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System and method for a secure transaction module

A security transaction and transaction system technology, applied in the system field of security transaction module, can solve the problem of high transaction fee

Active Publication Date: 2007-12-26
WAY SYST +3
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

As a result, the merchant pays significantly higher transaction fees for CNP transactions than those for card-present transactions

Method used

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  • System and method for a secure transaction module
  • System and method for a secure transaction module
  • System and method for a secure transaction module

Examples

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Embodiment Construction

[0023] The present invention relates to a system and method for a Secure Transaction Module (STM) that performs electronic transactions by interacting with a payment or authentication card. Referring to FIG. 1 , the secure transaction system 90 includes an STM 100 connected to a host device 200 through an interface 120 . STM 100 utilizes communication modem 210 of the host device to connect to financial institution 250 via network 220 to perform secure electronic transactions. In one example, host device 200 is a mobile phone. In other examples, host device 200 may be a personal digital assistant (PDA), computer, set-top box, vending machine, wired telephone, point-of-sale (POS) terminal, computer controlling an Take the electronic lock. The standalone STM 100 can be certified as a POS module and complies with Payment Card Industry (PCI) Pin Entry Device (PED) certification requirements. The STM 100 can also be certified to comply with European Mastercard Visa (EMV) Level 1...

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Abstract

A secure electronic payment transaction system includes a Secure Transaction Module (STM) and a host device. The STM includes hardware and software components that meet the security requirements of the payment card industry and provide secure payment transactions utilizing banking cards. The host device includes a communication modem for connecting to financial institutions via a network connection. The STM connects to the host device via an interface and communicates with the financial institutions via the host device's communication modem. The STM is self-sufficient and can be connected to any host device over any interface.

Description

[0001] Cross-references to related co-pending applications [0002] This application claims the benefit of U.S. Provisional Patent Application Serial No. 60 / 611,455, filed September 20, 2004, entitled "SYSTEM AND METHOD FOR A SECURE TRANSACTION MODULE," which The US Provisional Application is commonly assigned and the contents of which are expressly incorporated herein by reference. technical field [0003] The present invention relates to systems and methods for a secure transaction module, and more particularly to a secure transaction module that performs electronic transactions by interacting with a payment or authentication card. Background technique [0004] Payment transactions have evolved from hard currency to checks and cards. Bank cards, including credit and debit cards, store a customer's account number and other necessary information for conducting payment transactions. This information is stored in the magnetic stripe of a magnetic stripe card, or in an embedd...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q99/00
CPCG06Q20/10G06Q20/367G06Q20/382G06Q20/40G06Q30/06G07F7/1016H04L9/3234H04L2209/56G06Q20/3829
Inventor 安德鲁·彼得洛夫斯科特·戈德思韦特威廉·格雷林
Owner WAY SYST
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