SYSTEM AND METHOD FOR PERFORMING AUTOMATIC PAYMENT TRANSACTIONS

• US 20160171502A1
• Filed: 12/10/2014
• Published: 06/16/2016
• Est. Priority Date: 12/10/2014
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Maenpaa, Pia K.
• Granted Patent: US 10,043,171 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/4014 Identity check for transactions

Abstract

A method and system of conducting a payment transaction including receiving, by a payment platform, a verification query including payment profile identification information and a payment request. The payment request includes merchant information. The payment profile identification information is obtained from a payment device using wireless communication. The payment device is associated with a payer, and the payment transaction is initiated in response to the presence of the payment device in a predetermined payment charging area. Comparing, using the payment platform, the payment profile identification information and the merchant information with stored verification parameters to determine if the payment profile identification information is properly associated with the merchant information. Verifying, using the payment platform, the payment transaction in response to the payment profile identification information being properly associated with the merchant information.

Claims

1. A method of conducting a payment transaction comprising:

receiving, by a payment platform, a verification query including payment profile identification information and a payment request, the payment request including merchant information, the payment profile identification information being obtained from a payment device using wireless communication, the payment device being associated with a payer, the payment transaction being initiated in response to the presence of the payment device in a predetermined payment charging area;

comparing, using the payment platform, the payment profile identification information and the merchant information with stored verification parameters to determine if the payment profile identification information is properly associated with the merchant information; and

verifying, using the payment platform, the payment transaction in response to the payment profile identification information being properly associated with the merchant information.

2. The method as defined in claim 1 wherein the platform provides the payment profile information to the payee.

3. The method as defined in claim 1, wherein the platform verifies that the merchant is approved.

4. The method as defined in claim 1 further comprising, denying, using the payment platform system, the payment transaction in response to the payment profile identification information and the payment request not being properly associated.

5. The method as defined in claim 1, wherein the payment profile is an account number.

6. The method as defined in claim 1, wherein the payment profile includes information relevant to the transaction.

7. The method as defined in claim 1, wherein the payer has a plurality of payment profiles associated therewith

8. The method as defined in claim 7, wherein one of the plurality of profiles is related to the type of transaction.

9. The method as defined in claim 7, wherein one of the plurality of profiles is a personal profile including information specific to the payee or payee type.

10. The method as defined in claim 7, wherein the wireless communication device scans for the presence of payment profiles is a predetermined order, wherein a payment profile specific to the transaction type is scanned first.

11. The method as defined in claim 10, wherein the predetermined order includes first scanning for a payment profile specific to the transaction, and if a suitable profile is found scanning ceases.

12. The method as defined in claim 11, wherein if a payment profile specific to the transaction is not located, the scanning device scans for an alternative payment profile.

13. The method as defined in claim 2, wherein the payment profile includes information required to determine pricing.

14. The method as defined in claim 2, wherein the payer populates the payment profile with payment information and controls access to the payment profiles by the wireless communication device.

15. The method as defined in claim 2, wherein the verification by the payment platform includes determining if a prior transaction has occurred between the payee and the payer.

16. The method as defined in claim 2, wherein the verification by the payment platform includes determining if the payee is registered with the payment platform.

17. The method as defined in claim 2, wherein the verification by the payment platform includes reviewing the time and location of the transaction.

18. The method as defined in claim 2, wherein the payment platform reviews the payer'"'"'s previous payment transactions and collected relevant previous transactions by all users of the platform, when preforming the transaction verification.

19. The method as defined in claim 2, wherein upon verification of the payment transaction, the payment platform processes the payment by transmitting payment details over a payment network.

20. A payment authorization system comprising:

a first payment profile and a second payment profile, each of the first and second profiles containing information being specific to a payer, the first payment profile containing information different from the second payment profile, the first payment profile being related to a first payment activity, the second payment profile being related to a second payment activity, the first and second payment profiles being related to identification information carried by a payment device adapted to wirelessly communicate with a scanning device;

a payment platform operably connectable to the scanning device, the payment platform receiving at least one of the first and second payment profiles, the payment platform comparing the payment profile identification information and the merchant information with stored verification parameters to determine if the payment profile identification information is properly associated with the merchant information; and

verifying, using the payment platform system, the payment transaction in response to the payment profile identification information being properly associated with the merchant information.

21. The system as defined in claim 20, wherein a payee populates the first and second payment profiles with information used for a payment transaction.

22. The system as defined in claim 21, wherein the first payment profile includes information specific to a type of payment transaction.

23. The system as defined in claim 20, wherein the payment platform provides payment information to a payment network or the payee upon approval of the transaction.

24. The system as defined in claim 20, wherein the payment platform accesses a database to determine if the payer had previously made a payment transaction with the payee.

25. Payment transaction system comprising:

a payment platform including a processing device and receiving a verification query including payment profile identification information and a payment request, the payment request including merchant information, the payment profile identification information being obtained from a payment device using wireless communication, the payment device being associated with a payer, the payment transaction being initiated in response to the presence of the payment device in a predetermined payment charging area,

the payment platform comparing the payment profile identification information and the merchant information with stored verification parameters to determine if the payment profile identification information is properly associated with the merchant information, and

the payment platform verifying the payment transaction in response to the payment profile identification information being properly associated with the merchant information.

26. The system as defined in claim 25, wherein the stored payment verification parameters is selected from the group consisting of historical transaction activities, transaction details, secure identifiers, and registration with the payment platform.

27. The system as defined in claim 25, wherein the payment profile identification information include a first payment profile and a second payment profile, the first payment profile including different information than the second payment profile, and the first profile being used to conduct a first type of payment transaction and the second profile being used to conduct a second type of payment transaction.