MULTI-DIMENSIONAL AUTHENTICATION SYSTEM AND METHOD FOR CARDLESS BANKING TRANSACTIONS AND OTHER TRANSACTIONS INVOLVING HIGH-LEVEL SECURITY

摘要

The present invention relates to a method that allows making GSM confirmed banking transactions (e.g., cardless POS transactions or ATM procedures) with GSM-SIM card integrated mobile devices or wearables without using a card; and it is also a system and method for entering places that require specific safety using a server and GSM backed authorization rather than using a key or a magnetic ID card. Invention takes password entry request from user, makes necessary checks in main server (100) and uses GSM network (200) for device verification. It also involves a 5 layer ID verification and transaction confirmation method; after ID (300), device (301 ) and application (302) verification, it logs in to a temporary session for requested transaction in a different server (102); available data (Figure 2; 102-a) that will be used for transaction in this temporary session, will be encrypted with a single-use random password (Figure 2, 102-b) in each session and will be available to be used in user's mobile device to be scanned by reader (400); and finally reader's (400) transaction request will be confirmed by user by entering the password.