System and method for processing financial transactions using a mobile device for payment

• US 10,535,060 B2
• Filed: 03/15/2013
• Issued: 01/14/2020
• Est. Priority Date: 03/15/2013
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Caglayan, Yigit, Uyan, Kemal
• Primary Examiner(s): Tran, Hai
• Application Number:
  US13/833,625
• Publication Number:
  US 20140279472A1
• Time in Patent Office: 2,496 Days
• Field of Search: 703 41
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3226 Use of secure elements separate from M-devices
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/4014 Identity check for transactions

Abstract

A method for processing a financial transaction includes: storing, in a database, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account; receiving, by a receiving device, an authorization request for a financial transaction, wherein the authorization request includes at least a mobile device identifier and transaction data; transmitting, to a mobile computing device associated with the mobile device identifier, at least the transaction data; receiving, from the mobile computing device, an indication of a payment account for funding of the financial transaction; identifying, in the database, payment details associated with the indicated payment account in a wallet data entry including the mobile device identifier included in the authorization request; and transmitting, to an issuer associated with the indicated payment account, at least the payment details and the transaction data.

Claims

1. A computer-implemented method for processing a financial transaction, comprising:

storing, in a database of a processing server device, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

receiving, by a receiving device of the processing server device, an authorization request for a financial transaction from a transaction system of a merchant involved in the financial transaction, wherein the authorization request includes at least a specific mobile device identifier and transaction data and does not include payment details;

in response to receiving the authorization request, transmitting, by a transmitting device of the processing server device, over a communication network, via a mobile network operator (MNO), a selection request including at least the transaction data to a mobile computing device associated with the specific mobile device identifier included in the authorization request, wherein said transmission activates an application program installed on the mobile computing device causing the mobile computing device to (i) display, on a display thereof, selection data including at least one payment account and (ii) prompt user-selection of a payment account from the at least one payment account, wherein payment details associated with the at least one payment account are not stored on the mobile computing device;

receiving, by the receiving device of the processing server device, via the communication network, an indication of a selected payment account for funding of the financial transaction from the mobile computing device;

identifying, by a processing device of the processing server device, the payment details associated with the indicated selected payment account in a wallet data entry stored in the database including the mobile device identifier included in the authorization request; and

transmitting, by the transmitting device of the processing server device, at least the payment details associated with the indicated selected payment account and the transaction data to a payment network for approval of the payment transaction.

2. The method of claim 1, further comprising:

receiving, by the receiving device, an authorization response from the payment network indicating approval of the financial transaction; and

transmitting, by the transmitting device, the authorization response to the merchant.

3. The method of claim 1, wherein the transaction data includes at least one of:

a transaction time and/or date, transaction amount, merchant identifier, product details, shipping details, loyalty number, purchase order number, invoice number, and transaction identifier.

4. The method of claim 1, wherein the mobile device identifier is a phone number associated with the associated mobile computing device.

5. The method of claim 1, wherein the mobile device identifier is a media access control (MAC) address.

6. The method of claim 1, wherein the transaction data is transmitted to the mobile computing device associated with the mobile device identifier included in a short message service (SMS) message.

7. The method of claim 1, wherein the payment account is a payment card account.

8. The method of claim 1, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

9. The method of claim 1, wherein

the payment details associated with the at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and

the payment details and transaction data are transmitted to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.

10. An electronic system for processing a financial transaction, comprising:

a processing device, of a processing server device;

a database device, of the processing server device, configured to store a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

a receiving device, of the processing server device, configured to receive an authorization request for a financial transaction from a transaction system of a merchant involved in the financial transaction, wherein the authorization request includes at least a specific mobile device identifier and transaction data and does not include payment details; and

a transmitting device, of the processing server device, configured to transmit, over a communication network, via a mobile network operator (MNO), in response to receiving the authorization request, to a mobile computing device associated with the specific mobile device identifier included in the authorization request, a selection request including at least the transaction data, wherein said transmission activates an application program installed on the mobile computing device causing the mobile computing device to (i) display, on a display thereof, selection data including at least one payment account and (ii) prompt user-selection of a payment account from the at least one payment account, wherein payment details associated with the at least one payment account are not stored on the mobile computing device;

wherein

the receiving device is further configured to receive, from the mobile computing device, via the communication network, an indication of a selected payment account for funding of the financial transaction,

the processing device is configured to identify, in the database, the payment details associated with the indicated selected payment account in a wallet data entry including the mobile device identifier included in the authorization request, and

the transmitting device is further configured to transmit, to a payment network, at least the payment details associated with the indicated selected payment account and the transaction data for approval of the payment transaction.

11. The system of claim 10, wherein:

the receiving device is further configured to receive, from the payment network, an authorization response indicating approval of the financial transaction; and

the transmitting device is further configured to transmit the authorization response to the merchant.

12. The system of claim 10, wherein the transaction data includes at least one of:

a transaction time and/or date, transaction amount, merchant identifier, product details, shipping details, loyalty number, purchase order number, invoice number, and transaction identifier.

13. The system of claim 10, wherein the mobile device identifier is a phone number associated with the associated mobile computing device.

14. The system of claim 10, wherein the mobile device identifier is a media access control (MAC) address.

15. The system of claim 10, wherein the transaction data is transmitted to the mobile computing device associated with the mobile device identifier included in a short message service (SMS) message.

16. The system of claim 10, wherein the payment account is a payment card account.

17. The system of claim 10, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

18. The system of claim 10, wherein

the payment details associated with at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and

the transmitting device is configured to transmit the payment details and transaction data to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.