SYSTEM AND METHOD FOR SECURED ELECTRONIC TRANSACTIONS

摘要

The present invention includes a buyer portable device (12) having a value stored thereon, a buyer base device (24), and a buyer provider device (50). A purchase amount is deducted from the buyer portable device and is sent to the buyer provider device. The buyer provider device generates and encrypts a payment file (122) and a view-only payment file (120) which confirms the existence of the payment file. The seller base device (64) transmits the view-only payment file and the payment file to a seller provider device (102). The seller provider device generates and encrypts a product file (130) and a view-only product file (128) which confirms the existence of the product file. The buyer provider device and the seller provider device decrypt the view-only product file and the view-only payment file respectively. Upon approval by the buyer and seller, user keys are exchanged to allow decryption of the product and payment files.