US 2009/0276347 A1 · METHOD AND APPARATUS FOR USE OF A TEMPORARY FINANCIAL TRANSACTION NUMBER OR CODE

Abstract

A temporary financial transaction number is generated for conducting a financial transaction, such as for paying for goods or services. The temporary number has limits on use, such as time, and amount limits and limits on the type of goods or services that may be purchased or on the type of business at which the purchase may be made. The limits may be encoded into the temporary number or otherwise linked to the number. User identification information, or information on other authorized users, may also be encoded into the number or otherwise linked to the number. When presented for a payment, the number is checked for validity as well as whether the purchase is within the limits. An authorized purchase is applied against a user bank account or credit card account without disclosure of the account information. The temporary number is printed or is displayed on a display of a portable electronic device for presentation to the seller, or is transmitted to the seller for on-line purchases.

Claims17

Dependent claims

A method for conducting a financial transaction, comprising the steps of:

generating a temporary transaction number, said temporary transaction number including a unique number as base number, said step of generating the temporary transaction number being performed by a number generator device;
applying user defined limits to the temporary transaction number;
associating the temporary transaction number with a user account;
receiving the temporary transaction number by a seller as payment for a purchase;
checking validity of the temporary transaction number and checking whether the purchase is within the user defined limits using a computer system;
authorizing the payment to the seller if the temporary transaction number is valid and the purchase is within the user defined limits;
and
applying the purchase against the user account if the payment is authorized.

5 more elements

A financial transaction apparatus for conducting a financial transaction, comprising:

a temporary financial transaction number generator having a request input for receiving a request for a temporary financial transaction number and for receiving user defined limits for a financial transaction authorized by the temporary financial transaction number, said temporary financial transaction number generator an output for outputting the temporary financial transaction number encoded with the limits;
an authorization component connected to receive requests for authorization to use the temporary financial transaction number, said authorization component connected for communication with a user account associated with the temporary financial transaction number, said authorization component being operable to determine if a request for use of the temporary transaction number for a purchase is within the user defined limits;
a reader having an input for receiving the temporary financial transaction number as payment for a purchase, said reader being connected to said authorization component to send an authorization request for the purchase to the authorization component, said reader being connected to receive an authorization for the purchase from the authorization component if the authorization component determines that the purchase is within the user defined limits;
and
said authorization component being operable to apply the purchase amount to the user account upon if the purchase is determined to be within the limits.

2 more elements

Dependencies are inferred from the claim text.

Method and apparatus for use of a temporary financial transaction number or code

Life of this patent

Method and apparatus for use of a temporary financial transaction number or code

Life of this patent

Abstract

Claims17