Methods and systems for initiating a financial transaction by a cardholder device
AssigneeMastercard International Incorporated
InventorJames Sinton
Life of this patent
Estimating the term…
Abstract
A method and system for processing a financial transaction initiated by a cardholder with a merchant. The cardholder initiates the transaction using a cardholder input device and transmits an authorization request message including transaction data received by the cardholder input device from a point of sale (POS) device associated with the merchant. The authorization request message is received by a computer system. The transaction data is validated, and an authorization response message is transmitted after validation. The cardholder input device may forward the authorization response message to the POS device for completing the transaction.
Claims25
A computer-based method for processing a financial transaction initiated by a cardholder with a merchant, the cardholder initiates the transaction using a cardholder input device, the cardholder input device stores account data associated with a payment account, an issuer associates the payment account with the cardholder, said method comprising:
- receiving, at the issuer, an authorization request message relating to the transaction, the authorization request message transmitted by the cardholder input device, wherein the authorization request message includes transaction data received by the cardholder input device from a point of sale (POS) device associated with the merchant;
- validating the transaction data;
- transmitting an approved authorization response message after validation, wherein the cardholder input device forwards the approved authorization response message to the POS device for completing the transaction.
A device for processing a financial transaction, said device comprising:
- a memory device configured to store account data associated with a cardholder;
- a communication interface configured to receive transaction data from a point of sale (POS) device associated with a merchant;
- and
- a processor coupled to said memory device and said communication interface, said processor programmed to transmit an authorization request message relating to the transaction to a computer system via said communication interface, wherein the authorization request message includes the transaction data and the account data.
A computer-based method for processing a financial transaction initiated by a cardholder via a cardholder input device, said method comprising:
- receiving from the cardholder input device an authorization request message relating to the transaction, wherein the authorization request message includes transaction data received by the cardholder input device from a point of sale (POS) device associated with a merchant;
- validating the transaction data;
- and
- when the transaction data is successfully validated, transmitting to the cardholder input device an approved authorization response message, wherein the cardholder input device forwards the approved authorization response message to the POS device.
A system for processing a financial transaction initiated by a cardholder with a merchant, said system comprising:
- a point of sale (POS) device associated with the merchant and configured to transmit transaction data to a cardholder input device associated with the cardholder, wherein the transaction data relates to the financial transaction;
- and
- a computer device configured to:
- receive an authorization request message directly from the cardholder input device, the authorization request message including the transaction data;
- validate the transaction data;
- and
- transmit directly to the cardholder input device an authorization response message indicating whether the transaction data was successfully validated.
One or more computer-readable media having computer-executable instructions embodied thereon, wherein when executed by a computer device, the computer-executable instructions cause the computer device to:
- initiate a financial transaction with a point of sale (POS) device associated with a merchant;
- receive transaction data relating to the financial transaction from the POS device;
- transmit to a remote computer an authorization request message that includes the received transaction data and account data stored at the computer device;
- receive an approved authorization response message from the remote computer;
- and
- forward the approved authorization response message to the POS device.
Dependencies are inferred from the claim text.