Systems and methods for performing secure financial transactions

• US 9,628,466 B2
• Filed: 07/24/2015
• Issued: 04/18/2017
• Est. Priority Date: 03/21/2006
• Status: Active Grant

• Current Assignee: Knapp Investment Company Limited
• Original Assignee: Radiofy, LLC
• Inventors: Shoarinejad, Kambiz, Soltan, Maryam
• Primary Examiner(s): Pham, Toan N
• Application Number:
  US14/809,031
• Publication Number:
  US 20160028710A1
• Time in Patent Office: 634 Days
• Field of Search: 3405721, 3405724, 340 101, 340 102, 340 104, 340 58, 340 582, 235375, 726 4
• CPC Class Codes: G06K 7/00 Methods or arrangements for sensing record carriers, e.g. for reading patterns methods or arrangements for marking the record carrier in digital fashion G06K1/00; pattern recognition G06F18/00; arrangements for image or video recognition or understanding G06V10/00; character recognition, recognising digital ink or document-oriented image-based pattern recognition G06V30/00
• CPC Class Codes: G06K 7/10257 arrangements for protecting the interrogation against piracy attacks computer security in general G06F21/00; jamming of communication, countermeasures H04K3/00; secret communication H04K1/00
• CPC Class Codes: G06Q 20/206 comprising security or operator identification provisions, e.g. password entry
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G06Q 20/409 Device specific authentication in transaction processing
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data
• CPC Class Codes: G07F 7/12 Card verification
• CPC Class Codes: H04L 2209/805 Lightweight hardware, e.g. radio-frequency identification [RFID] or sensor
• CPC Class Codes: H04L 63/0428 wherein the data content is protected, e.g. by encrypting or encapsulating the payload
• CPC Class Codes: H04L 63/08 for authentication of entities cryptographic mechanisms or cryptographic arrangements for entity authentication H04L9/32
• CPC Class Codes: H04L 63/0876 based on the identity of the terminal or configuration, e.g. MAC address, hardware or software configuration or device fingerprint
• CPC Class Codes: H04L 9/12 Transmitting and receiving encryption devices synchronised or initially set up in a particular manner
• CPC Class Codes: H04L 9/3226 using a predetermined code, e.g. password, passphrase or PIN network architectures or network communication protocols for supporting authentication of entities using passwords in a packet data network H04L63/083
• CPC Class Codes: H04L 9/3231 Biological data, e.g. fingerprint, voice or retina network architectures or network communication protocols for supporting authentication of entities using biometrical features in a packet data network H04L63/0861

Abstract

An RFID system includes an RFID tag, an RFID reader, and a server. The RFID tag communicates to the server via encrypted information. The information may be encrypted with synchronized encryption keys. In this manner, the reader need not decrypt the information from the RFID tag. The effectiveness of malicious readers is thereby reduced, resulting in improved RFID tag security.

Claims

1. A system for making a purchase transaction at a point of sale (POS) terminal, the system comprising:

a server configured to communicate with the POS terminal;

an electronic device comprising;

a display;

a memory storing data relating to a financial information of a user, wherein the data does not comprise an account number;

a processor configured to;

encrypt the data to generate an encrypted data; and

send the encrypted data relating to the financial information of the user to the POS terminal for communicating the encrypted data to the server;

wherein the server is further configured to;

receive the encrypted data relating to the financial information of the user from the POS terminal for the purchase transaction;

decrypt the encrypted data to obtain the data;

use the data to identify an account number associated with a bank account of the user;

charge the bank account of the user for the purchase transaction; and

acknowledge an authorization of the purchase transaction;

wherein the electronic device is further configured to;

display, in response to acknowledging, a successful communication acknowledged by the server on the display of the electronic device.

2. The system of claim 1, wherein the POS terminal acts as a conduit of said encrypted data by receiving the encrypted data from the electronic device and sending the encrypted data to the server without decrypting the encrypted data.

3. The system of claim 1, wherein the transaction comprises a transaction amount, wherein the server is further configured to receive the transaction amount from the POS terminal, wherein charging the bank account of the user for the purchase transaction comprises debiting the bank account of the user by the transaction amount.

