VIRTUAL WALLET ACCOUNT WITH AUTOMATIC-LOADING

• US 20120011063A1
• Filed: 05/16/2011
• Published: 01/12/2012
• Est. Priority Date: 07/06/2010
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Killian, Patrick, Malhotra, Sandeep
• Granted Patent: US 8,442,914 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/349 Rechargeable cards
• CPC Class Codes: G06Q 20/351 Virtual cards
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• 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

Abstract

Methods and apparatus for operating a virtual wallet system are described. In an embodiment, the process includes receiving, at a virtual wallet server, a virtual wallet account number and payment transaction details that includes a payment amount, and then mapping the virtual wallet account number to at least one funding account associated with a consumer. The method also includes validating the consumer and the payment transaction details, generating a standard purchase authorization request message and routing it to an issuer of the at least one funding account, and receiving an authorization response approving the payment transaction. The process further includes loading the consumer'"'"'s virtual wallet account in real time to match the payment amount, and routing an authorization approval message to an originating acquirer. Such a virtual wallet system with automatic-loading capabilities substantially improves the operation of decoupled debit payment account schemes. In addition, the use of a virtual wallet account assigned to a consumer by virtue of a virtual wallet account number (which can be described as a pseudo-primary account number (pseudo-PAN)) allows the consumer to fund payments for multiple PSP accounts from a single funding account while simultaneously protecting personal data and protecting against identity theft.

Claims

1. A method comprising:

receiving, at a virtual wallet server, a virtual wallet account number and payment transaction details that includes a payment amount;

mapping, by the virtual wallet server, the virtual wallet account number to at least one funding account associated with a consumer;

validating, by the virtual wallet server, the consumer and the payment transaction details;

generating a standard purchase authorization request message and routing it to an issuer of the at least one funding account;

receiving, at the virtual wallet server acting as an original acquirer proxy, an authorization response approving the payment transaction;

loading the consumer'"'"'s virtual wallet account in real time to match the payment amount; and

routing an authorization approval message to an originating acquirer.

2. The method of claim 1, further comprising, prior to routing the authorization approval message:

validating, by the virtual wallet server acting as an issuer proxy, that the virtual wallet account balance is sufficient; and

applying issuer-defined business rules.

3. The method of claim 2, further comprising:

generating a decline message if at least one of the virtual wallet account balance is insufficient and at least one issuer-defined business rule has not been followed; and

routing the decline message to an originating acquirer financial institution.

4. The method of claim 2, wherein applying business rules comprises at least one of applying CVC data, applying transaction limits, applying risk scoring, adding convenience fees, adding loyalty credits, subtracting promotional credits, and subtracting loyalty credits.

5. The method of claim 1, further comprising, prior to routing the authorization message to the originating acquirer, routing the authorization approval message to an original payment network.

6. The method of claim 1, wherein mapping comprises interrogating, by the virtual wallet server, a primary account number database.

7. The method of claim 1, wherein the transaction details comprise at least one data element listed by the ISO 8583 financial transaction standard.

8. The method of claim 1, wherein validating comprises applying at least one issuer financial institution business rule to at least one of the virtual wallet account and the payment transaction details.

9. The method of claim 1, further comprising loading the consumer'"'"'s virtual wallet account with a preset amount of funds when at least one predetermined condition has been met.

10. The method of claim 1, further comprising:

processing, by the virtual wallet server, a reversal authorization request to reverse a charge made to the consumer'"'"'s virtual wallet account;

validating, by the virtual wallet server, the consumer and the transaction to be reversed by applying issuer-defined business rules;

generating a standard reversal request message for the charge reversal with at least one funding account primary account number (PAN);

routing the standard reversal request message to a payment network authorization system;

receiving at least one reversal response approving the reversal request; and

crediting, by the virtual wallet server, the consumer'"'"'s virtual wallet account.

11. The method of claim 10, wherein processing the reversal authorization request comprises interrogating a PAN mapping database and mapping the virtual wallet account PAN to at least one funding account PAN.

