WO2006094316A3 - System for processing financial transactions - Google Patents
System for processing financial transactions Download PDFInfo
- Publication number
- WO2006094316A3 WO2006094316A3 PCT/ZA2006/000022 ZA2006000022W WO2006094316A3 WO 2006094316 A3 WO2006094316 A3 WO 2006094316A3 ZA 2006000022 W ZA2006000022 W ZA 2006000022W WO 2006094316 A3 WO2006094316 A3 WO 2006094316A3
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- transaction
- bank server
- cell phone
- code
- stored
- Prior art date
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
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/38—Payment protocols; Details thereof
- G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
-
- 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
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/20—Point-of-sale [POS] network systems
-
- 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
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/38—Payment protocols; Details thereof
- G06Q20/42—Confirmation, e.g. check or permission by the legal debtor of payment
- G06Q20/425—Confirmation, e.g. check or permission by the legal debtor of payment using two different networks, one for transaction and one for security confirmation
Abstract
A financial transaction verification system wherein, when a cell phone is used in a transaction, a bank server transmits a transaction authorisation code to the cell phone, and the code is stored in a secure memory of the cell phone. A duplicate of the transaction authorisation code is stored in the bank server. A POS terminal processes the transaction and records transaction data, including customer account data, which is transmitted to the bank server. The bank server uses the account data to verify customer identification and available balance, and transmits a transaction authorisation request to the POS terminal. The transaction authorisation code stored in the secure memory of the cell phone is then entered into the POS terminal and transmitted to the bank server. The bank server compares the received code to the transaction authorisation code previously stored in the bank server to determine if the transaction should proceed.
Priority Applications (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
ZA200606754A ZA200606754B (en) | 2005-02-14 | 2006-08-14 | GSM Transaction Management System |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
ZA200501285 | 2005-02-14 | ||
ZA2005/01285 | 2005-02-14 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2006094316A2 WO2006094316A2 (en) | 2006-09-08 |
WO2006094316A3 true WO2006094316A3 (en) | 2009-05-07 |
Family
ID=36941918
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/ZA2006/000022 WO2006094316A2 (en) | 2005-02-14 | 2006-02-14 | System for processing financial transactions |
Country Status (2)
Country | Link |
---|---|
WO (1) | WO2006094316A2 (en) |
ZA (1) | ZA200606754B (en) |
Families Citing this family (10)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
BRPI0715284A2 (en) | 2006-09-29 | 2013-07-16 | Dan Scammell | system and method for verifying user identity in electronic transactions |
AU2008209321A1 (en) * | 2007-01-25 | 2008-07-31 | A & Mt Projects Pty Limited | Multi factor authorisations utilising a closed loop information management system |
WO2011050811A2 (en) * | 2009-10-28 | 2011-05-05 | Mspay Aps | Transaction method and system |
US10042589B2 (en) | 2015-03-11 | 2018-08-07 | Secure Cloud Systems, Inc. | Encrypted data storage and retrieval system |
US11329963B2 (en) | 2018-02-22 | 2022-05-10 | Eclypses, Inc. | System and method for securely transferring data |
US11012722B2 (en) | 2018-02-22 | 2021-05-18 | Secure Cloud Systems, Inc. | System and method for securely transferring data |
US11405203B2 (en) | 2020-02-17 | 2022-08-02 | Eclypses, Inc. | System and method for securely transferring data using generated encryption keys |
CN111932127B (en) * | 2020-08-11 | 2021-09-14 | 宁波威源软件有限公司 | Intelligent manufacturing production management system |
US11522707B2 (en) | 2021-03-05 | 2022-12-06 | Eclypses, Inc. | System and method for detecting compromised devices |
US11720693B2 (en) | 2021-03-05 | 2023-08-08 | Eclypses, Inc. | System and method for securely transferring data |
Citations (7)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20020147913A1 (en) * | 2001-04-09 | 2002-10-10 | Lun Yip William Wai | Tamper-proof mobile commerce system |
US20030004876A1 (en) * | 2001-06-29 | 2003-01-02 | David Jacobson | Mobile terminal incorporated with a credit card |
US20030023566A1 (en) * | 2000-03-03 | 2003-01-30 | Tomonori Fujisawa | Authenticating method |
US20030191945A1 (en) * | 2002-04-03 | 2003-10-09 | Swivel Technologies Limited | System and method for secure credit and debit card transactions |
US20040039709A1 (en) * | 2002-01-23 | 2004-02-26 | Petri Pirhonen | Method of payment |
US20040098350A1 (en) * | 2002-08-08 | 2004-05-20 | Fujitsu Limited | Framework and system for purchasing of goods and srvices |
US20040250068A1 (en) * | 2001-09-03 | 2004-12-09 | Tomonori Fujisawa | Individual certification method |
-
2006
- 2006-02-14 WO PCT/ZA2006/000022 patent/WO2006094316A2/en active Application Filing
- 2006-08-14 ZA ZA200606754A patent/ZA200606754B/en unknown
Patent Citations (7)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US20030023566A1 (en) * | 2000-03-03 | 2003-01-30 | Tomonori Fujisawa | Authenticating method |
US20020147913A1 (en) * | 2001-04-09 | 2002-10-10 | Lun Yip William Wai | Tamper-proof mobile commerce system |
US20030004876A1 (en) * | 2001-06-29 | 2003-01-02 | David Jacobson | Mobile terminal incorporated with a credit card |
US20040250068A1 (en) * | 2001-09-03 | 2004-12-09 | Tomonori Fujisawa | Individual certification method |
US20040039709A1 (en) * | 2002-01-23 | 2004-02-26 | Petri Pirhonen | Method of payment |
US20030191945A1 (en) * | 2002-04-03 | 2003-10-09 | Swivel Technologies Limited | System and method for secure credit and debit card transactions |
US20040098350A1 (en) * | 2002-08-08 | 2004-05-20 | Fujitsu Limited | Framework and system for purchasing of goods and srvices |
Also Published As
Publication number | Publication date |
---|---|
ZA200606754B (en) | 2008-10-29 |
WO2006094316A2 (en) | 2006-09-08 |
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