System and method for performing secure credit card transactions

  • US 8,036,988 B2
  • Filed: 10/12/2010
  • Issued: 10/11/2011
  • Est. Priority Date: 01/15/1999
  • Status: Expired due to Term
First Claim
Patent Images

1. A method of performing secure credit card purchases, said method comprising:

  • a) contacting a custodial authorizing entity having custodial responsibility of account parameters of a customer'"'"'s account that is used to make credit card purchases;

    b) supplying said custodial authorizing entity with at least account identification data of said customer'"'"'s account;

    c) defining at least one payment category to include at least limiting a number of transactions to one or more merchants, said one or more merchants limitation being included in said payment category prior to any particular merchant being identified as one of said one or more merchants;

    d) designating said payment category;

    e) generating a transaction code by a processing computer of said custodial authorizing entity, said transaction code reflecting at least the limits of said designated payment category to make a purchase within said designated payment category;

    f) communicating said transaction code to a merchant to consummate a purchase with defined purchase parameters;

    g) verifying that said defined purchase parameters are within said designated payment category; and

    h) providing authorization for said purchase so as to confirm at least that said defined purchase parameters are within said designated payment category and to authorize payment required to complete the purchase.

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