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Electronic payment validation using Transaction Authorization Tokens

  • US 20040073688A1
  • Filed: 09/25/2003
  • Published: 04/15/2004
  • Est. Priority Date: 09/30/2002
  • Status: Abandoned Application
First Claim
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1. A method comprising:

  • associating a plurality of tokens with a financial account by recording the plurality of tokens in a token log, which token log is accessible by an institution that is responsible for authorizing one or more transactions involving the account; and

    initiating a transaction involving the financial account by providing one of the tokens and an indication of the account to a vendor, wherein the vendor is to provide the token, the indication of the account, and information about the transaction to the authorizing institution, which authorizing institution provides the vendor with transaction authorization based on the token being found to exist in the token log.

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