System and Method for Authenticating a Payment Transaction
First Claim
1. A computer-implemented method of authenticating a payment transaction between a merchant and a customer in an electronic payment system, comprising the steps of:
- receiving, by an authentication system, transaction details presented by the merchant at a mobile electronic device;
initiating an authentication process between a merchant authentication terminal and the authentication system;
verifying, by the authentication system, that the mobile electronic device and the merchant authentication terminal are within a predefined geographical distance at substantially a time the transaction details are received by the authentication system; and
authenticating the customer by an authentication token presented by the customer at the authentication terminal.
3 Assignments
0 Petitions
Accused Products
Abstract
A system and method of authenticating a payment transaction between a merchant and a customer in an electronic payment system are described. Transaction details presented by the merchant are received at a mobile electronic device, the customer is authenticated by means of an authentication token presented by the customer at an authentication terminal, and the geo-location of the mobile electronic device and the authentication terminal are compared to verify that the device and terminal are within a predefined geographical distance at the time the payment transaction is processed.
-
Citations
20 Claims
-
1. A computer-implemented method of authenticating a payment transaction between a merchant and a customer in an electronic payment system, comprising the steps of:
-
receiving, by an authentication system, transaction details presented by the merchant at a mobile electronic device; initiating an authentication process between a merchant authentication terminal and the authentication system; verifying, by the authentication system, that the mobile electronic device and the merchant authentication terminal are within a predefined geographical distance at substantially a time the transaction details are received by the authentication system; and authenticating the customer by an authentication token presented by the customer at the authentication terminal. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
-
-
14. A payment transaction system, comprising:
-
a mobile electronic device including a geo-location module; a merchant authentication terminal including a geo-location module, the merchant authentication terminal in communication with the mobile electronic device; an authentication system in communication with both the mobile electronic device and the merchant authentication terminal, the authentication system verifying that the mobile electronic device and an merchant authentication terminal are within a predefined geographical distance;
-
- 15. The payment transaction system according to claim 15, wherein an authentication token is presented by a customer at the merchant authentication terminal and the customer is authenticated by the authentication system.
Specification