ZA202211085B - A method of securing a payment card transaction - Google Patents
A method of securing a payment card transactionInfo
- Publication number
- ZA202211085B ZA202211085B ZA2022/11085A ZA202211085A ZA202211085B ZA 202211085 B ZA202211085 B ZA 202211085B ZA 2022/11085 A ZA2022/11085 A ZA 2022/11085A ZA 202211085 A ZA202211085 A ZA 202211085A ZA 202211085 B ZA202211085 B ZA 202211085B
- Authority
- ZA
- South Africa
- Prior art keywords
- otdc
- cardholder
- issuing bank
- payment card
- transaction
- Prior art date
Links
- 230000005540 biological transmission Effects 0.000 abstract 1
- 230000002401 inhibitory effect Effects 0.000 abstract 1
Classifications
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L9/00—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
- H04L9/06—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols the encryption apparatus using shift registers or memories for block-wise or stream coding, e.g. DES systems or RC4; Hash functions; Pseudorandom sequence generators
- H04L9/065—Encryption by serially and continuously modifying data stream elements, e.g. stream cipher systems, RC4, SEAL or A5/3
- H04L9/0656—Pseudorandom key sequence combined element-for-element with data sequence, e.g. one-time-pad [OTP] or Vernam's cipher
- H04L9/0662—Pseudorandom key sequence combined element-for-element with data sequence, e.g. one-time-pad [OTP] or Vernam's cipher with particular pseudorandom sequence generator
-
- 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
- G06Q30/018—Certifying business or products
-
- 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
- G06Q30/06—Buying, selling or leasing transactions
- G06Q30/0601—Electronic shopping [e-shopping]
- G06Q30/0609—Buyer or seller confidence or verification
-
- 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
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/02—Banking, e.g. interest calculation or account maintenance
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L63/00—Network architectures or network communication protocols for network security
- H04L63/08—Network architectures or network communication protocols for network security for authentication of entities
- H04L63/083—Network architectures or network communication protocols for network security for authentication of entities using passwords
- H04L63/0838—Network architectures or network communication protocols for network security for authentication of entities using passwords using one-time-passwords
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L9/00—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
- H04L9/08—Key distribution or management, e.g. generation, sharing or updating, of cryptographic keys or passwords
- H04L9/0861—Generation of secret information including derivation or calculation of cryptographic keys or passwords
- H04L9/0863—Generation of secret information including derivation or calculation of cryptographic keys or passwords involving passwords or one-time passwords
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L2209/00—Additional information or applications relating to cryptographic mechanisms or cryptographic arrangements for secret or secure communication H04L9/00
- H04L2209/56—Financial cryptography, e.g. electronic payment or e-cash
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L63/00—Network architectures or network communication protocols for network security
- H04L63/18—Network architectures or network communication protocols for network security using different networks or channels, e.g. using out of band channels
Landscapes
- Engineering & Computer Science (AREA)
- Business, Economics & Management (AREA)
- Finance (AREA)
- Accounting & Taxation (AREA)
- Theoretical Computer Science (AREA)
- General Business, Economics & Management (AREA)
- Signal Processing (AREA)
- Development Economics (AREA)
- Economics (AREA)
- Computer Networks & Wireless Communication (AREA)
- Marketing (AREA)
- Strategic Management (AREA)
- Physics & Mathematics (AREA)
- Computer Security & Cryptography (AREA)
- General Physics & Mathematics (AREA)
- Entrepreneurship & Innovation (AREA)
- Technology Law (AREA)
- Computer Hardware Design (AREA)
- Computing Systems (AREA)
- General Engineering & Computer Science (AREA)
- Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
- Control Of Vending Devices And Auxiliary Devices For Vending Devices (AREA)
Abstract
A system for preventing or inhibiting Payment Card fraud. When a Payment Card transaction is initiated, the card network conveys cardholder identifying information to the bank that issued the Payment Card. The issuing bank generate a random, one time data code (OTDC) upon receipt of cardholder identifying information. Alternatively, the cardholder may request an OTDC, by directly messaging the issuing bank or via an automated communication between the cardholder's mobile device and the issuing bank. The issuing bank then sends the cardholder an OTDC, preferably via an encrypted, secured transmission. The cardholder provides the OTDC to the merchant. The OTDC is part of the issuing bank's transaction approval criteria. The transaction should not be approved unless the merchant provides the OTDC to the issuing bank. The OTDC will only work for the transaction in question, and it will preferably expire shortly after its generation, if it remains unused.
