Interactive financial card system uniquely suited for conducting financial transactions on the internet

摘要

A system and method for conducting secured online financial transactions on the Internet provides an electronically readable e-commerce card issued by a financial institution, as well as an electronic card reading device that communicates with the card owner's computer. To enable an online financial transaction on the Internet, the e-commerce card must first be read by the electronic card reading device. Next, the card owner is required to input a security code, and possibly other personal security information, that is known only by the user to the exclusion of others, including the card issuer. This system and method effectively decentralizes the personal security codes and other security information of all e-commerce card owners using the system, thereby substantially reducing the likelihood and extent of fraud and theft stemming from the traditional financial card (e.g., credit card and debit card) system without altering the framework of the existing global Internet marketplace and it's supporting e-commerce networks and systems.