Remote financial transaction system

• US 5,999,624 A
• Filed: 12/24/1996
• Issued: 12/07/1999
• Est. Priority Date: 06/30/1994
• Status: Expired due to Term

• Current Assignee: Hewlett-Packard Development Company, L.P. (HP Inc.)
• Original Assignee: Compaq Computer Corporation (HP Inc.)
• Inventors: Hopkins, W. Dale
• Primary Examiner(s): Laufer, Pinchus M.
• Assistant Examiner(s): SAYADIAN, HRAYR
• Application Number:
  US08/772,428
• Time in Patent Office: 1,078 Days
• Field of Search: 380/23, 380/24, 380/49, 380/25, 235/379, 902/2, 902/4, 902/22, 395/216-227, 405/16, 405/18, 405/35, 405/39, 405/40, 405/42, 405/43, 405/44
• US Class Current: 705/70
• 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/206 comprising security or operator identification provisions, e.g. password entry
• CPC Class Codes: G06Q 20/306 using TV related infrastructures external card used for payment with client device H04N21/4185
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• 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 20/357 Cards having a plurality of specified features
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/3823 combining multiple encryption tools for a transaction
• CPC Class Codes: G06Q 20/3829 involving key management
• 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
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G07F 7/00 Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 9/001 : Interfacing with vending machines using mobile or wearable devices
• CPC Class Codes: G07F 9/002 : Vending machines being part of a centrally controlled network of vending machines

Abstract

An apparatus and method for performing remote financial transactions over an interactive network using a user operated payment module such as an initialized remote control device. The secure remote financial transaction system uses password security as well as a secure method for selecting and implementing personal passwords.

Claims

1. A method for performing remote financial transactions using a remote user operated payment module that communicates with a transaction processing system, in which the remote user operated payment module is operable in a home, the method comprising the steps performed by the remote user operated payment module, of:

storing, in the remote user operated payment module, one or more remote user operated payment module access passwords, said one or more remote user operated payment module access passwords being different from account information;

storing, in the remote user operated payment module, information corresponding to at least one payment account selected for use with the remote user operated payment module;

receiving, from a user, an encrypted account password for each payment account selected for use with the remote user operated payment module, wherein a decryption key for the encrypted password is maintained by the transaction processing system and is not available to the user and the remote payment module;

storing, in the remote user operated payment module, the encrypted password for each payment account selected for use with the remote user operated payment module;

receiving, from a user, a payment module access password;

authenticating a user using the received payment module access password and one of the one or more stored remote user operated payment module access passwords;

selecting a payment account from the at least one payment account selected for use with the remote user operated payment module;

encrypting and sending the stored information corresponding to the selected payment account to the transaction processing system;

encrypting the stored encrypted account password for the selected payment account to form a twice-encrypted password; and

sending the twice-encrypted password to the transaction processing system.

2. A method as recited in claim 1 wherein the step of encrypting the stored encrypted account password uses a derived unique key to form the twice-encrypted password.

3. A method as recited in claim 1 wherein the step of authenticating further comprises the step of:

comparing the received payment module access password with the one of more stored remote user operated payment module access passwords.

4. A method as recited in claim 1 wherein the information corresponding to at least one payment account corresponds to information included in a first or second magnetic stripe of a credit card.

5. A method as recited in claim 1 wherein the user interactively selects the selected payment account.

6. A method as recited in claim 1 wherein each remote user operated payment module access password corresponds to at least one payment account selected for use with the remote user operated payment module.

7. A method as recited in claim 6 wherein the step of selecting a payment account selects a payment account that corresponds to the remote user operated payment module access password used to authenticate the user.

8. A method for performing remote financial transactions using a remote user operated payment module operable in a home that communicates with a transaction processing system, wherein the remote user operated payment module stores information corresponding to at least one payment account for each user of the remote user operated payment module, wherein the remote user operated payment module stores a remote user operated payment module access password for each user, said remote user operated payment module access password being different from account information, and wherein the remote user operated payment module receives and stores an encrypted account password corresponding to each payment account wherein a decryption key for the encrypted password is maintained by the transaction processing system and is not available to the user and the remote payment module, the method comprising the steps, performed by the remote user operated payment module, of:

receiving a payment module access password;

authenticating a user using the received payment module access password and one of the one or more stored remote user operated payment module access passwords;

interactively selecting a payment account based on input from the authenticated user;

encrypting and sending the stored information corresponding to the selected payment account to the transaction processing system;

encrypting the stored encrypted account password for the selected payment account to form a twice-encrypted password; and

sending the twice-encrypted password to the transaction processing system.

