System for secured credit card transactions on the internet

Details System for secured credit card transactions on the internet System for secured credit card transactions on the internet

1997-11-17

1999-09-21

Tkacs, Stephen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

235380, 34082533, 380 23, 380 24, 380 42, 380 43, 705 26, 705 44, G06F 1760

Patent

active

059566990

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.

REFERENCES:
patent: 5557518 (1996-09-01), Rosen
patent: 5671280 (1997-09-01), Rosen

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