System and method for facilitating a financial transaction with a dynamically generated identifier
First Claim
1. A computer-implemented method for facilitating an authorization of a purchase transaction, said method comprising:
- receiving a purchase request message, at a merchant computer system having a processor and non-transitory memory, for a purchase transaction, wherein said purchase request message includes a code as part of said purchase request message, and wherein said code is retrieved from a preexisting field of an electronic payment form from said merchant computer system, wherein said code is entered into a pre-existing card identifier (CID) field of said electronic payment form, and wherein said merchant computer system does not know a type of said code within said purchase request message;
transmitting, from said merchant computer system, at least a portion of said purchase request message to an authorization system in a pre-existing data message comprising said code, wherein said authorization system authenticates said code;
receiving, at said merchant computer system, a response from said authorization system in a pre-existing data message indicating that said code is a valid dynamically generated code comprising four digit batch code (4DBC) and confirms an allocation to an issuer of a fraud risk associated with said purchase transaction, wherein said response includes an authorization code related to said purchase transaction and indicative of said authorization being based on validation of said dynamically generated code; and
completing, by said merchant computer system, said purchase transaction.
3 Assignments
0 Petitions
Accused Products
Abstract
Instead of a PIN which is associated with an account and provides access to an account, a dynamically generated card identifier (dynamic CID) is used to verify that the consumer currently possesses the transaction card at the time of purchase and/or is the true card owner. At the time of purchase, a token generates a dynamic CID, which changes with each transaction. A consumer enters the dynamic CID into a pre-existing CID field in an electronic order form. The merchant then sends the dynamic CID to a card authorization system within an authorization request. The card authorization system issues a response to a merchant system via a pre-existing authorization message indicating that the transaction card and dynamic CID have been validated, thereby adjusting the fraud risk associated with the transaction.
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Citations
12 Claims
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1. A computer-implemented method for facilitating an authorization of a purchase transaction, said method comprising:
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receiving a purchase request message, at a merchant computer system having a processor and non-transitory memory, for a purchase transaction, wherein said purchase request message includes a code as part of said purchase request message, and wherein said code is retrieved from a preexisting field of an electronic payment form from said merchant computer system, wherein said code is entered into a pre-existing card identifier (CID) field of said electronic payment form, and wherein said merchant computer system does not know a type of said code within said purchase request message; transmitting, from said merchant computer system, at least a portion of said purchase request message to an authorization system in a pre-existing data message comprising said code, wherein said authorization system authenticates said code; receiving, at said merchant computer system, a response from said authorization system in a pre-existing data message indicating that said code is a valid dynamically generated code comprising four digit batch code (4DBC) and confirms an allocation to an issuer of a fraud risk associated with said purchase transaction, wherein said response includes an authorization code related to said purchase transaction and indicative of said authorization being based on validation of said dynamically generated code; and completing, by said merchant computer system, said purchase transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer-implemented method for authorizing a dynamically generated code, said method comprising:
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receiving, at a host computer having a processor and non-transitory memory, at least a portion of a purchase request message to authorize a purchase transaction from a merchant server, wherein said purchase request message includes a code, and wherein said code is in a pre-existing data message and retrieved from a preexisting field of an electronic payment form from said merchant server, wherein said code is entered into a pre-existing card identifier (CID) field of said electronic payment form, and wherein said merchant server does not know a type of said code within said purchase request message; authorizing, at said host computer, said code as a valid dynamically generated code comprising a four digit batch code (4DBC); adjusting, by said host computer, a fraud risk associated with said purchase transaction based upon said dynamically generated code; and transmitting, by said host computer, said authorization of said dynamically generated code to said merchant server in a pre-existing data message, wherein said authorization includes an authorization code related to said purchase transaction and indicative of said dynamically generated code being valid, wherein said authorization code confirms allocation to an issuer of said fraud risk associated with said purchase transaction, and said authorization being based on validation of said dynamically generated code.
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9. A computer-implemented method for conducting a purchase transaction, said method comprising:
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generating, by a personal computing device having a processor and non-transitory memory, a code, wherein said code is entered into a pre-existing card identifier (CID) field of an electronic payment form; and
,sending, by said personal computing device, a purchase request message in a pre-existing data message to a merchant computer system for a purchase transaction, wherein said purchase request message includes said code, and wherein said merchant computer system does not know a type of said code within said purchase request message, and wherein said merchant computer system transmits at least a portion of said purchase request message to an authorization system in a pre-existing data message and receives a response from said authorization system in a pre-existing data message indicating that said code is valid dynamically generated code comprising a four digit batch code (4DBC) before completing said purchase transaction, and wherein said response includes an authorization code related to said purchase transaction and said dynamically generated code being valid, wherein said authorization code confirms allocation to an issuer of a fraud risk associated with said purchase transaction, and indicative of said authorization being based on said dynamically generated code. - View Dependent Claims (10)
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11. An authorization system for processing a purchase transaction, said authorization system comprising:
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a network interface communicating with a non-transitory memory comprising a database; said memory communicating with a host computer; said host computer, executing a plurality of computer programs, is configured to; receive, at said host computer, at least a portion of a purchase request message to authorize a purchase transaction from a merchant server, wherein said purchase request message includes a code, and wherein said code is in a pre-existing data message and retrieved from a preexisting field of an electronic payment form from said merchant server, wherein said code is entered into a pre-existing card identifier (CID) field of said electronic payment form, and wherein said merchant server does not know a type of said code within said purchase request message; authorize, at said host computer, said code as a valid dynamically generated code comprising a four digit batch code (4DBC); adjust, by said host computer, a fraud risk associated with said purchase transaction based upon said dynamically generated code; and transmit, by said host computer, said authorization of said dynamically generated code to said merchant server in a pre-existing data message, wherein said authorization includes an authorization code related to said purchase transaction and indicative of said dynamically generated code being valid, wherein said authorization code confirms allocation to an issuer of said fraud risk associated with said purchase transaction, and said authorization being based on validation of said dynamically generated code.
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12. A non-transitory, tangible computer readable storage medium having computer readable instructions stored thereon that, if executed by a host computer, perform operations for authorizing a transaction, comprising:
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receiving, at said host computer, at least a portion of a purchase request message to authorize a purchase transaction from a merchant server, wherein said purchase request message includes a code, and wherein said code is in a pre-existing data message and retrieved from a preexisting field of an electronic payment form from said merchant server, wherein said code is entered into a pre-existing card identifier (CID) field of said electronic payment form, and wherein said merchant server does not know a type of said code within said purchase request message; authorizing, by said host computer, said code as a valid dynamically generated code comprising a four digit batch code (4DBC); adjusting, by said host computer, a fraud risk associated with said purchase transaction based upon said dynamically generated code; and transmitting, by said host computer, said authorization of said dynamically generated code to said merchant server in a pre-existing data message, wherein said authorization includes an authorization code related to said purchase transaction and indicative of said dynamically generated code being valid, wherein said authorization code confirms allocation to an issuer of said fraud risk associated with said purchase transaction, and said authorization being based on validation of said dynamically generated code.
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Specification