System and method for dynamically issuing and processing transaction specific digital credit or debit cards

• US 20010034702A1
• Filed: 02/05/2001
• Published: 10/25/2001
• Est. Priority Date: 02/04/2000
• Status: Abandoned Application

• Current Assignee: Orangatango Incorporated
• Original Assignee: Orangatango Incorporated
• Inventors: Wingate, David, Mockett, Gregory P.
• Application Number:
  US09/777,723
• Publication Number:
  US 20010034702A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

A system and method of dynamically issuing credit card numbers and processing transactions using those credit card numbers is disclosed. A method according to the invention includes digitally recognizing a transaction opportunity on the Internet in real-time, recognizing the terms of the transaction, linking a dynamic digital credit card issuing apparatus directly into a qualified credit card issuing host, generating a partially random digital credit card number, logging the transaction, checking the terms of the transaction for acceptance, passing the dynamically issued digital credit card number to the merchant, processing the digital credit card number through the merchant'"'"'s card processing system, receiving the transaction approval request, participating in credit card validity checking systems, processing the approval request in real-time, sending the requesting party a legitimate authorization code, and retiring the digital credit card number immediately upon transaction approval or disapproval. A system according to the invention implements the method of the invention.

Claims

1. A method for processing a transaction over the Internet in realtime, comprising:

identifying an opportunity for a transaction between a buyer and a seller on the Internet in realtime;

ascertaining terms of said transaction;

linking a dynamic digital credit card issuing apparatus directly into a qualified credit card issuing host computer;

generating a unique, partially-random, digital credit card number;

logging said transaction;

checking said terms of said transaction for acceptance;

passing said digital credit card number to said seller;

processing said digital credit card number through seller'"'"'s credit card processing system; and

retiring said digital credit card number upon the occurrence of transaction approval or disapproval.

2. The method of

claim 1

, wherein said generating a unique, partially-random, digital credit card number further comprises generating a 16 digit credit card number, wherein a prefix of 4 digits of said 16 digit credit card number identify an issuer and a suffix of 12 digits of said 16 digit credit card number comprise a randomly generated number.

3. The method of

claim 1

, wherein said processing said digital credit card number through seller'"'"'s credit card processing system comprises:

participating in credit card validity checking systems;

initiating a transaction approval request;

processing said approval request in realtime; and

obtaining transaction approval.

4. The method of

claim 3

, wherein said obtaining transaction approval comprises providing said seller with an authorization code.

5. A system for processing a transaction over a network in realtime, comprising:

a merchant computer associated with a merchant for providing goods and services online and configured to accept credit cards as a primary means of payment;

a merchant bank configured for communication with said merchant computer configured for processing credit cards approvals on behalf of said merchant;

a user computer with a client-side browser configured for communication over said network;

a depository bank configured for communication with said user computer and comprising a repository of funds;

a host computer associated with a credit card issuing entity, configured for communication with said depository bank, and configured to receive credit card approval requests from a merchant bank;

a credit card approval network for approving a credit card transaction between a merchant bank and said host computer;

an intermediary server computer configured for communication with said user computer and for receiving input from said user computer;

a dynamic credit card issuer (DCCI) configured for communication with said host computer and said intermediary server computer and for dynamically generating a partially-random digital credit card number; and

an automated clearing house settlement process configured for communication between said depository bank and said merchant bank for processing payments there between.

6. The system of

claim 5

, wherein said intermediary server computer comprises a database for recording account balance information associated with a user, and is configured for reviewing said input received from said user computer and translating said input to initiate functions.

7. The system of

claim 6

, wherein said functions comprise translating data received from said input.

8. The system of

claim 6

, wherein said functions comprise creating a dynamic credit card account.

9. The system of

claim 5

, wherein said DCCI comprises a computer configured for:

verifying credits in a database representing funds available at a depository bank for completing a transaction;

assigning a credit available amount based upon said funds available;

checking said database for a history of deposits and transactions associated with said user;

generating said partially-random digital credit card number comprising a prefix of 4 digits associated with a credit card issuer and a suffix of 12 digits comprising a randomly generated number;

receiving a request for approval from said credit card approval network; and

sending an approval code to authorize said transaction.

10. The system of

claim 9

, wherein said DCCI comprises hardware and software, and is resident on or networked to said host computer and configured for electronic connection to said credit card approval network for effecting a transaction approval.

