METHOD AND SYSTEM FOR PROCESSING PAYMENTS
First Claim
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1. A method comprising the steps of:
- receiving at a payment processor from a merchant a retailer settlement request including a purchase cost of a good or service that a potential purchaser is seeking to purchase from the merchant, wherein the payment processor does not receive from the merchant a card number of a credit card or debit card of the potential purchaser;
receiving at the payment processor from an electronic device of the potential purchaser a consumer settlement authorization indicating authorization by the potential purchaser to pay the purchase cost; and
if there is a match between the retailer settlement request and the consumer settlement authorization, the payment processor processing payment of the purchase cost from an account represented by the card number if sufficient funds are available in the account.
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Accused Products
Abstract
A payment processing system, components thereof and associated methods are provided which may prevent fraud associated with financial transactions.
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Citations
20 Claims
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1. A method comprising the steps of:
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receiving at a payment processor from a merchant a retailer settlement request including a purchase cost of a good or service that a potential purchaser is seeking to purchase from the merchant, wherein the payment processor does not receive from the merchant a card number of a credit card or debit card of the potential purchaser; receiving at the payment processor from an electronic device of the potential purchaser a consumer settlement authorization indicating authorization by the potential purchaser to pay the purchase cost; and if there is a match between the retailer settlement request and the consumer settlement authorization, the payment processor processing payment of the purchase cost from an account represented by the card number if sufficient funds are available in the account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A method comprising the steps of:
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receiving at a payment processor from a merchant a retailer settlement request including a purchase cost of a good or service that a potential purchaser is seeking to purchase from the merchant, wherein the payment processor does not receive from the merchant a card number of a credit card or debit card of the potential purchaser; receiving at the payment processor from an electronic device of the potential purchaser a consumer settlement authorization indicating authorization by the potential purchaser to pay the purchase cost; and transmitting from the payment processor to at least one of the merchant and electronic device (a) an approval message indicating approval of payment of the purchase cost if there is a match between the retailer settlement request and the consumer settlement authorization, or (b) a denial message indicating denial of payment of the purchase cost if there is not a match between the retailer settlement request and the consumer settlement authorization.
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20. A method comprising the steps of:
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receiving at a payment processor from a merchant a retailer settlement request including a purchase cost of a good or service that a potential purchaser is seeking to purchase from the merchant, wherein the payment processor does not receive from the merchant a card number of a credit card or debit card of the potential purchaser; receiving at the payment processor from an electronic device of the potential purchaser a consumer settlement authorization indicating authorization by the potential purchaser to pay the purchase cost; and the payment processor processing payment of the purchase cost from an account represented by the card number if sufficient funds are available in the account and if a phone line number of the electronic device is active, and not processing payment of the purchase cost from the account if the phone line number is inactive.
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Specification