SYSTEM AND METHOD FOR MANAGING PAYMENT IN TRANSACTIONS WITH A PCD

• US 20130246258A1
• Filed: 05/25/2012
• Published: 09/19/2013
• Est. Priority Date: 03/15/2012
• Status: Active Grant

• Current Assignee: Qualcomm, Inc.
• Original Assignee: Firethorn Mobile, Inc. (Qualcomm, Inc.)
• Inventors: Dessert, Robert
• Granted Patent: US 9,092,776 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/202 Interconnection or interaction of plural electronic cash registers [ECR] or to host computer, e.g. network details, transfer of information from host to ECR or from ECR to ECR
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3226 Use of secure elements separate from M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/351 Virtual cards
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/3672 initialising or reloading thereof
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• 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
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

Abstract

A system and method for managing payment in a transaction using a portable computing device (“PCD”) includes a mobile wallet token being received from an account issuing entity. Next, the mobile wallet token is stored in memory within a PCD payment platform (i.e., a cloud payment solution). A PCD token that corresponds with the mobile wallet token is generated by the PCD payment platform. The PCD token is transmitted over a communications network to a PCD. The mobile wallet token corresponds to at least one of: a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account. A mobile wallet token may be generated in response to receiving input from an on-line portal that future use of a payment account with a PCD is desired or in response to input received from a point-of-sale terminal.

Claims

1. A method for managing payment of a transaction with a portable computing device, comprising:

receiving a mobile wallet token from an account issuing entity;

storing the mobile wallet token in memory within a portable computing device payment platform;

generating a portable computing device token that corresponds with the mobile wallet token; and

transmitting the portable computing device token over a communications network for use as payment in transactions.

2. The method of claim 1, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

3. The method of claim 1, further comprising:

generating a mobile wallet token in response to receiving input from a point-of-sale system that future use of a payment account with the portable computing device is desired.

4. The method of claim 1, further comprising:

generating a mobile wallet token in response to receiving input from an on-line portal that future use of a payment account with the portable computing device is desired.

5. The method of claim 1, further comprising:

arranging a listing of payment accounts according to one or more rules; and

transmitting the listing over a communications network.

6. The method of claim 5, further comprising:

receiving a portable computing device token from a communications network; and

matching the portable computing device token with its corresponding mobile wallet token and transmitting the mobile wallet token over a communications network.

7. The method of claim 6, further comprising:

transmitting the mobile wallet token to an account issuing entity.

8. The method of claim 1, further comprising:

transmitting the portable computing device token to a portable computing device for storage within the portable computing device.

9. The method of claim 8, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

10. The method of claim 1, wherein the portable computing device comprises at least one of a mobile telephone, a personal digital assistant, a pager, a smartphone, a navigation device, a tablet PC, and a hand-held computer with a wireless connection or link.

11. A computer system for managing payment of a transaction with a portable computing device, the system comprising:

a processor operable for;

receiving a mobile wallet token from an account issuing entity;

storing the mobile wallet token in memory within a portable computing device payment platform;

generating a portable computing device token that corresponds with the mobile wallet token; and

transmitting the portable computing device token over a communications network for use as payment in transactions.

12. The system of claim 11, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

13. The system of claim 11, wherein the processor is further operable for:

generating a mobile wallet token in response to receiving input from a point-of-sale system that future use of a payment account with the portable computing device is desired.

14. The system of claim 11, wherein the processor is further operable for:

generating a mobile wallet token in response to receiving input from an on-line portal that future use of a payment account with the portable computing device is desired.

15. The system of claim 11, wherein the processor is further operable for:

arranging a listing of payment accounts according to one or more rules; and

transmitting the listing over a communications network.

16. The system of claim 15, wherein the processor is further operable for:

receiving a portable computing device token from a communications network; and

matching the portable computing device token with its corresponding mobile wallet token and transmitting the mobile wallet token over a communications network.

