Patent ID: 8736424
Filing Date: 2014-05-27
Classification: G06K,G06Q,G07F,H04L

Abstract:
1. A method for performing a point of sale transaction using a tag incorporated in a bank card, the tag comprising a storage storing a plurality of encryption keys, the method comprising: at the tag, receiving a pointer identifying one of the plurality of encryption keys stored in the tag storage; encrypting tag data using the identified encryption key, the tag data comprising identification data identifying the tag; sending the encrypted identification data to a point of sale terminal comprising a tag reader; at the point of sale terminal, receiving transaction information corresponding to a purchase requested by a user; at a server, receiving the purchase transaction information and the encrypted identification data identifying the tag from the point of sale terminal; at the server, decrypting the encrypted identification data identifying the tag using a same encryption key as the encryption key identified by the pointer received at the tag; at the server, associating the identification data identifying the tag with an account number associated with a bank account of the user; and at the point of sale terminal, receiving an authorization from the server authorizing the transaction.