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System/method of Mobile based PIN entry for ATM/POS Terminals

IP.com Disclosure Number: IPCOM000241531D
Publication Date: 2015-May-08
Document File: 4 page(s) / 97K

Publishing Venue

The IP.com Prior Art Database

Abstract

This document proposes an approach where the mobile phone of an ATM user can be used as a PIN entry device instead of a PIN keypad on an ATM or POS device. This enables the user to securely enter the PIN without being at risk of being seen or his PIN being compromised by skimmers with mock keypads.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 52% of the total text.

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System/method of Mobile based PIN entry for ATM /POS Terminals

ATM: Automatic teller Machine

POS: Point of Sale terminal

Current most popular systems for ATM/POS operation is


 the card holder swipes the card


 the ATM/POS prompts for a PIN number


 card holder enters the pin on the pin pad on the ATM/POS


 the ATM/POS authenticates the card ID and the PIN with the server


 ATM allows to operate the account or in case of POS authorize the transaction.

This system is not foolproof and there have been many cases "skimming" where skimmers install mock card readers as well as mock PIN pads. With this they can steal the card ID as well as the PIN numbers. Using this they can produce dummy cards with the card numbers and coupled with the PIN can perform un-authorized transactions. This has led to large losses to the financial system. There are other systems as well that are chip based but they are also prone to similar problems.

Today, both the magnetic as well as the chip based cards, are prone to a very basic problem of stolen PIN numbers . i.e any one with the stolen card and the knowledge of the PIN can perform un authorized transactions..

There are a few solutions available in the market like Mobile payments, mobile currency, NFC auth, "Tap and pin" contact-less cards etc http://www.zdnet.com/article/anz-to-roll-out-tap-and-pin-atm-in-2015/

There is a need for a solution in the emerging markets where there is a large number of basic capability phones. A solution that couples the existence of the card as well as another personal general purpose device like a mobile phone to perform the financial transaction. This eliminates the ATM as a single point of compromise.

There is a need where the users registered mobile phone is used as a PIN entry device instead of a PIN keypad on the ATM/POS.

In the Indian banking system, its almost impossible to open a bank account without a mobile phone. As part of the Governments financial inclusion programs, the government gives free basic phones to citizens that cannot afford phones. So including the phone as part of the workflow is very much a problem free...