Method and system for secured transactions

Abstract

Systems and methods for performing settlement of token access transactions are provided. In one embodiment, the invention provides for batch processing bank card transactions, including receiving transaction records for a plurality of bank card transactions, wherein at least some of the transaction records include encrypted token information; determining whether the transaction records contain encrypted token information; decrypting the encrypted token information for a transaction record that is determined to have encrypted token information; and providing clear text token information obtained by decrypting the encrypted token information for a transaction record for transaction settlement.

1 . A method for updating a security feature in a card reader terminal, the method comprising: 
 retrieving information encoded on a card;    determining based on the retrieved information that the card contains an encoded command; and    updating an operational parameter of the terminal in response to the encoded command.    
     
     
         2 . The method of  claim 1 , wherein the updating step comprises turning on or off an encryption function of the terminal.  
     
     
         3 . The method of  claim 1 , wherein the operational parameter comprises a terminal ID, a merchant ID, and a sequence number.  
     
     
         4 . The method of  claim 3 , further comprising: 
 sending the updated operational parameter to a remote server.    
     
     
         5 . The method of  claim 1 , wherein the updating step comprises: 
 generating a new key to encode outgoing data;    encoding the new key with a current key used by the terminal; and    transmitting the encoded new key to a remote server.    
     
     
         6 . The method of  claim 5 , further comprising: 
 receiving confirmation from remote the sever that the encoded new key has been decoded and stored; and    using the new key to encode data in future transactions.    
     
     
         7 . The method of  claim 1 , wherein the updating step comprises: 
 requesting a new key from a remote server for use in encoding outgoing data; and    receiving an encoded new key from the server.    
     
     
         8 . The method of  claim 7 , further comprises: 
 decoding the encoded new key; and    using the new key to encode outgoing data in future transactions.    
     
     
         9 . The method of  claim 1 , wherein the updating step comprises: 
 retrieving a new key from the card for use in encoding outgoing data;    encoding the new key with a current key used by the terminal; and    transmitting the encoded new key to a remote server.    
     
     
         10 . The method of  claim 9 , further comprising: 
 receiving confirmation from remote the sever that the encoded new key has been decoded and stored; and    using the new key to encode data in future transactions.    
     
     
         11 . The method of  claim 5 , wherein the encoding step further comprises formatting the encoded new key in a data packet such that the data packet has a data format similar to a conventional transactional data format.  
     
     
         12 . The method of  claim 9 , wherein the encoding step further comprises formatting the encoded new key in a data packet such that the data packet has a data format similar to a conventional transactional data format.