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Credit cards system and method having additional features

  • US 20090037333A1
  • Filed: 07/30/2008
  • Published: 02/05/2009
  • Est. Priority Date: 03/25/1998
  • Status: Active Grant
First Claim
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1. A method of implementing a transaction system using controlled payment numbers (CPNs), the method comprising:

  • assigning a unique CPN to a user, the CPN constituting a payment instrument for use in a financial transaction;

    allocating a monetary amount to the unique CPN by a funding entity;

    establishing limitations on use of the CPN by the funding entity;

    associating the unique CPN with a master account number of the user in a database of a CPN issuer, and associating the limitations on use of the CPN established by the funding entity with the unique CPN assigned to the user;

    issuing the unique CPN to the user by the CPN issuer;

    receiving an authorization request from a merchant for a transaction conducted with the CPN; and

    authorizing the transaction if the transaction complies with the limitations established by the funding entity.

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