Systems and Methods for Tokenizing Financial Information

• US 20120303503A1
• Filed: 05/25/2012
• Published: 11/29/2012
• Est. Priority Date: 05/26/2011
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Cambridge, Devin Michael, Kean, Brian, Meyers, Stephen M., Davis, Norman Theodore Jr.
• Application Number:
  US13/481,394
• Publication Number:
  US 20120303503A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: H04L 2209/80 Wireless network architectures or network communication protocols for wireless network security H04W12/00
• CPC Class Codes: H04L 2463/061 applying further key derivation, e.g. deriving traffic keys from a pair-wise master key cryptographic mechanisms or cryptographic arrangements for generation of secret information including derivation or calculation of cryptographic keys or passwords H04L9/0861
• CPC Class Codes: H04L 2463/062 applying encryption of the keys cryptographic mechanisms or cryptographic arrangements for key distribution using key encryption key H04L9/0822
• CPC Class Codes: H04L 63/061 for key exchange, e.g. in peer-to-peer networks cryptographic mechanisms or cryptographic arrangements for key agreement H04L9/0838
• CPC Class Codes: H04L 63/08 for authentication of entities cryptographic mechanisms or cryptographic arrangements for entity authentication H04L9/32
• CPC Class Codes: H04L 63/126 the source of the received data
• CPC Class Codes: H04L 9/3234 involving additional secure or trusted devices, e.g. TPM, smartcard, USB or software token network architectures or network communication protocols for supporting authentication of entities using an additional device in a packet data network H04L63/0853
• CPC Class Codes: H04W 12/02 Protecting privacy or anonymity, e.g. protecting personally identifiable information [PII]
• CPC Class Codes: H04W 12/033 of the user plane, e.g. user's traffic
• CPC Class Codes: H04W 12/35 Protecting application or service provisioning, e.g. securing SIM application provisioning
• CPC Class Codes: H04W 4/50 Service provisioning or reconfiguring

Abstract

Embodiments of the invention can provide systems and methods for tokenizing financial information associated with mobile device transactions. According to one example embodiment of the invention, a method for providing tokens to devices can be provided. The method can include receiving, from a device, a request for a token to represent financial information; identifying, in response to the request, token information associated with the token; providing at least a portion of the token information to the device; and providing the token to a third party entity, wherein the third party entity utilizes the received token to evaluate a second token subsequently received from one of the device or a user of the device.

Claims

1. A computer-implemented method for providing tokens to devices, the method comprising:

receiving, from a device, a request for a token to represent financial information;

identifying, in response to the request, token information associated with the token;

providing at least a portion of the token information to the device; and

providing the token to a third party entity, wherein the third party entity utilizes the received token to evaluate a second token subsequently received from one of the device or a user of the device,

wherein the above operations are performed by one or more computers associated with a tokenization service provider.

2. The computer-implemented method of claim 1, wherein the token information comprises the token.

3. The computer-implemented method of claim 1, wherein the token information comprises information that may be utilized by the device to identify or derive the token.

4. The computer-implemented method of claim 1, wherein receiving a request for a token comprises receiving a request for a token to represent a financial account number.

5. The computer-implemented method of claim 1, further comprising:

identifying a tokenization situation associated with the request; and

identifying the token information based at least in part upon the identified tokenization situation.

6. A system for providing tokens to devices, the system comprising:

at least one memory configured to store computer-executable instructions; and

at least one processor configured to access the at least one memory and execute the computer-executable instructions to;

receive, from a device, a request for a token to represent financial information;

identify, in response to the request, token information associated with the token;

provide at least a portion of the token information to the device; and

provide the token to a third party entity, wherein the third party entity utilizes the received token to evaluate a second token subsequently received from one of the device or a user of the device,

wherein the above operations are performed by one or more computers associated with a tokenization service provider.

7. The system of claim 6, wherein the token information comprises the token.

8. The system of claim 6, wherein the token information comprises information that may be utilized by the device to identify or derive the token.

9. The system of claim 6, wherein the computer-executable instructions to receive a request for a token comprise instructions to receive a request for a token to represent a financial account number.

10. The system of claim 6, wherein the at least one processor is further configured to execute the computer-executable instructions to:

identify a tokenization situation associated with the request; and

identify the token information based at least in part upon the identified tokenization situation.

11. A method comprising:

receiving, from a mobile device, a request for a token to represent financial information;

identifying, in response to the request, token information associated with the token;

providing at least a portion of the token information to the mobile device; and

providing the token to a third party entity, wherein the third party entity utilizes the received token to evaluate a second token received from one of the mobile device or a user of the mobile device,

wherein the above operations are performed by one or more computers associated with a service provider.

12. The computer-implemented method of claim 11, wherein the token information comprises the token.

13. The computer-implemented method of claim 11, wherein the token information comprises information that may be utilized by the mobile device to identify or derive the token.

14. The computer-implemented method of claim 11, wherein receiving a request for a token comprises receiving a request for a token to represent a financial account number.

15. The computer-implemented method of claim 11, further comprising:

identifying a tokenization situation associated with the request; and

identifying the token information based at least in part upon the identified tokenization situation.