Virtual payment cards issued by banks for mobile and wearable devices

• US 9,710,804 B2
• Filed: 11/07/2016
• Issued: 07/18/2017
• Est. Priority Date: 10/07/2012
• Status: Active Grant

• Current Assignee: Andrew H.B. Zhou, Dylan T.X. Zhou, Tiger T.G. Zhou, Zhou Tian Xing
• Original Assignee: Andrew H.B. Zhou, Dylan T.X. Zhou, Tiger T.G. Zhou, Zhou Tian Xing
• Inventors: Zhou, Dylan T X, Zhou, Tiger T G, Zhou, Andrew H B, Xing, Zhou Tian
• Primary Examiner(s): WALSH, DANIEL I
• Application Number:
  US15/345,003
• Publication Number:
  US 20170076277A1
• Time in Patent Office: 253 Days
• CPC Class Codes: G06K 19/06028 using bar codes
• CPC Class Codes: G06K 19/06037 multi-dimensional coding
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/321 using wearable devices
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• 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 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/351 Virtual cards
• 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 20/4015 using location information
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0209 Incentive being awarded or redeemed in connection with the playing of a video game
• CPC Class Codes: G06Q 30/0273 Determination of fees for advertising
• CPC Class Codes: G06Q 30/0641 Shopping interfaces

Abstract

Provided is a method for issuing single-use and multiple-use virtual payment cards via a mobile and wearable device. The method may include receiving a card issuance request from a user, prompting the user to enter a user authentication information, accessing a user account maintained by a card issuer, generating the virtual payment card based on payment data of the user account, and providing the virtual payment card to the mobile and wearable device. The method may continue with receiving a transaction request from a merchant and matching merchant identification data provided by the user in the card issuance request and merchant identification data provide by the merchant. If the match of the merchant identification data is determined, the method may continue with authorizing a payment transaction by transferring a payment amount from the virtual payment card to a merchant account associated with the merchant.

Claims

1. A system for issuing single use virtual payment cards via a mobile and wearable device, the system comprising:

a processor configured to;

receive over a data network, from the mobile and wearable device of a user, a card issuance request for issuing a virtual payment card, wherein the card issuance request includes a payment amount and a first merchant identification data associated with a merchant;

in response to the card issuance request, prompt the user to enter a user authentication information;

receive over the data network, from the user, the user authentication information;

based on the user authentication information, accessing a user account maintained by a card issuer, wherein the user account includes at least a payment data associated with the user;

receive over the data network, from the merchant, a transaction request to perform a payment transaction associated with the user, the transaction request including at least a second merchant identification data and data associated with the virtual payment card;

match the first merchant identification data and the second merchant identification data;

upon determining a match of the first merchant identification data and the second merchant identification data, authorize the payment transaction by transferring the payment amount from the virtual payment card to a merchant account associated with the merchant, the merchant account being retrieved from the second merchant identification data, wherein the processor is operable to transfer the payment amount in response to a merchant device reading an optical code encoding the virtual payment card data displayed on the mobile and wearable device of the user and to transmit virtual payment card data from the mobile and wearable device to a merchant device using a near field communication;

based on the transferring, determine that the payment transaction associated with the user is completed; and

based on the determining that the payment transaction is completed, deactivate the virtual payment card;

a card issuance unit connected over the data network to and remotely located from the processor, merchant, and the mobile and wearable device operable to;

based on the payment data associated with the user and the first merchant identification data, generate the virtual payment card, the virtual payment card having a deposit amount, the deposit amount being at least equal to the payment amount requested by the user in the card issuance request; and

provide the virtual payment card to the mobile and wearable device; and

a storage unit operable to store at least the user authentication information, the virtual payment card, the first merchant identification data, and the second merchant identification data, wherein the processor, the mobile and wearable device, the card issuance unit, and the storage unit are remotely located with each other and in operable connection over the data network;

wherein the virtual payment card is associated with a joint operation with banks and top retailers;

wherein the mobile and wearable device is associated with a cloud-based application running on the mobile and wearable device, wherein the cloud-based application resides in a cloud network is provided on the mobile and wearable device via one or more of the following;

a web browser, a projector, and a hologram, an augmented reality (AR) device;

a virtual reality (VR) device;

wherein the cloud-based application is provided for purchasing in one or more applications stores, the one or more applications stores being associated with an operating system running on the mobile and wearable device, the operating system including one of the following;

