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US 10,482,457 B2Granted
System and method for token-based payments
AssigneeCapital One Services, LLC
InventorsThomas S. Poole, Janusz Michael Niczyporuk, Paul Young Moreton
Life of this patent
Estimating the term…
Abstract
A system and method for enhanced token-based payments. The system and method including software and hardware to receive, via a network, a request for authorization; create, in response to the request, a dynamic payment packet (DPP) for payment; transmit, via a network, the DPP; receive, via a network, an authorization request, the DPP, and a transaction ID; receive at least one additional data element relating to the customer involved in the transaction and the transaction itself; and transmit, via a network, the transaction ID, an authorization response, and token.
Claims16
A method for software-based contactless payment using an acquisition system, comprising:
- providing, via a network and by an issuer system, a dynamic payment packet that includes a first token and an additional data element comprising customer creditworthiness information to a mobile device of a customer for use with a transaction, the first token comprising a single-use token;
- receiving, via the acquisition system, the dynamic payment packet in association with the transaction;
- transmitting the dynamic payment packet to a third party system to obtain offer data from the third party system based on the customer creditworthiness information;
- transmitting, via the acquisition system, data associated with the dynamic payment packet to the issuer system for authorization of the transaction, the authorization being based on whether the first token complies with a plurality of parameters and whether the first token is associated with the mobile device, the plurality of parameters comprising transaction limits, use limits, and time limits;
- determining, by the issuer system, an authorization response based on the offer data from the third party system and data received from the issuer system authorizing the transaction;
- transmitting, to the acquisition system by the issuer system, the first authorization response, a transaction identifier, and account data associated with the transaction, wherein the acquisition system converts the account data to create a second token and transmits the second authorization response, the transaction identifier, and the second token to a merchant system for customer approval and merchant transaction posting;
- and
- providing, to the mobile device by the issuer system and responsive to the transmission of the authorization response, the transaction identifier, and the second token, real-time financing options related to the payment of the transaction and cross-selling of lending products based on the offer data.
5 more elements
A system for software-based contactless payment, the system comprising:
- a computer comprising a processor and computer readable instruction stored on a non-transitory medium, which when executed by the processor, causes the processor to perform the acts of:
- generating a dynamic payment packet and providing the dynamic payment packet via a network to a mobile device of a customer for use with a transaction, wherein the dynamic payment packet includes a first token and an additional data element comprising customer creditworthiness information, the first token comprising a single-use token;
- receiving, via an acquisition system, the dynamic payment packet in association with the transaction;
- transmitting the dynamic payment packet to a third party system to obtain offer data from the third party system based on the customer creditworthiness information;
- transmitting, via the acquisition system, data associated with the dynamic payment packet to an issuer system for authorization of the transaction, the authorization being based on whether the first token complies with a plurality of parameters and whether the token is associated with the mobile device, the plurality of parameters comprising transaction limits, use limits, and time limits;
- determining, by the issuer system, an authorization response based on the offer data from the third party system and data received from the issuer system authorizing the transaction;
- transmitting, to the acquisition system by the issuer system, the authorization response, a transaction identifier, and account data associated with the transaction, wherein the acquisition system converts the account data to create a second token and transmits the authorization response, the transaction identifier, and the second token to a merchant system for customer approval and merchant transaction posting and
- providing, to the mobile device by the issuer system and responsive to the transmission of the authorization response, the transaction identifier, and the second token, real-time financing options related to the payment of the transaction and cross-selling of lending products based on the offer data.
5 more elements
Dependencies are inferred from the claim text.