US Patent Issued to Visa Europe on Nov. 3 for "Transaction authorisation" (British Inventor)

ALEXANDRIA, Va., Nov. 3 -- United States Patent no. 12,784,046, issued on Nov. 3, was assigned to Visa Europe Ltd. (London).

"Transaction authorisation" was invented by Lewis Graham (London).

According to the abstract* released by the U.S. Patent & Trademark Office: "There is discussed a method of authorising an electronic transaction in which a user device receives a shared secret and a shared secret identifier. Subsequently, on receipt of transaction data from a transaction terminal, the user device calculates a one-way hash of data comprising the shared secret to generate a hash value, generates authentication data comprising the hash value and the shared secret identifier, and transmits the authentication data to the transaction termi...