Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Patent
1995-03-20
1998-10-20
Hayes, Gail O.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
705 39, 705 40, 705 43, H04M 1700, H04M 1100
Patent
active
058262458
ABSTRACT:
Verification information is provided with respect to a transaction between an initiating party and a verification-seeking party, the verification information being given by a third, verifying party, based on confidential information in the possession of the initiating party. On behalf of the initiating party, first and second tokens are generated, each of which represents some but not all of the confidential information. The first token is sent electronically via a nonsecure communication network from the initiating party to the verification-seeking party. The second token is sent electronically via a nonsecure communication network from the initiating party to the verifying party. Verification information is sent electronically via a nonsecure communication network from the verifying party to the verification-seeking party. The invention is useful, for example, in obtaining authorization of credit card transactions made via a nonsecure communication network, such as the INTERNET, while reducing the chance for credit card fraud.
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Hayes Gail O.
Tkacs Stephen R.
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