Transaction authentication system and method

US7499888B1 · kind B1 · utility

Assignee

• Fusionone, Inc. · US

Inventors

• Edgar Allan Tu · Castro Valley, US
• Eric Pang · Sunnyvale, US

Key dates

• Filing date: Mar 16, 2001
• Grant date: Mar 3, 2009
• Expiry date: Aug 14, 2023

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/122
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A transaction security and authentication apparatus and system for electronic commerce which provides authentication of internet purchases by communication with a cardholder's base computer, or by contacting the cardholder by remote access for purchase verification. The system preferably comprises at least one central server system associated with a remote access system and configured for communication with a payment institution, and at least one internet capable device, operatively coupled for communication with the central server system, with the central server system configured to determine authentication of a cardholder electronic transaction, according to data received from the internet capable device upon a request for verification of the cardholder electronic transaction from the payment institution. The method of the invention generally comprises requesting verification of a cardholder electronic transaction, by a payment institution, from a central server system, contacting, by the central server system, at least one internet capable device associated with the cardholder, determining, by the central server system, if the cardholder electronic transaction is authorized by t…