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US 8,543,497 B1Granted
Secure authentication payment system
OwnerHossein Mohsenzadehinventor
Life of this patent
Estimating the term…
Abstract
A transaction and payment and processing system securely conducts transactions over the public telephone network. The transactions may be between and among entities of any type such as individuals, merchants, utilities, banks, etc. Nothing more than access to a telephone is required after initial registration of a user.
Claims47
A method of conducting a purchase transaction, comprising:
- storing and linking a purchaser financial account information to a purchaser telephone identifier in a database;
- receiving at a server a message to authorize the purchase transaction, the message includes at least a purchaser telephone identifier;
- validating by matching the received purchaser telephone identifier to the stored purchaser telephone identifier.
A method of conducting a financial transaction between originator and a target, comprising:
- receiving, at a server, a message in connection with the said financial transaction, the message includes at least an originator telephone identifier;
- retrieving a first password stored in a database based on the originator telephone identifier;
- receiving a second password from the originator to authenticate the financial transaction by matching the second password to the first password;
- upon said matching, approving the financial transaction.
1 more element
Dependencies are inferred from the claim text.