Method for implementing anonymous credit card transactions using a fictitious account name
First Claim
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1. A method for implementing an anonymous Mail Order Telephone Order (“
- MOTO”
) credit card transaction between a user and a merchant, comprising the steps of;
establishing a user account between a credit source and the user which Is associated with a fictitious account name, a user account number, a user key and a user settlement mechanism through which the user can pay the credit source for charges and fees billed to the user account;
providing the user with an electronic card that is comprised of;
a card base;
a storage medium affixed to the card that can be read by a card reader but is not readable by a human eye;
a computer affixed to the card;
an input mechanism for providing input to the computer;
a display controlled by the computer; and
a power source for supplying power to the computer;
wherein the electronic card has the fictitious account name stored in a memory device accessible by the computer, the computer is capable of causing data to be stored in the storage medium and the electronic card is sized such that a standard magnetic stripe reader can read the magnetic storage medium;
completing a MOTO credit card transaction between the user and the merchant in which the user is charged a monetary value by the merchant, comprising the following steps;
entering the user key into the input mechanism;
executing an algorithm by the computer that uses the user key and a card number stored in the electronic card as input variables to generate a valid personal charge number;
visually reading the valid personal charge number from the display;
providing the valid personal charge number and the fictitious account name to the merchant;
sending the monetary value, the valid personal charge number and the fictitious account name to a credit approval center that verifies that the valid personal charge number is valid for the fictitious account name and approves the MOTO credit card transaction; and
sending an approval of the transaction from the credit approval center to the merchant.
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Abstract
A method for implementing an anonymous face to face or Mail Order Telephone Order credit card transaction by a user who has established a user account associated with a fictitious name. The user generates a valid personal charge number by executing an algorithm in a computer affixed to the electronic credit card that uses a user key and a card number as input variables. A merchant is provided with the valid personal charge number and the fictitious name that is submitted for approval to a credit approval center. The electronic credit card is sized such that a standard magnetic stripe reader can read it.
21 Citations
10 Claims
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1. A method for implementing an anonymous Mail Order Telephone Order (“
- MOTO”
) credit card transaction between a user and a merchant, comprising the steps of;establishing a user account between a credit source and the user which Is associated with a fictitious account name, a user account number, a user key and a user settlement mechanism through which the user can pay the credit source for charges and fees billed to the user account; providing the user with an electronic card that is comprised of; a card base; a storage medium affixed to the card that can be read by a card reader but is not readable by a human eye; a computer affixed to the card; an input mechanism for providing input to the computer;
a display controlled by the computer; anda power source for supplying power to the computer; wherein the electronic card has the fictitious account name stored in a memory device accessible by the computer, the computer is capable of causing data to be stored in the storage medium and the electronic card is sized such that a standard magnetic stripe reader can read the magnetic storage medium; completing a MOTO credit card transaction between the user and the merchant in which the user is charged a monetary value by the merchant, comprising the following steps; entering the user key into the input mechanism; executing an algorithm by the computer that uses the user key and a card number stored in the electronic card as input variables to generate a valid personal charge number; visually reading the valid personal charge number from the display; providing the valid personal charge number and the fictitious account name to the merchant; sending the monetary value, the valid personal charge number and the fictitious account name to a credit approval center that verifies that the valid personal charge number is valid for the fictitious account name and approves the MOTO credit card transaction; and sending an approval of the transaction from the credit approval center to the merchant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
- MOTO”
Specification