Security transaction system for financial data
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United States of America Patent
Stats
-
Apr 25, 1989
Grant Date -
N/A
app pub date -
Sep 13, 1983
filing date -
Sep 13, 1983
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
A system for a data protection executing financial transactions employing cryptographic techniques. The system comprises an encoded card, which has been initially encrypted using the National Bureau of Standards Data Encryption Standard Algorithm. A subsequent encryption utilizes a private key of a public key cryptosystem is completed resulting in an account number and an uncoded identifier which are placed on the card. The encoded card may be placed in a sender unit which decrypts the public key. The user that enters a personal identifier in the sender unit. The data is transferred to a receiving unit that decrypts the transmitted data utilizing the private key which is unknown to both the user and the sender unit.
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