
• Est. Priority Date: 09/07/2004
• Status: Abandoned Application

• Current Assignee: Semtek Innovative Solutions Incorporated (Verifone Systems, Inc.)
• Original Assignee: Semtek Innovative Solutions Incorporated (Verifone Systems, Inc.)
• Inventors: Mos, Robert, von Mueller, Clay, Yale, Scott, Hazel, Patrick
• Application Number:
  US11/755,585
• Publication Number:
  US 20070276765A1
• Time in Patent Office: Days
• US Class Current: 705/71
• CPC Class Codes: G06F 21/72 in cryptographic circuits
• CPC Class Codes: G06F 21/83 input devices, e.g. keyboards, mice or controllers thereof
• CPC Class Codes: G06K 7/082 using inductive or magnetic sensors
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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 20/3552 Downloading or loading of personalisation data
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3823 combining multiple encryption tools for a transaction
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/40975 using encryption therefor
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07C 9/22 in combination with an identity check of the pass holder
• CPC Class Codes: G07F 19/206 Software aspects at ATMs
• CPC Class Codes: G07F 7/084 Additional components relating to data transfer and storing, e.g. error detection, self-diagnosis
• CPC Class Codes: G07F 7/0873 Details of the card reader
• CPC Class Codes: G07F 7/0886 the card reader being portable for interacting with a POS or ECR in realizing a payment transaction
• 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 7/1016 : Devices or methods for securing the PIN and other transaction-data, e.g. by encryption arrangements for secret communication, see H04L9/00
• CPC Class Codes: H04L 2209/56 : Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 2209/80 : Wireless
• CPC Class Codes: H04L 9/0891 : Revocation or update of secret information, e.g. encryption key update or rekeying
• CPC Class Codes: H04L 9/3297 : involving time stamps, e.g. generation of time stamps

Abstract

Systems and methods for performing settlement of token access transactions are provided. In one embodiment, the invention provides for batch processing bank card transactions, including receiving transaction records for a plurality of bank card transactions, wherein at least some of the transaction records include encrypted token information; determining whether the transaction records contain encrypted token information; decrypting the encrypted token information for a transaction record that is determined to have encrypted token information; and providing clear text token information obtained by decrypting the encrypted token information for a transaction record for transaction settlement.

Claims

1. A method for updating a security feature in a card reader terminal, the method comprising:

retrieving information encoded on a card;

determining based on the retrieved information that the card contains an encoded command; and

updating an operational parameter of the terminal in response to the encoded command.

2. The method of claim 1, wherein the updating step comprises turning on or off an encryption function of the terminal.

3. The method of claim 1, wherein the operational parameter comprises a terminal ID, a merchant ID, and a sequence number.

4. The method of claim 3, further comprising:

sending the updated operational parameter to a remote server.

5. The method of claim 1, wherein the updating step comprises:

generating a new key to encode outgoing data;

encoding the new key with a current key used by the terminal; and

transmitting the encoded new key to a remote server.

6. The method of claim 5, further comprising:

receiving confirmation from remote the sever that the encoded new key has been decoded and stored; and

using the new key to encode data in future transactions.

7. The method of claim 1, wherein the updating step comprises:

requesting a new key from a remote server for use in encoding outgoing data; and

receiving an encoded new key from the server.

8. The method of claim 7, further comprises:

decoding the encoded new key; and

using the new key to encode outgoing data in future transactions.

9. The method of claim 1, wherein the updating step comprises:

retrieving a new key from the card for use in encoding outgoing data;

encoding the new key with a current key used by the terminal; and

transmitting the encoded new key to a remote server.

10. The method of claim 9, further comprising:

receiving confirmation from remote the sever that the encoded new key has been decoded and stored; and

using the new key to encode data in future transactions.

11. The method of claim 5, wherein the encoding step further comprises formatting the encoded new key in a data packet such that the data packet has a data format similar to a conventional transactional data format.

12. The method of claim 9, wherein the encoding step further comprises formatting the encoded new key in a data packet such that the data packet has a data format similar to a conventional transactional data format.