442results about "Debit schemes" patented technology

A technique is used to ensure the authenticity of a wireless transmission source which is requesting a transaction to be performed by a system. The transaction may be a person-to-person money transfer or other value exchange transaction. The wireless transmission source may be a mobile phone or other similar device. The wireless transmission source transmits a key with the transaction request. The system will determine the authenticity of the transmission based on the transmitted key. If the transmission is determined to be authentic, the transaction will be acted upon. Various approaches for determining authenticity are discussed. The technique may also be used to prevent acting upon duplicate transmissions.

Methods and systems whereby two electronic wallets communicate and exchange information. In one such system, a consumer's personal electronic wallet communicates with the exclusive or preferred wallet of a web merchant. In one such system, an internet consumer registers with a web merchant's exclusive or preferred electronic wallet (“merchant wallet”) and provides consumer information (e.g., credit card number, mailing address, and other information) to the merchant wallet, which is stored by the merchant wallet in a database on the merchant server. Such information may be automatically populated by the consumer's personal electronic wallet. The consumer maintains current consumer information in a consumer electronic wallet on the consumer's personal computer. When the consumer visits the merchant site again, and orders goods or services, the merchant's preferred wallet can be automatically updated by the consumer's electronic wallet if any of the data in the merchant's wallet has changed. For example, the consumer wallet examines the information in the merchant wallet to determine if the information in the merchant wallet conforms to the current information in the consumer wallet. If the information does not conform, the consumer wallet communicates the current consumer information to the merchant wallet.

A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of independent reward points issuing entities, with each tracking the user's earned reward points in a user reward point account stored on a multi-function card (such as a frequent flyer account or a credit card loyalty account). The multi-function card is adapted to aggregate some or all of the user's earned reward points from the reward accounts and credit the aggregated points into a single reward exchange account on the multi-function card. The user may then select an item for purchase with the accumulated reward points from the multi-function card. The item is provided to the user in exchange for a subset or all of the reward points from the multi-function card.

Systems and methods are provided that allow for a portable electronic device to provide smart menus to a user based on a context of a transaction. Specifically, the method of using a portable electronic device may include opening a near field communication (NFC) channel with a point-of-purchase device and providing a smart menu based on a determined context. The portable electronic device may be configured to determine the context based at least in part upon acquiring sales transaction information for the point-of-purchase device. Additionally, the portable electronic device may be configured to determine the context based at least in part upon acquiring vendor identification information.

The invention comprises online methods, systems, and software for improving the processing of payments from financial accounts, particularly credit and debit card payments made from consumers to merchants in online transactions. The preferred embodiment of the invention involves inserting a trusted third party online service into the payment authorization process. The trusted third party authenticates the consumer and authorizes the proposed payment in a single integrated process conducted without the involvement of the merchant. The authentication of the consumer is accomplished over a persistent communication channel established with the consumer before a purchase is made. The authentication is done by verifying that the persistent channel is open when authorization is requested. Use of the third party services allows the consumer to avoid revealing his identity and credit card number to the merchant over a public network such as the Internet, while maintaining control of the transaction during the authorization process.

The present invention provides methods, systems and transaction cards or identification systems, using transaction network comprising proprietary card network, EFT, ACH, or ATM, for end user management of a global financial account by manual or automatic prepaying, prepaying, paying or unpaying, debiting or crediting, or readjustment or presetting, using parameters relating to portions of paid or unpaid financial transactions or account balance amounts in multiple credit, cash or other existing, or end user created, financial accounts or sub-accounts in said global financial account that is optionally subject to financial account issuer transaction or readjustment fees from end users and merchants, including optional use for financial transactions as a credit transaction card requiring merchant credit card interchange or other fees, and optional end user fees, as additional revenue to the global account issuer.

Systems, devices, apparatuses, and methods for providing tokenization as a service are provided. Embodiments of the invention involve decoupling a “tokenization service” from other services offered by a merchant service provider, and offering the tokenization service as a stand-alone service. In accordance with an embodiment, a merchant service provider can receive payment data associated with a transaction between a consumer and a first entity. The merchant service provider can generate a payment token that represents the payment data and transmit a copy of the payment token to the first entity. The first entity can then transmit the payment token and order information to a second entity specified in the transaction. The merchant service provider can subsequently receive a request to complete the transaction from the second entity. The request can include the copy of the payment token from the second entity.

