ELECTRONIC SYSTEM AND COMPUTERIZED METHOD FOR VERIFICATION OF TRANSACTING PARTIES TO PROCESS TRANSACTIONS

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 part...

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Bibliographische Detailangaben
Hauptverfasser:	Donghao Huang, Bensam Joyson, Lalit Manchanda, Hui Fang, Xijing Wang, Anupam Sharma, Shiying Lian, Dipali Pathrabe
Format:	Patent
Sprache:	eng
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ELECTRIC COMMUNICATION TECHNIQUE ELECTRICITY PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHICCOMMUNICATION
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Beschreibung
Zusammenfassung:	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.