11. A method for digitally recognizing an online transaction opportunity in realtime, comprising:

providing a server-side browser hosted on a server in communication with an Internet, said server-side browser configured for performing client Internet browser functions from said server;

capturing content from a merchant'"'"'s Web pages accessed by a buyer;

dynamically rewriting said content to provide additional functionality to said dynamically rewritten content without changing layout or content of said merchant'"'"'s web pages; and

capturing a buyer'"'"'s input in response to said dynamically rewritten content.

12. The method of

claim 11

, wherein said capturing a buyer'"'"'s input comprises presenting to said buyer various form elements from said dynamically rewritten content and capturing input from said buyer in said various form elements.

13. The method of

claim 12

, wherein said input from said buyer comprises a macro.

14. The method of

claim 11

, further comprising:

analyzing said buyer'"'"'s input;

optionally translating said buyer'"'"'s input; and

communicating said buyer'"'"'s input or said optionally translated buyer'"'"'s input to a merchant computer for some part or all of a transaction request.

15. The method of

claim 14

, wherein said optionally translated buyer'"'"'s input is encrypted.

16. The method of

claim 11

, further comprising capturing information from a buyer during a user verification process prior to initiating a transaction to verify who said buyer is.

17. An apparatus for dynamically issuing a digital credit card number comprising:

an intermediary computer configured for communication over a packet-based network;

a process running on said intermediary computer configured for issuing a transaction specific debit or credit card number, said number comprising;

a number representative of a debit or credit card account;

a prefix of said number representative of a debit or credit card issuing entity; and

a suffix of said number representative of a randomly generated number.

18. The apparatus of

claim 17

, wherein said prefix comprises a 4 digit number.

19. The apparatus of

claim 17

, wherein said suffix comprises a 12 digit number.

20. The apparatus of

claim 17

, wherein said intermediary computer receives a macro and then interprets said macro as a request for a credit card number.

21. The apparatus of

claim 17

, wherein said intermediary computer receives a macro and then interprets said macro as a request for a portion of transaction data, said portion including expiration date, name of cardholder and billing address of said cardholder.

22. The apparatus of

claim 17

, wherein said intermediary computer is configured to randomly generate a fictitious address, user name, or portions thereof for a given transaction and log same as a part of the transaction data.

23. The apparatus of

claim 17

, wherein said intermediary computer is configured for checking a login database for confirmation that a user is qualified to use said apparatus to effect a transaction.

24. A computer system configured for communication over a packet-based network and programmed to implement a method for processing e-commerce transactions, said method comprising:

ascertaining a balance associated with a buyer based on funds available in one or more accounts of said buyer or funds guaranteed on behalf of said buyer, wherein said balance may be determined in realtime and is attachable by said intermediary computer to effect an e-commerce transaction;

transferring at least a portion of said balance to a transaction specific credit or debit card account;

creating a transaction-specific credit card number associated with said transaction specific credit or debit card account by affixing a random set of suffix digits to a host-assigned set of prefix digits; and

logging said transaction-specific credit card number as active for use in completing said e-commerce transaction.

25. The computer system of

claim 24

, wherein said balance may be used as a continue/discontinue criterion for proceeding with issuance of said transaction specific credit card number.

26. The computer system of

claim 24

, wherein said transferring at least a portion of said balance comprises optionally applying an exchange rate to affix values in a specific currency.

27. The computer system of

claim 24

, wherein creating a transaction-specific credit card number further comprises checking a database to ensure that no identical number is presently in approval or settlement processes running on said computer system or been permanently retired by said computer system.

28. The computer system of

claim 24

, wherein said method further comprises passing said transaction-specific credit card number directly to a merchant computer without sending or displaying said number to said buyer.

29. The computer system of

claim 24

, wherein said method further comprises logging and/or linking all previously known buyer data, transaction data and merchant data associated with said transaction-specific credit card number.

30. The computer system of

claim 24

, wherein said method further comprises:

comparing a credit card number from a merchant'"'"'s approval request with a list of issued and active transaction-specific credit card numbers; and

processing said approval request according to a conventional credit card approval process.

31. The computer system of

claim 30

, wherein said method further comprises:

returning an authorization code in response to said merchant'"'"'s approval request;

logging said authorization code as part of a transaction-specific digital credit or debit card account record;

instituting an automated clearing house or direct account settlement process;

expiring said transaction-specific credit card number immediately upon returning said authorization code or upon disapproval;

retiring said random set of suffix digits for a period of time;

archiving transaction data; and

returning said retired random set of suffix digits to circulation within said computer system.

32. The computer system of

claim 24

, wherein said balance is adjusted by an approved transaction amount.