A system and method of providing an online content portal for sending affiliate content to users of an online account system via the Internet. An online content portal is provided with each user cash account for sending affiliate content. Users conduct purchase transactions with third parties via the Internet using online cash account funds. The system is configured to provide valid charge numbers acceptable to the third parties to consummate the purchase transactions. The charge numbers are similar to standard credit card numbers and universally accepted, where the system is also configured to be the processor of such charge numbers. The shopping and purchase activity of users is monitored and stored along with account information in a user information database. Affiliates may download and/or search the user information database to target users for sending the affiliate content. The online content portal system facilitates collection of valuable user information and identification of users to receive selected types of content.

A method and apparatus handling payment transactions in a system using mobile communication devices as stored value devices are disclosed. A transaction operations server receives multiple records of the transaction from the stored value device—one via a communication channel through the telecommunication provider network, and another via an independent communication channel. The records are reconciled at the transaction server for transaction verification.

Methods, apparatus and systems are provided that enables at least one debit for a financial transaction and account management features using at least two financial accounts from which such debits and/or credits can be made from said at least two financial accounts using preset financial account parameters including, but not limited to, at least one ratio, an amount threshold, a remainder threshold, a minimum available account balance, a maximum available account balance, a minimum debit amount, a range of debit amounts, a maximum debit amount, a qualitative or quantitative aspect of at least one said financial accounts, or any combination thereof, and/or other parameters, such as, but not limited to at least one threshold amount and/or remainder amount. The transaction processor also allows account debiting or account crediting parameters to be set in accordance to any merchant identifier information, and permits account balances used for a given transaction to be readjusted after said transaction has been posted. A smart card or personal identification systems embodiment of the transaction processor comprising certain capabilities of the global financial card account embodiment is also provided.

A method of providing a magnetic-stripe type payment card with coupons and micropayment authorizations provides an internal link on a payment card between a contact/contactless processor and a MEMS magnetic device. This communicates information received from a contact/contactless payments infrastructure to be presented to a magnetic stripe payments infrastructure as specially recorded data bits written by the MEMS magnetic device in a magnetic stripe track.

According to an embodiment of the present invention, a computer implemented method and system for processing payments may involve receiving a payment file from a paying entity; identifying at least one payee from the payment file; identifying a payment amount for the at least one payee for a contribution based on a pre-existing contract between the paying entity and the at least one payee for recurring payments to the at least one payee; identifying a payment method for the at least one payee from a payee profile; and distributing the payment amount via the payment method to the at least one payee; wherein a group manages the recurring payments for the at least one payee.

A card registry system is configured to automatically identify financial card information in one or more credit files associated with a consumer and populate a card registry account of the consumer with the identified financial card information. Once the financial card information has been obtained from the credit file(s), the card registry system may transmit cancellation and/or reissuance requests to the respective card issuers in the instance that one or more cards are compromised, so that the financial cards may be easily and efficiently cancelled and/or reissued at the request of the consumer.

A method and system for prepaying wireless telecommunications charges utilizes computer hardware and software including, for example, a user's mobile phone, a mobile operator's interactive voice response unit, a mobile payments interactive voice response unit, SMS, test messaging, email, ATM, kiosk, the Internet, and/or WAP or the like, a mobile payments engine, a mobile operator's prepaid billing system, a subscriber database, a payment gateway, and a transaction processing platform. The mobile payments engine receives information identifying a user's wireless telecommunication device via the mobile payments interactive voice response unit, passes the information to the mobile operator's billing system with a request for validation of a mobile account for the user, and if validation is received, the mobile payments engine receives financial source account and user identity verification information from the user, assigns a mobile personal identification number for the user, and arranges a credit from the source account to the user's mobile account.

A changeable cover for an electronic device and method of using same in a payment system is provided. The cover has a transponder responsive to interrogation by an electric field. The cover provides an electronic identification number and other information in response to the interrogation signal. Also provided is a system for making payments, comprising at least one mobile station (4) which has an associated cover (100) for providing local data transfer. The system also comprises at least one point of sale terminal or the like, which has a second transceiver for providing data transfer.