Method And System For Controlling Risk Using Static Payment Data And An Intelligent Payment Device
First Claim
1. A method of conducting a payment transaction between a merchant and a holder of a payment token, comprising:
- receiving magnetic stripe data from a magnetic stripe on said payment token;
determining the existence of an intelligent payment device associated with said payment token based at least in part on said magnetic stripe data;
determining the existence of an intelligent point of interaction device accessible to said merchant, said intelligent point of interaction device being capable of conducting a contactless payment transaction with said intelligent payment device; and
requiring said merchant to conduct said payment transaction using said intelligent payment device and said intelligent point of interaction device based at least in part on the result of said determining the existence of said intelligent payment device.
1 Assignment
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Accused Products
Abstract
Example embodiments are described that permit a merchant to conduct a payment transaction using a customer'"'"'s intelligent payment device when it is determined that the customer has an intelligent payment device. In the absence of such a device, the merchant may conduct the payment transaction using a traditional payment token, for example a payment token including static data. The static data may include an intelligent device data, for example a code embedded on a magnetic stripe, that may alert a merchant to the existence of the intelligent payment device. The merchant may then conduct the payment transaction using the intelligent payment device instead of using the static data.
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Citations
37 Claims
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1. A method of conducting a payment transaction between a merchant and a holder of a payment token, comprising:
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receiving magnetic stripe data from a magnetic stripe on said payment token; determining the existence of an intelligent payment device associated with said payment token based at least in part on said magnetic stripe data; determining the existence of an intelligent point of interaction device accessible to said merchant, said intelligent point of interaction device being capable of conducting a contactless payment transaction with said intelligent payment device; and requiring said merchant to conduct said payment transaction using said intelligent payment device and said intelligent point of interaction device based at least in part on the result of said determining the existence of said intelligent payment device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A method of conducting a payment transaction between a merchant and a holder of a payment token, comprising:
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receiving results related to determining the existence of an intelligent payment device associated with said payment token, said determining the existence of said intelligent payment device based at least in part on magnetic stripe data of said payment token; receiving results related to determining the existence of an intelligent point of interaction device accessible to said merchant, said intelligent point of interaction device being capable of conducting a contactless payment transaction with said intelligent payment device; and requiring said holder of said payment token to conduct said payment transaction using said intelligent payment device and said intelligent point of interaction device based at least in part on the results of said determining the existence of said intelligent payment device.
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20. A system for conducting a payment transaction between a merchant and a payment token holder, comprising:
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a receiving component capable of receiving magnetic stripe data from a magnetic stripe on a payment token; a determination component configured to determine the existence of an intelligent payment device associated with said payment token based at least in part on said magnetic stripe data; and a requirement component capable of requiring said merchant to conduct said payment transaction using said intelligent payment device and an intelligent point of interaction device based at least in part on the result of determining the existence of said intelligent payment device, wherein said intelligent point of interaction device is accessible to said merchant, said intelligent point of interaction device capable of conducting a contactless payment transaction using said intelligent payment device. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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Specification