Validating card present financial transactions made via a point of sale terminal (POS) or an Automated Teller Machine (ATM) using specified distinctive identifiers of local/mobile computing devices involved in the transaction

Abstract

The present invention consists of methods whereby local/mobile computing devices are registered by collecting a set of hardware and/or software distinctive identifiers to be saved in a validation database residing on a validation database server/Web server, such that the local/mobile computing device can be used as a digital hardware key for right of access and authorization of electronic transactions. This is done by comparing a regenerated set of hardware and/or software distinctive identifiers with those previously registered in the validation database in order to validate the identity of the local/mobile computing device. The invention consists of a first software program executing on a local/mobile computing device that generates the set of hashed and/or encrypted hardware and/or software distinctive identifiers and a second software program resident residing on a validation database server/Web server that manages the validation database.

What is claimed is: 
     
         1 . A system whereby a transaction certifying authority communicably coupled to a local/mobile computing device, a Point Of Sale terminal (POS) or an Automated Teller Machine (ATM), and a Validation Database Server/Web Server uses specified distinctive identifiers drawn from said local/mobile computing device to validate financial transactions using credit, debit or prepaid card transactions where said credit, debit or prepaid card is physically present and used to initiate the settlement of a financial transaction comprising:
 a a user initiates a financial transaction authorization via said Point Of Sale terminal or said Automated Teller Machine by presenting a physical credit, debit or prepaid card;   b Said Point Of Sale terminal or said Automated Teller Machine is communicably coupled to said transaction certifying authority and transmits identity and account information to said transaction certifying authority;   c said transaction certifying authority recognizes, from the account information submitted by the Point Of Sale terminal or Automated Teller Machine, and determines that said account requires validation matching with said Validation Database Server/Web Server as part of said authorization process;   d said transaction certifying authority sends a regenerate specified distinctive identifiers request to said Point Of Sale terminal or Automated Teller Machine;   e said Point Of Sale terminal or Automated Teller Machine communicates the regenerate distinctive identifiers request wirelessly to said local/mobile computing device presented by said user;   f a first software program resident and executing on said local/mobile computing device receives said regenerate specified distinctive identifiers request;   g said first software program regenerates a set of specified distinctive identifiers from said local/mobile computing device, said regenerated specified distinctive identifiers are obtained from hardware modules and/or software modules resident on said local/mobile computing device;   h said first software program secures said set of regenerated specified distinctive identifiers by hashing and/or encrypting said set of regenerated specified distinctive identifiers then wirelessly transmits said set of regenerated specified distinctive identifiers directly to said Point Of Sale terminal or Automated Teller Machine;   i said Point Of Sale terminal or Automated Teller Machine electronically forwards said regenerated specified distinctive identifiers to said transaction certifying authority and after said electronically forwarding may securely erase the results of the regenerated specified distinctive identifiers from the Point Of Sale terminal or Automated Teller Machine;   j said first software program upon transmitting the regenerated specified distinctive identifiers may securely erase the results of the regenerated specified distinctive identifiers from the local/mobile computing device;   k said transaction certifying authority, upon receiving said set of regenerated specified distinctive identifiers from the Point Of Sale terminal or Automated Teller Machine, transmits said set of regenerated specified distinctive identifiers to a validation database server/website Server containing a database of previously registered specified distinctive identifiers from a plurality of local/mobile computing devices;   l said transaction certifying authority may securely erase said regenerated specified distinctive identifiers once said regenerated specified distinctive identifiers have been transmitted to the validation database server/Web server;   m said validation database server/web server contains a second software program which attempts to match the received set of regenerated specified distinctive identifiers to at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices;   n if said second software program matches said received set of regenerated specified distinctive identifiers against at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said second software program will notify said transaction certifying authority of said matching and if said second software program does not find a match between said received set of regenerated specified distinctive identifiers against at least one set of said previously registered selected distinctive identifiers from a plurality of local/mobile computing devices, said second software program will notify said transaction certifying authority that said match was not made;   o if said transaction certifying authority receives from said validation database server/website Server notice that a match was made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that said financial transaction request is accepted;   p if said transaction certifying authority receives from said validation database server/Web Server notice that a match was not made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is denied;   q said second software program upon transmitting said match results to said transaction certifying authority may securely erase said regenerated specified distinctive identifiers from said validation database/web server.   
     
