Method, device and secure element for conducting a secured financial transaction on a device

  • US 10,504,101 B2
  • Filed: 01/18/2019
  • Issued: 12/10/2019
  • Est. Priority Date: 02/29/2012
  • Status: Active Grant
First Claim
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1. A method of operating a mobile device used as a payment terminal by a merchant, the mobile device being distinct from a dedicated payment terminal, the mobile device being configured to run a point of sale (POS) application for receiving a payment from a customer and to operate a secure element, the mobile device comprising a central processing unit, a contactless interface and a communication interface, the secure element being characterized by software components operating a secured environment, the POS application comprising a payment control application configured to interact with the secure element, the method comprising:

  • receiving user input comprising an amount corresponding to the payment;

    activating the contactless interface of the mobile device;

    receiving, via the contactless interface of the mobile device and from a payment apparatus of the customer, an indication of one or more payment applications supported by the payment apparatus;

    selecting a payment application of the one or more payment applications supported by the payment apparatus;

    acquiring, by the secure element, via the contactless interface of the mobile device, data associated with the payment apparatus, wherein the data associated with the payment apparatus identifies the customer'"'"'s financial account, and wherein at least a portion of the data associated with the payment apparatus is solely accessible by the secure element;

    encrypting, by the secure element, the at least the portion of the data associated with the payment apparatus, thereby generating encrypted data;

    establishing, through the communication interface of the mobile device, a secured communication channel between the secure element and a remote server; and

    sending over the secured communication channel, to the remote server, the encrypted data and an identifier corresponding to the merchant so that a transaction authorization request may be processed.

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