Method for conducting financial transactions utilizing infrared data communications
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United States of America Patent
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N/A
Issued Date -
Jan 22, 2004
app pub date -
May 16, 2003
filing date -
Jul 10, 2002
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A method and device are described for conducting a transaction between electronic devices in which transaction data is exchanged over an infrared frequency. A first and second electronic device, with a common encryption algorithm deployed on each device, establish an infrared communications link. The second electronic device transmits a transaction request together with an encryption key to the first electronic device. The first electronic device returns response data to the second electronic device which response data is encrypted using the common encryption algorithm and the encryption key. An account to be utilized in the transaction is derived from the response data allowing the transaction to be completed.
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