     
         2 . The system of  claim 1  whereby the specified distinctive identifiers of said local/mobile computing device that are collected, processed, and transmitted by said first software program may also include a password and/or biometric marker entered by a user, as well as a unique identification string of characters associated with said first software program, said string of characters may include one or more characters that identify the specific local/mobile computing device and all such passwords, biometric markers, and unique identification strings of characters shall be hashed and or encrypted prior to transmission to said transaction certifying authority. 
     
     
         3 . The system of  claim 1  whereby communication between said Point Of Sale terminal or Automated teller Machine and said local/mobile computing device is established via a wireless method, including but not limited to, Near Field Communication (NFC), Bluetooth or a Wireless interface. 
     
     
         4 . The system of  claim 1  whereby said first software program may remain resident in the local storage of the local/mobile computing device. 
     
     
         5 . The system of  claim 1  whereby said first software program may remain resident within an Internet browser of the local/mobile computing device. 
     
     
         6 . The system of  claim 1  whereby said first software program may be a run/terminate/dissolve program that never stays resident in the local/mobile computing device and is re-introduced for each requested transaction. 
     
     
         7 . The system of  claim 1  whereby the physical credit, debit or prepaid card presented to the Point Of Sale terminal or Automated Teller Machine may be based on a plurality of the existing card identification security schemes including traditional magnetic stripe, embedded chip & PIN technology or a custom variation of these methods of identification. 
     
     
         8 . The system of  claim 1  whereby if said transaction certifying authority receives from said validation database server/website Server notice that a match was made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority examines a database containing details of said user's account to determine if additional criteria exists that would negate a match notification after which said transaction certifying authority will if said additional criteria exists, notify said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is denied and if said database does not contain additional criteria to negate said match notification, said transaction certifying authority notifies said Point Of Sale terminal or Automated Teller Machine that said financial transaction request is accepted. 
     
     
         9 . The system of  claim 1  whereby if said transaction certifying authority receives from said validation database server/Web Server notice that a match was not made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority will examine a database containing details of said user's account to determine if additional criteria exists that would negate a not match notification after which said transaction certifying authority will, if said additional criteria exists will notify said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is accepted and if said database does not contain additional criteria to negate said not matched notification, said transaction certifying authority notifies said Point Of Sale terminal or Automated Teller Machine that said financial transaction request is denied. 
     
