System and method providing secure credit or debit transactions across unsecure networks
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United States of America Patent
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Sep 14, 2010
Grant Date -
Aug 14, 2008
app pub date -
Feb 13, 2007
filing date -
Feb 14, 2001
priority date (Note) -
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Abstract
A system and method for providing secure credit and debit transactions across unsecure data networks. The present invention provides a one-time-use combination of account number, PIN, and added factors. A merchant terminal receives a customer identifier such as a PIN from a customer and combines secret information with the PIN when the terminal sends the PIN to an authorization server. The secret information is stored in an indexed database protected by a mechanical switch, which must be physically closed to access the database. The database may be implemented in the merchant terminal or in a customer device in communication with the merchant terminal. The authorization server provides an index pointing to one or more secret factors to be combined with the PIN for each given transaction.
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