Credit card system and method
First Claim
1. A method of processing financial transactions using limited use transaction card numbers, the method comprising the steps of:
- communicating, by a central processing system, via a communication network, with an electronic device of a customer, to receive user-defined limitations on use for association with a limited use transaction card number, wherein said central processing system (i) is configured to communicate with any number of customer electronic devices and (ii) is positioned in a communication path between any number of merchants and issuers to communicate therewith;
receiving, by the central processing system, from a point-of-sale (POS) device of a merchant, an authorization request for a financial transaction, said authorization request including said limited use transaction card number, which is associated with a master account number of the customer, wherein the user-defined limitations on use are different from limitations on the master account number;
remapping, by the central processing system, the limited use transaction card number with the master account number;
determining, by the central processing system, whether at least one use-triggered condition, which occurs subsequent to assignment of the limited use transaction card number has been satisfied; and
when the determination indicates that the at least one use-triggered condition has been satisfied, transmitting, by the central processing system, a message to an issuer of the master account number.
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Accused Products
Abstract
A credit card system is provided which has the added feature of providing additional limited use credit card numbers and/or cards. These numbers and/or cards can be used for a single or limited use transaction, thereby reducing the potential for fraudulent reuse of these numbers and/or cards. The credit card system finds application to “card remote” transactions such as by phone or Internet. Additionally, when a single use or limited use credit card is used for “card present” transactions, so called “skimming” fraud is eliminated. Various other features enhance the credit card system which will allow secure trade without the use of elaborate encryption techniques. Methods for limiting, distributing and using a limited use card number, controlling the validity of a limited use credit card number, conducting a limited use credit card number transaction and providing remote access devices for accessing a limited use credit card number are also provided.
153 Citations
19 Claims
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1. A method of processing financial transactions using limited use transaction card numbers, the method comprising the steps of:
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communicating, by a central processing system, via a communication network, with an electronic device of a customer, to receive user-defined limitations on use for association with a limited use transaction card number, wherein said central processing system (i) is configured to communicate with any number of customer electronic devices and (ii) is positioned in a communication path between any number of merchants and issuers to communicate therewith; receiving, by the central processing system, from a point-of-sale (POS) device of a merchant, an authorization request for a financial transaction, said authorization request including said limited use transaction card number, which is associated with a master account number of the customer, wherein the user-defined limitations on use are different from limitations on the master account number; remapping, by the central processing system, the limited use transaction card number with the master account number; determining, by the central processing system, whether at least one use-triggered condition, which occurs subsequent to assignment of the limited use transaction card number has been satisfied; and when the determination indicates that the at least one use-triggered condition has been satisfied, transmitting, by the central processing system, a message to an issuer of the master account number. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of conducting a settlement transaction comprising the steps of:
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receiving, by a central processing system, a message transmitted from a point-of-sale (POS) device of a merchant according to leading digits of a limited use card number, which is associated with a master account number of a customer; remapping, by the central processing system, the limited use transaction card number with the master account number; transmitting, by the central processing system, said remapped master account number to an issuer processing facility which issued the master account number; receiving, by the central processing system, payment information for settling the transaction, when the issuer processing facility approves authorization of the transaction; remapping, by the central processing system, the master account number back to the limited use transaction card number; and transmitting, by the central processing system, the limited use transaction card number and payment information to the POS device of the merchant. - View Dependent Claims (14, 15, 16, 17, 18)
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19. A method of conducting a transaction involving a limited use credit card comprising the steps of:
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receiving, by a central processing system, from a point-of-sale (POS) device of a merchant, an authorization request for a financial transaction initiated by a customer presenting a limited use transaction card number, which is associated with a master transaction card number, (i) wherein said authorization request includes at least said limited use transaction card number, and (ii) wherein said central processing system is positioned in a communication path between any number of merchants and issuers to communicate therewith; determining, by said central processing system, whether said limited use transaction card number has been met because at least one use-triggered condition has been satisfied; transmitting, by said central processing system, a message to a master credit card issuing facility which issued the limited use transaction card number, the message including original transaction details but with the limited use transaction card number remapped to be the master transaction card number if the limited use transaction card number has been met; receiving, by said central processing system, an authorization message from said master credit card issuing facility, said authorization message indicating whether authorization can be obtained against the master transaction card number; remapping, by the central processing system, information included in said authorization message to the limited use transaction card number for transmission to the merchant; and transmitting, by the central processing system, a result message to the POS device of the merchant indicating whether authorization for the limited use transaction card number has been obtained.
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Specification