TWO-CHANNEL SECURE TRANSACTION
Original Publication Date: 2000-May-01
Included in the Prior Art Database: 2002-Sep-24
The current credit card transaction model is faulty and credit card fraud has blossomed with the use of technology. Figures show that financial institutions lost billions of dollars on credit/charge card fraud in the US alone last year. A conventional credit card transaction model is summarized below in Figure 1.