Security transaction system for financial data

Details Security transaction system for financial data Security transaction system for financial data

1983-09-13

1989-04-25

Trafton, David L.

Registers

Systems controlled by data bearing records

Banking systems

380 29, 380 45, 902 2, G06F 1530

Patent

active

048250503

ABSTRACT:
A system for a data protection executing financial transactions employing cryptographic techniques. The system comprises an encoded card, which has been initially encrypted using the National Bureau of Standards Data Encryption Standard Algorithm. A subsequent encryption utilizes a private key of a public key cryptosystem is completed resulting in an account number and an uncoded identifier which are placed on the card. The encoded card may be placed in a sender unit which decrypts the public key. The user that enters a personal identifier in the sender unit. The data is transferred to a receiving unit that decrypts the transmitted data utilizing the private key which is unknown to both the user and the sender unit.

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patent: 4503287 (1985-03-01), Morris et al.
patent: 4578530 (1986-03-01), Zeidler

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