METHOD AND SYSTEM FOR CONDUCTING SECURE PAYMENTS OVER A COMPUTER NETWORK
First Claim
1. A method of conducting a transaction involving a merchant over an electronic payment network, the method comprising:
- receiving data related to the transaction from the merchant;
computing a message authentication code based on the data related to the transaction;
placing the message authentication code in a portion of the discretionary data field of a standard payment card magnetic stripe track format to form a track image; and
transmitting the track image including the message authentication code, over the payment network, before or without first storing the message authentication code on a magnetic stripe of a payment card.
0 Assignments
0 Petitions
Accused Products
Abstract
A method is provided for conducting a financial transaction by a purchaser with a merchant having an acquirer bank, over a communications network. The method includes the steps of sending a first authorization request using a pseudo account number associated with a real account number to a service provider which forwards a second authorization request to the issuer using the real account number and preferably a pseudo acquirer code associated with the service provider such that the response to the second request is based on the real account number and sent back to the service provider who preferably forwards a response to the first request preferably to the “real” acquirer. A message authentication code is further provided which includes transaction data, and where the authorization request is formatted as a standard payment card track having one or more fields including a discretionary field in which the message authentication code is placed.
-
Citations
13 Claims
-
1. A method of conducting a transaction involving a merchant over an electronic payment network, the method comprising:
-
receiving data related to the transaction from the merchant;
computing a message authentication code based on the data related to the transaction;
placing the message authentication code in a portion of the discretionary data field of a standard payment card magnetic stripe track format to form a track image; and
transmitting the track image including the message authentication code, over the payment network, before or without first storing the message authentication code on a magnetic stripe of a payment card. - View Dependent Claims (2, 3, 4, 5, 6)
-
-
7. An apparatus for conducting a transaction involving a cardholder and merchant having a merchant device over an electronic payment network, the apparatus comprising:
-
a cardholder memory device containing at least a card-unique secret key;
a receiver module capable of receiving data from the merchant device related to the transaction;
a message authentication code calculator coupled to the receiver module and the cardholder memory device for calculating a message authentication code using at least the data related to the transaction received from the merchant device and the secret key;
a track image data formatter coupled to the message authentication code calculator for placing at least a portion of the message authentication code in a portion of the discretionary data field of a track image data formatted as a standard payment card magnetic stripe data track;
a transmitter coupled to the track image data formatter for transmitting the track image data formatted as a standard payment card magnetic stripe data track to the merchant device for subsequent transmission over the payment network before or without first storing the message authentication code on a magnetic stripe of a payment card. - View Dependent Claims (8, 9, 10, 11, 12, 13)
-
Specification