SYSTEMS AND METHODS FOR PERFORMING WIRELESS FINANCIAL TRANSACTIONS

• US 20090216681A1
• Filed: 08/22/2008
• Published: 08/27/2009
• Est. Priority Date: 02/26/2008
• Status: Active Grant

• Current Assignee: Battelle Energy Alliance LLC (Battelle Memorial Institute)
• Original Assignee: Battelle Energy Alliance LLC (Battelle Memorial Institute)
• Inventors: McCown, Steven H.
• Granted Patent: US 8,214,298 B2
• Time in Patent Office: Days
• US Class Current: 705/75
• CPC Class Codes: G06Q 20/1235 with control of digital rights management [DRM]
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• 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: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 2209/603 Digital right managament [DRM]
• CPC Class Codes: H04L 2209/805 Lightweight hardware, e.g. radio-frequency identification [RFID] or sensor
• CPC Class Codes: H04L 9/3247 involving digital signatures

Abstract

A secure computing module (SCM) is configured for connection with a host device. The SCM includes a processor for performing secure processing operations, a host interface for coupling the processor to the host device, and a memory connected to the processor wherein the processor logically isolates at least some of the memory from access by the host device. The SCM also includes a proximate-field wireless communicator connected to the processor to communicate with another SCM associated with another host device. The SCM generates a secure digital signature for a financial transaction package and communicates the package and the signature to the other SCM using the proximate-field wireless communicator. Financial transactions are performed from person to person using the secure digital signature of each person'"'"'s SCM and possibly message encryption. The digital signatures and transaction details are communicated to appropriate financial organizations to authenticate the transaction parties and complete the transaction.

Claims

1. A secure computing module for operable coupling to a host device, comprising:

a processor for performing secure processing operations;

a host interface for operably coupling the processor to the host device;

a memory operably coupled to the processor, wherein the processor logically isolates at least some of the memory from access by the host device; and

a proximate-field wireless communicator operably coupled to the processor and configured for communication with another secure computing module associated with another host device when within a proximate-field range of the other secure computing module;

wherein the secure computing module is configured to generate a secure digital signature for a financial transaction package and communicate the financial transaction package and the secure digital signature to the other secure computing module using the proximate-field wireless communicator.

2. The secure computing module of claim 1, wherein the secure computing module is further configured to direct the host device to communicate the financial transaction package and the secure digital signature to a financial organization associated with a user of the host device.

3. The secure computing module of claim 1, wherein the secure computing module is further configured to add the secure digital signature to a second financial transaction package received from the other secure computing module.

4. The secure computing module of claim 1, wherein the secure digital signature comprises a secure hash function performed using a secret key on a message comprising financial transaction details and a transaction number identifier.

5. The secure computing module of claim 1, wherein the secure computing module is further configured to encrypt the financial transaction package, the secure digital signature, or combination thereof in isolation from the host device and prior to communication through the proximate-field wireless communicator or the host device.

6. The secure computing module of claim 5, wherein the encryption is performed with a symmetric encryption process using a secret key known by the secure computing module and a financial organization associated with a user of the host device.

7. The secure computing module of claim 5, wherein the encryption is performed with an asymmetric encryption process using a public key associated with another user of the other host device.

8. The secure computing module of claim 5, wherein the encryption is performed with an asymmetric encryption process using a public key associated with a financial organization.

9. The secure computing module of claim 1, wherein the secure computing module is further configured to decrypt the financial transaction package received from the other secure computing module.

10. The secure computing module of claim 1, wherein the proximate-field wireless communicator is configured to communicate using available radio frequencies, infrared frequencies, 802.1 a/b/g/n type wireless connections, Bluetooth, RFID, WiFi, WiMax, or combinations thereof.

11. The secure computing module of claim 1, wherein the secure computing module is configured for detachable coupling with the host device.

12. The secure computing module of claim 1, wherein the secure computing module is operably integrated within the host device.

