Method and system for secure handling of electronic financial transactions

A method for secure handling of electronic financial transactions between users by using a computer-implemented system, wherein

• secure handling of electronic financial services is effected by means of:
• an electronic financial services exchanger,
• a communication device associated with a first user in the role of the transaction initiator, connected by an interface to the electronic financial services exchanger,
• a communication device associated with a second user in the role of the transaction handler, connected by an interface to the electronic financial services exchanger,
• at least one financial account associated with a first user serviced by at least one financial services provider,
• at least one financial account associated with a second user serviced by at least one financial services provider,
• at least one transaction handling system associated with at least one financial services provider for accessing the financial accounts and of each of the users, respectively,
• comprising the steps
• assigning each user to the electronic financial services exchanger sing communication devices by the users entering a dedicated ID code and a secret code or other characteristic information of that user into communication devices for communication to the electronic financial services exchanger
• authenticating the said users using the secret or characteristic information of users saved in the electronic financial services exchanger by the electronic financial services exchanger comparing the communicated assignment data of the users to the secret information saved in the electronic financial services exchanger,
• initiating a financial service transaction by the transaction initiator,
• entering the transaction parameters in a communication device by either party,
• secure communication of the transaction parameters to the electronic financial services exchanger by said communication device,
• allocating a token representing the initiated financial service transaction and the data thereof by the electronic financial services exchanger,
• communicating the token to the communication device of the transaction initiator by the electronic financial services exchanger,
• communicating the token from the transaction initiator to the other user,
• accepting the token in the communication device of the other user,
• communicating the token together with the user ID from the other user to the electronic financial services exchanger by a communication device,
• establishing the financial services providers associated with the transaction partners by the electronic financial services exchanger,
• requesting the transaction handling systems to handle the transaction by the electronic financial services exchanger,
• handling the transaction by the transaction handling systems using the financial accounts of the users,
• evaluating the response messages from the transaction handling systems of the users by the electronic financial services exchanger,
• sending messages acknowledging handling of the transaction to the communication devices employed by the users by the electronic financial services exchanger.

A computer implemented system for performing one or more of the methods for secure handling of electronic financial transactions between users,

• said system comprising an exchanging layer between an internal layer dedicated to at least one financial services provider administering accounts and corresponding funds for said users and an external layer accessible to said users via communication devices, said internal layer being encapsulated by the exchanging layer and thus protected against the external layer,
• wherein a token representing parameters of an intended transaction between users in the roles of a potential transferee and a potential transferor
• is to be generated in the exchanging layer upon the request of the potential transferee,
• is to be communicated to the potential transferor and
• is to be sent back to the exchanging layer together with information which identifies the potential transferee,
• whereupon said exchanging layer is to prompt a transfer of funds from accounts administered in the internal layer for the potential transferor to accounts administered in the internal layer for the potential transferee.

A computer implemented system for performing one or more of the methods for secure handling of electronic financial transactions between users which comprises

• an electronic financial services exchanger for central control of the complete method, comprising
• a user data storage for storing the data of all registered users, the financial account data to the accounts of the said users,
• a services provider data storage for storing the data of financial services providers including the access data to the transaction handling systems,
• at least one communication device for use by a user and connected via an interface to the electronic financial services exchanger,
• at least one financial account associated with a first user and serviced by the financial services provider,
• at least one transaction handling system assigned to a financial services provider for performing electronic transactions, preferably electronic crediting, on the financial account of the user and connected via an interface to the electronic financial services exchanger,
• at least one communication device for use by a second user and connected via an interface to the electronic financial services exchanger,
• at least one financial account associated with the first user and serviced by a financial services provider,
• at least one transaction handling system assigned to a financial services provider for performing electronic transactions, preferably electronic debiting on a financial account of the second user and connected via an interface to the electronic financial services exchanger.