Systems and methods for performing wireless financial transactions

• US 8,214,298 B2
• Filed: 08/22/2008
• Issued: 07/03/2012
• Est. Priority Date: 02/26/2008
• Status: Active Grant

• Current Assignee: Battelle Energy Alliance LLC (Battelle Memorial Institute)
• Original Assignee: Rfinity Corporation
• Inventors: McCown, Steven Harvey
• Primary Examiner(s): Reagan, James A
• Assistant Examiner(s): CHEUNG, CALVIN K
• Application Number:
  US12/196,806
• Publication Number:
  US 20090216681A1
• Time in Patent Office: 1,411 Days
• Field of Search: 705 64- 67
• US Class Current: 705/67
• CPC Class Codes: G06Q 20/1235 with control of digital rights management [DRM]
• CPC Class Codes: G06Q 20/223 based on the use of peer-to-peer networks
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 2209/603 Digital right managament [DRM]
• CPC Class Codes: H04L 2209/805 Lightweight hardware, e.g. radio-frequency identification [RFID] or sensor
• CPC Class Codes: H04L 9/3247 involving digital signatures

Abstract

A secure computing module (SCM) is configured for connection with a host device. The SCM includes a processor for performing secure processing operations, a host interface for coupling the processor to the host device, and a memory connected to the processor wherein the processor logically isolates at least some of the memory from access by the host device. The SCM also includes a proximate-field wireless communicator connected to the processor to communicate with another SCM associated with another host device. The SCM generates a secure digital signature for a financial transaction package and communicates the package and the signature to the other SCM using the proximate-field wireless communicator. Financial transactions are performed from person to person using the secure digital signature of each person'"'"'s SCM and possibly message encryption. The digital signatures and transaction details are communicated to appropriate financial organizations to authenticate the transaction parties and complete the transaction.

Claims

1. A method of performing a financial transaction using a buyer'"'"'s secure computing module (SCM) commutatively coupled to a buyer'"'"'s wireless communication device, the method comprising:

receiving, by a processor resident in the buyer'"'"'s SCM, financial transaction details for the financial transaction from the buyer'"'"'s wireless communication device, the financial transaction details including a transaction amount for the execution of the financial transaction;

generating by the processor resident in the buyer'"'"'s SCM, a financial transaction package including the financial transaction details and credentials associated with the buyer;

communicating, by a proximate-field wireless communicator resident in the buyer'"'"'s SCM, the financial transaction package to a seller'"'"'s SCM via a proximate-field wireless communication channel;

receiving from the seller'"'"'s SCM, by the proximate-field wireless communicator resident in the buyer'"'"'s SCM via the proximate-field wireless communication channel, a request for an authorization of a funds transfer consistent with the transaction amount from a financial organization associated with the buyer to a financial organization associated with the seller;

communicating, by the proximate-field wireless communicator resident in the buyer'"'"'s SCM, an authorization for a transfer of funds from the financial organization associated with the buyer to the financial organization associated with the seller to the seller'"'"'s SCM via the proximate-field wireless communication channel;

receiving from the seller'"'"'s SCM, by the proximate-field wireless communicator resident in the buyer'"'"'s SCM via the proximate-field wireless communication channel, an acknowledgment of the funds transfer from the financial organization associated with the buyer to the financial organization associated with the seller; and

providing, by the processor resident in the buyer'"'"'s SCM, the acknowledgement to the buyer'"'"'s wireless communication device.

2. The method of claim 1, further comprising encrypting at least one of the financial transaction details, the credentials associated with the buyer, and the financial transaction package prior to communicating the financial transaction package to the seller'"'"'s SCM.

3. The method of claim 1, wherein the financial transaction details further comprise at least one of a transaction description and a seller'"'"'s credentials.

4. The method of claim 1, further comprising:

signing, by the processor resident in the buyer'"'"'s SCM the financial transaction details with a buyer'"'"'s secure digital signature by performing a secure hash function using a buyer'"'"'s secret key on a message comprising the financial transaction details and a buyer'"'"'s transaction number identifier.

5. The method of claim 1, wherein communicating via the proximate-field wireless communication channel comprises communicating using available radio frequencies, infrared frequencies, 802.1 a/b/g/n type wireless connections, Bluetooth, RFID, WiFi, WiMax, or combinations thereof.

6. The method of claim 1, further comprising:

receiving, by the buyer'"'"'s wireless communication device via a cellular communication channel, a result of the financial transaction.

7. A method of performing a financial transaction using a buyer'"'"'s secure computing module (SCM) commutatively coupled to a buyer'"'"'s wireless communication device, the method comprising:

receiving, by a processor resident in the buyer'"'"'s SCM, financial transaction details for the financial transaction from the buyer'"'"'s wireless communication device, the financial transaction details including a purchase price for an object of the financial transaction;

generating by the processor resident in the seller'"'"'s SCM, a financial transaction package including the financial transaction details and credentials associated with the seller;

communicating, by a proximate-field wireless communicator resident in the seller'"'"'s SCM, the financial transaction package to a buyer'"'"'s SCM via a proximate-field wireless communication channel,

communicating, by the proximate-field wireless communicator resident in the seller'"'"'s SCM via the proximate-field wireless communication channel, a request for an authorization of a funds transfer consistent with the purchase price from a financial organization associated with the buyer to a financial organization associated with the seller;

receiving, by the proximate-field wireless communicator resident in the seller'"'"'s SCM via the proximate-field wireless communication channel, an authorization for a transfer of funds consistent with the purchase price from the financial organization associated with the buyer to the financial organization associated with the seller from the buyer'"'"'s SCM;

communicating, by the proximate-field wireless communicator resident in the seller'"'"'s SCM via the proximate-field wireless communication channel, an acknowledgment of the funds transfer from the financial organization associated with the buyer to the financial organization associated with the seller to the buyer'"'"'s SCM; and

providing, by the processor resident in the seller'"'"'s SCM, the acknowledgement to the seller'"'"'s wireless communication device.

8. The method of claim 7, further comprising encrypting at least one of the financial transaction details, the credentials associated with the buyer, and the financial transaction package prior to communicating the financial transaction package to the seller'"'"'s SCM.

9. The method of claim 7, wherein the financial transaction details further include comprise at least one of a transaction description and a buyer'"'"'s credentials.

10. The method of claim 7, further comprising:

signing the financial transaction details with a seller'"'"'s secure digital signature by performing a secure hash function using a seller'"'"'s secret key on a message comprising the financial transaction details and a seller'"'"'s transaction number identifier.

11. The method of claim 7, wherein communicating via the proximate-field wireless communication channel comprises communicating using available radio frequencies, infrared frequencies, 802.1 a/b/g/n type wireless connections, Bluetooth, RFID, WiFi, WiMax, or combinations thereof.

12. The method of claim 7, further comprising:

receiving, by at least one of the buyer'"'"'s wireless communication device and the seller'"'"'s wireless communication device via a cellular communication channel, a result of the financial transaction.