US 2024/0257100 A1 · REAL-TIME TRANSACTIONS USING A VIRTUAL CARD TOKEN

Abstract

Disclosed herein are system, method, and computer program product embodiments for providing a virtual card token to facilitate Real-Time Payment (RTP) network transactions. An account management system may facilitate RTP transactions with consumer bank accounts using the virtual card token. After providing the virtual card token to a user device, the user device may present the virtual card token to a merchant system to conduct a transaction. The virtual card token may operate with existing merchant systems and/or point-of-sale (POS) terminals. The merchant system may provide the virtual card token to the account management system for transaction approval. The account management system may select and retrieve funding from a particular bank account based on user-defined parameters. Upon retrieving funding from the particular bank account via the RTP network, the account management system may approve the transaction and/or provide payment to the merchant system.

Claims20

Dependent claims

A computer implemented method, comprising:

receiving a virtual card token and a transaction amount from a merchant point-of-sale system;
identifying, from an account database, a user account corresponding to the virtual card token;
identifying, based on the user account, one or more parameters specifying usage of one or more bank accounts corresponding to the user account;
selecting a bank account from the one or more bank accounts based on the one or more parameters;
withdrawing the transaction amount from the bank account selected from the one or more bank accounts via a Real-Time Payment (RTP) network;
and
in response to withdrawing the transaction amount, transmitting a notification to the merchant point-of-sale system indicating approval of a transaction corresponding to the virtual card token.

4 more elements

A system, comprising:

a memory;
and
at least one processor coupled to the memory and configured to:
receive a virtual card token and a transaction amount from a merchant point-of-sale system;
identify, from an account database stored in the memory, a user account corresponding to the virtual card token;
identify, based on the user account, one or more parameters specifying usage of one or more bank accounts corresponding to the user account;
select a bank account from the one or more bank accounts based on the one or more parameters;
withdraw the transaction amount from the bank account selected from the one or more bank accounts via a Real-Time Payment (RTP) network;
and
in response to withdrawing the transaction amount, transmit a notification to the merchant point-of-sale system indicating approval of a transaction corresponding to the virtual card token.

7 more elements

A non-transitory computer-readable device having instructions stored thereon that, when executed by at least one computing device, cause the at least one computing device to perform operations comprising:

receiving a virtual card token and a transaction amount from a merchant point-of-sale system;
identifying, from an account database, a user account corresponding to the virtual card token;
identifying, based on the user account, one or more parameters specifying usage of one or more bank accounts corresponding to the user account;
selecting a bank account from the one or more bank accounts based on the one or more parameters;
withdrawing the transaction amount from the bank account selected from the one or more bank accounts via a Real-Time Payment (RTP) network;
and
in response to withdrawing the transaction amount, transmitting a notification to the merchant point-of-sale system indicating approval of a transaction corresponding to the virtual card token.

4 more elements

Dependencies are inferred from the claim text.

Real-time transactions using a virtual card token

Life of this patent

Real-time transactions using a virtual card token

Life of this patent

Abstract

Claims20