Patent ID: 8924712

Claim:
An apparatus for authenticating a transaction, the apparatus comprising: a memory configured to store two or more seed keys; a communication interface configured to facilitate communications between the apparatus and an authentication system; an input device configured to read an image comprising a matrix barcode encoded with transaction information that is displayed on a display of an external device, the transaction information comprising at least one of a monetary value and an identity of a merchant associated with a transaction; and a processor configured to: recover a first seed key from the two or more seed keys stored on the memory if at least one of: the monetary value associated with the transaction is greater than a predetermined amount, and the identity of the merchant associated with the transaction does not correspond to a trusted merchant; recover a second seed key from the two or more seed keys stored on the memory if at least one of: the monetary value associated with the transaction is less than or equal to the predetermined amount, and the identity of the merchant associated with the transaction corresponds to a trusted merchant; and transmit a password generated with the recovered seed key to the authentication system via the communication interface.