Dynamic Card Verification Value
First Claim
1. A method for performing an economic transaction using a transaction card, the method comprising:
- using a cardholder device to receive from a card services provider a first set of data, the first set of data indicating a dynamically-generated card verification value (CVV) for the transaction card,wherein the dynamically-generated CVV is a sequence of characters based on a card number of the transaction card, an expiry date of the transaction card, and a dynamic service code, andwherein the dynamic service code is selected by the card services provider such that the dynamically-generated CVV is substantially unpredictable based on previously generated dynamically-generated CVVs for the transaction card,wherein the transaction card includes a magnetic stripe that stores the card number, the expiry date, and a first statically-generated CVV, andwherein the card number, the expiry date, and a second statically-generated CVV are physically printed on the transaction card; and
after receiving the dynamically-generated CVV from the card services provider, using the card number of the transaction card, the expiry date of the transaction card, and the dynamically-generated CVV to initiate the economic transaction.
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Accused Products
Abstract
As described herein, a card services provider dynamically generates a card verification value (CVV) for a transaction card and sends the dynamically-generated CVV to a cardholder. The card services provider generates the dynamically-generated CVV such that the dynamically-generated CVV is substantially unpredictable based on other dynamically-generated CVVs for the transaction card. The dynamically-generated CVV is only valid for a limited period of time and/or for a limited number of economic transactions. The cardholder uses the dynamically-generated CVV as part of an economic transaction with a merchant. Because the dynamically-generated CVV is only valid for a limited number of economic transactions and/or for a limited period of time, it may be difficult for a thief to repeatedly use the transaction card to make economic transactions.
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Citations
20 Claims
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1. A method for performing an economic transaction using a transaction card, the method comprising:
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using a cardholder device to receive from a card services provider a first set of data, the first set of data indicating a dynamically-generated card verification value (CVV) for the transaction card, wherein the dynamically-generated CVV is a sequence of characters based on a card number of the transaction card, an expiry date of the transaction card, and a dynamic service code, and wherein the dynamic service code is selected by the card services provider such that the dynamically-generated CVV is substantially unpredictable based on previously generated dynamically-generated CVVs for the transaction card, wherein the transaction card includes a magnetic stripe that stores the card number, the expiry date, and a first statically-generated CVV, and wherein the card number, the expiry date, and a second statically-generated CVV are physically printed on the transaction card; and after receiving the dynamically-generated CVV from the card services provider, using the card number of the transaction card, the expiry date of the transaction card, and the dynamically-generated CVV to initiate the economic transaction. - View Dependent Claims (2, 3, 4, 5)
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6. A computer-readable medium comprising instructions that, when executed by a processor, cause an electronic computing system to:
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automatically select a dynamic service code such that the dynamic service code is substantially unpredictable based on previously requested dynamically-generated card verification values (CVVs) for a transaction card; automatically generate a dynamically-generated CVV for the transaction card, wherein the dynamically-generated CVV is based on a card number of the transaction card, an expiry date of the transaction card, and the dynamic service code; automatically send, from the card processing server to a cardholder device, a first set of data, the first set of data indicating the dynamically-generated CVV; in response to receiving a transaction request, automatically determine whether a provided CVV corresponds to the dynamically-generated CVV, the transaction request is a request for an economic transaction, the transaction request specifying the provided CVV and a card number of the transaction card; and record a charge against an account of a cardholder of the transaction card when it is determined that the provided CVV corresponds to the dynamically-generated CVV. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. A card processing server comprising:
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a processor; a network interface; and a data storage system storing instructions that, when executed by the processor, cause the card processing server to; use a pseudo-random process to select a dynamic service code; generate a dynamically-generated CVV based on a card number of a transaction card, an expiry date of the transaction card, and the dynamic service code; use the network interface to send to a cardholder device a first set of data, the first set of data indicating the dynamically-generated CVV; determine, in response to receiving a transaction request from a merchant, whether a provided CVV corresponds to the dynamically-generated CVV, wherein the transaction request specifies the provided CVV, the card number of the transaction card, the expiry date of the transaction card, the merchant, and an amount of an economic transaction; automatically determine, when it is determined that the provided CVV corresponds to the dynamically-generated CVV, whether the dynamically-generated CVV is valid; automatically record a charge against an account of a cardholder of the transaction card when it is determined that the provided CVV corresponds to the dynamically-generated CVV and the dynamically-generated CVV is valid.
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Specification