Patent ID: 8516560
Filing Date: 2013-08-20
Classification: G06Q,H04L

Abstract:
1. A method for securely authenticating a user of a portable consumer device, said method comprising: receiving from an access device a dynamic data element and a first set of transactional information; creating an authentication code as a function of at least a password, the dynamic data element, and a subset of the first set of transactional information; and sending the authentication code to the access device, wherein the access device uses the authentication code to authenticate the user by sending an authentication request message to a service provider, wherein the authentication request message contains at least the authentication code and additional information sufficient to allow the service provider to recreate the authentication code, and wherein the service provider responds to the authentication request message by sending an authentication response message indicating if the recreated authentication code corresponds to the authentication code sent in the authentication request message, wherein the password is a small value password for a transaction value below a threshold amount, the small value password being stored in the portable consumer device, thereby allowing the small value password to be used without having to be manually entered into the portable consumer device each time the small value password is used.