Method and device for generating a single-use financial account number

• US 7,853,529 B1
• Filed: 10/23/2000
• Issued: 12/14/2010
• Est. Priority Date: 08/28/1997
• Status: Expired due to Fees

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: Walker Digital LLC (Walker Innovation Inc. (f/k/a Patent Properties, Inc.))
• Inventors: Tedesco, Daniel E., Jindal, Sanjay K., Schneier, Bruce, Walker, Jay S.
• Primary Examiner(s): Elisca, Pierre E
• Application Number:
  US09/694,191
• Time in Patent Office: 3,704 Days
• Field of Search: 705/44, 705/50, 705/64, 705/39, 705/55, 705/38
• US Class Current: 705/55
• 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 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• 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 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G07F 7/1016 Devices or methods for securing the PIN and other transaction-data, e.g. by encryption arrangements for secret communication, see H04L9/00

Abstract

A device for facilitating financial account transactions is described which includes a processing unit including a cryptographic processor. The device also includes an input unit, a display unit and a memory device connected to the processing unit. The memory device contains a private cryptographic key, a first data element and a second data element. The processing unit encrypts the first data element using the private cryptographic key and the second data element, modifies the second data element, combines the encrypted first data element and the second data element to generate a single-use financial account identifier, and displays the single-use financial account identifier. This identifier is then transmitted to a central processor for authorization of the transaction. The central processor extracts and decrypts data elements from the transmitted identifier using the private cryptographic key, compares those data elements with data elements stored in a memory, and verifies the single-use financial account identifier in accordance with the comparison.

Claims

1. A method comprising:

receiving a product identifier that identifies a product,

in which the product is associated with a transaction;

receiving, at a terminal of a merchant, a credit card number from a customer as payment for the transaction,

in which the credit card number is for use only one time,

in which the credit card number is for use in place of an account number that identifies a credit card account, and

in which the credit card number has the same number of digits as the account number;

transmitting, by the terminal, the credit card number for authorization of the transaction;

receiving, by the terminal, information indicating whether the transaction is authorized; and

providing the product to the customer if the transaction is authorized.

2. A method comprising:

receiving a product identifier that identifies a product,

in which the product is associated with a transaction;

receiving, at a terminal of a merchant, a single-use credit card number from a cardholder,

in which the single-use credit card number is for use only one time,

in which the single-use credit card number is for use in place of an account number that identifies the cardholder, and

in which the single-use credit card number has the same number of digits as the account number;

determining a transaction amount that is associated with the transaction;

after receiving the single-use credit card number from the cardholder, transmitting, by the terminal, the single-use credit card number and the transaction amount to a credit card issuer for authorization of the transaction;

receiving, by the terminal, information from the credit card issuer indicating whether the credit card account has sufficient credit available for the transaction; and

providing the product to the customer based on the information from the credit card issuer.

3. A method comprising:

receiving, at a terminal of a merchant, a single-use credit card number,

in which the single-use credit card number is for use only one time,

in which the single-use credit card number is for use in place of an account number that identifies a credit card account, and

in which the single-use credit card number has the same number of digits as the account number;

receiving, at the terminal, an indication of an amount of a purchase;

after receiving the single-use credit card number at the terminal, transmitting, from the terminal, the single-use credit card number and the amount of the purchase to a credit card issuer for authorization of the purchase; and

receiving, at the terminal, information from the credit card issuer indicating whether the purchase is authorized.

4. The method of claim 3, in which receiving the single-use credit card number comprises:

receiving the single-use credit card number via the Internet.

5. The method of claim 3, in which receiving the single-use credit card number comprises:

receiving the single-use credit card number via a telephone.

6. The method of claim 3, further comprising:

providing the product to a customer if the purchase is authorized.

7. The method of claim 3, further comprising:

receiving, at the terminal, information from the credit card issuer indicating whether the credit card account has sufficient credit available for the purchase.

8. The method of claim 3, further comprising:

receiving, at the terminal, information from the credit card issuer indicating whether the single-use credit card number is valid.