Authorizing financial transactions
AssigneeBank of America Corporation
InventorsMark D. Zanzot, Tony England, Christopher R. Griggs
Life of this patent
Estimating the term…
Abstract
A system for authorizing a financial transaction includes a processor operable to execute an application on a wireless communications device that is communicatively coupled to a data stripe through a wired connection, receive a request to authorize a financial transaction involving a financial account associated with account data, access authorization criteria for determining whether to authorize the financial transaction, apply the authorization criteria to the financial transaction, generate an authorization code based on the application of the authorization criteria to the financial transaction, and communicate the authorization code.
Claims26
A system for authorizing a financial transaction, comprising:
- an interface operable to receive a request to authorize a first financial transaction involving a financial account associated with a plurality of account data;
- and
- a processor, communicatively coupled to the interface, executing an application on a wireless communications devices that is communicatively coupled to a data stripe through a wired connection, operable to:
- access authorization criteria for determining whether to authorize the first financial transaction;
- apply the authorization criteria to the first financial transaction;
- generate an authorization code based on successful application of the authorization criteria to the first financial transaction, wherein the interface is operable to communicate the authorization code;
- and
- enable the data stripe to communicate a first account data from the plurality of account data associated with the financial account to a data stripe reader based on the successful application of the authorization criteria to the first financial transaction, wherein the first account data communicated to the data stripe reader is changed for each of a plurality of subsequent financial transactions, and the first account data comprises one or more of an account number and a card verification value.
A non-transitory computer readable medium comprising logic for authorizing a financial transaction, the logic, when executed by a processor, operable to:
- receive, at an application of a wireless communications device that is communicatively coupled to a data stripe through a wired connection, a request to authorize a first financial transaction involving a financial account associated with a plurality of account data;
- access, by the application, authorization criteria to determine whether to authorize the financial transaction;
- apply, by the application, the authorization criteria to the first financial transaction;
- generate, by the application, an authorization code based on successful application of the authorization criteria to the first financial transaction;
- and
- communicate, from the application, the authorization code;
- and
- enable the data stripe to communicate a first account data from the plurality of account data associated with the financial account to a data stripe reader based on the successful application of the authorization criteria to the first financial transaction, wherein the first account data communicated to the data stripe reader is changed for each of a plurality of subsequent financial transactions, and the first account data comprises one or more of an account number and a card verification value.
A method for authorizing a financial transaction, comprising:
- receiving, at an application executed by a processor of a wireless communications device that is communicatively coupled to a data stripe through a wired connection, a request to authorize a first financial transaction involving a financial account associated with a plurality of account data;
- accessing authorization criteria to determine whether to authorize the first financial transaction;
- applying, by the processor, the authorization criteria to the financial transaction;
- generating, by the processor, an authorization code based on successful application of the authorization criteria to the first financial transaction;
- communicating the authorization code;
- and
- enabling the data stripe to communicate a first account data from the plurality of account data associated with the financial account to data stripe reader based on the successful application of the authorization criteria to the first financial transaction, wherein the first account data communicated to the data stripe reader is changed for each of a plurality of subsequent financial transactions, and the first account data comprises one or more of an account number and a card verification value.
Dependencies are inferred from the claim text.