SYSTEM AND METHOD FOR PROCESSING FINANCIAL TRANSACTIONS USING A MOBILE DEVICE FOR PAYMENT

• US 20140279472A1
• Filed: 03/15/2013
• Published: 09/18/2014
• Est. Priority Date: 03/15/2013
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: CAGLAYAN, Yigit, Uyan, Kemal
• Granted Patent: US 10,535,060 B2
• Time in Patent Office: Days
• US Class Current: 705/41
• 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 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3226 Use of secure elements separate from M-devices
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/4014 Identity check for transactions

Abstract

A method for processing a financial transaction includes: storing, in a database, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account; receiving, by a receiving device, an authorization request for a financial transaction, wherein the authorization request includes at least a mobile device identifier and transaction data; transmitting, to a mobile computing device associated with the mobile device identifier, at least the transaction data; receiving, from the mobile computing device, an indication of a payment account for funding of the financial transaction; identifying, in the database, payment details associated with the indicated payment account in a wallet data entry including the mobile device identifier included in the authorization request; and transmitting, to an issuer associated with the indicated payment account, at least the payment details and the transaction data.

Claims

1. A method for processing a financial transaction, comprising:

storing, in a database, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

receiving, by a receiving device, an authorization request for a financial transaction, wherein the authorization request includes at least a mobile device identifier and transaction data;

transmitting, to a mobile computing device associated with the mobile device identifier, at least the transaction data;

receiving, from the mobile computing device, an indication of a payment account for funding of the financial transaction;

identifying, in the database, payment details associated with the indicated payment account in a wallet data entry including the mobile device identifier included in the authorization request; and

transmitting, to an issuer associated with the indicated payment account, at least the payment details and the transaction data.

2. The method of claim 1, further comprising:

receiving, by the receiving device, an authorization response indicating approval of the financial transaction; and

transmitting, by a transmitting device, the authorization response.

3. The method of claim 1, wherein the transaction data includes at least one of:

a transaction time and/or date, transaction amount, merchant identifier, product details, shipping details, loyalty number, purchase order number, invoice number, and transaction identifier.

4. The method of claim 1, wherein the mobile device identifier is a phone number associated with the associated mobile device.

5. The method of claim 1, wherein the mobile device identifier is a media access control (MAC) address.

6. The method of claim 1, wherein the transaction data is transmitted to the mobile device associated with the mobile device identifier included in a short message service (SMS) message.

7. The method of claim 1, wherein the payment account is a payment card account.

8. The method of claim 1, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

9. The method of claim 1, wherein

the payment details associated with the at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and

the payment details and transaction data are transmitted to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.

10. A method for identifying payment details, comprising:

storing, in a database, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

receiving, by a receiving device, a payment information request, wherein the payment information request includes a mobile device identifier;

transmitting, to a mobile computing device associated with the mobile device identifier, a selection request;

receiving, from the mobile computing device, an indication of a payment account in response to the transmitted selection request;

identifying, in the database, a specific wallet data entry including the mobile device identifier included in the payment information request;

identifying, in the specific wallet data entry, payment details associated with the indicated payment account; and

transmitting, by a transmitting device, the identified payment details.

11. The method of claim 10, wherein the payment account is a payment card account.

12. The method of claim 10, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

13. The method of claim 10, wherein the mobile device identifier is a phone number associated with the associated mobile device.

14. The method of claim 10, wherein the mobile device identifier is a media access control (MAC) address.

15. The method of claim 10, wherein

the payment details associated with at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and

the identified payment details are transmitted to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.

16. A system for processing a financial transaction, comprising:

a processing device;

a database configured to store a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

a receiving device configured to receive an authorization request for a financial transaction, wherein the authorization request includes at least a mobile device identifier and transaction data; and

a transmitting device configured to transmit, to a mobile computing device associated with the mobile device identifier, at least the transaction data, wherein

the receiving device is further configured to receive, from the mobile computing device, an indication of a payment account for funding of the financial transaction,

the processing device is configured to identify, in the database, payment details associated with the indicated payment account in a wallet data entry including the mobile device identifier included in the authorization request, and

the transmitting device is further configured to transmit, to an issuer associated with the indicated payment account, at least the payment details and the transaction data.

17. The system of claim 16, wherein:

the receiving device is further configured to receive an authorization response indicating approval of the financial transaction; and

the transmitting device is further configured to transmit the authorization response.

18. The system of claim 16, wherein the transaction data includes at least one of:

a transaction time and/or date, transaction amount, merchant identifier, product details, shipping details, loyalty number, purchase order number, invoice number, and transaction identifier.

19. The system of claim 16, wherein the mobile device identifier is a phone number associated with the associated mobile device.

20. The system of claim 16, wherein the mobile device identifier is a media access control (MAC) address.

21. The system of claim 16, wherein the transaction data is transmitted to the mobile device associated with the mobile device identifier included in a short message service (SMS) message.

22. The system of claim 16, wherein the payment account is a payment card account.

23. The system of claim 16, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

24. The system of claim 16, wherein

the payment details associated with at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and

the transmitting device is configured to transmit the payment details and transaction data to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.

25. A system for identifying payment details, comprising:

a processing device;

a database configured to store a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account;

a receiving device configured to receive a payment information request, wherein the payment information request includes a mobile device identifier; and

a transmitting device configured to transmit, to a mobile computing device associated with the mobile device identifier, a selection request, wherein

the receiving device is further configured to receive, from the mobile computing device, an indication of a payment account in response to the transmitted selection request,

the processing device is configured to identify, in the database, a specific wallet data entry including the mobile device identifier included in the payment information request, and identify, in the specific wallet data entry, payment details associated with the indicated payment account, and

the transmitting device is further configured to transmit the identified payment details.

26. The system of claim 25, wherein the payment account is a payment card account.

27. The system of claim 25, wherein the payment details include at least one of:

payment account number, expiration date, and security code.

28. The system of claim 25, wherein the mobile device identifier is a phone number associated with the associated mobile device.

29. The system of claim 25, wherein the mobile device identifier is a media access control (MAC) address.

30. The system of claim 25, wherein

the payment details associated with at least one payment account each include a mobile personal identification number (PIN),

the received indication further includes a provided PIN, and the transmitting device is configured to transmit the identified payment details to the issuer if the provided PIN corresponds to the mobile PIN included in the payment details associated with the indicated payment account.