Financial transaction method and system having an update mechanism

US10147077B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Patrick Mestré · Sart-Bernard, BE
• Cristian Radu · Beauvechain, BE
• David Anthony Roberts · Petworth, GB
• Edward L. H. Van de Velde · Leuven, BE

Key dates

• Filing date: Sep 21, 2010
• Grant date: Dec 4, 2018
• Expiry date: Mar 23, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/127
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A payment device and method and system for using the payment device is described capable of utilizing a pre-authorized amount on existing infrastructure, including POS terminals or for using offline pre-paid products on this infrastructure. The updates for the pre-authorized or offline prepaid products can be sent by the issuer and applied by the card contemporaneously with the card's processing of the issuer authentication data but without requiring any additional bytes in the issuer authentication data. The updates performed by the issuer can be larger and more extensive than could be achieved by using any available space in the issuer authentication data.