Patent ID: 6850916

Claim:
A portable transaction arrangement for permitting a user to conduct a transaction vis-à-vis an electronic transaction system, comprising: a charge card terminal interfacing subsystem, including an emulation card having an emulation card interface, said emulation card interface emulating an interface of a charge card, said charge card being one of a magnetic stripe card and an electronic smart card, said interface of said charge card facilitating communication between said charge card and a charge card terminal of said electronic transaction system; and a portable emulation card configuring device arranged to be used in conjunction with said emulation card, including a memory having two portions, a first portion configured to store charge card data pertaining to a charge card of said user and second portion configured to store a user private key, and an authentication mechanism, said portable emulation card configuring device being configured to write from said memory said charge card data pertaining to said charge card of said user to said emulation card if said user is authenticated through said authentication mechanism, thereby allowing said emulation card to appear through said emulation card interface, after writing and for the purpose of conducting said transaction, like said charge card of said user to said charge card terminal and enabling said charge card terminal to read said charge card data from said emulation card to conduct said transaction; and an electronic authorization interfacing subsystem, including first logic circuit configured to receive first digital data representative of a transaction request pertaining to said transaction from said electronic transaction system, second logic circuit configured to form second digital data responsive to said transaction request received by said first logic circuit if said transaction request is approved by said user, said second digital data representing encrypted data signifying an approval by said user of said transaction request; and second digital data including encrypted transaction information being encrypted by said private key and includes at least one of a transaction time and a transaction amount pertaining to said charge card transaction, said encrypted transaction information being readable by said charge card terminal and renders said emulation card valid only for said charge card transaction; and transmission circuitry coupled to said second logic circuit, said transmission circuitry being configured to transmit said second digital data from said portable transaction arrangement to said electronic transaction system if said user approves said transaction request.