13. The secure computing module of claim 1, wherein the host device selected from the group consisting of cell phones, smartphones, pagers, Personal Digital Assistants, handheld computing platforms, wrist-worn computing systems, mobile computing systems, and desktop computing systems.

14. A method of performing a financial transaction, comprising:

determining financial transaction details for the financial transaction;

signing the financial transaction details with a buyer'"'"'s secure digital signature;

signing the financial transaction details with a seller'"'"'s secure digital signature, wherein the financial transaction details, the buyer'"'"'s secure digital signature, and the seller'"'"'s secure digital signature comprise a financial transaction package;

communicating the financial transaction package between a buyer'"'"'s wireless communication device and a seller'"'"'s wireless communication device via a proximate-field wireless communication channel;

communicating the financial transaction package to a seller'"'"'s financial organization via a cellular communication channel;

communicating the financial transaction package from the seller'"'"'s financial organization to a buyer'"'"'s financial organization;

from the seller'"'"'s financial organization;

verifying the seller'"'"'s secure digital signature and the financial transaction details; and

sending a seller approval to the buyer'"'"'s financial organization; and

from the buyer'"'"'s financial organization;

verifying the buyer'"'"'s secure digital signature and the financial transaction details;

sending a buyer approval to the seller'"'"'s financial organization; and

performing a fund transfer from the buyer'"'"'s financial organization to the seller'"'"'s financial organization.

15. The method of claim 14, further comprising preventing the performing the fund transfer when the verifying the buyer'"'"'s secure digital signature and the financial transaction details is not successful or when the verifying the seller'"'"'s secure digital signature and the financial transaction details is not successful.

16. The method of claim 14, further comprising encrypting the financial transaction details, the buyer'"'"'s secure digital signature, the seller'"'"'s secure digital signature, or combinations thereof prior to at least one of the communicating acts.

17. The method of claim 14, wherein determining the financial transaction details comprise determining a transaction amount, a buyer'"'"'s credentials and a seller'"'"'s credentials.

18. The method of claim 14, wherein signing the financial transaction details with the buyer'"'"'s secure digital signature comprises performing secure hash function using a buyer'"'"'s secret key on a message comprising the financial transaction details and a buyer'"'"'s transaction number identifier.

19. The method of claim 14, wherein signing the financial transaction details with the seller'"'"'s secure digital signature comprises performing secure hash function using a seller'"'"'s secret key on a message comprising the financial transaction details and a seller'"'"'s transaction number identifier.

20. The method of claim 14, wherein communicating via the proximate-field wireless communication channel comprises communicating using available radio frequencies, infrared frequencies, 802.1 a/b/g/n type wireless connections, Bluetooth, RFID, WiFi, WiMax, or combinations thereof.

21. The method of claim 14, further comprising communicating, via the cellular communication channel, a transaction results to at least one of the buyer'"'"'s wireless communication device or the seller'"'"'s wireless communication device.

22. A method of performing a financial transaction, comprising:

determining financial transaction details for the financial transaction;

signing the financial transaction details with a buyer'"'"'s secure digital signature;

signing the financial transaction details with a seller'"'"'s secure digital signature, wherein the financial transaction details, the buyer'"'"'s secure digital signature, and the seller'"'"'s secure digital signature comprise a financial transaction package;

communicating the financial transaction package between a buyer'"'"'s wireless communication device and a seller'"'"'s wireless communication device via a proximate-field wireless communication channel;

communicating the financial transaction package to a buyer'"'"'s financial organization via a cellular communication channel;

communicating the financial transaction package from the buyer'"'"'s financial organization to a seller'"'"'s financial organization;

from the seller'"'"'s financial organization;

verifying the seller'"'"'s secure digital signature and the financial transaction details; and

sending a seller approval to the buyer'"'"'s financial organization; and

from the buyer'"'"'s financial organization;

verifying the buyer'"'"'s secure digital signature and the financial transaction details;

sending a buyer approval to the seller'"'"'s financial organization; and

performing a fund transfer from the buyer'"'"'s financial organization to the seller'"'"'s financial organization.

