Credit card system and method
First Claim
1. In a financial transaction system capable of using at least one limited use credit card number which is limited in use by a party other than a limited use credit card number issuer and which is associated the master account number of a customer, a method of controlling the validity of the limited use credit card number comprising the steps of:
- sending to a user from a limited use credit card number issuer a limited use credit card number;
communicating with a limited use card number card issuer to establish limitations on the use of the limited use credit card number by a third party before it can be used in a transaction by said user; and
authorizing transactions which meet said established limitations and denying other transactions by comparing at a central location the attempted use to the established limitations on use.
1 Assignment
0 Petitions
Accused Products
Abstract
A credit card system is provided which has the added feature of providing additional limited use credit card numbers and/or cards. These numbers and/or cards can be used for a single or limited use transaction, thereby reducing the potential for fraudulent reuse of these numbers and/or cards. The credit card system finds application to “card remote” transactions such as by phone or Internet. Additionally, when a single use or limited use credit card is used for “card present” transactions, so called “skimming” fraud is eliminated. Various other features enhance the credit card system, which will allow secure trade without the use of elaborate encryption techniques. Methods for limiting, distributing and using a limited use card number, controlling the validity of a limited use credit card number, conducting a limited use credit card number transaction and providing remote access devices for accessing a limited use credit card number are also provided.
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Citations
11 Claims
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1. In a financial transaction system capable of using at least one limited use credit card number which is limited in use by a party other than a limited use credit card number issuer and which is associated the master account number of a customer, a method of controlling the validity of the limited use credit card number comprising the steps of:
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sending to a user from a limited use credit card number issuer a limited use credit card number;
communicating with a limited use card number card issuer to establish limitations on the use of the limited use credit card number by a third party before it can be used in a transaction by said user; and
authorizing transactions which meet said established limitations and denying other transactions by comparing at a central location the attempted use to the established limitations on use. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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Specification