System and method for electronic wallet conversion

US8473355B2 · kind B2 · utility

Assignee

• FACEBOOK, INC. · US

Inventors

• Benjamin Quigley · Reston, US
• Robert Sandler · Melville, US
• Fletcher Jones · Vidalia, US
• Rajesh Mahajan · Fremont, US
• Prakash Muppirala · San Jose, US
• David Lowe · Foster City, US
• Laura Price · Durham, US
• Seth Goldstein · New York, US
• Venkatesh Subramanya · Fremont, US
• Jai Rawat · Sunnyvale, US

Key dates

• Filing date: Oct 20, 2003
• Grant date: Jun 25, 2013
• Expiry date: Apr 15, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/1025
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system and method for electronic wallet conversion allows conversion of a basic electronic wallet to a more flexible wallet account, providing additional services and requiring additional authentication. The basic accountholder eventually requires the additional services provided by the more flexible wallet, typically editing rights and making purchases at sites requiring authentication beyond the basic level. To convert the account, the account holder is presented with a one-time challenge and response mechanism that requires the accountholder to summon information that only the account holder would know. If a successful match is made, the account is converted to the more flexible account for all time. The accountholder replaces the one-time challenge and response with a second-level password that grants the accountholder ongoing access to more sensitive wallet features, such as the ability to purchase at sites requiring a second-level password, and editing rights to the information stored in the wallet.