System and method of authentication using a re-writable card verification value
US10657774B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 26, 2018 |
| Grant date | May 19, 2020 |
| Priority date | — |
| Expiry date | Feb 26, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments of the method for authenticating may include causing an automated teller machine to replace a card verification value with an updated card verification value during a first transaction at the automated teller machine when a re-write condition is present, such as a request from an account holder, a determination that the security of the card was compromised during a prior transaction, a predetermined time interval has lapsed, a predetermined number of transactions have occurred since a previous time the card verification value was rewritten, and according to a predetermined geographical parameter. The updated card verification value may be stored as a current value in a verification value database. The method may include receiving a card verification request related to a second transaction, and authenticating, using verification logic, the second transaction by determining whether the card verification value for the second transaction matches the current value stored in the database.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.