초록 ▼

A method of redeeming for a seller electronic payments generated by and received from a customer using a master key unknown to the seller. In anticipation of making electronic payments, a customer sends a bank the master key that he will use to generate electronic payments. The bank stores the maste

A method of redeeming for a seller electronic payments generated by and received from a customer using a master key unknown to the seller. In anticipation of making electronic payments, a customer sends a bank the master key that he will use to generate electronic payments. The bank stores the master key. Later, the bank receives from the seller a redemption request including a seller identifier, a first value of a payment index, and an electronic payment associated with the first value of the payment index. The bank authenticates the electronic payment by comparing the electronic payment to a hash of a string including the master key, the seller identifier, and the first value of the payment index. If the electronic payment is authenticated, the bank determines an amount due to the seller and credits that amount to the seller.

대표청구항 ▼

[ What is claimed is:] [1.] A method of using a machine to redeem for a seller electronic payments generated by and received from a customer using a master key unknown to the seller, the machine including a memory storing instructions of the method in machine readable form, the method comprising:a)

[ What is claimed is:] [1.] A method of using a machine to redeem for a seller electronic payments generated by and received from a customer using a master key unknown to the seller, the machine including a memory storing instructions of the method in machine readable form, the method comprising:a) storing the master key in the memory;b) receiving from the seller a redemption request including a seller identifier, a first value of a payment index, and an electronic payment associated with the first value of the payment index;c) authenticating the electronic payment by comparing the electronic payment to a hash of a string including the master key, the seller identifier, and the first value of the payment index;d) if the electronic payment is authenticated:1) determining an amount due to the seller; and2) crediting the seller for the amount due.