Classifications

• • G—PHYSICS
  • G07—CHECKING-DEVICES
  • G07F—COIN-FREED OR LIKE APPARATUS
  • G07F19/00—Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
  • G07F19/20—Automatic teller machines [ATMs]
• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; 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
  • G06Q20/00—Payment architectures, schemes or protocols
  • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
  • G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
  • G06Q20/322—Aspects of commerce using mobile devices [M-devices]
  • G06Q20/3223—Realising banking transactions through M-devices
• • G—PHYSICS
  • G06—COMPUTING OR CALCULATING; 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
  • G06Q20/00—Payment architectures, schemes or protocols
  • G06Q20/38—Payment protocols; Details thereof
  • G06Q20/385—Payment protocols; Details thereof using an alias or single-use codes

Definitions

• the present disclosure generally relates internet commerce and, in particular, relates to systems and methods for performing financial transactions.
• customer device' used hereinafter in the specification refers to, but is not limited to, a mobile phone, a desktop, a laptop, a tablet, an iPad, a PDA, a notebook, a net book, a terminal including a wired or a wireless computing/communicating device.
• 'cash-dispensing-receiving machine refers to, but is not limited to, a cash dispenser, a cash machine, a cash depositor, an Automated-Teller-Machine (ATM), a ATM machine, a cashpoint, a chip and pin, and a cash terminal.
• ATM Automated-Teller-Machine
• the term 'communication network' used hereinafter in the specification refers to, but is not limited to, a computer network, an Internet, an Intranet, a Wi-Fi network, Wi-Max network, online network, a Local Area Network (LAN), a Wide Area Network (WAN), a Metropolitan Area Network (MAN), a Near Field Communication (NFC), a Bluetooth network, a Bling network, a cellular network including a wired and a wireless network, and a combination thereof.
• LAN Local Area Network
• WAN Wide Area Network
• MAN Metropolitan Area Network
• NFC Near Field Communication
• Bluetooth network a Bling network
• Bling network a cellular network including a wired and a wireless network, and a combination thereof.
• hackers are able to install a computer chip on the cash-dispensing-receiving machine which will automatically retrieve and store information pertaining to the card which is inserted into the cash-dispensing-receiving machine.
• This type of theft is called 'skimming' and involves installation of a hidden camera at the cash station to capture the punched passwords, typically four digit numbers, and a 'skimmer' attached to the cash-dispensing-receiving machine to read the card number.
• a hidden camera at the cash station to capture the punched passwords, typically four digit numbers
• a 'skimmer' attached to the cash-dispensing-receiving machine to read the card number.
• An object of the present disclosure is to provide a computer implemented system and a method for cardless transactions.
• Another object of the present disclosure is to provide a system for facilitating cardless transactions between a customer device and a cash-dispensing- receiving machine.
• Another object of the present disclosure is to provide a system to withdraw cash from a cash-dispensing-receiving machine securely without using a payment card, particularly a debit card.
• Another object of the present disclosure is to provide a system where the user does not have to disclose a secret personal identification number (PIN) associated with the payment card.
• PIN personal identification number
• Another object of the present disclosure is to provide a system implemented with biometric features for performing high value transactions.
• the present disclosure envisages a computer implemented system and method for performing cardless transactions between a customer device and a cash- dispensing-receiving machine securely.
• the system provides a simple solution for performing a cardless transaction on an existing cash-dispensing-receiving machine.
• the system includes a customer interface which can be installed and accessed on the customer device and a cash machine interface installed and accessed on the cash-dispensing-receiving machine.
• the customer initiates the transaction by requesting for a One Time Password (OTP) via a communication network.
• a transaction server of the system receives the request from the customer device and generates the OTP for the transaction. Further, the transaction server communicates the generated OTP to the customer device via the communication network.
• OTP One Time Password
• the customer can communicate the OTP to the cash-dispensing-receiving machine via the communication network.
• the cash machine interface installed and executed on the cash-dispensing-receiving machine receives the customer communicated OTP and proceeds for the validation of the OTP and completion of the customer initiated transaction either by dispensing cash to the customer or depositing cash for the customer.
• FIGURE 1 describes, a computer implemented system for facilitating cardless transactions between a customer device and a cash-dispensing-receiving machine, in accordance with the present disclosure
