Systems and methods for communicating risk using token assurance data

a technology of token assurance and risk, applied in the field of systems and methods for communicating risk using token assurance data, can solve the problems of difficulty in identifying the source of tokens or the issuer of tokens, and solve the problem of additional problems that need to be solved, and achieve the effect of facilitating payment transactions

Inactive Publication Date: 2015-01-29
VISA INT SERVICE ASSOC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0006]In some embodiments of the invention, a network token system is provided. The network token system provides a platform that can be leveraged by various entities such as third party wallet providers, merchants, acquirers, payment processors, etc. that use tokens to facilitate payment transactions. In the network token system, a token registry vault can provide interfaces for various entities (e.g., mobile devi...

Problems solved by technology

While conventional efforts to use payment tokens have been useful, a number of additional problems need to be solved.
For example, beca...

Method used

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  • Systems and methods for communicating risk using token assurance data
  • Systems and methods for communicating risk using token assurance data
  • Systems and methods for communicating risk using token assurance data

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Embodiment Construction

[0027]Embodiments are directed at systems, methods, and devices for communicating risk using a token assurance level. As explained above, tokenization can involve the replacement or exchange of original payment credentials (e.g., a primary account number (PAN)) for substitute data (e.g., a non-financial identifier or a substitute PAN). A token can be used to initiate or manage transaction activity. Tokens can also improve transaction security.

[0028]However, even though tokens provide a certain level of improved transaction security, it is still desirable for a confidence level or risk assessment to be associated with a token because it may reduce the risk of a fraudulent transaction. The confidence level or risk assessment can be referred to as a token assurance level. Essentially, the token assurance level provides a certain level of “assurance” that the user using the token is in fact the genuine cardholder.

[0029]In some embodiments, the token assurance level is based on how the c...

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Abstract

Systems and methods for communicating risk using token assurance data are provided. A network token system provides a platform that can be leveraged by external entities (e.g., third party wallets, e-commerce merchants, payment enablers/payment service providers, etc.) or internal payment processing network systems that have the need to use the tokens to facilitate payment transactions. An authorization request message can include a token assurance level code that is indicative of a token assurance level associated with a generated token. External or internal entities may use the token assurance level to evaluate risk associated with a payment transaction that uses the token.

Description

CROSS-REFERENCES TO RELATED APPLICATIONS[0001]This application is a non-provisional application of and claims the benefit of priority to U.S. Provisional Application No. 61 / 858,087, filed on Jul. 24, 2013, U.S. Provisional Application No. 61 / 863,863, filed on Aug. 8, 2013, and U.S. Provisional Application No. 61 / 935,036, filed on Feb. 3, 2014, which are herein incorporated by reference in their entirety for all purposes.BACKGROUND[0002]In a traditional electronic payment transaction, a consumer's PAN (primary account number) information is exposed to various entities involved during the transaction lifecycle. The PAN is passed from a merchant terminal, to an acquirer system, a payment processing network, payment gateways, etc.[0003]Because the PAN can be exposed at various points in the transaction lifecycle, some have suggested that payment “tokens” be used to conduct payment transactions. A token serves as an additional security layer to the PAN and in effect becomes a proxy / surro...

Claims

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Application Information

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IPC IPC(8): G06Q20/40
CPCG06Q20/4016H04L9/32H04L2209/42H04L2209/56G06Q20/385G06Q20/40
Inventor DILL, MATTHEWLAXMINARAYANAN, PRASANNAPOWELL, GLENNSHEETS, JOHN F.
Owner VISA INT SERVICE ASSOC
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