360° Coverage : New Apple Patent Uncovers the Digital Wallet Scheme

New Apple Patent Uncovers the Digital Wallet Scheme

The new e-wallet system has been envisioned with a view to allowing the users to remunerate for different items using a secured payment procedure through their devices

Jan 17 2014, 11:51am CST | by

New Apple Patent Uncovers the Digital Wallet Scheme
Photo Credit: Getty Images

On Thursday, the US Patent and Trademark Office unveil a new patent filing, stating about such a system which will enable the users to enjoy a highly-secured electronic payment system via their smartphones.

The patent filing, entitled “Method to send payment data through various air interfaces without compromising user data”, describes a riskless method of processing payment applying the present technology.

According to CNET, the system begins by disbursing for an item via the smartphones. The point of sale (POS) device of the reseller would be associated with a backend system, enabling to manage the business transaction.  Thereafter, a secured link between the POS and user’s phone would be created applying a wireless procedure, including the near field communications. In this case, Wi-Fi and Bluetooth would be effective to preserve the link for a longer time effectively, as stated by the patent.

Another link would be set up between the user device and the server, applying a “shared secret” option, comprising different kinds of encrypted information, would be acquainted with only the two devices. Its purpose is to recognize the credit card and other and payment procedures.

The shared secret would produce a crypto key which will be securely saved in the user device. The server would generate a key with respect to the secret. A comparison between the two keys would be made. If both the keys are same, the transaction would be made, otherwise not.

It will be interesting to see how the tech giant applies such an outstanding feature in its upcoming devices.

 

 

 

 
 
 


Ehsanul Haque Kanan is covering consumer electronics with passion. He is especially an avid follower of all things Apple.

 

blog comments powered by Disqus

Latest stories

Apple Reportedly Using 7000 Series Aluminum in the Next Generation iPhones
Apple Reportedly Using 7000 Series Aluminum in the Next Generation iPhones
A report states that the 7000 series aluminum will be applied in the iPhone 6S and iPhone 6S Plus
 
 
Alleged Case Indicating Potential Features of the 12.9-Inch iPad Pro
Alleged Case Indicating Potential Features of the 12.9-Inch iPad Pro
The iPad Pro is expected to feature four speakers, two parts and a design similar to the iPad Air
 
 
Apple Updates the Apple Watch Website
Apple Updates the Apple Watch Website
Replaces release date with ‘The Watch Is Coming’
 
 
Apple set to award scholarships at upcoming WWDC conference
Apple set to award scholarships at upcoming WWDC conference
350 students will be honored with help from 20 organizations