Token based demand and remand system

A transaction authorization method, comprising:

• receiving, by a mobile device, personal information about a user of the mobile device;
• determining, by the mobile device, that the user is authenticated upon determining that the received personal information is same as previously stored personal information;
• after the determining that the user is authenticated:
• receiving, by the mobile device from a point of sale (POS) device, a machine-readable visual code for the transaction, wherein the machine-readable visual code includes a transaction identifier for a transaction involving a purchase of one or more items scanned by the POS device and a cost of the one or more items;
• receiving a selection, via the mobile device, of a payment method for the transaction from a list of one or more payment methods;
• generating, after the machine-readable visual code is received and the selection of the payment method is received, a token comprising at least the transaction identifier and the cost of the one or more items, wherein a first part of the token is generated based on a payment identifier associated with the selected payment method, and wherein a second part of the token is generated based on a value that uniquely identifies the user or an account of the user;
• wherein a first demand message comprising the generated token is sent to an identity verification server,
• wherein the identity verification server is configured to post, to a payment blockchain identified by information in the token, a second demand transaction that notifies a provider of the selected payment of the transaction and that includes the information included in the token,
• wherein the provider of the selected payment method posts a remand transaction to the payment blockchain, and
• wherein the POS device is configured to receive, from the payment blockchain, a message indicating that the transaction is authorized.

A non-transitory computer readable program storage medium storing instructions that, when executed by a processor, causing the processor to implement a method comprising:

• receiving, by a mobile device, personal information about a user of the mobile device;
• determining, by the mobile device, that the user is authenticated upon determining that the received personal information is same as previously stored personal information;
• after determining that the user is authenticated:
• receiving, by the mobile device from a point of sale (POS) device, a machine-readable visual code for a transaction, wherein the machine-readable visual code includes a transaction identifier for a transaction involving a purchase of one or more items scanned by the POS device and a cost of the one or more items;
• receiving a selection, via the mobile device, of a payment method for the transaction from a list of one or more payment methods;
• generating, after the machine-readable visual code is received and the selection of the payment method is received, a token comprising at least the transaction identifier and the cost of the one or more items, wherein a first part of the token is generated based on a payment identifier associated with the selected payment method, and wherein a second part of the token is generated based on a value that uniquely identifies the user or an account of the user;
• post a demand message to a payment blockchain identified by information in the token,
• wherein the demand message notifies a provider of the selected payment method,
• wherein the provider of the selected payment method posts a remand transaction to the payment blockchain;
• and
• wherein the POS device is configured to receive, from the payment blockchain, a message indicating that the transaction is authorized.