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Personal Key Implementation With Standardized Bank Cards

IP.com Disclosure Number: IPCOM000060205D
Original Publication Date: 1986-Mar-01
Included in the Prior Art Database: 2005-Mar-08

Publishing Venue

IBM

Related People

Authors:
Elander, RC Meyer, CH [+details]

Abstract

One essential requirement of an electronic fund transfer (EFT) system is that institutions must be able to join together in a common EFT network, defined as an interchange, such that the EFT security of each institution is independent of the security measures implemented at other institutions. One method to achieve this is by employing one-way function methods for personal identification number (PIN) verification, as well as for establishing end-to-end cryptographic keys. Since the PIN is normally only 4 to 6 digits long, it does not have enough combinations to be useful in a one-way function approach. To overcome this drawback, another quantity stored on the card is introduced. This quantity, defined personal key here, is then employed in conjunction with the PIN to generate a strong one-way function.