Systems and methods for encoded alias based transactions

• US 9,123,040 B2
• Filed: 02/24/2011
• Issued: 09/01/2015
• Est. Priority Date: 01/21/2011
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: III Holdings 1, LLC
• Inventors: Sugathan, Man, Kelly, Nicholas, Yong, Daniel, Tune, James
• Primary Examiner(s): Qayyum, Zeshan
• Application Number:
  US13/034,227
• Publication Number:
  US 20120191611A1
• Time in Patent Office: 1,650 Days
• Field of Search: None
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

Abstract

Disclosed is a computer based method for securing a financial transaction. A transaction device does not include any human readable data that can be used to identify the account owner and/or the transaction account. A first code and a second code are combined to determine an alias transaction account code. A transaction account is determined based upon the alias transaction account code.

Claims

1. A method, comprising:

obtaining, by a computer-based system for facilitating a secure transaction and from a virtual mobile transaction computer, first encoded data and second encoded data;

obtaining, by the computer-based system, a plurality of alias transaction account codes by decoding the first encoded data;

obtaining, by the computer-based system, a first alias transaction account code by selecting at least one of the plurality of alias transaction account codes;

obtaining, by the computer-based system, a plurality of security keys by decoding the second encoded data;

obtaining, by the computer-based system, a first security key by selecting at least one of the plurality of security keys;

generating, by the computer-based system, a second alias transaction account code by encrypting the first alias transaction account code with the first security key; and

displaying, by the computer-based system, the second alias transaction account code as part of an authorization request for a financial transaction.

2. The method of claim 1, wherein at least one of the first encoded data and the second encoded data is a quick response (“

QR”

) code.

3. The method of claim 1, further comprising determining, by the computer-based system, the first alias transaction account code based upon at least one of a date, a time, a merchant type, a transaction type, a location, a product type, a transaction instrument, or a payment network.

4. The method of claim 1, further comprising:

determining, by the computer-based system, the first security key based upon at least one of a date, a time, a merchant type, a transaction type, a location, a product type, a transaction instrument, or a payment network.

5. The method of claim 1, further comprising:

receiving, by the computer-based system, a second security key; and

determining, by the computer-based system, the second alias transaction account code based upon the first alias transaction account code, the first security key and the second security key.

6. The method of claim 5, wherein the second security key comprises at least one of a password, a personal identification code, a biometric, or data encoded in a magnetic strip associated with a transaction device.

7. The method of claim 1, further comprising displaying, by the computer-based system, the second alias transaction account code to a point of sale (POS) device;

wherein the computer-based system is a mobile hone device, and wherein the virtual mobile transaction computer is a server system associated with an issuer of transaction accounts.

8. The method of claim 1, further comprising:

receiving, by the computer-based system, an authorization response based upon the authorization request, wherein the authorization response is created based upon an authenticating and by at least one of an account issuer or a payment network, and wherein the authenticating comprises determining a customer account based upon the second alias transaction account code; and

facilitating completion of the financial transaction based upon the authorization response.

9. The method of claim 8, further comprising receiving, by the computer-based system, a settlement request based upon the authorization response, wherein the settlement request comprises at least one of the first alias transaction account code, the second alias transaction account code, or the customer account.

10. An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a computer-based system for facilitating a secure transaction, cause the computer-based system to perform operations comprising:

obtaining, by the computer-based system and from a virtual mobile transaction computer, first encoded data and second encoded data;

obtaining, by the computer-based system, a plurality of alias transaction account codes by decoding the first encoded data;

obtaining, by the computer-based system, a first alias transaction account code by selecting at least one of the plurality of alias transaction account codes;

obtaining, by the computer-based system, a plurality of security keys by decoding the second encoded data;

obtaining, by the computer-based system, a first security key by selecting at least one of the plurality of security keys;

generating, by the computer-based system, a second alias transaction account code by encrypting the first alias transaction account code with the first security key; and

displaying, by the computer-based system, the second alias transaction account code as part of an authorization request for a financial transaction.

11. The article of manufacture of claim 10, wherein at least one of the first encoded data and the second encoded data is a quick response (“

QR”

) code.

12. The article of manufacture of claim 10, the operations further comprising determining, by the computer-based system, the first alias transaction account code based upon at least one of a date, a time, a merchant type, a transaction type, a location, a product type, a transaction instrument, or a payment network.

13. The article of manufacture of claim 10, the operations further comprising:

determining, by the computer-based system, the first security key based upon at least one of a date, a time, a merchant type, a transaction type, a location, a product type, a transaction instrument, or a payment network.

14. The article of manufacture of claim 10, the operations further comprising:

receiving, by the computer-based system, a second security key; and

determining, by the computer-based system, the second alias transaction account code based upon the first alias transaction account code, the first security key and the second security key.

15. The article of manufacture of claim 14, wherein the second security key comprises at least one of a password, a personal identification code, a biometric, or data encoded in a magnetic strip associated with a transaction device.

16. The article of manufacture of claim 10, the operations further comprising displaying, by the computer-based system, the second alia transaction account code to a point of sale (POS) device.

17. The article of manufacture of claim 10, the operations further comprising:

receiving, by the computer-based system, an authorization response based upon the authorization request, wherein the authorization response is created based upon an authenticating and by at least one of an account issuer or a payment network, and wherein the authenticating comprises determining a customer account based upon the second alias transaction account code; and

facilitating completion of the financial transaction based upon the authorization response.

18. A system for facilitating a secure transaction, comprising;

a processor; and

,

a tangible, non-transitory memory configured to communicate with the processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the system to perform operations comprising;

obtaining, by the system and from a virtual mobile transaction computer, first encoded data and second encoded data;

obtaining, by the system, a plurality of alias transaction account codes by decoding the first encoded data;

obtaining, by the system, a first alias transaction account code by selecting at least one of the plurality of alias transaction account codes;

obtaining, by the system, a plurality of security keys by decoding the second encoded data;

obtaining, by the system, a first security key by selecting at least one of the plurality of security keys;

generating, by the system, a second alias transaction account code by encrypting the first alias transaction account code with the first security key; and

displaying, by the system, the second alias transaction account code as part of an authorization request for a financial transaction.