A system (and a method) for electronic financial transactions includes a sender and a recipient each having an electronic wallet, a sending bank and a receiving bank each having a host application system and an authentication server, and a wallet management center with a host application system and an authentication server. The sender uses its electronic wallet to send an encrypted payment instruction directly to the electronic wallet of the recipient. The recipient can perform a second level encryption of the instruction for submission to the wallet management center for authentication. Once authenticated, the wallet management center notifies the recipient and submits payment instructions for clearing by the corresponding sending and receiving banks. Payment authorization is authenticated directly by the sending bank without involvement of the wallet management center. For enhanced usability, payment details may be originated from the recipient to the sender using proximity or online messaging.

Extended electronic wallet management

A system (and a method) for electronic financial transactions includes at least of each of a sender having an electronic wallet, a recipient having an electronic wallet, a sending bank having a host application system and an authentication server, a receiving bank having a host application system and an authentication server, and a wallet management center with a host application system and an authentication server. The sender uses its electronic wallet to send an encrypted payment instruction directly to the electronic wallet of the recipient. The recipient can accept the payment by performing a second level encryption of the payment instruction for submission to the wallet management center for authentication. Once authenticated, the wallet management center immediately notifies the recipient and submits payment instructions for clearing by the corresponding sending and receiving banks. Payment authorization is authenticated directly by the sending bank without involvement of the wallet management center.

Electronic wallet management

Apparatuses, methods, and systems pertaining to the verification of portable consumer devices for 3-D Secure Systems are disclosed. In one implementation, a verification token is coupled to a computer by a USB connection so as to use the computer's networking facilities. The verification token reads identification information from a user's portable consumer device (e.g., credit card) and sends the information to a validation entry over a communications network using the computer's networking facilities. The validation entity applies one or more validation tests to the information that it receives from the verification token. If a selected number of tests are passed, the validation entity sends a 3-D Secure datum to the verification token. The verification token may enter the 3-D Secure datum into a hidden field of a Purchase Authentication Page appearing on the computer's display.

Verification of portable consumer devices for 3-d secure services

A system and a method are disclosed that includes a first party with a terminal and a one-time password token, one or more second parties, each with a host application system and a service provider authentication server, and a third party with a host application system and a master authentication server. The first party uses a single one-time password token with a single personal identification number (PIN) to access the one or more second parties. A third party issues the token to the first party and synchronizes token secrets and parameters with the one or more second parties. This offloads token management from the second parties and allows the second parties to directly authenticate the first party. The authentication of the first party by the second party does not involve the third party.

Single one-time password token with single PIN for access to multiple providers

Methods, secure elements, validation entities, and computer program products for effecting secure communication of payment information to merchants for Internet-based purchases. Payment information for a user's real payment information is installed in a secure element of a computer, the payment information may comprise a pseudo PAN number for the portable consumer device provided by a validation entity. The secure element is shielded from the computer's operating system to thwart hacker attacks. The user accesses the secure element to make a purchase. In response, the secure element contacts the validation entity with the pseudo account number, and in response obtains dynamic payment information that the secure element can used to effect the payment. The dynamic payment information comprises an account number that is different from the pseudo PAN, and which has at least one difference which respect to the user's real payment information.

Integration of payment capability into secure elements of computers

An intelligent method of e-commerce order completion automatically completes an order using either stored billing information, or information supplied at purchase if none is stored. User sends an order to a merchant. On receipt, user's authentication level is checked. If user is authenticated and billing information has been stored, it is retrieved and order completed without further user action. When none has been stored, flow redirects to a digital form for entering billing information, whereupon order is completed. In this case, after order completion, the user may save billing information to create a new digital wallet. To create the wallet, if the user isn't authenticated, or is insufficiently authenticated, they are first prompted to authenticate. Upon wallet creation, the user is fully authenticated and can complete purchases quickly without providing billing information with every purchase.

Intelligent method of order completion in an e-commerce environment based on availability of stored billing information

A system and method for electronic wallet conversion allows conversion of a basic electronic wallet to a more flexible wallet account, providing additional services and requiring additional authentication. The basic accountholder eventually requires the additional services provided by the more flexible wallet, typically editing rights and making purchases at sites requiring authentication beyond the basic level. To convert the account, the account holder is presented with a one-time challenge and response mechanism that requires the accountholder to summon information that only the account holder would know. If a successful match is made, the account is converted to the more flexible account for all time. The accountholder replaces the one-time challenge and response with a second-level password that grants the accountholder ongoing access to more sensitive wallet features, such as the ability to purchase at sites requiring a second-level password, and editing rights to the information stored in the wallet.

Venkatesh Subramanya

Papers

Intelligent method of order completion in an e-commerce environment based on availability of stored billing information

System and method for electronic wallet conversion