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SYSTEMS, METHODS, AND COMPUTER READABLE MEDIA FOR CONDUCTING A TRANSACTION USING CLOUD BASED CREDENTIALS

  • US 20130275307A1
  • Filed: 04/15/2013
  • Published: 10/17/2013
  • Est. Priority Date: 04/13/2012
  • Status: Active Grant
First Claim
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1. A method for conducting an electronic transaction, the method comprising:

  • initiating an electronic transaction between a mobile device and a point of sale (POS) reader device;

    applying at least a user identifier that is associated with a user of the mobile device and shared secret data as inputs to a cryptographic function in the mobile device, wherein the shared secret data is a key or password shared by both the user and an issuer server;

    inserting the output of the cryptographic function into legacy transaction formatted data;

    wirelessly providing the legacy transaction formatted data to the POS reader device via the electronic transaction;

    forwarding, from the POS reader device, the legacy transaction formatted data to the issuer server;

    processing, at the issuer server, the legacy transaction formatted data to verify the user identifier and request authorization for the electronic transaction;

    sending, to the POS reader device, a notification message that indicates that the electronic transaction is authorized; and

    conducting, at the POS reader device, the electronic transaction upon receipt of the notification message.

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