Method and device for conducting a secured financial transaction on a device

  • US 11,132,665 B2
  • Filed: 04/25/2014
  • Issued: 09/28/2021
  • Est. Priority Date: 02/29/2012
  • Status: Active Grant
First Claim
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1. A method of conducting a secured financial transaction on a device used as a payment terminal, the device running a point of sale (POS) application, the device comprising a central processing unit, a wireless interface, a communication interface and a secure element, the POS application comprising a payment control application, the payment control application running on the central processing unit and comprising control instructions to control the secure element, the secure element storing a merchant identifier, the method comprising:

  • receiving, by the POS application, user input comprising a payment amount for the secured financial transaction;

    sending, by the payment control application and to the secure element, a request to conduct the secured financial transaction;

    after receiving the request to conduct the secured financial transaction, activating, by the secure element, the wireless interface of the device;

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

    selecting, by the secure element, and based on the one or more payment applications supported by the payment apparatus, a payment application amongst a plurality of payment applications available to the secure element;

    acquiring, by the secure element, via the wireless interface of the device, and from the payment apparatus, data relating to a financial account;

    encrypting, by the secure element, at least a portion of the data relating to the financial account;

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

    transmitting, by the secure element and to the server, the encrypted data and the merchant identifier;

    obtaining, by the secure element, a transaction authorization for conducting the secured financial transaction from the server; and

    displaying, by the device, an indication of the transaction authorization.

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