Method and system for providing virtual credit card services

• US 9,324,066 B2
• Filed: 12/21/2009
• Issued: 04/26/2016
• Est. Priority Date: 12/21/2009
• Status: Active Grant

• Current Assignee: Verizon Patent and Licensing Incorporated (Verizon Communications Inc.)
• Original Assignee: Verizon Patent and Licensing Incorporated (Verizon Communications Inc.)
• Inventors: Archer, Steven T., Clavenna, Robert A., Pate, Kristopher A., Hubner, Paul
• Primary Examiner(s): YU, ARIEL J
• Application Number:
  US12/643,424
• Publication Number:
  US 20110153437A1
• Time in Patent Office: 2,318 Days
• Field of Search: None
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/351 Virtual cards
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes

Abstract

An approach is provided for virtual credit card services. A request for a limited use transactional account number representing a virtual credit card is generated at a mobile device. The limited use transactional account number is received in response to the request. A point of sale interface is configured with the limited use transactional account number for presentation at a point of sale terminal.

Claims

1. A method of requesting and receiving a limited use transactional account number at a mobile device comprising:

presenting a user interface at a display of a mobile device, the mobile device including a global positioning system (GPS) receiver;

determining via the GPS receiver of the mobile device spatial positioning information corresponding to a location of the mobile device;

receiving customized input from a user via the user interface, the customized input including at least a request for a limited use transactional account number from one or more credit card issuers within a predefined proximity of the location of the mobile device, and monetary limit for the limited use transactional account number, wherein at the time of the request it is not known to the user what maximum monetary limit for the requested limited use transactional account number is acceptable to any credit card issuer within the predefined proximity of the mobile device;

determining to receive at the mobile device, in response to the request, based on the spatial positioning information, one or more virtual credit options from the one or more credit card issuers within the predefined proximity of the mobile device, wherein the one or more virtual credit options include terms, conditions, and agreements specified by the one or more credit card issuers that must be accepted before the one or more credit card issuers would be willing to extend credit to the user;

determining to generate, at the user interface, a selection of a particular credit option from the one or more virtual credit options, wherein the selection includes specific acceptance of the terms, conditions, and agreements specified by the one or more credit card issuers;

determining to receive at the mobile device, in response to the selection, the limited use transactional account number from the credit card issuer within the predefined proximity that corresponds to the selected particular credit option;

determining to configure at the display of the mobile device, for presentation at a point of sale terminal, a point of sale interface with the limited use transactional account number; and

upon condition that the limited use transactional account number of the point of sale interface configured at the mobile device has been reported to the one or more credit card issuers as lost, stolen, or otherwise compromised, determining to receive at the point of sale interface, configured at the display of the mobile device, a false or trick limited use transactional account number from the one or more credit card issuers that, when utilized in association with a subsequent point of sale transaction, is configured to alert one or more authoritative agencies that the false or trick limited use transactional account numbers is being used at the subsequent point of sale transaction.

2. A method according to claim 1, wherein the customized input further includes at least one of expiration date and transaction type.

3. A method according to claim 1, further comprising:

configuring a display of the mobile device with the limited use transactional account number and at least one or more other virtual credit card values,

wherein the one or more other virtual credit card values include at least one of an identifier of a credit institution, an identifier of a subscriber, a credit verification value code, and an expiration value.

4. A method according to claim 1, wherein the point of sale interface includes a configurable bearer tag transponder.

5. A method according to claim 4, wherein the customized input further includes at least one of expiration date and transaction type.

6. A method according to claim 1, wherein the limited use transactional account number is a one-time use transactional account number.

7. A method according to claim 6, wherein the customized input further includes transaction type.

8. A method according to claim 1, further comprising:

removing the limited use transaction account number from the point of sale interface after expiration of at least one of one or more predefined expiration values.

9. A method according to claim 8, wherein the one or more predefined expiration values include at least one of an expiration date and a number of transactions with the limited use transactional account number.

10. A mobile device comprising:

a display;

a global positioning system (GPS) receiver receiving GPS information;

at least one processor; and

at least one memory including computer program code, the at least one memory and the computer program code being configured, with the at least one processor, to cause the mobile device at least to;

present a user interface at the display of the mobile device;

determine spatial positioning information corresponding to a location of the mobile device based on the GPS information received by the GPS receiver;

receive customized input from a user via the user interface, the customized input including at least a request for a limited use transactional account number from one or more credit card issuers within a predefined proximity of the location of the mobile device, and monetary limit for the limited use transactional account number, wherein at the time of the request it is not known to the user what maximum monetary limit for the requested limited use transactional account number is acceptable to any credit card issuer within the predefined proximity of the mobile device;

determine to receive at the mobile device, in response to the request, based on the spatial positioning information, one or more virtual credit options from the one or more credit card issuers within the predefined proximity of the mobile device, wherein the one or more virtual credit options include terms, conditions, and agreements specified by the one or more credit card issuers that must be accepted before the one or more credit card issuers would be willing to extend credit to the user;

determine to generate, at the user interface, a selection of a particular credit option from the one or more virtual credit options, wherein the selection includes specific acceptance of the terms, conditions, and agreements specified by the one or more credit card issuers;

determine to receive, in response to the selection, the limited use transactional account number from the credit card issuer within the predefined proximity that corresponds to the selected particular credit option;

determine to configure at the display of the mobile device, for presentation at a point of sale terminal, a point of sale interface with the limited use transactional account number; and

upon condition that the limited use transactional account number of the point of sale interface configured at the display of the mobile device has been reported to the one or more credit card issuers as lost, stolen, or otherwise compromised, determine to receive at the point of sale interface, configured at the display of the mobile device, a false or trick limited use transactional account number from the one or more credit card issuers that, when utilized in association with a subsequent point of sale transaction, is configured to alert one or more authoritative agencies that the false or trick limited use transactional account numbers is being used at the subsequent point of sale transaction.

11. A mobile device according to claim 10, wherein the customized input further includes at least one of expiration date and transaction type.

12. A mobile device according to claim 10, wherein the apparatus is at least further caused to:

configure a display with the limited use transactional account number and at least one or more other virtual credit card values,

wherein the one or more other virtual credit card values include at least one of an identifier of a credit institution, an identifier of a subscriber, a credit verification value code, and an expiration value.

13. A mobile device according to claim 10, wherein the point of sale interface includes a configurable bearer tag transponder.

14. A mobile device according to claim 13, wherein the customized input further includes at least one of expiration date and transaction type.

15. A mobile device according to claim 10, wherein the limited used transactional account number is a one-time use transactional account number.

16. A mobile device according to claim 10, wherein the apparatus is at least further caused to:

remove the limited use transactional account number from the point of sale interface after expiration of at least one of one or more predefined expiration values.

17. A mobile device according to claim 16, wherein the one or more predefined expiration values include at least one of an expiration date and a number of transactions with the limited use transactional account number.