Microsoft Windows, Linux, Android, Blackberry, iOS, and Windows Phone;

wherein the cloud-based application is provided free of charge or at a predetermined price;

wherein the cloud-based application includes at least a bank account emulation (BAE) client, the BAE client is configured to provide emulation of a bank account to combine with cloud computing and provide an emulated virtual payment card, wherein the bank account is emulated based on metadata associated with the user, a phone number associated with the user, and data associated with a point-of-sale (POS) terminal of the merchant, wherein the BAE client is configured to provide a virtual representation of an emulated bank account;

wherein the operating system associated with the mobile and wearable device is configured to run the BAE client, provide two communication paths for NFC commands from the POS terminal based on an application identifier (AID) associated with the BAE client;

wherein the operating system is configured to use the AID to route the NFC commands to the cloud-based application managing the emulation of the bank account;

wherein when the user presents the emulated virtual payment card for transaction, an NFC command is routed to the BAE client for verification of the NFC commands by the cloud-based application managing the emulation of the bank account;

wherein the cloud-based application is configured to connect to a backend associated with the card issuer to complete the transaction;

wherein the cloud-based application is associated with a trusted tokenization node, the trusted tokenization node being a shared resource used to generate and de-tokenize tokens representing data associated with the virtual payment card at the backend associated with the issuer; and

wherein the BAE client provides multi-level security by providing limited use keys, tokenization, device fingerprinting, and dynamic risk analysis, wherein the limited use keys are derived from a master domain key shared by the issuer, wherein a use of the limited use keys is associated with time to live of the limited use keys and a number of transactions to be performed using the limited use keys, wherein the device fingerprints are profiles associated with the mobile and wearable device and are used to determine that transactions are initiated only by an authorized mobile and wearable device at recognized locations of the POS terminal.

2. The system of claim 1, wherein the processor is further operable to:

display the virtual payment card on the mobile and wearable device to be read by a card reader associated with the merchant.

3. The system of claim 2, wherein the virtual payment card is displayed in a form of a code, the code being selected from a group comprising:

a linear dimensional code, a two-dimensional code, a snap tag code, and a Quick Response (QR) code.

4. The system of claim 1, wherein the processor is further operable to:

set a validity period for the virtual payment card, the validity period being pre-selected by the user and stored in the user account, wherein the deactivating of the virtual payment card is performed upon expiration of the validity period.

5. The system of claim 1, wherein the processor is further operable to:

upon determining that the payment transaction associated with the user is completed, check whether a portion of the deposit amount is present on the virtual payment card;

transfer the portion of the payment amount from the virtual payment card to a payment card associated with the user, the payment card being determined based on the payment data, the payment card including one of a credit card and a debit card.

6. The system of claim 1, wherein the payment data includes data associated with one or more of the following:

a credit card, a debit card, a retail card, a charge card, a bank saving account, a bank checking account, an insurance account, a stored-value card, and a digital mobile currency.

7. The system of claim 1, wherein the card issuer is selected from one or more of the following:

a bank, a credit card company, an insurance company, a credit union, a store, and a third-party organization.

8. The system of claim 1, wherein the user authentication information includes one or more of the following:

a name of the user, an address of the user, a guarantor name, a social security number of the user, a phone number of the user, an identification number of the user, a bank account of the user, an insurance account number of the user, and a photograph of the user.

9. A method for issuing single use virtual payment cards via a mobile and wearable device, the method comprising:

receiving over a data network, by a processor, from the mobile and wearable device of a user, a card issuance request for issuing a virtual payment card, wherein the card issuance request includes a payment amount and a first merchant identification data associated with a merchant;

in response to the card issuance request, prompting, by the processor, the user to enter a user authentication information;

receiving over the data network, by the processor, from the user, the user authentication information;

based on the user authentication information, accessing, by the processor, a user account maintained by a card issuer, wherein the user account includes at least a payment data associated with the user;

based on the payment data associated with the user and the first merchant identification data, generating, by a card issuance unit connected over the data network to and remotely located from the processor, merchant, and the mobile and wearable device, the virtual payment card, the virtual payment card having a deposit amount, the deposit amount being at least equal to the payment amount requested by the user in the card issuance request;

providing, by the card issuance unit, the virtual payment card to the mobile and wearable device;

receiving over the data network, by the processor, from the merchant, a transaction request to perform a payment transaction associated with the user, the transaction request including at least a second merchant identification data and data associated with the virtual payment card;

matching, by the processor, the first merchant identification data and the second merchant identification data;