23. The method of claim 22, further comprising preventing the performing the fund transfer when the verifying the buyer'"'"'s secure digital signature and the financial transaction details is not successful or when the verifying the seller'"'"'s secure digital signature and the financial transaction details is not successful.

24. The method of claim 22, further comprising encrypting the financial transaction details, the buyer'"'"'s secure digital signature, the seller'"'"'s secure digital signature, or combinations thereof prior to at least one of the communicating acts.

25. The method of claim 22, wherein determining the financial transaction details comprise determining a transaction amount, a buyer'"'"'s credentials and a seller'"'"'s credentials.

26. The method of claim 22, wherein signing the financial transaction details with the buyer'"'"'s secure digital signature comprises performing a secure hash function using a buyer'"'"'s secret key on a message comprising the financial transaction details and a buyer'"'"'s transaction number identifier.

27. The method of claim 22, wherein signing the financial transaction details with the seller'"'"'s secure digital signature comprises performing a secure hash function using a seller'"'"'s secret key on a message comprising the financial transaction details and a seller'"'"'s transaction number identifier.

28. The method of claim 22, wherein communicating via the proximate-field wireless communication channel comprises communicating using available radio frequencies, infrared frequencies, 802.1 a/b/g/n type wireless connections, Bluetooth, RFID, WiFi, WiMax, or combinations thereof.

29. The method of claim 22, further comprising communicating, via the cellular communication channel, a transaction results to at least one of the buyer'"'"'s wireless communication device or the seller'"'"'s wireless communication device.

30. A method of performing a financial transaction, comprising:

determining financial transaction details for the financial transaction;

signing the financial transaction details with a buyer'"'"'s secure digital signature;

signing the financial transaction details with a seller'"'"'s secure digital signature, wherein the financial transaction details, the buyer'"'"'s secure digital signature, and the seller'"'"'s secure digital signature comprise a financial transaction package;

communicating the financial transaction package between a buyer'"'"'s cellular communication device and a seller'"'"'s Internet site;

communicating the financial transaction package to a buyer'"'"'s financial organization;

communicating the financial transaction package to a seller'"'"'s financial organization;

from the seller'"'"'s financial organization;

verifying the seller'"'"'s secure digital signature and the financial transaction details; and

sending a seller approval to the buyer'"'"'s financial organization; and

from the buyer'"'"'s financial organization;

verifying the buyer'"'"'s secure digital signature and the financial transaction details;

sending a buyer approval to the seller'"'"'s financial organization; and

performing a fund transfer from the buyer'"'"'s financial organization to the seller'"'"'s financial organization.

31. The method of claim 30, wherein communicating the financial transaction package between the buyer'"'"'s cellular communication device and the seller'"'"'s Internet site comprises sending the financial transaction package over a cellular communication channel.

32. The method of claim 30, wherein communicating the financial transaction package between the buyer'"'"'s cellular communication device and the seller'"'"'s Internet site comprises:

communicating the financial transaction package between the buyer'"'"'s cellular communication device and a computer operably coupled to the buyer'"'"'s cellular communication device; and

communicating the financial transaction package between the computer and the seller'"'"'s Internet site over the Internet.

33. A system for performing secure financial transactions, comprising

a first host device associated with a buyer and including a first secure computing module operably coupled thereto, the first secure computing module configured to:

generate a buyer'"'"'s secure digital signature for a financial transaction package; and

communicate the financial transaction package and the buyer'"'"'s secure digital signature to a second secure computing module when within a proximate-field range of the second secure computing module; and

a second host device associated with a seller and including the second secure computing module operably coupled thereto, the first computing module configured to;

generate a seller'"'"'s secure digital signature for the financial transaction package; and

communicate the financial transaction package and the seller'"'"'s secure digital signature to the first secure computing module when within the proximate-field range of the first secure computing module.