SECURITY FOR ELECTRONIC TRANSACTIONS AND USER AUTHENTICATION

摘要

System and method for generating disseminating controlling and processing limited life security codes used to authenticate users particularly for electronic financial transactions such as payment transactions. Providing a user with a single security code usable across multiple accounts or other secured systems is contemplated each security code having a limited lifetime. Each security code is a random number from a random number generator. The respective security codes for each user correspond to a respective security code validity period of limited duration. Thus a table or matrix that associates the plurality of users with the respective sets of randomly selected security codes (each having their respective validity periods) is generated and that matrix is provided to the respective entities to which each user requires secured access. In parallel at least a current security code is provided to each user and this is how the respective entities being accessed can track which code from which user is currently valid.