     
         10 . A method whereby a transaction certifying authority communicably coupled to a local/mobile computing device, a Point Of Sale terminal (POS) or an Automated Teller Machine (ATM), and a Validation Database Server/Web Server uses specified distinctive identifiers drawn from said local/mobile computing device to validate financial transactions using credit, debit or prepaid card transactions where said credit, debit or prepaid card is physically present and used to initiate the settlement of a financial transaction comprising:
 a a card present financial transaction is generated by a user presenting a physical credit, debit or prepaid card to initiate said transaction authorization request at said Point Of Sale terminal or Automated Teller Machine;   b said transaction authorization request associated with said card present transaction is received by said transaction certifying authority from said Point Of Sale or Automated Teller Machine being used to initiate the transaction authorization request;   c said transaction certifying authority sends a regenerate specified distinctive identifiers request to said Point Of Sale terminal or Automated Teller Machine;   d said Point Of Sale terminal or Automated Teller Machine communicates the regenerate distinctive identifiers request wirelessly to said local/mobile computing device presented by said user;   e a first software program resident and executing on said local/mobile computing device receives said regenerate specified distinctive identifiers request;   f said first software program regenerates a set of specified distinctive identifiers from said local/mobile computing device, said regenerated specified distinctive identifiers are obtained from hardware modules and/or software modules resident on said local/mobile computing device;   g said first software program secures said set of regenerated specified distinctive identifiers by hashing and/or encrypting said set of regenerated specified distinctive identifiers then wirelessly transmits said set of regenerated specified distinctive identifiers directly to said Point Of Sale terminal or Automated Teller Machine;   h said first software program upon transmitting the regenerated specified distinctive identifiers may securely erase the results of the regenerated specified distinctive identifiers from the local/mobile computing device;   i said Point Of Sale terminal or Automated Teller Machine electronically forwards said regenerated specified distinctive identifiers to said transaction certifying authority and then may securely erase the regenerated specified distinctive identifiers;   j said transaction certifying authority, upon receiving said set of regenerated specified distinctive identifiers from the Point Of Sale terminal or Automated Teller Machine, transmits said set of regenerated specified distinctive identifiers to a validation database server/website Server containing a database of previously registered specified distinctive identifiers from a plurality of local/mobile computing devices;   k said transaction certifying authority may securely erase said regenerated specified distinctive identifiers once said regenerated specified distinctive identifiers have been transmitted to the validation database server/Web server;   l said validation database server/web server contains a second software program which attempts to match the received set of regenerated specified distinctive identifiers to at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices;   m if said second software program matches said received set of regenerated specified distinctive identifiers against at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said second software program will electronically notify said transaction certifying authority of said matching and if said second software program does not find a match between said received set of regenerated specified distinctive identifiers against at least one set of said previously registered selected distinctive identifiers from a plurality of local/mobile computing devices, said second software program will electronically notify said transaction certifying authority that said match was not made;   n if said transaction certifying authority receives from said validation database server/website server notice that a match was made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is accepted;   o if said transaction certifying authority receives from said validation database server/web server notice that a match was not made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is accepted.   
     
     
         11 . The method of  claim 10  whereby said specified distinctive identifiers collected during the regeneration process by said first software program executing on said initiating local/mobile computing device may include a password or bio metric marker supplied by the person initiating the authorization request and may also include a unique identification string of characters associated with said first software program, said string of characters may include one or more characters that identify the specific local/mobile computing device. 
     
     
         12 . The method of  claim 10  whereby communication between said Point Of Sale terminal or Automated teller Machine and said local/mobile computing device is established via a wireless method, including but not limited to, Near Field Communication (NFC), Bluetooth or a Wireless interface. 
     
     
         13 . The method of  claim 10  whereby said first software program may remain resident in the local storage of the local/mobile computing device. 
     
     
         14 . The method of  claim 10  whereby said first software program may remain resident within an Internet browser of the local/mobile computing device. 
     
     
         15 . The method of  claim 10  whereby said first software program may be a run/terminate/dissolve program that never stays resident in the local/mobile computing device and is re-introduced for each requested transaction. 
     
     
         16 . The method of  claim 10  whereby the physical credit, debit or prepaid card presented to the Point Of Sale terminal or Automated Teller Machine may be based on a plurality of the existing card identification security schemes including traditional magnetic stripe, embedded chip & PIN technology or a custom variation of these methods of identification. 
     
     
         17 . The method of  claim 10  whereby if said transaction certifying authority receives from said validation database server/website server notice that a match was made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority examines a database containing details of said user's account to determine if additional criteria exists that would negate a match notification after which said transaction certifying authority will, if said additional criteria exists, electronically notifies said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is denied and if said database does not contain additional criteria to negate said match notification, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that said financial transaction request is accepted. 
     
     
         18 . The method of  claim 10  whereby if said transaction certifying authority receives from said validation database server/website server notice that a match was not made between said received set of regenerated specified distinctive identifiers and at least one set of said previously registered specified distinctive identifiers from a plurality of local/mobile computing devices, said transaction certifying authority examines a database containing details of said user's account to determine if additional criteria exists that would negate a non match notification after which said transaction certifying authority will if said additional criteria exists, electronically notifies said Point Of Sale terminal or Automated Teller Machine that the financial transaction request is accepted and if said database does not contain additional criteria to negate said non match notification, said transaction certifying authority electronically notifies said Point Of Sale terminal or Automated Teller Machine that said financial transaction request is denied.