Methods and systems for preventing a fraudulent payment transaction

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 11907953
APP PUB NO 20210256526A1
SERIAL NO

17173998

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Abstract

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Embodiments provide methods and systems for preventing a fraudulent payment transaction. The method performed by issuer system associated with payment account of user includes generating unique data for payment transaction of the user upon approval of payment transaction authorization request signal. The method includes facilitating encryption of the unique data based on encryption key and sending payment transaction authorization response signal to payment server associated with payment network. The payment transaction authorization response signal includes at least the encrypted unique data. The method includes processing the payment transaction upon receiving a notification of a successful validation of the payment transaction authorization response signal from payment server. The validation of the payment transaction authorization response signal is performed by payment server. For validation, payment server decrypts unique data received in payment transaction authorization response and determines match between decrypted unique data and payment data associated with payment transaction authorization request signal.

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Patent Owner(s)

Patent OwnerAddress
MASTERCARD INTERNATIONAL INCORPORATED2000 PURCHASE STREET PURCHASE NY 10577

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Naik, Dattesh Pune, IN 4 7
Pareek, Ravi Pune, IN 24 65
Teragankar, Praveen Dharwad, IN 3 2

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Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
3.5 Year Payment $1600.00 $800.00 $400.00 Aug 20, 2027
7.5 Year Payment $3600.00 $1800.00 $900.00 Aug 20, 2031
11.5 Year Payment $7400.00 $3700.00 $1850.00 Aug 20, 2035
Fee Large entity fee small entity fee micro entity fee
Surcharge - 3.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 7.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 11.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge after expiration - Late payment is unavoidable $700.00 $350.00 $175.00
Surcharge after expiration - Late payment is unintentional $1,640.00 $820.00 $410.00