ELECTRONIC TRANSACTION SECURITY SYSTEM

• US 20110247062A1
• Filed: 10/05/2010
• Published: 10/06/2011
• Est. Priority Date: 10/05/2009
• Status: Active Grant

• Current Assignee: Miri Systems LLC
• Original Assignee: Ludwik F. Zon, Ronald W. Sandstrom
• Inventors: Sandstrom, Ronald W., Zon, Ludwik F.
• Granted Patent: US 9,094,209 B2
• Time in Patent Office: Days
• US Class Current: 726/6
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/4018 using the card verification value [CVV] associated with the card
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 2209/80 Wireless network architectures or network communication protocols for wireless network security H04W12/00
• CPC Class Codes: H04L 2209/88 Medical equipments
• 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: H04W 12/06 Authentication
• CPC Class Codes: H04W 12/08 Access security
• CPC Class Codes: H04W 12/61 Time-dependent

Abstract

A system and method for generating a limited use login credential associated with an account maintained by an institution, where the credential facilitates secure access to the account.

Claims

1. A method for providing access to an account maintained by an institution, the method comprising the steps of:

generating by a mobile device a login credential derived, but different, from data associated with the account according to a predetermined conversion algorithm;

transmitting the login credential to the institution; and

accessing the account based on confirmation that the login credential corresponds to the account.

2. The method of claim 1 comprising the step of establishing for the login credential a time limit following the generating step, wherein the confirmation comprises confirming that the time limit has not expired, and, if the time limit has expired, further comprising rejecting access to the account.

3. A method for providing login credentials to a transaction terminal involving a mobile device, wherein the login credentials may be used to gain access to a user account maintained by the transaction terminal and associated with a user of the mobile device, the method comprising the step of:

generating by the mobile device a login credential corresponding to the user account but different from any credentials associated with the user account and maintained by the transaction terminal, wherein the login credential has a limited use and identifies the user, but cannot do so without the use of additional information maintained by the transaction terminal.

4. A method for providing access to an account of a user identified by a unique identifier, wherein the account is maintained by an institution, the method comprising the steps of:

generating by a mobile device an authentication indicia derived from data associated with the account according to a predetermined conversion algorithm;

generating by the mobile device a login credential comprising the unique identifier and the authentication indicia;

transmitting the login credential to the institution; and

accessing the account based on confirmation that the authentication indicia authenticates the user based on the identification of the user by the unique identifier.

5. The method of claim 4 wherein the login credential expires after being used to access the account.

6. The method of claim 4 where the login credential expires after a predetermined amount of time after the step of generating the authentication indicia has occurred.