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US202062987402P | 2020-03-10 | 2020-03-10 | |
PCT/US2021/021774 WO2021183688A1 (en) | 2020-03-10 | 2021-03-10 | A method of securing a payment card transaction |
Publications (1)
Publication Number | Publication Date |
---|---|
ZA202211085B true ZA202211085B (en) | 2024-02-28 |
Family
ID=77671962
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
ZA2022/11085A ZA202211085B (en) | 2020-03-10 | 2022-10-10 | A method of securing a payment card transaction |
Country Status (8)
Country | Link |
---|---|
EP (1) | EP4118558A4 (en) |
CN (1) | CN115605900A (en) |
AU (1) | AU2021233841A1 (en) |
BR (1) | BR112022018239A2 (en) |
CA (1) | CA3170260A1 (en) |
MX (1) | MX2022011100A (en) |
WO (1) | WO2021183688A1 (en) |
ZA (1) | ZA202211085B (en) |
Family Cites Families (7)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
EP1646976A4 (en) * | 2003-06-04 | 2008-02-27 | Mastercard International Inc | Customer authentication in e-commerce transactions |
US7841523B2 (en) * | 2007-05-17 | 2010-11-30 | Shift4 Corporation | Secure payment card transactions |
US20090222383A1 (en) * | 2008-03-03 | 2009-09-03 | Broadcom Corporation | Secure Financial Reader Architecture |
US20100241571A1 (en) * | 2009-03-20 | 2010-09-23 | Mcdonald Greg | System and method for cardless secure on-line credit card/debit card purchasing |
US8527417B2 (en) * | 2010-07-12 | 2013-09-03 | Mastercard International Incorporated | Methods and systems for authenticating an identity of a payer in a financial transaction |
US20140279499A1 (en) * | 2013-03-12 | 2014-09-18 | Larry J. Kane | Single use qr code authorization system |
SG10201708440TA (en) * | 2017-10-12 | 2019-05-30 | Mastercard International Inc | Computer system and computer-implemented method for processing payment card transactions |
-
2021
- 2021-03-10 BR BR112022018239A patent/BR112022018239A2/en unknown
- 2021-03-10 MX MX2022011100A patent/MX2022011100A/en unknown
- 2021-03-10 CN CN202180033778.0A patent/CN115605900A/en active Pending
- 2021-03-10 CA CA3170260A patent/CA3170260A1/en active Pending
- 2021-03-10 AU AU2021233841A patent/AU2021233841A1/en active Pending
- 2021-03-10 WO PCT/US2021/021774 patent/WO2021183688A1/en unknown
- 2021-03-10 EP EP21768819.1A patent/EP4118558A4/en active Pending
-
2022
- 2022-10-10 ZA ZA2022/11085A patent/ZA202211085B/en unknown
Also Published As
Publication number | Publication date |
---|---|
EP4118558A4 (en) | 2024-03-27 |
AU2021233841A1 (en) | 2022-11-03 |
BR112022018239A2 (en) | 2022-10-25 |
MX2022011100A (en) | 2023-01-11 |
CN115605900A (en) | 2023-01-13 |
CA3170260A1 (en) | 2021-09-16 |
WO2021183688A1 (en) | 2021-09-16 |
EP4118558A1 (en) | 2023-01-18 |
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