PAYMENT PROCESS AND SYSTEM FOR TRANSFERRING VALUE

摘要

A method of transferring value from a payer to a payee via an intermediary. In one example, value is transferred from a payer smart card (18), associated with a payer terminal (19), to a payee smart card (17), associated with a payer terminal (15), via an intermediary (14) having an intermediary smart card (16), by means of two separate card to card transfers. To initiate the transfer, the payer sends payer transaction data, including the identity of the payee, and signed with the payer's digital signature, to the intermediary (14). The intermediary derives the payer transaction data, checks the authenticity of the data and, if all is well, receives the value to be transferred from the payer. The intermediary (14) now repeats the process with the payee, but utilising the intermediary's digital signature. The payee checks the authenticity of the transaction data and, if all is well, receives the value to be transferred from the intermediary. In alternative embodiments some or all of the smart cards (16, 17 and 18) are replaced by hardware situated in a tamper resistant enclosure.