Value transfer system

• US 5,440,634 A
• Filed: 08/16/1993
• Issued: 08/08/1995
• Est. Priority Date: 10/16/1991
• Status: Expired due to Term

• Current Assignee: Mondex International Ltd. (MasterCard Incorporated)
• Original Assignee: Jonhig Limited
• Inventors: Jones, Timothy L., Higgins, Graham R.
• Primary Examiner(s): Gregory, Bernarr E.
• Application Number:
  US08/075,567
• Time in Patent Office: 722 Days
• Field of Search: 380/4, 380/9, 380/21, 380/30, 380/43, 380/49, 380/50, 380/23-25, 235/379, 235/380
• US Class Current: 705/67
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/3676 Balancing accounts
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/40975 using encryption therefor
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A plurality of electronic purses communicate with each other to transfer values in transactions off-line from a main computer. A transfer message protocol of a transaction between electronic purses includes a commitment message to constitute a proof of posting. This allows interruption of a transaction before the value message itself is set. Escrow type payments and batch processing are facilitated.

Claims

1. A value transfer system comprising:

a computer;

a plurality of electronic purses;

exchange devices associated with the electronic purses through which the purses communicate with each other to transfer value in transactions which are off-line from the computer; and

,

microprocessors respectively contained in the electronic purses or associated exchange devices, said microprocessors being programmed to effect transactions between a pair of purses including a sending purse which sends value and a receiving purse which receives value, wherein each transaction includes at least the microprocessor implemented processes of (a) the receiving purse or an exchange device associated with the receiving purse sending a requested value message denoting a request to receive value, (b) the sending purse or the exchange device associated with the sending purse creating a value message responsive to the requested value message sent by the receiving purse or the exchange device associated with the receiving purse, (c) the sending purse or the exchange device associated with the sending purse creating and storing a commitment message which signifies commitment of the value requested by the request value message sent by the receiving purse or the exchange device associated with the receiving purse, (d) the sending purse or the exchange device associated with the sending purse sending the commitment message to the receiving purse or the exchange device associated with the receiving purse, (e) the sending purse or the exchange device associated with the sending purse sending the value message to the receiving purse or the exchange device associated with the receiving purse, and (f) the receiving purse or the exchange device associated with the receiving purse receiving and processing the value message.

2. A value transfer system as claimed in claim 1, wherein each purse has a store which is a log of transactions, the commitment message being stored in the log of the sending purse upon creation and being stored in the log of the receiving purse upon reception.

3. A value transfer system as claimed in claim 2, wherein the microprocessors are programmed to provide each transaction a unique identifier R specific to the receiving purse, wherein the requested value message includes the transaction identifier R, wherein the value message includes information VR including a value V to be transferred and the transaction identifier R, and wherein the commitment message includes information PR where P includes the value V and a signifier which signifies the message as a commitment message.

4. A value transfer system as claimed in claim 3, wherein the microprocessors are programmed to employ an asymmetrical cryptographic system having different public and secret keys and each purse has stored therein at least a public key of the system.

5. A value transfer system as claimed in claim 4, wherein each purse stores data signed in the cryptographic system by the computer with a global secret encryption key, the signed data thereby being electronically certified, and the microprocessors are programmed to effect each transaction by checking certified purse data using the global public key.

6. A value transfer system as claimed in claim 5, wherein a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that microprocessor of the other of the receiving purse and the sending purse, wherein the purse of the second microprocessor includes an encryption key for a symmetrical cryptographic system and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the encryption key of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the encryption key.

7. A value transfer system as claimed in claim 4, wherein each purse has stored therein a unique key pair including a public key and a secret key in the cryptographic system and the microprocessors are programmed to effect transmission of transaction data as encrypted and decrypted data using the key pairs.

8. A value transfer system as claimed in claim 7, in which in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that of a second microprocessor of the other of the receiving purse and the sending purse, and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the secret key of the key pair of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the public key of the key pair of the purse of the second microprocessor.

9. A value transfer system as claimed in claim 2, wherein the microprocessors are programmed to employ an asymmetrical cryptographic system having different public and secret keys and each purse has stored therein at least a public key of the system.

