USING A FINANCIAL INSTITUTION BASED ACCOUNT FOR ULTRA-LOW LATENCY TRANSACTIONS

• US 20120143763A1
• Filed: 10/28/2009
• Published: 06/07/2012
• Est. Priority Date: 10/28/2009
• Status: Abandoned Application

• Current Assignee: Hewlett Packard Enterprise Development LP (Hewlett-Packard Enterprise Company)
• Original Assignee: Hewlett Packard Enterprise Development LP (Hewlett-Packard Enterprise Company)
• Inventors: Karp, Alan, Li, Jun
• Application Number:
  US13/384,761
• Publication Number:
  US 20120143763A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• 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

Abstract

A system and method is illustrated for a reader to receive account data associated with an account managed by a financial institution, the account to be accessed to pay an amount associated with an ultra-low latency transaction. The system and method may also include a receiver to receive an instruction authorizing completion of the ultra-low latency transaction, the instruction generated based upon a comparison of the account data to an entry in a list that includes a plurality of account data. Additionally, the system and method may include a mechanism to allow completion of the ultra-low latency transaction.

Claims

1. A system comprising:

a reader to receive account data associated with an account managed by a financial institution, the account to be accessed to pay an amount associated with an ultra-low latency transaction;

a receiver to receive an instruction authorizing completion of the ultra-low latency transaction, the instruction generated based upon a comparison of the account data to an entry in a list that includes a plurality of account data; and

a mechanism to allow completion of the ultra-low latency transaction.

2. The system of claim 1, wherein the reader is at least one of a magnetic stripe reader, a Radio Frequency Identifier (RFID) tag reader, or a reader that is capable of reading a microchip storage on a portable device.

3. The system of claim 1, wherein the account data includes at least one of a credit card account number, a debit card account number, an account holder name associated with an account number, or an expiration date associated with an account number.

4. The system of claim 3, wherein the account data is registered with the system before it is received by the reader.

5. The system of claim 1, further comprising:

an additional reader to receive the account data associated with the account managed by the financial institution;

a processor to compare the account data to the entry in the list that includes the plurality of account information; and

a transmitter to transmit the account data and an identifier, the identifier to identify a mechanism used to complete the ultra-low latency transaction.

6. The system of claim 5, wherein the reader, the receiver, and the entry mechanism reside on an entry gate of a transit system, and the additional reader, the processor, and the transmitter reside on an exit gate of the transit system.

7. A system comprising:

a reader to receive an account data associated with an account managed by a financial institution, the account to be accessed to pay for an ultra-low latency transaction;

a processor to compare the account data to an entry in a list that includes account data;

a deletion module to delete an entry in the list, the entry deleted based upon the comparison of the account data to the entry in the list that includes account data; and

a mechanism to authorize completion of the ultra-low latency transaction based upon the comparison of the account data and the entry in the list.

8. The system of claim 7, further comprising:

an additional reader to receive the account data associated with the account managed by the financial institution; and

a transmitter to transmit the account data and an identifier, the identifier to identify an exit mechanism used to complete the ultra-low latency transaction.

9. The system of claim 7, wherein the list is a white list.

10. The system of claim 7, wherein the reader, the processor, the deletion module, and access mechanism reside on a first gate, and the additional reader and the transmitter reside on a second gate of a transit system.

11. A system comprising:

a reader to receive a digital certificate associated with an account managed by a financial institution, the account to be accessed to pay for an ultra-low latency transaction;

a processor to verify data relating to the account managed by the financial institution; and

an access mechanism to authorize completion of the ultra-low latency transaction based upon the verified data.

12. The system of claim 11, wherein:

the reader receives the digital certificate;

the processor generates a further digital certificate through the use of the digital certificate, a transit server identifier, and a gate identifier; and

a writer to write the further digital certificate to a device.

13. The system of claim 11, wherein:

the reader receives a further digital certificate generated, in part, based upon the digital certificate, a transit server identifier, and a gate identifier;

the processor generates an added digital certificate through the use of the digital certificate, the transit server identifier, the gate identifier, and a transaction identifier; and

a writer to write the added digital certificate to a device.

14. The system of claim 11, wherein:

the reader receives a further digital certificate generated, in part, based upon the digital certificate, an account data associated with the account managed by the financial institution, a transit server identifier, and a nonce;

the processor generates an added digital certificate generated, in part, through a use of the transit server identifier, the further digital certificate, a transaction identifier, and a gate identifier; and

a writer to write the added digital certificate to a device.

15. The system of claim 14, further comprising:

an additional reader to receive another digital certificate generated, in part, through the use of the account number, the added digital certificate, and another nonce;

an additional processor to generate a final digital certificate generated, in part, through a use of the digital certificate, the transit server identifier, and the gate identifier; and

an additional writer to write the final digital certificate to a device.