Patent ID: 7343351

Claim:
A method for conducting a transaction, the method comprising: a. receiving, at a first server, a transaction request from a user for a transaction at a merchant server; b. issuing a challenge to a second server and forwarding the challenge from said second server to the user, wherein said challenge is passed to an intelligent token for processing said challenge, wherein said intelligent token generates a response to said challenge; c. receiving said response at said second server from the user based upon said challenge; d. processing said response at said second server and verifying the intelligent token; e. assembling credentials for the transaction at said first server, said credentials comprising at least one key; f. providing at least a portion of said assembled credentials to said user; g. receiving, at said second server, a second request from said user, said second request including said portion of said assembled credentials provided to said user; and h. validating, at said second server, said portion of said assembled credentials provided to said user with said key of said assembled credentials providing access to a transaction service.