US 5,956,699 A · System for secured credit card transactions on the internet

Abstract

A method for providing secure credit card transactions over the Internet generates a personal charge number from a user account number by inserting a user key into the user account number in accordance with an algorithm that uses a user insertion key and a permutation variable. After the personal charge number is used, the permutation variable is changed, and a new personal charge number is generated. A money source repository verifies the validity of the personal charge number by using the personal charge number and a user identifier to access a file with the user account number, the user key and the user insertion key, taking into account which permutation variable is valid at a given point in time. Alternatively, the money source repository could generate a string of valid personal charge numbers for a user which are sequentially accessed according to usage.

Claims18

Dependent claims

A method for providing secure transactions between a first entity and at least one additional entity, comprising the steps of:

(1) assigning a user account number to the first entity;
(2) generating a record associated with the first entity with a money source repository which includes the user account number of the first entity, a user key, a user insertion key and a first entity identifier;
(3) generating a personal charge number from the user account number by inserting the user key into the user account number in accordance with an algorithm that uses the user insertion key and a permutation variable;
(4) transferring the personal charge number and the first entity identifier to a second entity;
(5) transmitting the personal charge number, the first entity identifier, a transaction monetary value and a second entity identifier from the second entity to the money source;
(6) verifying that the personal charge number is valid for the first entity;
(7) providing the second entity with a monetary credit associated with the transaction monetary value;
and
(8) charging the first entity with a charged credit associated with the transaction monetary value.

6 more elements

A method for providing secure transactions between a first entity and at least one additional entity, comprising the steps of:

(1) creating a record of a plurality of personal charge numbers for a first entity with a first entity identifier in a money source repository from a user account number of the first entity, a user key and a user insertion key by inserting the user key into the user account number in accordance with an algorithm that uses the user insertion key and a permutation variable which is varied to create each of the plurality of personal charge numbers;
(2) selecting a first of the plurality of personal charge numbers as being valid within the record to create a valid personal charge number associated with the first entity identifier;
(3) transferring the valid personal charge number and the first entity identifier to a second entity;
(4) transmitting the valid personal charge number, the first entity identifier, and a transaction monetary value from the second entity to the money source repository;
(5) verifying that the valid personal charge number is valid for the first entity;
(6) changing the first of the plurality of personal charge numbers to an invalid state and creating a new valid personal charge number from one of the remaining plurality of personal charge numbers;
(7) providing the second entity with a monetary credit associated with the transaction monetary value;
and
(8) charging the first entity with a charged credit associated with the transaction monetary value.

6 more elements

Dependencies are inferred from the claim text.

System for secured credit card transactions on the internet

Life of this patent

System for secured credit card transactions on the internet

Life of this patent

Abstract

Claims18