METHOD AND SYSTEM FOR FACILITATING DESIGNATED PAYMENT TRANSACTION

• US 20190318345A1
• Filed: 04/05/2019
• Published: 10/17/2019
• Est. Priority Date: 04/13/2018
• Status: Abandoned Application

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Kallugudde, Manu Dharmaiah
• Application Number:
  US16/376,715
• Publication Number:
  US 20190318345A1
• Time in Patent Office: Days
• CPC Class Codes: G06Q 20/229 Hierarchy of users of accounts
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3226 Use of secure elements separate from M-devices
• CPC Class Codes: G06Q 20/351 Virtual cards
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/38215 Use of certificates or encrypted proofs of transaction rights
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G06Q 2220/00 Business processing using cryptography postage metering system using cryptography G06Q2250/05
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 9/50 using hash chains, e.g. blockchains or hash trees

Abstract

Embodiments provide methods, and server systems for enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user. In an embodiment, the method includes receiving, by a server system associated with a payment network, a tokenization request generated by the first user. The tokenization request at least includes a card information of the payment card and an identifier of the electronic device of the second user. The method includes facilitating an authorization of the tokenization request. Upon successful authorization of the tokenization request, the method includes generating a digital token including a tokenized card information of the payment card. Moreover, the method includes facilitating the digital token to the electronic device of the second user for making the payment transaction on behalf of the first user at a merchant interface.

Claims

1. A method of enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user, the method comprising:

receiving, by a server system associated with a payment network, a tokenization request generated by the first user, the tokenization request at least comprising a card information of the payment card and an identifier of the electronic device of the second user;

facilitating, by the server system, an authorization of the tokenization request;

upon successful authorization of the tokenization request, generating, by the server system, a digital token comprising a tokenized card information of the payment card; and

facilitating, by the server system, the digital token to the electronic device of the second user for making the payment transaction on behalf of the first user at a merchant interface.

2. The method as claimed in claim 1, wherein the server system is a payment server and wherein the method further comprises:

receiving the digital token presented by the second user at the merchant interface via an acquirer server, wherein the merchant interface is a contactless tap and pay transaction device;

validating the digital token;

upon successful validation of the digital token, retrieving the card information of the payment card from the digital token;

sending the retrieved card information and a transaction amount to an issuer server for authorization; and

facilitating completion of the payment transaction by the second user on behalf of the first user upon successful authorization of the card information and the transaction amount.

3. The method as claimed in claim 2, wherein facilitating completion of the payment transaction further comprises:

performing authentication of the second user based at least on verification of any one of;

a biometric information of the second user; and

a personal identification number (PIN) of the electronic device of the second user.

4. The method as claimed in claim 1, wherein the server system is a payment server and wherein receiving the tokenization request by the first user comprises:

receiving the tokenization request from a token requestor server, the token requestor server configured to facilitate a payment application accessible on a user device of the first user to generate the tokenization request.

5. The method as claimed in claim 4, further comprising:

sending the digital token, by the payment server, to the token requestor server, the token requestor server configured to send the digital token to the electronic device of the second user.

6. The method as claimed in claim 4, further comprising:

sending the digital token using the payment application accessible on the user device of the first user to the electronic device of the second user.

7. The method as claimed in claim 1, wherein facilitating the authorization of the tokenization request comprises:

validating the card information of the payment card by an issuer server; and

approving a transaction limit of the payment transaction by the issuer server, if the transaction limit is set by the first user.

8. The method as claimed in claim 1, wherein the tokenization request further comprises at least one of:

a mobile number of the second user;

a payment application identifier of the second user;

a primary account number of the first user;

an identification information of the second user; and

restrictions for the use of the token by the second user.

9. The method as claimed in claim 8, wherein the restrictions for the use of the token by the second user comprise at least one of:

an expiration date;

a limit to a number of transactions;

a limit for a transaction amount;

a limit for accumulated transaction amounts;

a restriction on certain merchants by defining merchant names; and

a restriction on certain merchants by defining one or more merchant category codes.

10. The method as claimed in claim 1, wherein generating the digital token further comprises:

associating a cryptogram with the digital token.

11. A server system in a payment network for enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user, the server system comprising:

a communication interface for receiving a tokenization request generated by the first user, the tokenization request at least comprising a card information of the payment card and an identifier of the electronic device of the second user;

a memory comprising executable instructions; and

a processor communicably coupled to the communication interface and configured to execute the instructions to cause the server system to at least;

facilitate an authorization of the tokenization request;

upon successful authorization of the tokenization request, generate a digital token comprising a tokenized card information of the payment card; and

facilitate the digital token to the electronic device of the second user for making the payment transaction on behalf of the first user at a merchant interface.

12. The server system as claimed in claim 11, wherein the server system is a payment server and wherein the server system is further caused to:

receive the digital token presented by the second user at the merchant interface via an acquirer server, wherein the merchant interface is a contactless tap and pay transaction device;

validate the digital token; and

upon successful validation of the digital token, retrieve the card information of the payment card from the digital token;

send the retrieved card information and a transaction amount to an issuer server for authorization; and

facilitate completion of the payment transaction by the second user on behalf of the first user upon successful authorization of the card information and the transaction amount.

13. The server system as claimed in claim 12, wherein for facilitating completion of the payment transaction, the server system is caused to:

perform authentication of the second user based at least on verification of any one of;

a biometric information of the second user, and

a personal identification number (PIN) of the electronic device of the second user.

14. The server system as claimed in claim 11, wherein the server system is a payment server and wherein for receiving the tokenization request by the first user, the server system is further caused to:

receive the tokenization request from a token requestor server, the token requestor server configured to facilitate a payment application accessible on a user device of the first user to generate the tokenization request.

15. The server system as claimed in claim 14, wherein the server system is further caused to:

send the digital token, by the payment server, to the token requestor server, the token requestor server configured to send the digital token to the electronic device of the second user.

16. The server system as claimed in claim 14, wherein the server system is further caused to:

send the digital token using the payment application accessible on the user device of the first user to the electronic device of the second user.

17. The server system as claimed in claim 11, wherein for facilitating the authorization of the tokenization request, the server system is caused to:

validate the card information of the payment card by an issuer server; and

approve a transaction limit of the payment transaction by the issuer server, if the transaction limit is set by the first user.

18. The server system as claimed in claim 11, wherein the tokenization request further comprises at least one of:

a mobile number of the second user;

a payment application identifier of the second user;

a primary account number of the first user;

an identification information of the second user; and

restrictions for the use of the token by the second user.

19. The server system as claimed in claim 18, wherein the restrictions for the use of the token by the second user comprise at least one of:

an expiration date;

a limit to a number of transactions;

a limit for a transaction amount;

a limit for accumulated transaction amounts;

a restriction on certain merchants by defining merchant names; and

a restriction on certain merchants by defining one or more merchant category codes.

20. The server system as claimed in claim 11, wherein for generating the digital token, the server system is caused to:

associate a cryptogram with the digital token.

21. A server system in a payment network for enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user, the server system comprising:

a database for storing a digital token comprising a tokenized card information of the payment card;

a communication interface for receiving the digital token presented by the second user at a merchant interface;

a memory comprising executable instructions; and

a processor communicably coupled to the communication interface and the database, the processor configured to execute the instructions to cause the server system to;

validate the digital token;

upon successful validation of the digital token, retrieve the card information of the payment card from the digital token;

facilitate completion of the payment transaction by the second user on behalf of the first user upon successful authorization of the card information.

22. The server system as claimed in claim 21, wherein the server system is caused to:

send the retrieved card information to an issuer server for authorization.