Importance

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Abstract

A computer implemented method for enabling a third party by a user to execute a transaction on behalf of the user, said method comprising: generating a token based on at least an account identifier identifying an account of said user, a secret authorization identifier known only by the user and said bank and corresponding to said account of said user, and a transaction definition defining the type of transaction to be performed; encrypting said token by an encryption method to generate an encrypted token, said encryption method being predefined such that it is known by said bank and can either be performed inversely or can be repeated by said bank; transferring said encrypted token from said user to said user to said third party to thereby authorize said third party to define the transaction as defined in said transaction definition on behalf of the account of said user specified in said token; wherein for executing said transaction said token is transferred to the bank to which the account specified in said token belongs, said bank verifying the authenticity of said token by either performing an inverse encryption of said token or by repeating said encryption of said unencrypted token which has been reassembled by said bank in order to either allow or refuse said transaction on behalf of the account of said user depending on whether the correctness of said secret authorization identifier corresponding to said account could be verified or not.

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First Claim