• FIGURE 2(a) and 2(b) describes, a flow chart corresponding to the computer implemented method for facilitating cardless transactions between a customer device and a cash-dispensing-receiving machine, in accordance with the present disclosure.
• a customer goes to a cash-dispensing-receiving machine station for the purpose of initiating a monetary transaction.
• Visiting the cash - dispensing-receiving machine station obviates the need for visiting a financial institution each time for withdrawing or depositing a cash amount.
• the customer uses his or her debit card for initiating the transaction and then enters a secret personal identification number (pin) associated with the debit card inserted into the cash -dispensing-receiving machine. This completes the customer initiated transaction either by dispensing or depositing the transaction amount.
• a secret personal identification number pin
• the present disclosure envisages a computer implemented system and method for performing cardless transactions on existing cash -dispensing-receiving machines, interchangeably referred to as Automated Teller Machines (ATMs) or a cash machine.
• ATMs Automated Teller Machines
• the system is accessible via a communication network.
• the system includes two types of interfaces namely, a cash machine interface and a customer interface.
• a financial institution such as a bank, can register with the system by accessing a web application of the system and can install a cash machine interface on a cash machine installed at a particular location. Additionally, the financial institution can be provided with an option to install the cash machine interface on a plurality of cash-dispensing-receiving machines configured at various geographical locations.
• the financial institution is required to register each and every cash-dispensing-receiving machine on which the cash machine interface is installed, with the aforementioned computer implemented system.
• the cash machine is registered with the system using a unique cash-dispensing- receiving machine identification indicia.
• the cash machine interfaces installed and executed on the various cash machines at different locations either directly or indirectly in communication with a cash machine application installed on a server of the financial institution through a third party application.
• the existing cash machine application enables the cash machine interface to access an existing repository to retrieve transaction related information for the purpose of completing a customer initiated transaction.
• a customer or a user can also get registered with the system, for example, by accessing a web application of the system using a customer device, and can install the customer interface on the customer device.
• the system may transmits a verification message to the registered user to confirm the authenticity of the user as a registered user using at least one communication channel accessible to the customer such as an email, a voice mail, a phone call, an instant message, and the like, based on user details provided by the user at the time of registration.
• the verification message may include a username and a password for the customer to login into the customer interface.
• a verification message is also sent to each of the registered cash- dispensing-receiving machine corresponding to the registered financial institution. This is done to check whether the cash machine is functioning properly or not.
• verification messages are sent to the registered cash-dispensing-receiving machine in regular interval to check whether they are functioning properly or not.
• the transaction server transmits a second message entailing a download link of the customer interface to the customer device.
• the customer device is registered with the system using a customer device identification indicia. As the customer device is registered with the customer device indicia and the cash-dispensing-receiving machine is registered with the cash machine identification indicia, enables the system of the present disclosure to identify each party involved in a transaction separately.
• FIGURE 1 illustrates a computer implemented system 100 for facilitating cardless transactions between a customer device 10 and a cash-dispensing- receiving machine 20, in accordance with the present disclosure.
• the system 100 includes a customer interface 110 installed and executed on the customer device 10 accessible to the customer, a cash machine interface 120 installed and executed on the cash-dispensing-receiving machine 20 registered with a financial institution and in communication with a transaction server 130 via a communication network.
• the customer interface 110 includes a first trans-receiver 112 and a biometric module 114.
• the cash machine interface 120 includes a second trans-receiver 122, a dispensing module 124, and a depositing module 126.
• the transaction server 130 includes a customer repository 132, a financial institution repository 134, a third trans-receiver 136, a fourth trans-receiver 138, a One Time Password (OTP) generator 140, and a validation module 142.
• OTP One Time Password
• the customer interface 110 is configured to be identified with corresponding customer device identification indicia.