9. A method as recited in claim 8 wherein the step of encrypting the stored encrypted account password uses a derived unique key to form the twice-encrypted password.

10. A method as recited in claim 8 wherein the information corresponding to at least one payment account corresponds to information included in a first or second magnetic stripe of a credit card.

11. A remote user operated payment module operable in a home for performing remote financial transactions, the apparatus comprising:

a first portion configured to store one or more remote user operated payment module access passwords said one or more remote user operated payment module access passwords being different from account information;

a second portion configured to store information corresponding to at least one payment account selected for use with the remote user operated payment module;

a third portion configured to receive and store a respective encrypted account password for each payment account selected for use with the remote user operated payment module wherein a decryption key for the encrypted password is maintained by the transaction processing system and is not available to the user and the remote payment module;

a fourth portion configured to receive a payment module access password and authenticate'"'"'s user using the received payment module access password and one of the one or more stored remote user operated payment module access passwords;

a fifth portion configured to select a payment account from the at least one payment account selected for use with the remote user operated payment module;

a sixth portion configured to encrypt and send the stored information corresponding to the selected payment account to a transaction processing system;

a seventh portion configured to encrypt the stored encrypted account password for the selected payment account to form a twice-encrypted password; and

an eighth portion configured to send the twice-encrypted password to the transaction processing system.

12. A remote user operated payment module as recited in claim 11 wherein the seventh portion is configured to use a derived unique key to form the twice-encrypted password.

13. A remote user operated payment module as recited in claim 11 wherein the information corresponding to at least one payment account corresponds to information included in a first or second magnetic stripe of a credit card.

14. A remote user operated payment module as recited in claim 11 wherein the fifth portion is configured to select a payment account using interactive input from the user.

15. A remote user operated payment module as recited in claim 11 wherein each remote user operated payment module access password corresponds to at least one payment account selected for use with the remote user operated payment module.

16. A remote user operated payment module as recited in claim 15 wherein the fifth portion is configured to select a payment account that corresponds to the remote user operated payment module access password used to authenticate the user.

17. A computer program product comprising a computer usable medium having computer readable code embodied therein for performing remote financial transactions, the computer program product comprising:

a first portion configured to cause a remote user operated payment module operable in a home to store one or more remote user operated payment module access passwords said one or more remote user operated payment module access passwords being different from account information;

a second portion configured to cause the remote user operated payment module to store information corresponding to at least one payment account selected for use with the remote user operated payment module;

a third portion configured to cause the remote user operated payment module to receive and store a respective encrypted account password for each payment account selected for use with the remote user operated payment module wherein a decryption key for the encrypted password is maintained by the transaction processing system and is not available to the user and the remote payment module;

a fourth portion configured to cause the remote user operated payment module to receive a payment module access password and authenticate a user using the received payment module access password and one of the one or more stored remote user operated payment module access passwords;

a fifth portion configured to cause the remote user operated payment module to select a payment account from the at least one payment account selected for use with the remote user operated payment module;

a sixth portion configured to cause the remote user operated payment module to encrypt and send the stored information corresponding to the selected payment account to a transaction processing system;

a seventh portion configured to cause the remote user operated payment module to encrypt the stored encrypted account password for the selected payment account to form a twice-encrypted password; and

an eighth portion configured to cause the remote user operated payment module to send the twice-encrypted password to the transaction processing system.

18. A computer program product as recited in claim 17 wherein the seventh portion is configured to a derived unique key to form the twice-encrypted password.

19. A computer program product as recited in claim 17 wherein the information corresponding to at least one payment account corresponds to information included in a first or second magnetic stripe of a credit card.

20. A computer program product as recited in claim 17 wherein the fifth portion is configured to cause the remote user operated payment module to select a payment account using interactive input from the user.

21. A computer program product as recited in claim 17 wherein each remote user operated payment module access password corresponds to at least one payment account selected for use with the remote user operated payment module.

22. A computer program product as recited in claim 21 wherein the fifth portion is configured to cause the remote user operated payment module to select a payment account that corresponds to the remote user operated payment module access password used to authenticate the user.