Method and system for generating a dynamic verification value
US7761374B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2003 |
| Grant date | Jul 20, 2010 |
| Priority date | — |
| Expiry date | Aug 29, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/1008
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods and systems for dynamically generating a verification value for a transaction and for utilizing such value to verify the authenticity of the payment service application. The dynamically created verification value may be generated on a payment device, such as an integrated circuit credit card or smart card, embedded into the payment data, and transmitted to a point of sale terminal. Alternatively, payment data is sent by a payment device to a point of sale terminal, which generates a verification value and embeds it into the payment data. The embedded verification value is used by a service provider to verify the authenticity of the transaction. The methods and systems may be used in a contactless (wireless) environment or a non-wireless environment.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.