upon determining a match of the first merchant identification data and the second merchant identification data, authorizing, by the processor, the payment transaction by transferring the payment amount from the to a merchant account associated with the merchant, the merchant account being retrieved from the second merchant identification data, wherein the processor is operable to transfer the payment amount in response to a merchant device reading an optical code encoding the virtual payment card data displayed on the mobile and wearable device of the user and to transmit virtual payment card data from the mobile and wearable device to a merchant device using a near field communication;

based on the transferring, determining, by the processor, that the payment transaction associated with the user is completed; and

based on the determining that the payment transaction is completed, deactivating, by the processor, the virtual payment card;

wherein the processor, the mobile and wearable device, the card issuance unit, and the storage unit are remotely located with each other and in operable connection over the data network;

wherein the virtual payment card is associated with a joint operation with banks and top retailers;

wherein the mobile and wearable device is associated with a cloud-based application running on the mobile and wearable device, wherein the cloud-based application resides in a cloud network is provided on the mobile and wearable device via one or more of the following;

a web browser, a projector, and a hologram, an augmented reality (AR) device;

a virtual reality (VR) device;

wherein the cloud-based application is provided for purchasing in one or more applications stores, the one or more applications stores being associated with an operating system running on the mobile and wearable device, the operating system including one of the following;

Microsoft Windows, Linux, Android, Blackberry, iOS, and Windows Phone;

wherein the cloud-based application is provided free of charge or at a predetermined price;

wherein the cloud-based application includes at least a bank account emulation (BAE) client, the BAE client is configured to provide emulation of a bank account to combine with cloud computing and provide an emulated virtual payment card, wherein the bank account is emulated based on metadata associated with the user, a phone number associated with the user, and data associated with a point-of-sale (POS) terminal of the merchant, wherein the BAE client is configured to provide a virtual representation of an emulated bank account;

wherein the operating system associated with the mobile and wearable device is configured to run the BAE client, provide two communication paths for NFC commands from the POS terminal based on an application identifier (AID) associated with the BAE client;

wherein the operating system is configured to use the AID to route the NFC commands to the cloud-based application managing the emulation of the bank account;

wherein when the user presents the emulated virtual payment card for transaction, an NFC command is routed to the BAE client for verification of the NFC commands by the cloud-based application managing the emulation of the bank account;

wherein the cloud-based application is configured to connect to a backend associated with the card issuer to complete the transaction;

wherein the cloud-based application is associated with a trusted tokenization node, the trusted tokenization node being a shared resource used to generate and de-tokenize tokens representing data associated with the virtual payment card at the backend associated with the issuer; and

wherein the BAE client provides multi-level security by providing limited use keys, tokenization, device fingerprinting, and dynamic risk analysis, wherein the limited use keys are derived from a master domain key shared by the issuer, wherein a use of the limited use keys is associated with time to live of the limited use keys and a number of transactions to be performed using the limited use keys, wherein the device fingerprints are profiles associated with the mobile and wearable device and are used to determine that transactions are initiated only by an authorized mobile and wearable device at recognized locations of the POS terminal.

10. The method of claim 9, further comprising displaying, by the processor, the virtual payment card on the mobile and wearable device to be read by a card reader associated with the merchant.

11. The method of claim 10, wherein the virtual payment card is displayed in a form of a code, the code being selected from a group comprising:

a linear dimensional code, a two-dimensional code, a snap tag code, and a Quick Response (QR) code.

12. The method of claim 9, further comprising setting, by the card issuance unit, a validity period for the virtual payment card, the validity period being pre-selected by the user and stored in the user account, wherein the deactivating of the virtual payment card is performed upon expiration of the validity period.

13. The method of claim 9, further comprising:

upon determining that the payment transaction associated with the user is completed, checking, by the processor, whether a portion of the deposit amount is present on the virtual payment card;

transferring, by the processor, the portion of the payment amount from the virtual payment card to a payment card associated with the user, the payment card being determined based on the payment data, the payment card including one of a credit card and a debit card.

14. The method of claim 9, wherein the payment data includes data associated with one or more of the following:

a credit card, a debit card, a retail card, a charge card, a bank saving account, a bank checking account, an insurance account, a stored-value card, and a digital mobile currency.

15. The method of claim 9, wherein the card issuer is selected from one or more of the following:

a bank, a credit card company, an insurance company, a credit union, a store, and a third-party organization.

16. The method of claim 9, wherein the user authentication information includes one or more of the following:

a name of the user, an address of the user, a guarantor name, a social security number of the user, a phone number of the user, an identification number of the user, a bank account of the user, an insurance account number of the user, and a photograph of the user.

