FINANCIAL TRANSACTIONS WITH DYNAMIC CARD VERIFICATION VALUES

• US 20070136211A1
• Filed: 12/30/2006
• Published: 06/14/2007
• Est. Priority Date: 03/15/2004
• Status: Active Grant

• Current Assignee: Fitbit, Inc. (Alphabet Inc.)
• Original Assignee: Qsecure Inc.
• Inventors: Brown, Kerry, Pariseau, David
• Granted Patent: US 7,584,153 B2
• Time in Patent Office: Days
• US Class Current: 705/75
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/3415 Cards acting autonomously as pay-media
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4018 using the card verification value [CVV] associated with the card
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/1083 Counting of PIN attempts
• CPC Class Codes: G07F 7/12 Card verification

Abstract

A payment card comprises an internal dynamic card verification value (CVV) generator and a user display for card-not-present transactions. Card-present transactions with merchant card readers are enabled by a dynamic magnetic array internally associated with the card'"'"'s magnetic stripe. The user display and a timer are triggered by the suer when the user needs to see the card verification value and/or begin a new transaction. A new card verification value is provided for each new transaction according to a cryptographic process, but the timer limits how soon a next new card verification value can be generated.

Claims

1. A system for securing financial transactions with payment cards, comprising:

a payment car for use at least in card-not-present financial transactions with a merchant;

a variable card verification value (CVV) disposed electronically in the payment card;

a user display for visually presenting said CVV on the payment card;

means for starting an electronic generation of a next version of the variable card verification CVV according to a cryptographic process, and for causing said CVV to be visually presented on the user display;

a timer connected to the means for starting, and providing a limit on the frequency at which a new next variable card verification CVV can be generated or retrieved; and

a payment infrastructure connected through said merchant and providing for financial transaction authorizations based at least on the validity of said CVV according to said cryptographic process.

2. The system of claim 1, further comprising:

means for associating a account number (PAN) with a particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit.

3. The system of claim 1, further comprising:

means for associating a four-digit expiration date (MMYY) with said CVV.

4. The system of claim 1, further comprising:

means for encoding a magnetic stripe on said payment card with said CVV for periodic reading by a magnetic card reader during a card-present financial transaction with a merchant.

5. The system of claim 1, further comprising:

means for storing a table of cryptographic values associated with said CVV on particular payment cards during their personalization.

6. The system of claim 1, further comprising:

means for sensing a financial transaction being commenced with the payment card.

7. The system of claim 1, further comprising:

a timer disposed in the payment card, and triggered by a user input, and providing for a separation of a current financial transaction from a next, new financial transaction;

wherein, a current variable card verification CVV is presented on the user display only during a current financial transaction;

wherein, a new, next variable card verification CVV is presented on the user display only during a next, new financial transaction; and

wherein, a limit is imposed on how frequently a new, next variable card verification CVV can be electronically generated and presented on the user display.

8. The system of claim 1, further comprising:

means for selecting a cryptographic value from a table of cryptographic values for inclusion as said CVV when a next, new financial transaction is sensed.

9. The system of claim 8, further comprising:

means for repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once.

10. A method for securing payment card financial transactions, comprising:

associating a card verification value (CVV) with a particular payment card and user;

a personal account number (PAN), wherein are included fields for a system number, a bank/product number, a user account number, and a check digit;

associating a four-digit expiration date (MMYY) with said CVV;

encoding a magnetic stripe on said payment card with said CVV for periodic reading by a magnetic card reader during a card-present financial transaction with a merchant;

storing a table of cryptographic values associated with said CVV on each user'"'"'s payment card during personalization;

sensing a financial transaction being commenced with the payment card;

separating a current financial transaction from a next, new financial transaction with a timer disposed in the payment card, and triggered by a user input;

presenting a current variable card verification CVV on the user display only during a current financial transaction;

presenting a new, next variable card verification CVV on the user display only during a next, new financial transaction;

imposing a limit on how frequently a new, next variable card verification CVV can be electronically generated and presented on the user display;

selecting a cryptographic value from a table of cryptographic values for inclusion as a dynamic portion of said CVV when a next, new financial transaction is sensed;

repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once; and

authorizing said next financial transaction only if said CVV includes a correct cryptographic value in said user account number field.

11. The system of claim 10, further comprising:

limiting the range of said four-digit expiration date to a range of forty-eight months and evenly allocating expiration months in the range to a population of users, such that said CVV and said MMYY combine to provide a greater number of unique identifiers for such users.

12. A secure financial transaction network for payment cards, comprising:

means for associating a card verification value (CVV) with a particular payment card and user;

means for encoding said payment card with said CVV for reading during a financial transaction;

means for storing a table of cryptographic values associated with said CVV on each user'"'"'s payment card during personalization;

means for sensing a next financial transaction being commenced with said payment card;

means for selecting a cryptographic value from said table of cryptographic values for inclusion as said user account number with said CVV when a next financial transaction is sensed;

means for not repeating the use of any cryptographic value from said table of cryptographic values in another financial transaction after being used once; and

means for authorizing by said issuing bank said next financial transaction only if said CVV includes a correct cryptographic value.

13. The network of claim 12, further comprising:

means for limiting the range of a four-digit expiration date (MMYY) to a range of forty-eight months and evenly allocating expiration months in the range to a population of users, such that said CVV and said MMYY combine to provide a greater number of unique identifiers for such users.

14. A secure payment card, comprising:

a particular payment card for use in financial transactions with merchants;

a card verification value (CVV) associated with the particular payment card and user, wherein are included fields for a system number, a bank/product number, a user account number, and a check digit;

a magnetic stripe disposed on the particular payment card, and providing for periodic reading by a magnetic card reader during a financial transaction;

a user display disposed on the particular payment card;

a table of cryptographic values associated with the CVV on the particular payment card during its personalization;

a detector for sensing a next, new financial transaction being commenced with the particular payment card;

a cryptographic value selectable from the table of cryptographic values for inclusion as a dynamic portion of said user account number with said CVV when a next financial transaction is sensed in the preceding step;

means for not repeating the use of any cryptographic value from the table of cryptographic values in another financial transaction after being used once; and

means for proceeding with a next, new financial transaction only if the CVV includes a verified cryptographic value.