4. The system of claim 3, wherein the POS terminal is associated with a store, wherein the server is further configured to credit the store with the transaction amount.

5. The system of claim 1, wherein the memory of the electronic device further stores a set of keys to encrypt the data relating to the financial information of the user.

6. The system of claim 1, the electronic device further comprising a power supply configured to provide power to the display, memory, and processor of the electronic device.

7. The system of claim 1, wherein:

the memory further stores a first fingerprint information of the user; and

the processor is further configured to;

receive a second fingerprint information; and

compare the first fingerprint information with the second fingerprint information to determine a match,

wherein sending the encrypted data to the POS terminal is in response to determining the match.

8. An electronic device for making a purchase transaction at a point of sale (POS) terminal in communication with a server, the electronic device comprising:

a display;

a memory storing data relating to a financial information of a user, wherein the data does not comprise an account number;

a processor configured to;

encrypt the data to generate an encrypted data;

send the encrypted data relating to the financial information of the user to the POS terminal for communicating the encrypted data and the purchase transaction to the server and for the server to decrypt the encrypted data to obtain the data, to use the data to identify an account number associated with a bank account of the user, and to charge the bank account of the user for the purchase transaction; and

display a successful communication acknowledged by the server on the display of the electronic device.

9. The electronic device of claim 8, wherein the purchase transaction comprises a transaction amount, wherein charging the bank account of the user for the purchase transaction comprises debiting the bank account of the user by the transaction amount.

10. The electronic device of claim 9, wherein the POS terminal is associated with a store, wherein the transaction amount is further for the sever to credit the store with the transaction amount.

11. The electronic device of claim 8, wherein the memory further stores a set of keys to encrypt the data relating to the financial information of the user.

12. The electronic device of claim 8 further comprising a power supply configured to provide power to the display, memory, and processor of the electronic device.

13. The electronic device of claim 8, wherein the POS terminal acts as a conduit of said encrypted data by receiving the encrypted data from the electronic device and sending the encrypted data to the server without decrypting the encrypted data.

14. The electronic device of claim 8, wherein:

the memory further stores a first fingerprint information of the user; and

the processor is further configured to;

receive a second fingerprint information; and

compare the first fingerprint information with the second fingerprint information to determine a match,

wherein sending the encrypted data to the POS terminal is in response to determining the match.

15. A method for use by an electronic device for making a purchase transaction at a point of sale (POS) terminal in communication with a server, the electronic device having a processor, a display, and a memory storing data relating to a financial information of a user, wherein the data does not comprise an account number, the method comprising:

encrypting, using the processor, the data to generate an encrypted data;

sending the encrypted data relating to the financial information of the user to the POS terminal for communicating the encrypted data and the purchase transaction to the server and for the server to decrypt the encrypted data to obtain the data, to use the data to identify an account number associated with a bank account of the user, and to charge the bank account of the user for the purchase transaction; and

displaying a successful communication acknowledged by the server on the display of the electronic device.

16. The method of claim 15, wherein the purchase transaction comprises a transaction amount, wherein charging the bank account of the user for the purchase transaction comprises debiting the bank account of the user by the transaction amount.

17. The method of claim 16, wherein the POS terminal is associated with a store, wherein the transaction amount is further for the sever to credit the store with the transaction amount.

18. The method of claim 15, wherein the memory further stores a set of keys to encrypt the data relating to the financial information of the user.

19. The method of claim 15, wherein the electronic device further comprises a power supply configured to provide power to the display, memory, and processor of the electronic device.

20. The method of claim 15, wherein the POS terminal acts as a conduit of said encrypted data by receiving the encrypted data from the electronic device and sending the encrypted data to the server without decrypting the encrypted data.

21. The method of claim 15, wherein the memory further stores a first fingerprint information of the user, the method further comprising:

receiving a second fingerprint information; and

comparing the first fingerprint information with the second fingerprint information to determine a match,

wherein the sending of the encrypted data to the POS terminal is in response to determining the match.