SYSTEM AND METHOD FOR AUTHENTICATING A CUSTOMER'S IDENTITY AND COMPLETING A SECURE CREDIT CARD TRANSACTION WITHOUT THE USE OF A CREDIT CARD NUMBER

• US 20070288377A1
• Filed: 04/26/2007
• Published: 12/13/2007
• Est. Priority Date: 04/26/2006
• Status: Abandoned Application

• Current Assignee: YS Shaked Holdings Limited
• Original Assignee: YS Shaked Holdings Limited
• Inventors: Shaked, Yosef
• Application Number:
  US11/740,660
• Publication Number:
  US 20070288377A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• 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
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07C 9/33 by means of a password

Abstract

The present invention provides a system and method for authenticating a customer'"'"'s identity and completing a credit card transaction between the customer and a merchant by authorizing a customer'"'"'s transaction request without the use of the customer'"'"'s credit card number or personal information. The method utilizes a customer'"'"'s existing online account with a credit card issuer, which also eliminates the need for the customer to create and maintain a separate account with a third part service. Furthermore, the method can be easily implemented into the existing credit card authentication protocols, so that a merchant can implement the payment method quickly, easily, and at minimal cost

Claims

1. A method for completing a credit card transaction comprising the acts of:

a customer selecting a good or service for purchase from a merchant;

the customer selecting to pay with a credit card using alternate payment information that does not include the customer'"'"'s credit card number;

redirecting the customer to a system maintained by a credit card issuer, where the credit card issuer corresponds to the customer'"'"'s credit card;

authenticating the customer'"'"'s identity with the issuer'"'"'s system by logging into the issuer'"'"'s system, such that the issuer generates an authentication code to send to the merchant to authenticate the customer'"'"'s identity;

transmitting the authentication code to the merchant;

transmitting deal information for the credit card transaction from the merchant to the issuer, wherein the customer then reviews the deal information on the issuer'"'"'s system;

requesting the customer to accept or reject the credit card transaction after reviewing the deal information;

generating an authorization code if the customer accepts the credit card transaction, or generating a rejection code if the customer rejects the credit card transaction;

transmitting either the authorization code or rejection code to the merchant;

wherein the merchant decides to complete the credit card transaction if an authorization code is received, or cancel the credit card transaction if a rejection code is received.

2. The method of claim 1, wherein the act of completing the transaction further comprises the acts of settling the accounts between the merchant and the issuer so that the issuer pays the merchant for the good or service purchased by the customer.

3. The method of claim 1, wherein the act of the merchant requesting alternative payment information further comprises the act of requesting the first six digits of the credit card number along with the credit card network.

4. The method of claim 1, wherein the act of the merchant requesting alternative payment information further comprises the act of selecting a network from a list of potential networks.

5. The method of claim 1, further comprising the act of the customer selecting an issuer from a list of potential issuers.

6. A method of authenticating a customer'"'"'s identity and completing a secure credit card transaction comprising the acts of:

providing a merchant with alternate payment information during a credit card transaction, wherein the alternate payment information does not include a customer'"'"'s credit card number;

forwarding the alternate payment information and deal information relating to the transaction to a service center to coordinate the transfer of the alternate payment information and deal information from the merchant to a credit card issuer that corresponds to the customer'"'"'s credit card;

directing the customer to a credit card issuer system, where the customer then enters his or her account information to access the issuer'"'"'s system;

such that when the customer accesses the system, the issuer authenticates the customer'"'"'s identity to the merchant; and

prompting the customer to confirm the deal information;

wherein if the user confirms the deal information, the issuer authorizes the transaction to the merchant.

7. A method for protecting the credit card information of a customer during a credit card transaction comprising the acts of:

selecting a credit card for use in a transaction between a customer and a merchant;

transmitting alternate payment information from the customer to the merchant, wherein the alternate payment information does not contain a credit card number;

transmitting deal information from the merchant to a credit card issuer that corresponds to the customer'"'"'s credit card;

requesting the customer to authorize the credit card transaction by logging into the credit card issuer'"'"'s system and confirming the deal information using the issuer'"'"'s system, wherein once the customer authorizes the transaction, an authorization code is generated; and

transmitting the authorization code to the merchant to authorize the completion of the transaction.

8. The method of claim 7, wherein the alternate payment information comprises the first several numbers of the credit card number that provide information on the credit card issuer and credit card network.

9. The method of claim 7, wherein the alternative payment information further comprises the act of selecting a network from a list of potential networks.

10. The method of claim 7, further comprising the act of the customer selecting a credit card issuer from a list of potential issuers.

11. A method for authenticating a customer'"'"'s identity during a credit card transaction comprising the acts of:

selecting a credit card for use in a transaction between a customer and a merchant;

transmitting alternate payment information from the customer to the merchant, wherein the alternate payment information does not contain a credit card number;

requesting the customer to authenticate his identity by logging into a credit card issuer'"'"'s system, wherein upon successfully logging into the issuer'"'"'s system, the issuer generates an authentication code; and

transmitting the authentication code from the issuer to the merchant.

12. The method of claim 11, wherein the alternate payment information comprises the first several numbers of the credit card number that provide information on the credit card issuer and credit card network.

13. The method of claim 11, wherein the act of the merchant requesting alternative payment information further comprises the act of selecting a network from a list of potential networks.

14. The method of claim 11, further comprising the act of the customer selecting the credit card issuer from a list of potential issuers.