Limited use pin system and method

A host system for facilitating transactions, said host system configured to:

• identify a primary account;
• receive a limited use Personal Identification Number (PIN) that is configured to facilitate a transaction, wherein the limited use PIN is generated by at least one of:
• an RFID device and a smartcard;
• associate the limited use PIN with the primary account;
• associate the limited use PIN with a notification response, wherein the notification response is associated with an notification response rule relating to who to notify if the limited use PIN is used;
• associate the limited use PIN with an emergency response, wherein the emergency response is associated with an emergency response rule relating to an emergency entity to notify if the limited use PIN is used;
• issue the limited use PIN to a first party to facilitate a transaction with a second party;
• receive transaction information from the second party for authorization, wherein the transaction information includes the limited use PIN;
• forward the transaction information to a card authorization system for authorization processing;
• process the transaction information with the card authorization system, wherein the card authorization system determines whether the transaction information includes the limited use PIN and interfaces with a limited use PIN system to determine whether authorization is appropriate, wherein authorization determination includes:
• receiving account information associated with the account number;
• determining whether conditions-of-use parameters associated with the limited use PIN are satisfied, the conditions-of-use parameters defining at least a predetermined restriction on use of the limited use PIN;
• acquiring, from a database, the notification response rule corresponding to the limited use PIN;
• issuing said the notification response in accordance with said notification response rule;
• acquiring, from the database, the emergency response rule corresponding to the limited use PIN;
• issuing the emergency response in accordance with the emergency response rule;
• and
• return an appropriate approval code to the second party, if conditions of use parameters associated with the limited use PIN and the primary account are satisfied;
• and
• decline the authorization request if either the conditions associated with at least one of the primary account and the limited use PIN are not satisfied.

An authorization system for processing authorization requests in a transaction system, the host system configured to:

• receive a limited use Personal Identification Number (PIN) from a first party to facilitate a transaction with a second party, wherein said limited use PIN is generated by at least one of:
• an RFID device and a smartcard and, wherein the limited use PIN is configured to be immediately usable for facilitating the transaction with the second party;
• associate the limited use PIN with a notification response, wherein the notification response is associated with a notification response rule relating to who to notify if the limited use PIN is used;
• associate the limited use PIN with an emergency response, wherein the emergency response is associated with an emergency response rule relating to an emergency entity to notify if the limited use PIN is used;
• receive transaction information from the second party for authorization, wherein the transaction information includes the limited use PIN;
• forward the transaction information to a card authorization system for authorization processing;
• process the transaction information with the card authorization system, wherein the card authorization system determines whether the transaction information includes the limited use PIN and interfaces with a limited use PIN system to determine whether authorization is appropriate, wherein authorization determination includes:
• receiving account information associated with the account number;
• determining whether conditions-of-use parameters associated with the limited use PIN are satisfied, the conditions-of-use parameters defining at least a predetermined restriction on use of the limited use PIN;
• acquiring, from a database, the notification response rule corresponding to the limited use PIN;
• issuing said the notification response in accordance with said notification response rule;
• acquiring, from the database, the emergency response rule corresponding to the limited use PIN;
• issuing the emergency response in accordance with the emergency response rule;
• return an appropriate approval code to the second party, if conditions of use parameters associated with the limited use PIN and the primary account are satisfied;
• and
• decline the authorization request if either the conditions associated with at least one of the primary account and the limited use PIN are not satisfied.

A user interface system configured to allow a first party to:

• register with a card provider to use a transaction system;
• receive a log-in to the transaction system by providing authenticating information;
• receive a verification from the transaction system that the user is authorized;
• designate a transaction account as a primary account;
• submit a limited use Personal Identification Number (PIN) to the card provider, wherein said limited use PIN is generated by at least one of:
• an RFID device and a smartcard and, wherein the card provider associates the limited use PIN with the primary account;
• associate the limited use PIN with a notification response, wherein the notification response is associated with a notification response rule relating to who to notify if the limited use PIN is used;
• associate the limited use PIN with an emergency response, wherein the emergency response is associated with an emergency response rule relating to an emergency entity to notify if the limited use PIN is used;
• submit the limited use PIN to a second party to facilitate at least one of:
• a payment and a receipt of cash, wherein said second party is configured to:
• receive transaction information from the second party for authorization, wherein the transaction information includes the limited use PIN;
• forward the transaction information to a card authorization system for authorization processing;
• process the transaction information with the card authorization system, wherein the card authorization system determines whether the transaction information includes the limited use PIN and interfaces with a limited use PIN system to determine whether authorization is appropriate, wherein authorization determination includes:
• receiving account information associated with the account number;
• and
• determining whether conditions-of-use parameters associated with the limited use PIN are satisfied, the conditions-of-use parameters defining at least a predetermined restriction on use of the limited use PIN;
• acquiring, from a database, the notification response rule corresponding to the limited use PIN;
• issuing said the notification response in accordance with said notification response rule;
• acquiring, from the database, the emergency response rule corresponding to the limited use PIN;
• issuing the emergency response in accordance with the emergency response rule;
• and
• return an appropriate approval code to the second party, if conditions of use parameters associated with the limited use PIN and the primary account are satisfied;
• and
• decline the authorization request if either the conditions associated with at least one of the primary account and the limited use PIN are not satisfied.