Stripe, inc. (20240338698). SYSTEM AND METHOD FOR PERSONAL IDENTIFICATION NUMBER ENTRY IN A COMMERCIAL OFF THE SHELF COMMUNICATION DEVICE simplified abstract

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SYSTEM AND METHOD FOR PERSONAL IDENTIFICATION NUMBER ENTRY IN A COMMERCIAL OFF THE SHELF COMMUNICATION DEVICE

Organization Name

stripe, inc.

Inventor(s)

Hwai Sian Tsai of Hong Kong (HK)

Chi Wah Lo of Hong Kong (HK)

SYSTEM AND METHOD FOR PERSONAL IDENTIFICATION NUMBER ENTRY IN A COMMERCIAL OFF THE SHELF COMMUNICATION DEVICE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240338698 titled 'SYSTEM AND METHOD FOR PERSONAL IDENTIFICATION NUMBER ENTRY IN A COMMERCIAL OFF THE SHELF COMMUNICATION DEVICE

The system described in the abstract is a method for conducting a card transaction using various components such as a user device, card reading interface, payment application, pin verification subsystem, and an encrypted pin block (EPB) creation subsystem.

  • The user device receives a PIN entered by the user.
  • The card reading interface receives the Primary Account Number (PAN) from a payment card.
  • The EPB creation subsystem receives either the PIN or a set of signals containing the PIN.
  • The payment application generates a set of signals containing the PAN and transmits it via a network.
  • The EPB creation subsystem creates an EPB based on the PIN and PAN, which is then transmitted for verification.

Potential Applications: - Secure online transactions - Contactless payment systems - Mobile payment applications

Problems Solved: - Ensuring secure transmission of sensitive payment information - Preventing unauthorized access to PINs and PANs

Benefits: - Enhanced security for card transactions - Streamlined payment processes - Reduced risk of fraud

Commercial Applications: Title: Secure Payment Processing System This technology could be used in various industries such as banking, retail, and e-commerce to facilitate secure and efficient card transactions. It could also be integrated into mobile payment apps to enhance user experience and security.

Questions about the technology: 1. How does this system compare to traditional card transaction methods in terms of security? - This system offers enhanced security by encrypting sensitive information such as PINs and PANs, reducing the risk of data breaches. 2. What are the potential challenges in implementing this technology on a large scale? - Implementing this technology on a large scale may require significant infrastructure upgrades and user training to ensure smooth adoption.


Original Abstract Submitted

a system for conducting a card transaction comprises an consumer application running on a user device, a card reading interface separate from the user device, a payment application residing on a cots device, a pin verification subsystem, an epb creation subsystem located at an epb creation location, and a server. the user device receives an entered pin. the card reading interface receives a pan from a payment card. either the pin or a first set of signals comprising the pin is received by the epb creation subsystem. the second set of signals comprising the pan is generated and transmitted by the payment application via the network. an epb is created by the epb creation subsystem based on the pin and pan, and the epb is transmitted by the epb creation subsystem to either the pin verification subsystem or the payment card for pin verification.

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