Registers – Systems controlled by data bearing records – Credit or identification card systems
Reexamination Certificate
2006-07-11
2008-03-25
Kim, Ahshik (Department: 2876)
Registers
Systems controlled by data bearing records
Credit or identification card systems
C235S382000, C235S383000
Reexamination Certificate
active
07347361
ABSTRACT:
A system, method and program product for account transaction validation which may be downloaded or otherwise installed on a networked computing device such as a cell phone or other networked computing device. The networked computing device provides an encrypted validation code to a merchant for each transaction. The validation code is uniquely computed for each transaction and may be based on transaction time and/or other transaction data. The code algorithm is unique for each cardholder. Only the bank transaction center has knowledge of the particular algorithm for each cardholder. When transaction details such as transaction dollar amount are included in the generation of the code, the code may be used to validate the reported transaction dollar amount. An algorithm is disclosed for generating a unique code based on time and/or transaction dollar amount.
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Kim Ahshik
Richards James
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