DISTRIBUTED AUTHENTICITY VERIFICATION FOR CONSUMER PAYMENT TRANSACTIONS
First Claim
Patent Images
1. A method of processing a transaction among a consumer, a merchant point-of-sale system and a transaction-processing entity, the method comprising:
- generating a token encrypted with data identifying a financial account of the consumer and trust data for the consumer;
receiving and storing the token by a device of the consumer;
reading and decrypting, by the merchant system, the token upon presentation thereof by the consumer'"'"'s device in connection with the transaction;
authorizing, by the merchant system, the transaction based on (i) successful decryption of the token and (ii) the trust level without communication with the transaction-processing entity;
subsequent to authorization of the transaction by the merchant system, communicating, by the merchant to the transaction-processing entity, a record of the transaction and authorization thereof; and
following the communication from the merchant system to the transaction-processing entity, completing the authorized transaction by causing funds to be transferred from the consumer'"'"'s financial account to the merchant.
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Abstract
Payment tokens designed for display on a consumer'"'"'s mobile device include dynamic trust data (e.g., transaction history and/or token generation date) along with financial account information, enabling merchants to make an informed decision about whether to accept payment without communication with the central processing system, and also protecting the consumer'"'"'s account information from theft.
251 Citations
26 Claims
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1. A method of processing a transaction among a consumer, a merchant point-of-sale system and a transaction-processing entity, the method comprising:
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generating a token encrypted with data identifying a financial account of the consumer and trust data for the consumer; receiving and storing the token by a device of the consumer; reading and decrypting, by the merchant system, the token upon presentation thereof by the consumer'"'"'s device in connection with the transaction; authorizing, by the merchant system, the transaction based on (i) successful decryption of the token and (ii) the trust level without communication with the transaction-processing entity; subsequent to authorization of the transaction by the merchant system, communicating, by the merchant to the transaction-processing entity, a record of the transaction and authorization thereof; and following the communication from the merchant system to the transaction-processing entity, completing the authorized transaction by causing funds to be transferred from the consumer'"'"'s financial account to the merchant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A system for processing a transaction among a consumer, a merchant and a transaction-processing entity, the system comprising:
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a token server for (i) generating a token encrypted with data identifying a financial account of the consumer and trust data for the consumer, and (ii) communicating the token to a device of the consumer; a point-of-sale system for reading and decrypting the token upon presentation thereof by the consumer in connection with the transaction, the point-of-sale system being configured to authorize the transaction based on (i) successful decryption of the token and (ii) the trust level without communication with the transaction-processing entity; and a transaction-processing server configured to (i) receive, from the point-of-sale system subsequent to transaction authorization, a record of the transaction and authorization thereof, and (ii) cause completion of the authorized transaction by causing funds to be transferred from the consumer'"'"'s financial account to the merchant. - View Dependent Claims (19, 20, 21, 22, 23, 24)
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25. A method of processing a transaction among a consumer, a merchant point-of-sale system and a transaction-processing entity, the method comprising:
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generating a token with a digital signature, encrypted using a private key, with data identifying a financial account of the consumer and trust data for the consumer; receiving and storing the token and the signature by a device of the consumer; reading the token and decrypting the signature, by the merchant system, upon presentation of the token by the consumer'"'"'s device in connection with the transaction; authorizing, by the merchant system, the transaction based on (i) successful verification of the signature and (ii) the trust level without communication with the transaction-processing entity; subsequent to authorization of the transaction by the merchant system, communicating, by the merchant to the transaction-processing entity, a record of the transaction and authorization thereof; and following the communication from the merchant system to the transaction-processing entity, completing the authorized transaction by causing funds to be transferred from the consumer'"'"'s financial account to the merchant.
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26. A system for processing a transaction among a consumer, a merchant and a transaction-processing entity, the system comprising:
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a token server for (i) generating a token with a digital signature, encrypted using a private key, with data identifying a financial account of the consumer and trust data for the consumer, and (ii) communicating the token to a device of the consumer; a point-of-sale system for reading and decrypting the signature upon presentation of the token by the consumer in connection with the transaction, the point-of-sale system being configured to authorize the transaction based on (i) successful verification of the signature and (ii) the trust level without communication with the transaction-processing entity; and a transaction-processing server configured to (i) receive, from the point-of-sale system subsequent to transaction authorization, a record of the transaction and authorization thereof, and (ii) cause completion of the authorized transaction by causing funds to be transferred from the consumer'"'"'s financial account to the merchant.
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Specification