10. A value transfer system as claimed in claim 9, wherein each purse stores data signed in the cryptographic system by the computer with a global secret encryption key, the signed data thereby being electronically certified, and the microprocessors are programmed to effect each transaction by of checking certified purse data using the global public key.

11. A value transfer system as claimed in claim 10, wherein a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that microprocessor of the other of the receiving purse and the sending purse, wherein the purse of the second microprocessor includes an encryption key for a symmetrical cryptographic system and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the encryption key of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the encryption key.

12. A value transfer system as claimed in claim 9, wherein each purse has stored therein a unique key pair including a public key and a secret key in the cryptographic system and the microprocessors are programmed to effect transmission of transaction data as encrypted and decrypted data using the key pairs.

13. A value transfer system as claimed in claim 12, in which in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that of a second microprocessor of the other of the receiving purse and the sending purse, and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the secret key of the key pair of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the public key of the key pair of the purse of the second microprocessor.

14. A value transfer system as claimed in claim 1, wherein the microprocessors are programmed to provide each transaction a unique identifier R specific to the receiving purse, wherein the requested value message includes the transaction identifier R, wherein the value message includes information VR including a value V to be transferred and the transaction identifier R, and wherein the commitment message includes information PR where P includes the value V and a signifier which signifies the message as a commitment message.

15. A value transfer system as claimed in claim 14, wherein the microprocessors are programmed to employ an asymmetrical cryptographic system having different public and secret keys and each purse has stored therein at least a public key of the system.

16. A value transfer system as claimed in claim 15, wherein each purse stores data signed in the cryptographic system by the computer with a global secret encryption key, the signed data thereby being electronically certified, and the microprocessors are programmed to effect each transaction by checking certified purse data using the global public key.

17. A value transfer system as claimed in claim 16, wherein a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that microprocessor of the other of the receiving purse and the sending purse, wherein the purse of the second microprocessor includes an encryption key for a symmetrical cryptographic system and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the encryption key of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the encryption key.

18. A value transfer system as claimed in claim 15, wherein each purse has stored therein a unique key pair including a public key and a secret key in the cryptographic system and the microprocessors are programmed to effect transmission of transaction data as encrypted and decrypted data using the key pairs.

19. A value transfer system as claimed in claim 18, in which in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that of a second microprocessor of the other of the receiving purse and the sending purse, and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the secret key of the key pair of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the public key of the key pair of the purse of the second microprocessor.

20. A value transfer system as claimed in claim 1, wherein the microprocessors are programmed to employ an asymmetrical cryptographic system having different public and secret keys and each purse has stored therein at least a public key of the system.

21. A value transfer system as claimed in claim 20, wherein each purse stores data signed in the cryptographic system by the computer with a global secret encryption key, the signed data thereby being electronically certified, and the microprocessors are programmed to effect each transaction by checking certified purse data using the global public key.

22. A value transfer system as claimed in claim 20, wherein each purse has stored therein a unique pair including a public key and a secret key in the cryptographic system and the microprocessors are programmed to effect transmission of transaction data as encrypted and decrypted data using the key pairs.

23. A value transfer system as claimed in claim 22, in which in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that of a second microprocessor of the other of the receiving purse and the sending purse, and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the secret key of the key pair of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the public key of the key pair of the purse of the second microprocessor.

24. A value transfer system as claimed in claim 20, wherein in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that a second microprocessor of the other of the receiving purse and the sending purse, wherein the purse of the second microprocessor includes an encryption key for a symmetrical cryptographic system and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the encryption key of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the encryption key.

25. A value transfer system as claimed in claim 20, wherein each purse has stored therein a unique pair including a public key and a secret key in the cryptographic system and the microprocessors are programmed to effect transmission of transaction data as encrypted and decrypted data using the key pairs.

26. A value transfer system as claimed in claim 25, in which in a transaction a first microprocessor of one of the receiving purse and the sending purse has superior computing power compared to that of a second microprocessor of the other of the receiving purse and the sending purse, and the first and second microprocessors are programmed to effect the transaction by sending to the purse of the first microprocessor the secret key of the key pair of the purse of the second microprocessor and encrypting data at the purse of the second microprocessor using the public key of the key pair of the purse of the second microprocessor.