• the cash machine interface 120 is configured to be identified with the corresponding cash machine identification indicia.
• the customer repository 132 of the transaction server 130 stores customer related information such as customer registration information, customer identification (ID), customer privacy settings, financial account details of the customer, registered customer device identification indicia, and transaction history of the customer.
• the financial institution repository 134 of the transaction server 130 stores cash-dispensing-receiving machine information corresponding to a particular financial institution along with unique cash machine identification indicia for identifying each of the cash machines.
• a registered customer may initiate a transaction by accessing the customer interface 110 on his/her customer device 10 and transmitting a first request to the transaction server 130 for generating an OTP for carrying out the transaction through the first trans-receiver 112 over the communication network.
• the third trans-receiver 136 of the transaction server 130 communicates with the customer interface 110 via the communication network for exchange of information.
• the third trans-receiver 136 receives the first request for generating the OTP from the customer interface 110 and further communicates the first request to the OTP generator 140.
• the first request transmitted to the transaction server 130 from the customer interface 110 can include information pertinent to the customer and/or the intended transaction such as customer ID, customer device identification indicia, a customer financial account details, a transaction amount and a combination thereof.
• the OTP generator 140 based on the information received in the first request generates the OTP for the customer and transmits the generated OTP to the customer device 10 through the third trans-receiver 136 via the communication network. Additionally, the OTP generator 140 stores the generated OTP into the customer repository 132 corresponding to the customer for future reference.
• the first trans-receiver 112 of the customer interface 110 executed on the customer device 10 receives the OTP from the transaction server 130.
• the customer is facilitated to also use an IVR facility to connect with the transaction server 130 via a telecommunication network to create the OTP.
• the generated OTP can be combination of numbers, alphabets (including upper case or lower case) and special characters.
• the customer communicates the received OTP from the transaction server 130 to the cash-dispensing-receiving machine 20 through a communication channel such as an email, an instant message, a voice call, a phone call via the communication network.
• the communication network can be a wired or a wireless network or a combination of both.
• the customer is enabled to communicate the OTP to the cash machine interface 120 manually by entering the OTP via a keypad (not shown in the figures) provided on the cash- dispensing-receiving machine 20.
• the second trans-receiver 122 of the cash machine interface 120 receives the OTP from the customer device 10. To proceed with the transaction initiated by the customer, the cash machine interface 120 transmits a second request via the second trans-receiver 122 to the transaction server 130 over the communication network for the completion of the transaction.
• the forth trans-receiver 138 of the transaction server 130 communicates with the cash machine interface 120 via the communication network and receives the second request.
• the second request transmitted to the transaction server 130 from the cash machine interface 120 may include, among other information, such as cash machine identification indicia, customer communicated OTP, transaction amount, financial institution associated with the customer and financial account details of the customer.
• the forth trans-receiver 138 of the transaction server 130 receives the second request and communicates the second request to the validation module 142.
• the validation module 142 validates the information received, in particular the OTP, by comparing the customer communicated OTP with the OTP generated by the OTP generator 140 for the corresponding customer and stored into the customer repository 132.
• the validation module 142 further validates the customer financial account associated with the customer ID, customer device 10 identification indicia, cash machine identification indicia, financial intuition associated with the customer, financial institution associated with the cash machine and the time limit of the OTP received from the cash machine interface 120.
• the validation module 142 is further configured to check the limit of the financial balance of the customer's financial account in case the transaction type is to dispense the requested transaction amount to the customer. Subsequently, based on positive validation, the validation module 142 transmits a confirmation message to a third party payment gateway to proceed with the customer initiated transaction. The validation module 142 may also transmits a transaction confirmation message to both the customer device 10 received on the customer interface 110 and the cash-dispensing-receiving machine 20 received on the cash machine interface 120.