12. The method of claim 10, wherein the reversal request message includes purchase transaction details including an original merchant ID;

13. The method of claim 10, further comprising debiting the consumer'"'"'s virtual wallet account reconciliation file.

14. The method of claim 1, further comprising, prior to receiving the virtual account number:

receiving, by a virtual wallet registration system, a request from the consumer to register at least one payment card account with the virtual wallet server; and

receiving registration information associated with the at least one payment card account that includes funding account payment credentials and PSP payment service information.

15. The method of claim 14, wherein the registration information further comprises auto-load capabilities and parameters.

16. The method of claim 14, further comprising:

generating, by the virtual wallet server, a payments authorization request that includes the funding account primary account number (PAN);

receiving, by a funding account issuer associated with the at least one payment card account, the payments authorization request;

receiving, by the virtual wallet server, an approval of the payments authorization request; and

generating, by the virtual wallet server, a user profile associated with the consumer and storing it in an account mapping data store.

17. A method comprising:

receiving, at a virtual wallet server, scheduled loading parameters to associate with a consumer'"'"'s virtual wallet account;

storing the scheduled loading parameters in an auto-load database, wherein the scheduled loading parameters include at least an amount of funds to load and at least one trigger condition;

evaluating the at least one trigger condition associated with the consumer'"'"'s virtual wallet account;

transmitting, when the at least one trigger condition is met, a standard authorization request message to a payment network authorization system, the authorization request including an amount of funds to load;

receiving an authorization response message approving the amount of funds;

updating the auto-load parameters to reflect the scheduled loading parameters associated with the consumer'"'"'s virtual wallet account; and

loading the consumer'"'"'s virtual wallet account with the amount of funds.

18. The method of claim 17, further comprising:

incrementing the stored value of the consumer'"'"'s virtual wallet account; and

transmitting an auto-load advisement message containing virtual wallet account loading transaction details and an updated virtual wallet account balance.

19. A virtual wallet system comprising:

a payment network in communication with an acquirer FI, the payment network operable to receive consumer payment transaction details including a payment amount and operable to transmit a purchase authorization request;

a virtual wallet server in communication with the payment network for receiving the purchase authorization request which includes a virtual wallet account number and the payment transaction details, the virtual wallet server also operable to map the virtual wallet account number to at least one funding account associated with a consumer, to validate the consumer and the payment transaction details, to generate a standard purchase authorization request message and to route it to the at least one funding account;

a payment network authorization system in communication with the virtual wallet server for receiving the purchase authorization request message; and

a funding account issuer FI in communication with the payment network for processing the purchase authorization request message and for providing a response;

wherein the virtual wallet server is operable to act as an original acquirer proxy to authorize the consumer payment transaction, to load the consumer'"'"'s virtual wallet account in real time to match the payment amount, and to route an authorization approval message to the acquirer FI.

20. A computer readable medium storing non-transitory instructions for controlling a processor, the instructions configured to cause the processor to:

receive a virtual wallet account number and payment transaction details that includes a payment amount;

map the virtual wallet account number to at least one funding account associated with a consumer;

validate the consumer and the payment transaction details;

generate and transmit a standard purchase authorization request message to an issuer of the at least one funding account;

receive an authorization response approving the payment transaction;

load the consumer'"'"'s virtual wallet account in real time to match the payment amount; and

transmit an authorization approval message to an originating acquirer.

21. A computer readable medium storing non-transitory instructions for controlling a processor, the instructions configured to cause the processor to:

receive scheduled loading parameters to associate with a consumer'"'"'s virtual wallet account;

store the scheduled loading parameters in an auto-load database, wherein the scheduled loading parameters include at least an amount of funds to load and at least one trigger condition;

evaluate the at least one trigger condition associated with the consumer'"'"'s virtual wallet account;

transmit, when the at least one trigger condition is met, a standard authorization request message to a payment network authorization system, the authorization request including an amount of funds to load;

receive an authorization response message approving the amount of funds;

update the auto-load parameters to reflect the scheduled loading parameters associated with the consumer'"'"'s virtual wallet account; and

load the consumer'"'"'s virtual wallet account with the amount of funds.