Consumer, Merchant and Mobile Device Specific, Real-Time Dynamic Tokenization Activation within a Secure Mobile-Wallet Financial Transaction System
First Claim
1. A system on a computer based network for secure transfer of a customer'"'"'s funds to a merchant or financial institution, comprising:
- a secure financial proxy account such as an online wallet, established for the purpose of holding unused dormant customer funds until activated and allocated by means of a pre-registered personal handheld device;
a personal handheld device of the customer;
a registration protocol for the personal handheld device;
a mobile application installed on the personal handheld device;
a unique device identification number for the personal handheld device;
a unique application identification number for the mobile application installed on that device;
a unique merchant identification number for the merchant or financial institution generated by the system upon their first registering on the system;
an activation and allocation protocol for identifying the account'"'"'s registered handheld device, its mobile application and its owner for requesting that the account and funds be active and allocated for a particular desired transaction with a specific merchant or financial institution using the unique merchant identification number in a specified amount for a specific configurable amount of time;
a transactional and authentication server which stores and authenticates data sent from the customer'"'"'s personal handheld device sent over a telecommunications network;
a session-specific log in code generated by the transactional and authentication server for the customer'"'"'s personal handheld device and the mobile application installed on the personal handheld device when the customer logs in to the system which is stored both on the mobile application and on the transactional and authentication server for the purpose of authentication of the customer'"'"'s subsequent log-in to the system under the customer'"'"'s account;
a unique customer and device specific, merchant specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token generated by the transactional and authentication server and sent to the handheld device, which is specific to the handheld device, it'"'"'s application and the specified merchant identifier information for consummating the particular transaction with the specific merchant or financial institution;
and a graphical image generated on the personal handheld device, which expresses the unique customer and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token upon receipt from the transactional and authentication server, appended to the unique device identification number for the personal handheld device and the unique application identification number for its installed mobile application, the image to be scanned by the merchant or financial institution to consummate the transaction;
wherein the unique merchant identification number, the unique device identification number and the unique application identification number are all stored on the transactional and authentication server for customer account authentication and fund activation.
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Accused Products
Abstract
A secure system and method are disclosed to effectuate financial transactions over a secure internet backbone establishing and using a secure closed loop financial transactional system encompassing a proxy account and a pre-registered personal handheld mobile device to the account a preregistered merchant where all funds within the account remain in an “inactive” non-usable state until activated and allocated only by the consumer'"'"'s registered mobile handheld device using a unique, time sensitive, device specific and merchant specific transactional token initially developed on the system'"'"'s backend and subsequent token activation completion by the intended specific registered mobile device and by the intended merchant application.
415 Citations
16 Claims
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1. A system on a computer based network for secure transfer of a customer'"'"'s funds to a merchant or financial institution, comprising:
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a secure financial proxy account such as an online wallet, established for the purpose of holding unused dormant customer funds until activated and allocated by means of a pre-registered personal handheld device; a personal handheld device of the customer; a registration protocol for the personal handheld device; a mobile application installed on the personal handheld device; a unique device identification number for the personal handheld device; a unique application identification number for the mobile application installed on that device; a unique merchant identification number for the merchant or financial institution generated by the system upon their first registering on the system; an activation and allocation protocol for identifying the account'"'"'s registered handheld device, its mobile application and its owner for requesting that the account and funds be active and allocated for a particular desired transaction with a specific merchant or financial institution using the unique merchant identification number in a specified amount for a specific configurable amount of time; a transactional and authentication server which stores and authenticates data sent from the customer'"'"'s personal handheld device sent over a telecommunications network; a session-specific log in code generated by the transactional and authentication server for the customer'"'"'s personal handheld device and the mobile application installed on the personal handheld device when the customer logs in to the system which is stored both on the mobile application and on the transactional and authentication server for the purpose of authentication of the customer'"'"'s subsequent log-in to the system under the customer'"'"'s account; a unique customer and device specific, merchant specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token generated by the transactional and authentication server and sent to the handheld device, which is specific to the handheld device, it'"'"'s application and the specified merchant identifier information for consummating the particular transaction with the specific merchant or financial institution; and a graphical image generated on the personal handheld device, which expresses the unique customer and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token upon receipt from the transactional and authentication server, appended to the unique device identification number for the personal handheld device and the unique application identification number for its installed mobile application, the image to be scanned by the merchant or financial institution to consummate the transaction; wherein the unique merchant identification number, the unique device identification number and the unique application identification number are all stored on the transactional and authentication server for customer account authentication and fund activation. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method for secure transfer of customer'"'"'s funds, to a merchant or financial institution, comprising the steps of:
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establishing an online account for a customer to hold dormant, unused funds for the customer; linking the online account to a transactional and authentication server wherein an application resides to effectuate transfer of secure funds; registering the customer'"'"'s personal handheld device onto the server via an appropriate protocol; generating a unique device identification number for the customer'"'"'s personal handheld device and a unique application identification number for the mobile application installed on that device; generating a unique merchant identification number for the merchant or financial institution by the system upon their first registering on the system; logging in by the customer onto the system; generating a session-specific log in code by the transactional and authentication server for the customer'"'"'s personal handheld device and the mobile application installed on the personal handheld device after the customer logs in to the system; storing of the session-specific log in code both on the mobile application and on the transactional and authentication server under the customer'"'"'s account, for the purpose of authentication of the customer'"'"'s subsequent log-in to the system; verification of the consumer by means of the session-specific log in code generated by the transactional and authentication server for the consumer'"'"'s personal handheld device and the mobile application installed on the personal handheld device generated on the customer'"'"'s previous log in to the system which is; identifying the account'"'"'s registered personal handheld device and its associated customer for requesting the account and funds to be made active and allocated for a particular transaction with the specific merchant or financial institution; activating and allocating funds in the online account for the customer via an appropriate protocol for the particular transaction with the specific merchant or financial institution in a specified amount for a specific configurable amount of time; generating a unique user and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token by the transactional and authentication server using the unique device identification number for the customer'"'"'s personal handheld device, the unique application identification number for the mobile application installed on that device, and the unique merchant identification number for the merchant or financial institution, for the purpose of consummating the particular transaction with the specific merchant or financial institution; transmitting the unique user and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token by an ssl or tls or other secure protocol over a telecommunications network from the transactional and authentication server to the specific handheld device; appending on the handheld device the unique customer and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token received from the transactional and authentication server, with the unique device identification number for the personal handheld device and the unique application identification number for its installed mobile application; generating on the personal handheld device a graphical image, to express the unique customer and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token received from the transactional and authentication server, appended with the unique device identification number for the personal handheld device and the unique application identification number for its installed mobile application, the image to be scanned by the merchant or financial institution to consummate the transaction; verifying the unique user and device specific, time-sensitive, single-use encrypted digital transactional alphanumeric inactive token, the unique device identification number for the customer'"'"'s personal handheld device, the unique application identification number for the mobile application installed on that device, and the unique merchant identification number for the merchant or financial institution, by means of an appropriate secure transactional encryption and decryption algorithm on the transactional and authentication server. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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Specification