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Securing a transaction between a transponder and a reader

  • US 9,886,692 B2
  • Filed: 10/27/2014
  • Issued: 02/06/2018
  • Est. Priority Date: 07/10/2001
  • Status: Expired due to Fees
First Claim
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1. A method to process a transaction at a Point of Sale (POS) device, comprising:

  • receiving a decrypted account number from a reader device to facilitate a payment transaction in response to a mutual authentication of a transponder device and the reader device;

    transmitting the decrypted account number to a merchant system;

    receiving a verification Personal Identification Number (PIN) in response to a first purchase restriction associated with the decrypted account number;

    sending the verification PIN to at least one of the reader device or a payment authorization center to authenticate the verification PIN;

    receiving a first transaction authorized signal in response to an authentication of the verification PIN; and

    processing the payment transaction.

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