US 2015/0032636 A1 · Dissociative Payment Transaction And Receipt System And Methods Of Using Same

Abstract

A system for authorizing and facilitating payment transactions utilizing a payment device, a merchant terminal, and a payment server. The payment server generates unique, single-use payment credentials and provides the payment credentials to the payment device, which transfers the payment credentials to the merchant terminal. The merchant terminal submits the payment credentials and transaction request to the payment server, which facilitates the transfer of funds between the consumer and the merchant upon validation of the payment credentials. In an alternate use of the system, the payment device requests to open a running bill of charges with the merchant terminal. The payment device or the merchant terminal requests the payment server to close out the bill and finalize the charges. The payment server facilitates the transfer of funds between the consumer and the merchant. The payment server provides automated and manual accounting functions to both the consumer and merchant.

Claims23

Dependent claims

A method for facilitating a secure payment transaction using a payment device, a merchant terminal and a payment server, said method comprising the following steps:

submitting a request for payment credentials from the payment device to the payment server including a shared secret;
verifying the shared secret received from the payment device;
generating the payment credentials requested by the payment device;
providing the payment credentials to the payment device;
transferring the payment credentials from the payment device to the merchant terminal;
submitting a request from the merchant terminal to the payment server including a shared secret, the payment credentials, and transaction information;
verifying the shared secret received from the merchant terminal;
validating the payment credentials received from the merchant terminal;
invalidating the payment credentials to prevent reuse of the payment credentials;
and
facilitating the transfer of funds between an account associated with the payment device to an account associated with the merchant terminal.

8 more elements

Dependencies are inferred from the claim text.

Dissociative Payment Transaction And Receipt System And Methods Of Using Same

Life of this patent

Dissociative Payment Transaction And Receipt System And Methods Of Using Same

Life of this patent

Abstract

Claims23