WO2009073900A3 - A method of conducting financial transactions - Google Patents

A method of conducting financial transactions Download PDF

Info

Publication number
WO2009073900A3
WO2009073900A3 PCT/ZA2008/000120 ZA2008000120W WO2009073900A3 WO 2009073900 A3 WO2009073900 A3 WO 2009073900A3 ZA 2008000120 W ZA2008000120 W ZA 2008000120W WO 2009073900 A3 WO2009073900 A3 WO 2009073900A3
Authority
WO
WIPO (PCT)
Prior art keywords
authentication
user
handset
transmitting
answers
Prior art date
Application number
PCT/ZA2008/000120
Other languages
French (fr)
Other versions
WO2009073900A2 (en
Inventor
Jason Smit
Elsabe Van Vuuren
Original Assignee
Swap Cellphone Payment System (Pty) Ltd.
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Swap Cellphone Payment System (Pty) Ltd. filed Critical Swap Cellphone Payment System (Pty) Ltd.
Publication of WO2009073900A2 publication Critical patent/WO2009073900A2/en
Publication of WO2009073900A3 publication Critical patent/WO2009073900A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/02—Marketing; Price estimation or determination; Fundraising

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Development Economics (AREA)
  • Strategic Management (AREA)
  • Finance (AREA)
  • Game Theory and Decision Science (AREA)
  • Entrepreneurship & Innovation (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

The invention provides a method of authenticating a user in a method of conducting real time transactions, said authentication method including requesting authentication by a user transmitting a USSD code from a handset to a server, transmitting one or more questions to the handset of the requester, transmitting answers provided by the user through the handset to an authentication server over a mobile communications network, weighting the questions, evaluating the answers, and determining whether the weighted score of the answers is above a minimum passmark before the authentication server authenticates the user for the transaction or rejects the request for authentication. The invention extends to a method of conducting on-line real time transactions using the above authentication method and to a payment system.
PCT/ZA2008/000120 2007-12-03 2008-12-02 A method of conducting financial transactions WO2009073900A2 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
ZA200710445 2007-12-03
ZA2007/10445 2007-12-03

Publications (2)

Publication Number Publication Date
WO2009073900A2 WO2009073900A2 (en) 2009-06-11
WO2009073900A3 true WO2009073900A3 (en) 2010-04-15

Family

ID=40718506

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/ZA2008/000120 WO2009073900A2 (en) 2007-12-03 2008-12-02 A method of conducting financial transactions

Country Status (2)

Country Link
WO (1) WO2009073900A2 (en)
ZA (1) ZA200810215B (en)

Families Citing this family (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US10607224B2 (en) 2016-04-04 2020-03-31 Mastercard International Incorporated Systems and methods for secure authentication of transactions initiated at a client device
US10091007B2 (en) 2016-04-04 2018-10-02 Mastercard International Incorporated Systems and methods for device to device authentication

Citations (4)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20040123162A1 (en) * 2002-12-11 2004-06-24 Lightbridge, Inc. Methods and systems for authentication
US20050086535A1 (en) * 2003-10-21 2005-04-21 Siemens Aktiengesellschaft Method for authenticating a user for the purposes of establishing a connection from a mobile terminal to a WLAN network
US20060271629A1 (en) * 2005-05-26 2006-11-30 Macdowell Alexander D Distributed Challenge and Response Recognition System
US20070136128A1 (en) * 2005-12-12 2007-06-14 Thomas Andrew Janacek Method and system to provide electronic parking validation for drivers using a pay by cell parking system

Patent Citations (4)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20040123162A1 (en) * 2002-12-11 2004-06-24 Lightbridge, Inc. Methods and systems for authentication
US20050086535A1 (en) * 2003-10-21 2005-04-21 Siemens Aktiengesellschaft Method for authenticating a user for the purposes of establishing a connection from a mobile terminal to a WLAN network
US20060271629A1 (en) * 2005-05-26 2006-11-30 Macdowell Alexander D Distributed Challenge and Response Recognition System
US20070136128A1 (en) * 2005-12-12 2007-06-14 Thomas Andrew Janacek Method and system to provide electronic parking validation for drivers using a pay by cell parking system

Also Published As

Publication number Publication date
WO2009073900A2 (en) 2009-06-11
ZA200810215B (en) 2009-11-25

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