System and method for completing a secure financial transaction using a wireless communications device

• US 7,909,243 B2
• Filed: 09/27/2007
• Issued: 03/22/2011
• Est. Priority Date: 08/28/2007
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Petrone, James, Merkow, Mark
• Primary Examiner(s): WALSH, DANIEL I
• Application Number:
  US11/862,686
• Publication Number:
  US 20090057393A1
• Time in Patent Office: 1,272 Days
• Field of Search: 235/379, 235/380, 235/462.01, 235/487, 235/435, 705/26, 705/27, 705/35, 705/64, 705/41, 705/67
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3255 using mobile network messaging services for payment, e.g. SMS
• CPC Class Codes: G06Q 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 20/3274 using a pictured code, e.g. barcode or QR-code, being displayed on the M-device
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A system and method for completing a financial transaction using a wireless communication device is provided. A transaction authorization request is sent from the device to an issuer using SMS. An authentication message is sent from the issuer to the device, and a response is sent by a user of the device to confirm the identity of the user. Once the identity of the user is verified, a surrogate account number, in a bar code format, is sent to the mobile communication device to be read by a POS device to complete the financial transaction. A computer program product enabling the systems and methods described is also provided.

Claims

1. A non-transitory, tangible computer-readable medium (“

CRM”

) having computer-executable instructions stored thereon that, when executed by a computer for mobile transactions, cause the computer to perform operations comprising;

receiving a purchase request transmitted from a mobile communication device associated with a buyer;

in response to the purchase request, requesting information relating to an identity of the buyer;

receiving a response to the requesting the information;

determining that the information and the response match; and

electronically sending to the mobile device a surrogate financial account number to enable the buyer to complete a transaction, wherein the surrogate financial account number is encoded in a bar code, and wherein the surrogate financial account number is associated with a financial transaction account of the buyer, and wherein the transaction is associated with the purchase request, wherein the bar code is electronically read from the mobile communication device by a bar code scanner to process the transaction, wherein processing the transaction results in the financial transaction account of the buyer being charged, and wherein the instructions cause the computer to perform operations further comprising converting the surrogate financial account number into bar code format and into the bar code.

2. The CRM of claim 1, wherein the purchase request is transmitted from the mobile communication device using short message service (SMS).

3. The CRM of claim 1, wherein the purchase request is transmitted by an application stored in the mobile communication device.

4. The CRM of claim 1, wherein the surrogate financial account number is sent using SMS.

5. The computer system of claim 1, wherein the purchase request is transmitted by an application stored in the mobile communication device.

12. The method according to claim 3, wherein the response is sent using SMS.

6. A computer system for enabling completion of mobile transactions using a mobile communication device of a buyer comprising:

a network interface communicating with a memory;

the memory communicating with a processor; and

the processor, when executing a computer program for enabling the mobile transactions, is configured to;

receive a purchase request transmitted from the mobile communication device of the buyer;

in response to receiving the purchase request, requesting information relating to an identity of the buyer;

receive a response associated with the requesting the information;

determine that the information and the response match; and

electronically send to the mobile device a surrogate financial account number to enable the buyer to complete one of the transactions, wherein the surrogate financial account number is encoded in a bar code, wherein the surrogate financial account number is associated with a financial transaction account number of the buyer, wherein the one of the transactions is associated with the purchase request, wherein the bar code is electronically read from the mobile communication device by a bar code scanner to process the one of the transactions, and wherein processing the transaction results in the transaction financial account of the buyer being charged, and perform operations further comprising converting the surrogate financial account number into bar code format and into the bar code.

7. The computer system of claim 6, wherein the purchase request is transmitted from the mobile communication device using SMS.

8. The computer system of claim 6, wherein the surrogate account number is sent using SMS.

9. A computer-based method for enabling a mobile transaction comprising:

receiving, by a financial transaction account issuer computer, a purchase request transmitted from the mobile communication device of the buyer;

requesting, by the computer and in response to receiving the purchase request, information relating to an identity of the buyer;

receiving, by the computer, a response associated with the requesting the information;

determining, by the computer, that the information and the response match; and

electronically sending, by the computer to the mobile communication device a surrogate financial account number to enable the buyer to complete a transaction, wherein the surrogate financial account number is encoded into a machine-readable bar code, and wherein the surrogate financial account number is associated with a financial transaction account of the buyer, wherein the surrogate financial account number is associated with a financial transaction account number of the buyer, wherein the transaction is associated with the purchase request, wherein the bar code is read from the mobile communication device by a bar code scanner to process the transaction, wherein processing the financial transaction results in the financial transaction account of the buyer being charged and wherein the surrogate financial account number is converted into bar code format and into the bar code.

10. The method of claim 9, wherein the purchase request is sent using SMS.

11. The method according to claim 9, wherein the requesting information comprises requesting using SMS.

13. A method for completing a mobile transaction, the method comprising:

sending, by a mobile communication device, a transaction authorization request to an issuer;

electronically receiving, by the mobile communication device, an authentication message from the issuer;

sending, by the mobile communication device and to the issuer, a response to the authentication message;

receiving, by the mobile communication device and from the issuer, an SMS containing a surrogate financial account number to enable the buyer to complete the transaction, wherein the surrogate financial account number is associated with a financial transaction account number of the buyer, and wherein the transaction is associated with the transaction authorization request; and

converting the surrogate financial account number into barcode format and into a machine readable bar code, and wherein the bar code is read from the mobile communication device by a bar code scanner to process the transaction, and wherein processing the financial transaction results in the financial transaction account of the buyer being charged.

14. The method of claim 13, wherein the transaction authorization request is sent using SMS.

15. The method of claim 13, wherein the authentication message is sent using SMS.

16. The method of claim 13, wherein the response to the authentication message is sent using SMS.