SYSTEMS, METHODS AND APPARATUSES FOR SECURE DIGITAL TRANSACTIONS

• US 20090070271A1
• Filed: 09/06/2007
• Published: 03/12/2009
• Est. Priority Date: 09/06/2007
• Status: Active Grant

• Current Assignee: TBOL Incorporated
• Original Assignee: Shaunt Mark Sarkissian, Vahe Andre Sarkissian
• Inventors: Sarkissian, Vahe Andre, Sarkissian, Shaunt Mark
• Granted Patent: US 9,129,284 B2
• Time in Patent Office: Days
• US Class Current: 705/75
• CPC Class Codes: G06Q 20/38215 Use of certificates or encrypted proofs of transaction rights
• 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
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4037 Remote solvency checks

Abstract

A method for authorizing recurring transaction according to one embodiment includes receiving a defined payment amount associated with a user or entity. Additionally, the method includes receiving a first code associated with a first predetermined currency value, where the first code is also associated with the user or entity. Furthermore, the method includes verifying an availability of funds to pay the defined payment amount and authorizing payment of the defined payment amount if funds are available to pay the defined payment amount. Further still, the method includes generating a new code associated with a new predetermined currency value, and sending the new code to a sender of the defined payment amount.

Claims

1. A method for authorizing recurring transactions, comprising:

receiving a defined payment amount associated with a user or entity;

receiving a code associated with a first currency value, the code also being associated with the user or entity;

verifying an availability of funds to pay the defined payment amount;

authorizing payment of the defined payment amount if funds are available to pay the defined payment amount;

generating a new code associated with the first or a new currency value; and

sending the new code to a sender of the defined payment amount.

2. The method as recited in claim 1, further comprising sending an alert if the defined payment, amount is above a predefined value, range, variance or predefined criterion.

3. The method as recited in claim 2, further comprising not authorizing payment until after receipt of user approval to authorize the payment.

4. The method as recited in claim 1, wherein the code is retired after receipt thereof.

5. The method as recited in claim 1, wherein the code is retired upon generation of the new code.

6. The method as recited in claim 1, wherein the new code is generated prior to receiving another defined payment amount.

7. The method as recited in claim 1, further comprising repeating the method using new codes for subsequent defined payment amounts.

8. The method as recited in claim 1, wherein the defined payment amount is a same amount from period to period.

9. The method as recited in claim 1, wherein the defined payment amount is a different amount from period to period.

10. The method as recited in claim 1, wherein at least one of the code and the new code includes a merchant identifier portion.

11. The method as recited in claim 10, further comprising not authorizing payment if a sender of the defined payment amount is not associated with the merchant identifier portion.

12. The method as recited in claim 1, wherein the first or the new currency value is equal to the defined payment amount.

13. A method for processing recurring transactions, comprising:

sending a request for payment of a defined payment amount to a third party, the defined payment amount being associated with a user or entity;

sending a code associated with a first currency value to the third party, the code also being associated with the user or entity;

receiving payment equaling the defined payment amount; and

receiving a new code associated with the first or a new currency value, the new code being associated with the user or entity.

14. The method as recited in claim 13, further comprising repeating the method using new codes for subsequent defined payment amounts.

15. The method as recited in claim 13, further comprising sending an alert if the defined payment amount is above a predefined value, range, variance or predefined criterion.

16. The method as recited in claim 13, wherein the code is retired after receipt thereof.

17. The method as recited in claim 13, wherein the code is retired upon generation of the new code.

18. The method as recited in claim 13, wherein at least one of the code and the new code includes a merchant identifier portion.

19. A method for processing recurring transactions, comprising:

sending a defined payment amount and a code to a third party, the defined payment amount and code being associated with a user or entity;

receiving a new code associated with a predetermined currency value, the new code being associated with the user or entity;

sending a request for payment of the defined payment amount and the new code; and

receiving payment equaling the defined payment amount.

20. The method as recited in claim 19, further comprising repeating the method using new codes for subsequent defined payment amounts.

21. The method as recited in claim 19, wherein the predetermined currency value is based on a predefined maximum value.

22. The method as recited in claim 19, wherein the predetermined currency value is based on the defined payment amount.

23. The method as recited in claim 19, further comprising sending an alert if the defined payment amount is above a predefined value, range, variance or predefined criterion.

24. The method as recited in claim 19, wherein at least the new code includes a merchant identifier portion.

25. A composite code structure corresponding to a currency value, comprising:

a first code; and

a security code embedded in the first code thereby forming a composite code, the composite code corresponding to a currency value,

wherein the composite code includes a notation specifying an intended use of the composite code.

26. The code structure as recited in claim 25, wherein the notation specifies use for a recurring payment.

27. The code structure as recited in claim 25, wherein the notation specifies use for transactions of limited amounts of money.

28. The code structure as recited in claim 25, wherein the notation or security code contains unique identifying characteristics.

29. The code structure as recited in claim 25, wherein the notation or security code includes a merchant identifier.

30. A composite code structure corresponding to a currency value, comprising:

a first code; and

a notation embedded in the first code thereby forming a composite code, the composite code corresponding to a currency value,

wherein the notation specifies an intended use of the composite code.

31. The code structure as recited in claim 30, wherein the notation or a second notation specifies a maximum value that can be associated with the composite code.

32. A composite code structure corresponding to a currency value, comprising:

a first code; and

a security code embedded in the first code thereby forming a composite code, the composite code corresponding to a predetermined currency value,

wherein the composite code includes a notation specifying a maximum value that can be associated with the composite code.

33. The code structure as recited in claim 32, wherein the security code is a user-selected code.

34. The code structure as recited in claim 32, wherein the security code is not a user-selected code.

35. The code structure as recited in claim 32, wherein the notation specifies use for transactions of limited amounts of money.