System and method for payment using radio frequency identification in contact and contactless transactions
First Claim
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1. A transponder-reader payment system comprising:
- a. a transponder system responsive to a Radio Frequency (RF) interrogation signal, said transponder system including a transponder database, said transponder database storing at least a transponder system identifier;
b. a Radio Frequency Identification (RFID) reader in RF communication with said transponder system, said RFID reader providing an interrogation signal to said transponder system and receiving said transponder system identifier;
c. a merchant system for receiving said transponder system identifier, said merchant system including a merchant system identifier and a merchant point of interaction device in communication with said RFID reader, said merchant system configured to match said transaction system identifier and said merchant system identifier to a user transaction request forming a merchant transaction request;
d. an issuer system comprising;
an issuer system server in communication with said merchant point of interaction device for receiving said merchant transaction request; and
ii. an issuer system database including a funding account data file containing a funding account value for satisfying said merchant transaction request and a funding account protocol, said funding account data file associated with said transponder system identifier;
e. a primary funding source containing a primary funding source value, said primary funding source in communication with said issuer system server, said primary funding source configured for one of providing value to and receiving value from said funding account data file, said funding source associated with said transponder system identifier; and
f. a secondary funding source containing a secondary funding source value, said secondary funding source in communications with said issuer system server, said secondary funding source configured for one of providing value to and receiving value from said funding account data file, said secondary funding source associated with said transponder system identifier.
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Abstract
A transponder-reader payment system includes a RFID reader for interrogating a transponder, and a fob including a transponder which is associated with fob data file funded by one or more funding sources. In exemplary operation, the fob identifying information may be presented to the RFID reader for completion of a transaction request. The transaction request may be provided to a fob issuer system which may process the transaction request in accordance with a funding protocol wherein the transaction request is satisfied according to a fob issuer predefined funding criteria relative to the multiple funding sources.
178 Citations
13 Claims
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1. A transponder-reader payment system comprising:
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a. a transponder system responsive to a Radio Frequency (RF) interrogation signal, said transponder system including a transponder database, said transponder database storing at least a transponder system identifier;
b. a Radio Frequency Identification (RFID) reader in RF communication with said transponder system, said RFID reader providing an interrogation signal to said transponder system and receiving said transponder system identifier;
c. a merchant system for receiving said transponder system identifier, said merchant system including a merchant system identifier and a merchant point of interaction device in communication with said RFID reader, said merchant system configured to match said transaction system identifier and said merchant system identifier to a user transaction request forming a merchant transaction request;
d. an issuer system comprising;
an issuer system server in communication with said merchant point of interaction device for receiving said merchant transaction request; and
ii. an issuer system database including a funding account data file containing a funding account value for satisfying said merchant transaction request and a funding account protocol, said funding account data file associated with said transponder system identifier;
e. a primary funding source containing a primary funding source value, said primary funding source in communication with said issuer system server, said primary funding source configured for one of providing value to and receiving value from said funding account data file, said funding source associated with said transponder system identifier; and
f. a secondary funding source containing a secondary funding source value, said secondary funding source in communications with said issuer system server, said secondary funding source configured for one of providing value to and receiving value from said funding account data file, said secondary funding source associated with said transponder system identifier. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method of transponder-reader payment comprising:
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a. providing a transponder system identifier to a merchant system via radio frequency signal;
b. matching the transponder system identifier to a merchant system identifier and a user transaction request; and
c. retrieving value from at least one of a primary funding source and a secondary funding source and providing the value to a funding account in accordance with a user defined funding protocol. - View Dependent Claims (11, 12, 13)
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Specification