System for secured credit card transactions on the internet
First Claim
1. A method for providing secure transactions between a first entity and at least one additional entity, comprising the steps of:
- (1) assigning a user account number to the first entity;
(2) generating a record associated with the first entity with a money source repository which includes the user account number of the first entity, a user key, a user insertion key and a first entity identifier;
(3) generating a personal charge number from the user account number by inserting the user key into the user account number in accordance with an algorithm that uses the user insertion key and a permutation variable;
(4) transferring the personal charge number and the first entity identifier to a second entity;
(5) transmitting the personal charge number, the first entity identifier, a transaction monetary value and a second entity identifier from the second entity to the money source;
(6) verifying that the personal charge number is valid for the first entity;
(7) providing the second entity with a monetary credit associated with the transaction monetary value; and
(8) charging the first entity with a charged credit associated with the transaction monetary value.
2 Assignments
0 Petitions
Accused Products
Abstract
A method for providing secure credit card transactions over the Internet generates a personal charge number from a user account number by inserting a user key into the user account number in accordance with an algorithm that uses a user insertion key and a permutation variable. After the personal charge number is used, the permutation variable is changed, and a new personal charge number is generated. A money source repository verifies the validity of the personal charge number by using the personal charge number and a user identifier to access a file with the user account number, the user key and the user insertion key, taking into account which permutation variable is valid at a given point in time. Alternatively, the money source repository could generate a string of valid personal charge numbers for a user which are sequentially accessed according to usage.
-
Citations
18 Claims
-
1. A method for providing secure transactions between a first entity and at least one additional entity, comprising the steps of:
-
(1) assigning a user account number to the first entity; (2) generating a record associated with the first entity with a money source repository which includes the user account number of the first entity, a user key, a user insertion key and a first entity identifier; (3) generating a personal charge number from the user account number by inserting the user key into the user account number in accordance with an algorithm that uses the user insertion key and a permutation variable; (4) transferring the personal charge number and the first entity identifier to a second entity; (5) transmitting the personal charge number, the first entity identifier, a transaction monetary value and a second entity identifier from the second entity to the money source; (6) verifying that the personal charge number is valid for the first entity; (7) providing the second entity with a monetary credit associated with the transaction monetary value; and (8) charging the first entity with a charged credit associated with the transaction monetary value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
-
-
13. A method for providing secure transactions between a first entity and at least one additional entity, comprising the steps of:
-
(1) creating a record of a plurality of personal charge numbers for a first entity with a first entity identifier in a money source repository from a user account number of the first entity, a user key and a user insertion key by inserting the user key into the user account number in accordance with an algorithm that uses the user insertion key and a permutation variable which is varied to create each of the plurality of personal charge numbers; (2) selecting a first of the plurality of personal charge numbers as being valid within the record to create a valid personal charge number associated with the first entity identifier; (3) transferring the valid personal charge number and the first entity identifier to a second entity; (4) transmitting the valid personal charge number, the first entity identifier, and a transaction monetary value from the second entity to the money source repository; (5) verifying that the valid personal charge number is valid for the first entity; (6) changing the first of the plurality of personal charge numbers to an invalid state and creating a new valid personal charge number from one of the remaining plurality of personal charge numbers; (7) providing the second entity with a monetary credit associated with the transaction monetary value; and (8) charging the first entity with a charged credit associated with the transaction monetary value. - View Dependent Claims (14, 15, 16, 17, 18)
-
Specification