Invention Grant
- Patent Title: Electronic system and computerized method for verification of transacting parties to process transactions
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Application No.: US17117873Application Date: 2020-12-10
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Publication No.: US11715100B2Publication Date: 2023-08-01
- Inventor: Shiying Lian , Xijing Wang , Bensam Joyson , Anupam Sharma , Hui Fang , Donghao Huang , Dipali Pathrabe , Lalit Manchanda
- Applicant: Mastercard Asia/Pacific PTE. LTD.
- Applicant Address: SG Singapore
- Assignee: Mastercard Asia/Pacific PTE. LTD.
- Current Assignee: Mastercard Asia/Pacific PTE. LTD.
- Current Assignee Address: SG Singapore
- Agency: Pramudji Law Group PLLC
- Agent Ari Pramudji
- Priority: SG 201911966Q 2019.12.11
- Main IPC: G06Q20/38
- IPC: G06Q20/38 ; H04L9/32 ; H04L9/06 ; G06Q20/42

Abstract:
The present disclosure generally relates to electronic systems and computerized methods for verification of transacting parties to process transactions. A payment network server receives details of a transaction fulfilled by an agent and generates a transaction identification plaintext. A first party keyset for the first transacting party and an agent keyset for the agent is identified. The server generates cryptograms and ciphertexts encrypted by the first party keyset and agent keyset and sends the cryptograms to the first transacting party and agent. An encrypted cryptogram contains an encrypted ciphertext which contains a plaintext representing the transaction identification plaintext. The ciphertexts are exchanged between the first transacting party and agent by a computer handshake for decryption. The plaintexts are extracted from the ciphertexts and compared against the transaction identification plaintext for verifying the first transacting party and agent.
Public/Granted literature
Information query