Browse Prior Art Database

Technique for deactivating online, mobile, electronic card accounts using a single point in system with a safekey

IP.com Disclosure Number: IPCOM000231548D
Publication Date: 2013-Oct-07
Document File: 8 page(s) / 67K

Publishing Venue

The IP.com Prior Art Database

Abstract

The proposed article describes a technique for deactivating online, mobile, electronic card accounts using a single point in system with a safekey. It provides protection for accounts using safekey incase account details are stolen. The safekey itself is safe as it cannot be misused if stolen. The safe key is also called deactivation key.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 41% of the total text.

Page 01 of 8

Technique for deactivating online, mobile, electronic card accounts using a single point in system with a safekey


1. Introduction

In today's world of electronic banking, it has been made easier for customer to do online transactions and electronic exchanging. Internet banking is widespread and customers find it easy bank and manage their banking needs online. Customers can have many online accounts such as savings bank accounts, trading accounts, and credit card accounts and may have many electronic cards for ATM/Electronic cash transactions. This is a kind of life we have used for so far. Challenge here is to keeping list of account details, card numbers, security codes for all the online & offline transactions, and protection of this sensitive data has always been a challenge. For which we often have facilities such as password vault etc.

But Password vault is a new password added to existing and at times it is thought to be useful but the same can also be dangerous when its own password is lost.

Assuming, the Customer lost his card/valet, the common thought/misuse is his cards. For the same reason banks have provided call centre facility to ring-up and confirm the card details and ask for blocking it from any further use.

Consider a situation - I recently lost my credit card which I realized when I received a text message(sms) on my card being used for a transaction. I called up bank immediately to block the card but Customer representative asked me about my card details, which I did not remember neither had them noted anywhere. I then spent time searching my computer and also in my home to find any previous bills or card related information. It took sometime to find them and only then I had to block the card.

Another thought can be to save account/card details on computer or secret file. But doing so, security on sensitive information is compromised and when data is lost it will be more challenging to protect it from misuse.

We propose a solution of having a unique safekey for an account which is the key

1


Page 02 of 8

to deactivate a given account/electronic card. The safekey is also called deactivation key or deactivation string.)

Keeping account details in desktop, mobile, online or as printout to use in emergency to deactivate is not a safe way. In our proposed solution. safety is

provided against this. As the only operation that can be done using the safekey is to deactivate account and nothing else.

Problems with existing system

We need to send the card details to concerned via email, phone number, or call them to deactivate.Typically it is difficult because of language problem, difficulty to get phone# email# to contact, difficulty to get card# when it is stolen.

If the user stored account details in notepad, mobile, desktop, misuse of account can happen in the interval of lost-reported.


2. Implementation

The user gets deactivation string for online, electronic, account from service

provider. A web app/mobile app/deskt...