Systems and Methods for Virtual Credit Card Transactions

• US 20110137748A1
• Filed: 12/09/2009
• Published: 06/09/2011
• Est. Priority Date: 12/09/2009
• Status: Abandoned Application

• Current Assignee: Yigal Baher
• Original Assignee: Yigal Baher
• Inventors: Baher, Yigal
• Application Number:
  US12/634,655
• Publication Number:
  US 20110137748A1
• Time in Patent Office: Days
• US Class Current: 705/26.41
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• 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 30/0613 Third-party assisted

Abstract

The present invention is directed to methods and devices for secure virtual credit card transactions. In one embodiment, a consumer system initiates a transaction with a merchant system. The consumer system generates a first verification code and a second verification code. The consumer system provides the merchant system with the first verification code. The merchant system transmits the first verification code to an authorizing entity, and the consumer system independently transmits the second verification code to the authorizing entity. The authorizing entity compares the verification codes received from both the consumer system and the merchant system. Based on the results of the comparison, the authorizing entity either approves or rejects the transaction.

Claims

1. A method for performing a secure transaction between a consumer and a merchant, comprising:

sending via a communications device of the consumer to a computer system of the merchant a signal to initiate the transaction;

sending via the communications device of the consumer to the computer system of the merchant a first verification code, wherein the computer system of the merchant transmits the first verification code to an authorizing entity;

sending via the communications device of the consumer to the authorizing entity a second verification code, wherein the authorizing entity compares the first and second verification codes;

receiving from the authorizing entity an approval or denial of the transaction based on a result of the comparison.

2. The method of claim 1, wherein the first and the second verification codes are identical.

3. The method of claim 1, wherein the authorizing entity comparing the first and second verification codes further comprises determining whether the first and second verification codes are identical.

4. The method of claim 1, wherein sending via the communications device of the consumer comprises sending via a cell phone of the consumer.

5. The method of claim 1, wherein the first verification code comprises one or more of an alphanumeric string to identify the communications device of the consumer, an alphanumeric string to identify a sales order number, and an alphanumeric string to identify the transaction.

6. The method of claim 1, wherein the second verification code comprises one or more of an alphanumeric string to identify the communications device of the consumer, an alphanumeric string to identify a sales order number, and an alphanumeric string to identify the transaction.

7. The method of claim 1, further comprising:

after sending via the communications device of the consumer to the computer system of the merchant the signal to initiate the transaction, accessing the computer system of the merchant and selecting one or more products or services to purchase; and

receiving from the computer system of the merchant a temporary Internet address and using the temporary Internet address to send the first verification code to the computer system of the merchant.

8. The method of claim 7, wherein accessing the computer system of the merchant comprises accessing a web server.

9. A method of performing a secure transaction between a consumer and a merchant, comprising:

receiving from a computer system of the merchant a first verification code;

receiving from a communications device of the consumer a second verification code;

comparing the first and second verification codes;

sending an approval or denial of the transaction to either or both of the computer system of the merchant and the communications device of the consumer based on a result of the comparison.

10. The method of claim 9, wherein the first and the second verification codes are identical.

11. The method of claim 9, wherein comparing the first and second verification codes further comprises determining whether the first and second verification codes are identical and approving the transaction if the first and second verification codes are identical.

12. A system for performing a secure transaction between a consumer and a merchant, comprising:

a communications device of the consumer configured to generate and transmit first and second verification codes;

a computer system of a merchant configured to receive the first verification code and subsequently transmit the first verification code; and

a computer system of an authorizing entity configured to receive the first verification code from the computer system of the merchant and receive the second verification code from the communications device of the consumer;

wherein the computer system of the authorizing entity compares the first and second verification codes and transmits an approval or denial of the transaction to one or both of the communications device of the consumer and the computer system of the merchant based on a result of the comparison.

13. The method of claim 12, wherein the first and the second verification codes are identical.

14. The method of claim 12, wherein comparing the first and second verification codes further comprises determining whether the first and second verification codes are identical and approving the transaction if the first and second verification codes are identical.

15. A machine readable medium having instructions stored thereon that when executed by a processor cause a system to:

send via a communications device of a consumer to a computer system of a merchant a signal to initiate a transaction;

send via the communications device of the consumer to the computer system of the merchant a first verification code, wherein the computer system of the merchant transmits the first verification code to an authorizing entity;

send via the communications device of the consumer to the authorizing entity a second verification code, wherein the authorizing entity compares the first and second verification codes;

receive from the authorizing entity an approval or denial of the transaction based on a result of the comparison.

16. The machine readable medium of claim 15, wherein the authorizing entity compares the first and second verification codes further comprises determining whether the first and second verification codes are identical and approving the transaction if the first and second verification codes are identical.

17. A method for performing a secure transaction between a consumer and a merchant, comprising:

accessing a computer system of an authorizing entity and further accessing a credit card account of the consumer stored on the computer system of the authorizing entity;

requesting a temporary credit card number from the computer system of the authorizing entity, wherein the temporary credit card number is associated with the credit card account of the consumer;

receiving the temporary credit card number on a communications device of the consumer; and

relaying the temporary credit card number to the merchant.

18. The method of claim 17, further comprising after relaying the temporary credit card number to the merchant, accessing the computer system of the authorizing entity and requesting that the temporary credit card number be deactivated.

19. The method of claim 17, wherein relaying the temporary credit card number to the merchant further comprises establishing a communications link between the communications device of the consumer and a computer system of the merchant using radio waves and transmitting the temporary credit card number from the communications device of the consumer to the computer system of the merchant on the communications link.

20. The method of claim 17, wherein relaying the temporary credit card number to the merchant further comprises displaying the temporary credit card number on a display screen of the communications device of the consumer.