METHOD AND SYSTEM FOR PROVIDING VIRTUAL CREDIT CARD SERVICES

• US 20110153437A1
• Filed: 12/21/2009
• Published: 06/23/2011
• Est. Priority Date: 12/21/2009
• Status: Active Grant

• Current Assignee: Verizon Patent and Licensing Incorporated (Verizon Communications Inc.)
• Original Assignee: Verizon Patent and Licensing Incorporated (Verizon Communications Inc.)
• Inventors: Hubner, Paul, Clavenna, Robert A., Archer, Steven T., Pate, Kristopher A.
• Granted Patent: US 9,324,066 B2
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3227 using secure elements embedded in M-devices
• CPC Class Codes: G06Q 20/325 using wireless networks
• 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 20/385 using an alias or single-use codes

Abstract

An approach is provided for virtual credit card services. A request for a limited use transactional account number representing a virtual credit card is generated at a mobile device. The limited use transactional account number is received in response to the request. A point of sale interface is configured with the limited use transactional account number for presentation at a point of sale terminal.

Claims

1. A method comprising:

generating, at a mobile device, a request for a limited use transactional account number representing a virtual credit card;

receiving, in response to the request, the limited use transactional account number; and

configuring, for presentation at a point of sale terminal, a point of sale interface with the limited use transactional account number.

2. A method according to claim 1, further comprising:

determining spatial positioning information corresponding to a location of the mobile device,

wherein the request is generated to at least include the spatial positioning information.

3. A method according to claim 1, further comprising:

presenting a user interface for receiving customized input; and

receiving customized input via the user interface,

wherein the request is generated to at least include the customized input.

4. A method according to claim 3, wherein the customized input includes at least one of a preferred credit institution, expiration date, monetary limit, transaction type, vendor name, and vendor location.

5. A method according to claim 1, further comprising:

receiving, in response to the request, one or more virtual credit options; and

receiving selection of a particular credit option from the one or more credit options,

wherein the limited use transactional account number is received based on the selection of the particular credit option.

6. A method according to claim 1, further comprising:

removing the limited use transaction account number from the point of sale interface after expiration of at least one of one or more predefined expiration values.

7. A method according to claim 6, wherein the one or more predefined expiration values include at least one of an expiration date and a number of transactions with the limited use transactional account number.

8. A method according to claim 1, further comprising:

configuring a display of the mobile device with the limited use transactional account number and at least one or more other virtual credit card values,

wherein the one or more other virtual credit card values include at least one of an identifier of a credit institution, an identifier of a subscriber, a credit verification value code, and an expiration value.

9. A method according to claim 1, wherein the point of sale interface includes a configurable conductive strip or a configurable bearer tag transponder.

10. A method according to claim 1, wherein the limited use transactional account number is a one-time use transactional account number.

11. An apparatus comprising:

at least one processor; and

at least one memory including computer program code, the at least one memory and the computer program code being configured, with the at least one processor, to cause the apparatus at least to;

generate a request for a limited use transactional account number representing a virtual credit card,

receive, in response to the request, the limited use transactional account number, and

configure, for presentation at a point of sale terminal, a point of sale interface with the limited use transactional account number.

12. An apparatus according to claim 11, wherein the apparatus is at least further caused to:

determine spatial positioning information corresponding to a location of the apparatus, wherein the request is generated to at least include the spatial positioning information.

13. An apparatus according to claim 11, wherein the apparatus is at least further caused to:

present a user interface for receiving customized input; and

receive customized input via the user interface,

wherein the request is generated to at least include the customized input.

14. An apparatus according to claim 13, wherein the customized input includes at least one of a preferred credit institution, expiration date, monetary limit, transaction type, vendor name, and vendor location.

15. An apparatus according to claim 11, wherein the apparatus is at least further caused to:

receive, in response to the request, one or more credit options; and

receive selection of a particular credit option from the one or more credit options,

wherein the limited use transactional account number is received based on the selection of the particular credit option.

16. An apparatus according to claim 11, wherein the apparatus is at least further caused to:

remove the limited use transactional account number from the point of sale interface after expiration of at least one of one or more predefined expiration values.

17. An apparatus according to claim 16, wherein the one or more predefined expiration values include at least one of an expiration date and a number of transactions with the limited use transactional account number.

18. An apparatus according to claim 11, wherein the apparatus is at least further caused to:

configure a display with the limited use transactional account number and at least one or more other virtual credit card values,

wherein the one or more other virtual credit card values include at least one of an identifier of a credit institution, an identifier of a subscriber, a credit verification value code, and an expiration value.

19. An apparatus according to claim 11, wherein the point of sale interface includes a configurable conductive strip or a configurable bearer tag transponder.

20. An apparatus according to claim 11, wherein the limited used transactional account number is a one-time use transactional account number.