Credit card system and method

• US 20030028481A1
• Filed: 06/04/2002
• Published: 02/06/2003
• Est. Priority Date: 03/25/1998
• Status: Active Grant

• Current Assignee: Orbis Patents Limited (Orbis Technology)
• Original Assignee: Orbis Patents Limited (Orbis Technology)
• Inventors: Flitcroft, Daniel I., OʼDonnell, Graham
• Granted Patent: US 7,567,934 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/354 Card activation or deactivation
• CPC Class Codes: G06Q 20/3552 Downloading or loading of personalisation data
• CPC Class Codes: G06Q 20/357 Cards having a plurality of specified features
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 19/00 Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines data processing equipment for bank accounting G06Q40/02
• CPC Class Codes: G07F 19/2055 : Anti-skimming aspects at ATMs
• CPC Class Codes: G07F 7/025 : by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered
• CPC Class Codes: G07F 7/08 : by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 : Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: G07F 7/12 : Card verification
• CPC Class Codes: G07F 7/122 : Online card verification

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.

Claims

1. In a financial transaction system capable of using at least one limited use credit card number which is limited in use by a party other than a limited use credit card number issuer and which is associated the master account number of a customer, a method of controlling the validity of the limited use credit card number comprising the steps of:

sending to a user from a limited use credit card number issuer a limited use credit card number;

communicating with a limited use card number card issuer to establish limitations on the use of the limited use credit card number by a third party before it can be used in a transaction by said user; and

authorizing transactions which meet said established limitations and denying other transactions by comparing at a central location the attempted use to the established limitations on use.

2. The method of claim 1, wherein said use limitations include a combination of a present transaction amount limit and one of:

a merchant and merchant type.

3. The method of claim 2, wherein transactions are reported to a supervising authority other than a user at one of:

a time of transaction and at a time of said supervising authority'"'"'s initiation.

4. The method of claim 1, wherein said limited use credit card number is activated upon receipt by said third party provider of a limited use credit card number of commercially valuable information from the user of said limited use credit card number.

5. The method of claim 1, wherein said limited use credit card number is activated and limited to a predefined monetary amount as settlement of a claim by said user of said limited use credit card number against said third party that provided said number to said user.

6. The method of claim 1, wherein said limited use credit card number is activated as a reward for activities of the user of said limited use credit card number.

7. The method of claim 1, wherein the limited use credit card number is activated when a user is traveling and is limited in use to travel related expenses.

8. The method of claim 1, wherein said limitations on use are established by a supervising authority receiving a specific request for a specific use by a supervised user, and the limitations reflect the content of the specific request.

9. The method of claim 1, wherein said limited use credit card number is distributed using a Web Access Protocol enabled radio communication device.

10. The method of claim 1, wherein said limited use credit card number is distributed via a non-PC web access enabled device.

11. The method of claim 10, wherein said limited use credit card number is placed on a non-embossed card.