Secure single-use transaction numbers
View Patent ↗Methods for producing and applications for single-use transaction numbers. The transaction numbers are single-use in that the numbers are only valid for a single transaction. The transaction numbers can be generated just prior to being used, minimizing the amount of time during which they can be lost or stolen. The transaction numbers can be generated using encryption technology such as dynamic password technology. The encryption technology makes it very difficult if not impossible to predict what the next transaction number generated will be. The transaction numbers are unique to the user and can be validated or authenticated by an issuing institution that maintains an ability to generate the same transaction numbers issued to the user.
1. A method of generating a single-use transaction number, comprising:
generating a one-time password, wherein generating the one-time password includes slowing down generation of the one-time password if an incorrect personal identification number (PIN) is entered; and
combining the generated one-time password with a routing number and an account number to form a single-use transaction number;
wherein the single-use transaction number is formatted such that the routing number can be used to route the single-use transaction number and wherein combining includes interleaving bits of the routing number with bits of the one-time password.
2. The method according to claim 1 , wherein the one-time password is generated using encryption technology.
3. The method according to claim 1 , wherein the one-time password is at encrypted usage count.
4. The method according to claim 1 , wherein the one-time password is generated using dynamic password technology.
5. The method according to claim 1 , wherein the single-use transaction number comprises 16 digits.
6. The method according to claim 5 , wherein the routing number comprises 4 digits.
7. The method according to claim 5 , wherein the account number comprises 7 digits.
8. The method according to claim 5 , wherein the one-time password comprises 5 digits.
9. The method according to claim 1 , wherein combining includes displaying the single-use transaction number for use by the user.
10. The method according to claim 1 , wherein generating the one-time password further includes generating a dynamic password as a function of a user activation.
11. The method according to claim 1 , wherein generating the one-time password includes generating a dynamic password as a function of a factor selected from the group of factors including a personal identification number (PIN) and an amount.
12. A device for generating a single-use transaction number, comprising:
means for generating a one-time password wherein the means for generating the one-time password includes slowing down generation of the one-time password if an incorrect personal identification number (PIN) is entered; and
means for combining the generated one-time password with a routing number and an account number to form a single-use transaction number, and
wherein the means for combining includes interleaving bits of the routing number with bits of the one-time password
wherein the single-use transaction number is formatted such that the routing number can be used to route the single-use transaction number.
13. The device according to claim 12 , wherein the means for generating the one-time password includes means for using encryption technology.
14. The device according to claim 12 , wherein the one-time password is generated using an encrypted usage count.
15. The device according to claim 12 , wherein the one-time password is generated using dynamic password technology.
16. The device according to claim 12 , wherein the means for generating the one-time password includes means for generating a dynamic password as a function of a user activation.
17. The device according to claim 12 , wherein the means for generating the one-time password includes means for generating a dynamic password as a function of a factor selected from the group of factors including a personal identification number (PIN) and an amount.
18. The device according to claim 17 , wherein the means for generating the dynamic password includes means for receiving information from a user.
19. The device according to claim 12 , wherein the means for combining includes means for presenting the single-use transaction number in a format similar to a credit card number.
20. The device according to claim 12 , wherein the means for combining includes means for displaying the single-use transaction number for use by the user.
21. The device according to claim 12 , wherein the means for combining includes means for transmitting the single-use transaction number to a wireless network.