System and process for performing purchase transactions using tokens

• US 20030187787A1
• Filed: 03/31/2003
• Published: 10/02/2003
• Est. Priority Date: 03/29/2002
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Freund, Peter C.
• Granted Patent: US 8,751,391 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/30 characterised by the use of specific devices or networks
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G06Q 20/346 Cards serving only as information carrier of service
• 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 30/06 Buying, selling or leasing transactions
• 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 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: H04L 9/3234 involving additional secure or trusted devices, e.g. TPM, smartcard, USB or software token network architectures or network communication protocols for supporting authentication of entities using an additional device in a packet data network H04L63/0853

Abstract

The invention relates to a method and process by which an existing and large network of devices can be used by consumers to authenticate themselves, and permits each consumer to apply any of the various payments mechanisms available to him. The existing broadly distributed network is active and passive radio frequency identification (“RFID”) devices held by consumers. Various types of accounts are linked to devices and allow users to perform various purchase transactions, as well as nonfinancial transactions.

Claims

1. A system for performing at least one payment transactions comprising:

a token having a unique identifier associated with a particular automobile, where the automobile is held out as a trusted entity and the token interacts with a reader to perform the at least one payment transaction; and

at least one account associated with the token, where the at least one account makes payments as directed by interaction of the token and the reader.

2. The system according to claim 1, where the token is a radio frequency identification device.

3. The system according to claim 2, where the radio frequency identification device is an active device.

4. The system according to claim 2, where the radio frequency identification device is a passive device.

5. The system according to claim 1, where the token reader is associated with a toll-road payment system.

6. The system according to claim 1, where an authorization indicia is required for the purchase transaction to be performed.

7. The system according to claim 1, where at least one credit card is registered to the token.

8. The system according to claim 7, where the at least one account is funded by a transfer funds from the at least one registered credit card to the at least one account.

9. The system according to claim 1, where the at least one account is a credit card account registered with the token.

10. The system according to claim 1, where at least one financial account is registered to the token.

11. The system according to claim 10, where the at least one account is funded by a transfer funds from the at least one registered financial account to the at least one account.

12. The system according to claim 1, where the at least one account is a financial account registered with the token.

13. A system for registering a token, comprising:

means for receiving a unique identifier from the token, where the token and the unique identifier are associated with a user or a key of a particular automobile, the automobile is held out as an entity trusted by a merchant and the token interacts with a reader to perform the at least one payment transaction;

means for creating at least one account associated with the token, where the account includes account information and makes payments as directed by interaction of the token and the reader;

means for receiving terms for the at least one account; and

means for storing the account information and the terms of the at least one account.

14. The system according to claim 13, where the token is a radio frequency identification device.

15. The system according to claim 14, where the radio frequency identification device is an active device.

16. The system according to claim 14, where the radio frequency identification device is a passive device.

17. The system according to claim 13, where the token reader is associated with a toll-road payment system.

18. The system according to claim 13, where an authorization indicia is required for the purchase transaction to be performed.

19. The system according to claim 13, where at least one credit card is registered to the token.

20. The system according to claim 19, where the at least one account is funded by a transfer funds from the at least one registered credit card to the at least one account.

21. The system according to claim 13, where the at least one account is a credit card account registered with the token.

22. The system according to claim 13, where at least one financial account is registered to the token.

23. The system according to claim 22, where the at least one account is funded by a transfer funds from the at least one registered financial account to the at least one account.

24. The system according to claim 13, where the at least one account is a financial account registered with the token.

25. A process for registering a token, comprising:

receiving a unique identifier from the token, where the token and the unique identifier are associated with a user or a key of a particular automobile, the automobile is held out as an entity trusted by a merchant and the token interacts with a reader to perform the at least one payment transaction;

creating at least one account associated with the token, where the account includes account information and makes payments as directed by interaction of the token and the reader;

receiving terms for the at least one account; and

storing the account information and the terms of the at least one account.

26. The process according to claim 25, where the token is a radio frequency identification device.

27. The process according to claim 26, where the radio frequency identification device is an active device.

28. The process according to claim 26, where the radio frequency identification device is a passive device.

29. The process according to claim 25, where the token reader is associated with a toll-road payment system.

30. The process according to claim 25, where an authorization indicia is required for the purchase transaction to be performed.

31. The process according to claim 25, where at least one credit card is registered to the token.

32. The process according to claim 31, where the at least one account is funded by a transfer funds from the at least one registered credit card to the at least one account.

33. The process according to claim 25, where the at least one account is a credit card account registered with the token.

34. The process according to claim 25, where at least one financial account is registered to the token.

35. The process according to claim 34, where the at least one account is funded by a transfer funds from the at least one registered financial account to the at least one account.

36. The process according to claim 25, where the at least one account is a financial account registered with the token.

37. A computer readable medium having code for causing a processor to register a token, comprising:

code for receiving a unique identifier from the token, where the token and the unique identifier are associated with a particular automobile, the automobile is held out as a trusted entity and the token interacts with a reader to perform the at least one payment transaction;

code for creating at least one account associated with the token, where the account includes account information and makes payments as directed by interaction of the token and the reader;

code for receiving terms for the at least one account; and

code for storing the account information and the terms of the at least one account.

38. The medium according to claim 37, where the token is a radio frequency identification device.

39. The medium according to claim 38, where the radio frequency identification device is an active device.

40. The medium according to claim 38, where the radio frequency identification device is a passive device.

41. The medium according to claim 37, where the token reader is associated with a toll-road payment system.

42. The medium according to claim 37, where an authorization indicia is required for the purchase transaction to be performed.

43. The medium according to claim 37, where at least one credit card is registered to the token.

44. The medium according to claim 43, where the at least one account is funded by a transfer funds from the at least one registered credit card to the at least one account.

45. The medium according to claim 37, where the at least one account is a credit card account registered with the token.

46. The medium according to claim 38, where at least one financial account is registered to the token.

47. The medium according to claim 46, where the at least one account is funded by a transfer funds from the at least one registered financial account to the at least one account.

48. The medium according to claim 37, where the at least one account is a financial account registered with the token.