17. A system for issuing single use virtual payment cards via a mobile and wearable device, the system comprising:

a processor configured to;

receive over a data network, from the mobile and wearable device of a user, a card issuance request for issuing a virtual payment card, wherein the card issuance request includes a payment amount and a first merchant identification data associated with a merchant;

in response to the card issuance request, prompt the user to enter a user authentication information;

receive over the data network, from the user, the user authentication information;

based on the user authentication information, accessing a user account maintained by a card issuer, wherein the user account includes at least a payment data associated with the user;

receive over the data network, from the merchant, a transaction request to perform a payment transaction associated with the user, the transaction request including at least a second merchant identification data and data associated with the virtual payment card;

match the first merchant identification data and the second merchant identification data;

upon determining a match of the first merchant identification data and the second merchant identification data, authorize the payment transaction by transferring the payment amount from the virtual payment card to a merchant account associated with the merchant, the merchant account being retrieved from the second merchant identification data, wherein the processor is operable to transfer the payment amount in response to a merchant device reading an optical code encoding the virtual payment card data displayed on the mobile and wearable device of the user and to transmit virtual payment card data from the mobile and wearable device to a merchant device using a near field communication;

based on the transferring, determine that the payment transaction associated with the user is completed;

upon determining that the payment transaction associated with the user is completed, check whether a portion of a deposit amount is present on the virtual payment card;

transfer the portion of the payment amount from the virtual payment card to a payment card associated with the user, the payment card being determined based on the payment data, the payment card including one of a credit card and a debit card; and

based on the determining that the payment transaction is completed, deactivate the virtual payment card;

a card issuance unit connected over the data network to and remotely located from the processor, merchant, and the mobile and wearable device operable to;

based on the payment data associated with the user and the first merchant identification data, generate the virtual payment card, the virtual payment card having the deposit amount, the deposit amount being at least equal to the payment amount requested by the user in the card issuance request; and

provide the virtual payment card to the mobile and wearable device; and

a storage unit operable to store at least the user authentication information, the virtual payment card, the first merchant identification data, and the second merchant identification data, wherein the processor, the mobile and wearable device, the card issuance unit, and the storage unit are remotely located with each other and in operable connection over the data network;

wherein the virtual payment card is associated with a joint operation with banks and top retailers;

wherein the mobile and wearable device is associated with a cloud-based application running on the mobile and wearable device, wherein the cloud-based application resides in a cloud network is provided on the mobile and wearable device via one or more of the following;

a web browser, a projector, and a hologram, an augmented reality (AR) device;

a virtual reality (VR) device;

wherein the cloud-based application is provided for purchasing in one or more applications stores, the one or more applications stores being associated with an operating system running on the mobile and wearable device, the operating system including one of the following;

Microsoft Windows, Linux, Android, Blackberry, iOS, and Windows Phone;

wherein the cloud-based application is provided free of charge or at a predetermined price;

wherein the cloud-based application includes at least a bank account emulation (BAE) client, the BAE client is configured to provide emulation of a bank account to combine with cloud computing and provide an emulated virtual payment card, wherein the bank account is emulated based on metadata associated with the user, a phone number associated with the user, and data associated with a point-of-sale (POS) terminal of the merchant, wherein the BAE client is configured to provide a virtual representation of an emulated bank account;

wherein the operating system associated with the mobile and wearable device is configured to run the BAE client, provide two communication paths for NFC commands from the POS terminal based on an application identifier (AID) associated with the BAE client;

wherein the operating system is configured to use the AID to route the NFC commands to the cloud-based application managing the emulation of the bank account;

wherein when the user presents the emulated virtual payment card for transaction, an NFC command is routed to the BAE client for verification of the NFC commands by the cloud-based application managing the emulation of the bank account;

wherein the cloud-based application is configured to connect to a backend associated with the card issuer to complete the transaction;

wherein the cloud-based application is associated with a trusted tokenization node, the trusted tokenization node being a shared resource used to generate and de-tokenize tokens representing data associated with the virtual payment card at the backend associated with the issuer; and

wherein the BAE client provides multi-level security by providing limited use keys, tokenization, device fingerprinting, and dynamic risk analysis, wherein the limited use keys are derived from a master domain key shared by the issuer, wherein a use of the limited use keys is associated with time to live of the limited use keys and a number of transactions to be performed using the limited use keys, wherein the device fingerprints are profiles associated with the mobile and wearable device and are used to determine that transactions are initiated only by an authorized mobile and wearable device at recognized locations of the POS terminal.