Patent ID: 7392388
Filing Date: 2008-06-24
Classification: G06Q,G07F

Abstract:
1. An identity verification secure transaction system comprising: a host computer for storing a user code associated with a user, for supplying a pseudo-random security string for a transaction, wherein said host computer determines a one time transaction code by selecting characters from said pseudo-random security string on a positional basis determined by the value of each digit of the user code; and at least one electronic device in electronic communication with said host computer for administering said transaction by receiving said pseudo-random security string and for transmitting a user generated transaction input code to the host computer, wherein said user generated transaction input code is determined by selecting characters from said pseudo-random security string on a positional basis determined by each digit of the user code, wherein said user generated transaction input code is sent to said host computer; and wherein said host computer verifies that said user generated input code matches said one time transaction code.