17. The system of claim 16, wherein the processor is further operable for:

transmitting the mobile wallet token to an account issuing entity.

18. The system of claim 11, wherein the processor is further operable for:

transmitting the portable computing device token to a portable computing device for storage within the portable computing device.

19. The system of claim 18, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

20. The system of claim 11, wherein the portable computing device comprises at least one of a mobile telephone, a personal digital assistant, a pager, a smartphone, a navigation device, a tablet PC, and a hand-held computer with a wireless connection or link.

21. A computer system for managing payment of a transaction with a portable computing device, the system comprising:

means for receiving a mobile wallet token from an account issuing entity;

means for storing the mobile wallet token in memory within a portable computing device payment platform;

means for generating a portable computing device token that corresponds with the mobile wallet token; and

means for transmitting the portable computing device token over a communications network for use as payment in transactions.

22. The system of claim 21, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

23. The system of claim 22, further comprising:

means for generating a mobile wallet token in response to receiving input from a point-of-sale system that future use of a payment account with the portable computing device is desired.

24. The system of claim 21, further comprising:

means for generating a mobile wallet token in response to receiving input from an on-line portal that future use of a payment account with the portable computing device is desired.

25. The system of claim 21, further comprising:

means for arranging a listing of payment accounts according to one or more rules; and

means for transmitting the listing over a communications network.

26. The method of claim 25, further comprising:

means for receiving a portable computing device token from a communications network; and

means for matching the portable computing device token with its corresponding mobile wallet token and transmitting the mobile wallet token over a communications network.

27. The system of claim 26, further comprising:

means for transmitting the mobile wallet token to an account issuing entity.

28. The system of claim 21, further comprising:

means for transmitting the portable computing device token to a portable computing device for storage within the portable computing device.

29. The system of claim 28, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

30. The system of claim 21, wherein the portable computing device comprises at least one of a mobile telephone, a personal digital assistant, a pager, a smartphone, a navigation device, and a hand-held computer with a wireless connection or link.

31. A computer program product comprising a computer usable medium having a computer readable program code embodied therein, said computer readable program code adapted to be executed to implement a method for managing payment of a transaction with a portable computing device, said method comprising:

receiving a mobile wallet token from an account issuing entity;

storing the mobile wallet token in memory within a portable computing device payment platform;

generating a portable computing device token that corresponds with the mobile wallet token; and

transmitting the portable computing device token over a communications network for use as payment in transactions.

32. The computer program product of claim 31, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

33. The computer program product of claim 31, wherein the program code implementing the method further comprises:

generating a mobile wallet token in response to receiving input from a point-of-sale system that future use of a payment account with the portable computing device is desired.

34. The computer program product of claim 31, wherein the program code implementing the method further comprises:

generating a mobile wallet token in response to receiving input from an on-line portal that future use of a payment account with the portable computing device is desired.

35. The computer program product of claim 31, wherein the program code implementing the method further comprises:

arranging a listing of payment accounts according to one or more rules; and

transmitting the listing over a communications network.

36. The computer program product of claim 35, wherein the program code implementing the method further comprises:

receiving a portable computing device token from a communications network; and

matching the portable computing device token with its corresponding mobile wallet token and transmitting the mobile wallet token over a communications network.

37. The computer program product of claim 36, wherein the program code implementing the method further comprises:

transmitting the mobile wallet token to an account issuing entity.

38. The computer program product of claim 31, wherein the program code implementing the method further comprises:

transmitting the portable computing device token to a portable computing device for storage within the portable computing device.

39. The computer program product of claim 38, wherein the mobile wallet token corresponds to at least one of:

a credit card account, an alternative or non-traditional payment account, a stored value account, an account from a financial institution, and a merchant based card account.

40. The computer program product of claim 31, wherein the portable computing device comprises at least one of a mobile telephone, a personal digital assistant, a pager, a smartphone, a navigation device, and a hand-held computer with a wireless connection or link.