Patent ID: 7822688

Claim:
A method for cashless transactions using a mobile phone communicably connectable with a secure transaction server (STS) over a mobile phone network, comprising: initializing by the STS a mobile payment software with a software authentication parameter including one or more of an initialization time stamp and/or initialization random seed number, to provide an authentic mobile payment software based upon the software authentication parameter; correlating, by the STS, a personal identification entry (PIE) with the authentic mobile payment software; executing, by the mobile phone, the authentic mobile payment software for prompting a user to input the PIE to the authentic mobile payment software; receiving the PIE and generating, by the mobile phone, according to both the received PIE and the software authentication parameter, a changing encryption key that changes for each transaction message by generating a transaction random sequence number based upon the software authentication parameter of the authentic payment software and generating the changing encryption key based upon both the transaction random sequence number generated based upon the software authentication parameter and the received PIE; encrypting a transaction message for an authenticable mobile phone cashless monetary transaction; transmitting, by the mobile phone, the encrypted transaction message to the STS; decrypting, by the STS, the encrypted transaction message by generating the changing encryption key based upon the PIE correlated with the authentic mobile payment software; and authenticating the mobile phone cashless monetary transaction according to the decrypted transaction message.