Method of performing authentication for a transaction and a system thereof

A system comprising:

• a server;
• a first device capable of communicating with the server;
• and
• a second device capable of communicating with the server,
• wherein:
• the first device comprises:
• a memory;
• and
• at least one processor communicatively coupled to the memory and configured to:
• generate a first random number and encrypt the first random number based on a first key of a first private-public key pair;
• send the encrypted first random number to the server;
• receive a transaction identifier for a transaction between the first device and the second device, the first random number and a second random number from the server, wherein the transaction identifier, the first random number and the second random number are encrypted based on a first key of a second private-public key pair;
• decrypt the encrypted transaction identifier, the encrypted first random number and the encrypted second random number received based on a second key of the second private-public key pair;
• verify the first random number decrypted based on a comparison of the first random number decrypted with the first random number originally generated by the first device;
• and
• send the transaction identifier, and the second random number to the second device via a communication channel between the first and second devices for authenticating the first device for the transaction between the first device and the second device based on a comparison of the second random number received and sent by the second device to the server with the second random number originally generated by the server;
• the second device comprises:
• a memory;
• and
• at least one processor communicatively coupled to the memory and configured to:
• receive a first identifier associated with the first device from the first device;
• send the transaction identifier and the first identifier to the server;
• receive the third random number associated with the second device from the server, wherein the third random number is encrypted based on a first key of a third private-public key pair;
• and
• send the second random number received from the first device to the server for authenticating the first device for the transaction based on the comparison of the second random number sent by the second device to the server with the second random number originally generated by the server, the second random number being associated with the first device;
• and
• the server comprises:
• a memory;
• and
• at least one processor communicatively coupled to the memory and configured to:
• receive the transaction identifier and the first identifier from the second device;
• generate the second random number and the third random number associated with the second device;
• encrypt the second random number and the third random number based on the first key of the second private-public key pair and the first key of the third private-public key pair, respectively;
• send the encrypted second random number and the encrypted third random number to the first device and the second device, respectively;
• and
• receive the second random number and the third random number from the second device and the first device, respectively, for authenticating the first device and the second device for the transaction based on a comparison of the second random number received with the second random number originally generated by the server and a comparison of the third random number received with the third random number originally generated by the server.

A computer program product, embodied in one or more non-transitory computer-readable storage mediums, comprising instructions executable by at least one processor to perform a method of performing authentication for a transaction between a first device and a second device, the method comprising:

• generating, at the first device, a first random number and encrypting the first random number based on a first key of a first private-public key pair;
• sending, by the first device, the encrypted first random number to a server;
• receiving, at the first device, a transaction identifier for the transaction between the first device and the second device, the first random number and a second random number from the server, wherein the transaction identifier, the first random number and the second random number are encrypted based on a first key of a second private-public key pair;
• decrypting, at the first device, the encrypted transaction identifier, the encrypted first random number and the encrypted second random number received based on a second key of the second private-public key pair;
• verifying, at the first device, the first random number decrypted based on a comparison of the first random number decrypted with the first random number originally generated by the first device;
• sending, by the first device, the transaction identifier and the second random number to the second device via a communication channel between the first and second devices for authenticating the first device for the transaction between the first device and the second device based on a comparison of the second random number received and sent by the second device to the server with the second random number originally generated by the server;
• receiving, at the second device, a first identifier associated with the first device from the first device;
• sending, by the second device, the transaction identifier and the first identifier to the server;
• receiving, at the second device, the third random number associated with the second device from the server, wherein the third random number is encrypted based on a first key of a third private-public key pair;
• sending, by the second device, the second random number received from the first device to the server for authenticating the first device for the transaction based on the comparison of the second random number sent by the second device to the server with the second random number originally generated by the server, the second random number being associated with the first device;
• receiving, at the server, the transaction identifier and the first identifier from the second device;
• generating, at the server, the second random number associated with the first device and the third random number associated with the second device;
• encrypting, at the server, the second random number and the third random number based on the first key of the second private-public key pair and the first key of the third private-public key pair, respectively;
• sending, at the server, the encrypted second random number and the encrypted third random number to the first device and the second device, respectively;
• and
• receiving, at the server, the second random number and the third random number from the second device and the first device, respectively, for authenticating the first device and the second device for the transaction based on a comparison of the second random number received with the second random number originally generated by the server and a comparison of the third random number received with the third random number originally generated by the server.