• the second trans-receiver 122 of the cash machine interface 120 receives the confirmation message from the transaction server 130. Based on the positive validation and confirmation received from the transaction server 130, the dispensing module 124 of the cash machine interface 120 is configured to dispense the transaction amount in the form of cash to the customer as requested. Likewise, based on the positive validation and confirmation received from the transaction server 130, the depositing module 126 of the cash machine interface 120 is configured to deposit the transaction amount from the customer in the form such as cash, cheques, bills and the like, into the customer financial account. The dispensing module 124 and the depositing module 126 of the cash machine interface 120 individually mark completion of the customer initiated transaction and further record the transaction history.
• the OTP generated by the OTP generator 140 can be used for a single instance only.
• the transaction server 130 is enabled to generate an error message and report to customer user and the corresponding financial institution associated with the cash-dispensing-receiving machine 20.
• the OTP After the expiry of the time period of the OTP, the OTP cannot be used for a transaction.
• the OTP is provided with a time limit, after the expiry of which, the OTP becomes invalid.
• the customer interface 110 installed and executed on the customer device 10 can be further protected with a biometric password as per the requirement of the customer.
• the customer interface 110 further includes a biometric module 114 which enables the customer to create a biometric password and also store the biometric password into the customer repository 132 of the transaction server 130.
• the transaction server 130 is enabled to ask the customer to provide the biometric password which can be a finger print, a voice recognition pattern, a face recognition pattern, a palm recognition pattern, an finger geometry recognition pattern, a signature recognition pattern, an eyes-iris recognition pattern, an eyes-retina recognition pattern, and a DNA recognition pattern.
• the biometric password is requested before completing the customer initiated transaction such as before fulfilling the dispensing or depositing the transaction amount as requested by the customer. This feature further strengthens the security and safety of an innocent customer making a transaction.
• all the transaction steps are controlled by the customer. For example, even if the customer device 10 is stolen along with the user account details, financial transactions cannot be performed as the system 100 is provided with the functionality for receiving and authenticating username and password and/or a photograph of the customer each time the customer transmits the first request to the transaction server 130 for initiating the transaction.
• the customer is provided with a physical card.
• This can be a dummy card configured to activate the existing cash-dispensing-receiving machines 20.
• This card is provided to the customers to comply with the needs of the existing cash-dispensing-receiving machines 20.
• the cash machine interface 120 requests the customer to provide the OTP through a manually entry or via a communication network.
• FIGURE 2(a) and 2(b) illustrates a flow chart corresponding to a method for implementing for a computer implemented system for facilitating cardless transactions between a customer device and a cash-dispensing- receiving machine.
• the computer implemented method includes the following steps:
• the step of communicating the OTP to the cash machine interface further includes the step of submitting the OTP manually by entering the OTP via a keypad provided on the cash-dispensing- receiving machine.
• the step of communicating the OTP to the cash machine interface further includes the step of communicating the OTP to the cash machine interface via a wired or a wireless communication.
• the step of validating, at the transaction server further includes the step of transmitting a confirmation message to a third party payment gateway to proceed with the customer initiated transaction.
• the step of validating, at the transaction server further includes the step of requesting and receiving a biometric password from the customer device for high valued transactions.

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• Business, Economics & Management (AREA)
• Accounting & Taxation (AREA)
• Physics & Mathematics (AREA)
• General Physics & Mathematics (AREA)
• Engineering & Computer Science (AREA)
• Finance (AREA)
• Strategic Management (AREA)
• General Business, Economics & Management (AREA)
• Theoretical Computer Science (AREA)
• Computer Networks & Wireless Communication (AREA)
• Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Applications Claiming Priority (2)

Publications (2)

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Family Applications (1)

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Cited By (4)

Family Cites Families (2)

• 2013
  • 2013-08-27 IN IN2789MU2013 patent/IN2013MU02789A/en unknown
• 2014
  • 2014-08-27 WO PCT/IN2014/000549 patent/WO2015029064A2/en not_active Ceased

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