LOCAL USAGE OF ELECTRONIC TOKENS IN A TRANSACTION PROCESSING SYSTEM

• US 20120310838A1
• Filed: 05/31/2012
• Published: 12/06/2012
• Est. Priority Date: 06/02/2011
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Harris, Theodore, Faith, Patrick
• Granted Patent: US 10,380,585 B2
• Time in Patent Office: Days
• US Class Current: 705/65
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3276 using a pictured code, e.g. barcode or QR-code, being read by the M-device
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02

Abstract

A method for the use of electronic transactional tokens includes: generating a plurality of transactional tokens including a first token; associating each of the transactional tokens with a plurality of users, the first token associated with a first user; monitoring usage of the transactional tokens in a plurality of transactions in a local region or network; and in response to receiving transactional data for the first transaction, updating the first token from a first state to a second state (e.g., to provide a benefit when the token is applied in the local region or network). The tokens may be generated and monitored using a token processing system, which uses transaction data received by a transaction handler that is handling transaction processing for the transactions.

Claims

1. A method, comprising:

generating a plurality of transactional tokens including a first token;

associating, by a computing apparatus, each of the transactional tokens with a respective one of a plurality of users, the first token associated with a first user of the plurality of users;

monitoring, by the computing apparatus, usage of the transactional tokens in a plurality of transactions in a local region or network, the plurality of transactions including a first transaction of the first user; and

in response to receiving transactional data regarding the first transaction, updating the first token from a first state to a second state.

2. The method of claim 1, wherein each of the plurality of transactional tokens is limited to transfer to an entity within the local region or network.

3. The method of claim 1, wherein the first token is applied by the first user to the first transaction.

4. The method of claim 3, wherein the first transaction is between the first user and a second user, the method further comprising responsive to applying the first token to the first transaction, transferring the first token to the second user, and wherein the second state corresponds to a transactional benefit for a future transaction of the second user.

5. The method of claim 4, wherein the transactional benefit for the future transaction requires usage of the first token in the local region or network.

6. The method of claim 1, wherein the generating the plurality of transactional tokens comprises generating a limited number of the tokens.

7. The method of claim 3, wherein the first state corresponds to a discount for a purchase from a first merchant, and the second state corresponds to a discount for a purchase from a second merchant.

8. The method of claim 7, wherein the first merchant and the second merchant are both in the local region or network.

9. The method of claim 7, wherein the discount is a fixed currency amount or a fixed percentage discount.

10. The method of claim 3, wherein the first token comprises a plurality of attributes including a first attribute, and wherein in the second state the first attribute provides a percentage reduction in price for a future transaction of the first user.

11. The method of claim 3, further comprising associating a respective transaction history with each of the transactional tokens, and updating the respective transaction history based on transactions to which the respective token has been applied.

12. The method of claim 3, wherein the plurality of users includes a second user in the local region or network, the method further comprising responsive to receiving a request from the first user, transferring the first token to the second user.

13. The method of claim 3, wherein the local region or network is a network, the method further comprising associating the transactional tokens with the network.

14. The method of claim 3, wherein the receiving the transactional data comprises receiving the transactional data by a transaction handler configured to receive from acquirer processors authorization requests for payments to be made by issuer processors according to account identifiers of users, the issuer processors to make the payments on behalf of users, and the acquirer processors to receive the payments on behalf of merchants.

15. A system, comprising:

at least one processor; and

memory storing instructions configured to instruct the at least one processor to;

generate a plurality of transactional tokens including a first token;

associate each of the transactional tokens with a respective one of a plurality of users, the first token associated with a first user of the plurality of users;

monitor usage of the transactional tokens in a plurality of transactions in a local region or network, the plurality of transactions including a first transaction of the first user; and

in response to receiving transactional data regarding the first transaction, update the first token from a first state to a second state.

16. The system of claim 15, wherein each of the plurality of transactional tokens is limited to transfer to an entity within the local region or network.

17. The system of claim 15, wherein the generating the plurality of transactional tokens comprises generating a limited number of the tokens.

18. The system of claim 15, wherein the first token is applied by the first user to the first transaction, and wherein the instructions are further configured to instruct the at least one processor to associate a respective transaction history with each of the transactional tokens, and to update the respective transaction history based on transactions to which the respective token has been applied.

19. The system of claim 15, wherein the first token is applied by the first user to the first transaction, and wherein the receiving the transactional data comprises receiving the transactional data by a transaction handler configured to receive from acquirer processors authorization requests for payments to be made by issuer processors according to account identifiers of users, the issuer processors to make the payments on behalf of users, and the acquirer processors to receive the payments on behalf of merchants.

20. A non-transitory computer-readable storage medium storing computer-readable instructions, which when executed, cause a computer system to:

generate a plurality of transactional tokens including a first token;

associate, by a computing apparatus, each of the transactional tokens with a respective one of a plurality of users, the first token associated with a first user of the plurality of users;

monitor, by the computing apparatus, usage of the transactional tokens in a plurality of transactions in a local region or network, the plurality of transactions including a first transaction of the first user; and

in response to receiving transactional data regarding the first transaction, update the first token from a first state to a second state.