MODULAR ELECTRONIC FUNDS TRANSFER POINT OF SALE DEVICE

1 . A point-of-sale device comprising:

a card reading interface module to read card information from a payment card; and

a card holder authentication module coupled to the card reading interface module, the card holder authentication module receiving the card information from the card reading interface module and authenticating a financial transaction.

2 . The device of claim 1 wherein the card reading interface module is certified against a card holder authentication security standard.

3 . The device of claim 1 wherein the card holder authentication module is certified against a card reading security standard.

4 . The device of claim 1 wherein the card information is encrypted by the card reading interface module prior to transmitting the card information to the card holder authentication module.

5 . The device of claim 1 wherein authenticating a financial transaction comprises receiving user authentication information and performing offline authentication utilizing the payment card.

6 . The device of claim 1 wherein authenticating a financial transaction comprises receiving user authentication information and transmitting modified user authentication information to an external authentication server, the card holder authentication module receiving an authentication confirmation from the external authentication server.

7 . The device of claim 1 wherein the card holder authentication module processes the card information to construct a PIN block, the PIN block and the card information being used to produce modified card information, the modified card information used to authenticate the financial transaction.

8 . The device of claim 1 wherein the card holder authentication module processes the card information to construct a PIN block, the PIN block and the card information being used to produce modified card information, the modified card information used to authenticate the financial transaction.

9 . A method of authenticating a financial transaction, the method comprising:

receiving, by a card reading interface module, card information from a payment card;

transmitting, from the card reading interface module, the card information to a card holder authentication module, the card holder authentication module coupled to the card reading interface module;

receiving the card information by a card holder authentication module;

computing, by the card holder authentication module in response to receiving the card information, modified card information comprising a PIN Block utilizing the card information;

receiving, by the card holder authentication module, authentication credentials of a user; and

authenticating, by the card holder authentication module, the financial transaction.

10 . The method of claim 9 further comprising:

transmitting, by the card holder authentication module, the modified card information to an external server;

receiving, by the external server, the modified card information; and

returning, by the external server, an authorization to the card holder authentication module.

11 . The method of claim 9 further comprising:

transmitting, by the card holder authentication module, the modified card information to the card reading interface module;

receiving, by the card reading interface module, the modified card information;

transmitting, by the card reading interface module, the modified card information to the payment card;

receiving, by the payment card, the modified card information; and

returning, by the payment card, an authorization to the card reading interface module.

12 . The method of claim 9 further comprising encrypting the card information by the card reading interface module before transmitting the card information to the card holder authentication module.

13 . The method of claim 9 further comprising encrypting the authentication credentials by the card holder authentication module before transmitting to the card reading interface module.

14 . The method of claim 9 further comprising encrypting the modified card information before transmission external to the card reading interface module or external to the card holder authentication module.

15 . A method of authenticating a financial transaction, the method comprising:

receiving, by a card holder authentication module, authentication credentials of a user;

transmitting, from the card holder authentication module, the authentication credentials to a card reading interface module, the card reading interface module coupled to the card holder authentication module;

transmitting, from the card reading interface module, the authentication credentials to a payment card coupled to the card reading interface module;

receiving, by the card reading interface module card, information from the payment card; and

computing, by the card reading interface module, modified card information, comprising a PIN Block utilizing the card information;

transmitting, by the card reading interface module, the modified card information to an external server,

receiving, by the external server, the modified card information; and

returning, by the external server, an authorization to the card reading interface module.

16 . The method of claim 15 wherein the card reading interface module is certified against a card holder authentication security standard.

17 . The method of claim 15 wherein the card holder authentication module is certified against a card reading security standard.

18 . The method of claim 15 further comprising encrypting the authentication credentials by the card holder authentication module before transmission to the card reading interface module.

19 . The method of claim 15 further comprising encrypting the modified card information by the card reading interface module before transmission to the external server.