System for secure execution of credit based point of sale purchases
US6615194B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 5, 1998 |
| Grant date | Sep 2, 2003 |
| Priority date | — |
| Expiry date | Sep 23, 2018 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07G1/0036
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present system for the secure execution of credit based point of sale purchases uses a credit card that is devoid of any human readable customer account information on the face of the credit card and that encodes all the relevant account information on read only media built into the credit card. This encoded information can be encrypted or protected is some manner to prevent its retrieval by an unauthorized user. In addition, the present system makes use of a point of sale terminal to execute the transaction. In the transaction, the point of sale terminal scans the credit card to obtain the account information encoded therein and the user then inputs a personal identification number PIN to proceed to the next step of the charge process. The PIN number can be used as the cryptokey if the account information is encrypted on the card, or may simply represent a first level of user authentication. In either case, the account information and user authentication information is transmitted to a remotely located credit authorizing agency via telephone lines. Neither the credit card account number nor the type of card (VISA, MASTERCARD), nor the PIN number is displayed to the clerk on th…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.