SYSTEM AND METHOD FOR SECURING SENSITIVE INFORMATION DURING COMPLETION OF A TRANSACTION

• US 20050033686A1
• Filed: 03/11/2004
• Published: 02/10/2005
• Est. Priority Date: 07/10/2001
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Saunders, Peter D., Peart, Lee J.
• Granted Patent: US 7,542,942 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• 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 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G07C 9/28 the pass enabling tracking or indicating presence
• CPC Class Codes: G07C 9/29 the pass containing active electronic elements, e.g. smartcards

Abstract

A system and method for securing a Radio Frequency (RF) transaction using a proxy code, which is permanently assigned to the RF identification device (RFID) transaction account number. An account issuer permanently assigns the proxy code to a transaction account correlated to the RFID transaction device. The proxy code is uploaded onto the transaction device for later use in completing a transaction request. During transaction completion, the proxy code is provided to a merchant system in lieu of any sensitive transaction account information. Since the proxy code is permanently assigned, the number need not be changed or updated once uploaded into a payment device or merchant system. Since the proxy code contains no sensitive information, the sensitive information related to the transaction account is secured from theft where the merchant system internal security measures may fail.

Claims

1. A system for completing a transaction using a transaction device comprising:

a transaction device associated with a transaction device proxy code, said transaction device comprising a transaction device database for storing said transaction device proxy code.

2. A system according to claim 1, further comprising a merchant system, said merchant system including a merchant system database, and a point of interaction (POI) device in communication with said transaction device transponder for transmitting and receiving data from said transponder in a contactless environment, the POI in RF communication with said RFID transaction device.

3. A system according to claim 2, further including a transaction device account issuer system for maintaining a unique transaction account associated with said RFID transaction device, said transaction account correlated to said unique transaction account identifier, said transaction account for use in completing a transaction request.

4. A system according to claim 3, wherein said transaction device account issuer system provides said unique transaction device account identifier and said transaction device proxy code to said transaction device database, said transaction device proxy code stored on said transaction device database.

5. A system according to claim 4, wherein said transaction device provides said proxy code and said transaction device identifier to said merchant system POI, said merchant system associating said proxy code and said transaction device identifier to said transaction request.

6. A system according to claim 5, wherein said merchant system provides at least said transaction device identifier and said transaction request to said issuer system.

7. A system according to claim 6, wherein said issuer system correlates said transaction device identifier to said unique transaction account, said issuer system satisfying said transaction request relative to said unique transaction account.

8. A system according to claim 7, wherein said transaction device account identifier is encrypted prior to providing said transaction device identifier to said merchant system.

9. A system according to claim 8, wherein said encrypted transaction device identifier is decrypted by said issuer system prior to said issuer system correlating said transaction device identifier to said unique transaction account.

10. A system according to claim 9, wherein said proxy code is unique to said RFID transaction device account.

11. A system according to claim 9, wherein said proxy code is unique to said issuer system.

12. A method for completing a transaction in a contactless environment said method including:

providing a proxy code and a transaction account identifier to a radio frequency identification (RFID) transaction device;

facilitating the providing of said proxy code and said transaction account identifier to a merchant system;

facilitating the providing of said proxy code and said transaction device identifier to a transaction device issuer system, said transaction device issuer system maintaining a transaction device account correlative to the transaction account identifier; and

facilitating the completion of a transaction request correlative to the transaction device account.

13. A method according to claim 12, further including correlating the proxy code a distinct transaction device.

14. A method according to claim 12, further including correlating the proxy code to a distinct transaction account issuer system.