Charge card and debit transactions using a variable charge number

• US 20050252961A1
• Filed: 05/13/2004
• Published: 11/17/2005
• Est. Priority Date: 05/15/2003
• Status: Active Grant

• Current Assignee: Callahan Cellular LLC (Intellectual Ventures LLC)
• Original Assignee: Mehran Randall Rasti
• Inventors: Rasti, Mehran Randall
• Granted Patent: US 7,100,821 B2
• Time in Patent Office: Days
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

“VariCharge” (SM) process improves on the security of credit cards by assigning a different charge number for every charge transaction. The card does not contain the entire string of numbers that are required for charging. The charge number is constructed as a combination of the card number and a variable, random number named “VariPin”. A “VariPin” is generated through a pre-authorization phase, and is good for a maximum pre-authorized charge amount, a specific merchant, and expires after a limited period of time. A new “VariPin” is issued for every charge, therefore, the loss of a card or its numbers do not compromise security, making this an ideal charge instrument to be used when security is of prime concern.

Claims