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Secure electronic funds transfer from telephone or unsecured terminal

  • US 5,371,797 A
  • Filed: 01/19/1993
  • Issued: 12/06/1994
  • Est. Priority Date: 01/19/1993
  • Status: Expired due to Term
First Claim
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1. In a system for processing a financial transaction from a particular customer of the type requiring provision to a network security transaction processor of an N character encrypted PIN, N being a positive integer greater than one, and an encryption key, wherein said N character encrypted PIN is a representation of a PIN associated with a particular account and a particular customer that was encrypted using said encryption key, the improvement comprising:

  • means for establishing a data communications link between an unsecured point of sale terminal device and a secure transaction processor wherein said point of sale terminal device is operable to provide data representing an M character first portion of said N character encrypted PIN, M being a positive integer less than N, and a record key string associated with said particular customer;

    said secure transaction processor including;

    first memory means for storing an account record including said record key string associated with said particular account, an N-M character second portion of said encrypted PIN, and said encryption key in a record;

    processor means connected to said memory means and to said data communications link for;

    accessing said account record in response to receipt of said record key string, andcombining said M character first portion and said N-M character second portion of said encrypted PIN to reproduce said N character encrypted PIN; and

    means for providing said N character encrypted PIN and said encryption key to said network security transaction processor.

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