System and method for secure transactions manageable by a transaction account provider
First Claim
1. A method comprising:
- receiving, by a computer for securely completing a transaction, a proxy code from a transaction device, wherein said transaction device generates multiple proxy codes, including said proxy code and wherein said proxy code originates at said transaction device, wherein said transaction device generates said proxy code prior to said transaction, and wherein said computer comprises a non-transitory memory and a processor;
associating, by said computer, said proxy code to one of multiple transaction account codes, wherein said proxy code is provided to a merchant system for transaction completion, wherein said proxy code is absent of sensitive information, and includes a similar format as said one of multiple transaction account codes, wherein said multiple transaction account codes and user personal information include sensitive information;
receiving, by said computer, from said merchant system a transaction request, said transaction request including said proxy code;
locating, by said computer, said one of multiple transaction account codes associated with said proxy code;
locating, by said computer, a transaction account using said one of multiple transaction account codes; and
processing, by said computer, said transaction request in accordance with said transaction account.
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0 Petitions
Accused Products
Abstract
A system and method for securing a financial transaction using a proxy code, which is assigned a transaction account number. An account issuer permanently assigns the proxy code to a transaction account correlated to the transaction device. The proxy code is uploaded onto the transaction device for later use in completing a transaction request. During transaction completion, the proxy code is provided to a merchant system in lieu of any sensitive account information. Since the proxy code is permanently assigned, the number need not be changed or updated on the merchant system once uploaded into a payment device or merchant database. The account issuer may manipulate the sensitive account information without need to alter the information stored on the merchant database. Since the proxy code contains no sensitive information, the sensitive information related to the transaction account is secured from theft.
61 Citations
15 Claims
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1. A method comprising:
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receiving, by a computer for securely completing a transaction, a proxy code from a transaction device, wherein said transaction device generates multiple proxy codes, including said proxy code and wherein said proxy code originates at said transaction device, wherein said transaction device generates said proxy code prior to said transaction, and wherein said computer comprises a non-transitory memory and a processor; associating, by said computer, said proxy code to one of multiple transaction account codes, wherein said proxy code is provided to a merchant system for transaction completion, wherein said proxy code is absent of sensitive information, and includes a similar format as said one of multiple transaction account codes, wherein said multiple transaction account codes and user personal information include sensitive information; receiving, by said computer, from said merchant system a transaction request, said transaction request including said proxy code; locating, by said computer, said one of multiple transaction account codes associated with said proxy code; locating, by said computer, a transaction account using said one of multiple transaction account codes; and processing, by said computer, said transaction request in accordance with said transaction account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for securely completing a transaction, said system comprising:
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a network interface communicating with a memory; said memory communicating with a processor for virtual mobile transactions; and said processor, when executing a computer program, performs operations comprising; receiving, by said processor, a proxy code from a transaction device, wherein said transaction device generates multiple proxy codes, including said proxy code and wherein said proxy code originates at said transaction device; associating, by said processor, said proxy code to one of multiple transaction account codes, wherein said proxy code is provided to a merchant system for transaction completion, wherein said proxy code is absent of sensitive information, and includes a similar format as said one of multiple transaction account codes, wherein said multiple transaction account codes and user personal information include sensitive information; receiving from said merchant system a transaction request, by said processor, said transaction request including said proxy code; locating, by said processor, said one of multiple transaction account codes associated with said proxy code; locating, by said processor, a transaction account using said one of multiple transaction account codes; and processing, by said processor, said transaction request in accordance with said transaction account. - View Dependent Claims (14, 15)
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13. A non transitory computer-readable storage medium having computer-executable instructions stored thereon that, if executed by a virtual mobile transactions computer, causes the computer to perform operations, comprising:
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receiving, by said computer, a proxy code from a transaction device, wherein said transaction device generates multiple proxy codes, including said proxy code and wherein said proxy code originates at said transaction device, wherein said computer comprises a non transitory memory and a processor; associating, by said computer, said proxy code to one of multiple transaction account codes, wherein said proxy code is provided to a merchant system for transaction completion, wherein said proxy code is absent of sensitive information, and includes a similar format as said one of multiple transaction account codes, wherein said multiple transaction account codes and user personal information include sensitive information; receiving, by said computer, from said merchant system a transaction request, said transaction request including said proxy code; locating, by said computer, said one of multiple transaction account codes associated with said proxy code; locating, by said computer, a transaction account using said one of multiple transaction account codes; and processing, by said computer, said transaction request in accordance with said transaction account.
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Specification