Method and system for conducting secure payments over a computer network

a computer network and secure technology, applied in the field of secure financial transactions over a communications network, can solve the problems of inability to make fraudulent transactions using, risk of theft or misuse of financial information, and difficulty in companies
US20080065554A1Inactive Publication Date: 2008-03-13HOGAN EDWARD J +1
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Patent Information

Authority / Receiving Office
US · United States
Patent Type
Applications(United States)
Current Assignee / Owner
HOGAN EDWARD J
Publication Date
2008-03-13
Estimated Expiration
Not applicable · inactive patent

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Abstract

A method is provided for conducting a financial transaction by a purchaser with a merchant having an acquirer bank, over a communications network. The method includes the steps of sending a first authorization request using a pseudo account number associated with a real account number to a service provider which forwards a second authorization request to the issuer using the real account number and preferably a pseudo acquirer code associated with the service provider such that the response to the second request is based on the real account number and sent back to the service provider who preferably forwards a response to the first request preferably to the “real” acquirer. A message authentication code is further provided which includes transaction data, and where the authorization request is formatted as a standard payment card track having one or more fields including a discretionary field in which the message authentication code is placed.
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Description

RELATED APPLICATIONS

[0001] This application is a divisional of U.S. patent Ser. No. 09 / 833,049 filed Apr. 11, 2001 which claims priority to U.S. provisional application 60 / 195,963, filed on Apr. 11, 2000, and entitled “Method and System for Conducting Secure Payments Over A Computer Network,” which is hereby incorporated by reference, and to U.S. application Ser. No. 09 / 809,367, filed Mar. 15, 2001, and entitled “Method and System for Secure Payments Over A Computer Network,” also incorporated by reference. BACKGROUND OF INVENTION

[0002] This invention relates to a method and system for conducting secure financial transactions over a communications network and more particularly to a method and system for transmitting payments securely over a computer network, such as the Internet, and for transmitting sensitive information securely over public communication channels.

[0003] As is self-evident, on-line commerce has experienced tremendous growth over the last few years but even with ...

Claims

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