PROCESSING OF FINANCIAL TRANSACTIONS USING DEBIT NETWORKS

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United States of America Patent

SERIAL NO

15803103

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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Methods and systems are disclosed for executing financial transactions between customers and merchants. An identifier of a financial account is received from the customer at a merchant system. A one-time password is also received from the customer at the merchant system, with the customer having been provided with the one-time password by a mobile electronic device or contactless presentation instrument. A cryptogram is generated to include the identifier of the financial account encrypted using the one-time password. An authorization request is formulated at the merchant system. The authorization request includes the cryptogram and transaction information describing at least a portion of the financial transaction. The authorization request is transmitted from the merchant system to an authorization processor for authorization of the financial transaction.

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Patent Owner(s)

Patent OwnerAddress
FIRST DATA CORPORATION6200 SOUTH QUEBEC STREET SUITE 270B GREENWOOD VILLAGE CO 80111

International Classification(s)

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  • 2017 Application Filing Year
  • G06Q Class
  • 16857 Applications Filed
  • 9579 Patents Issued To-Date
  • 56.83 % Issued To-Date
Click to zoom InYear of Issuance% of Matters IssuedCumulative IssuancesYearly Issuances2017201820192020202120222023202420250255075100

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Royyuru, Vijay Norristown, US 9 107

Cited Art Landscape

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Patent Citation Ranking

  • 1 Citation Count
  • G06Q Class
  • 30.77 % this patent is cited more than
  • 7 Age
Citation count rangeNumber of patents cited in rangeNumber of patents cited in various citation count ranges243984301 - 1011 - 2021 - 3031 - 4002.557.51012.51517.52022.52527.53032.53537.54042.5

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