Token-based transaction system and method to facilitate non-cash payments without using personally identifiable information data

US10726415B2 · kind B2 · utility

Inventors

• Tyson Kopczynski · Belmont, US
• Daniel Chiang · Mountain View, US

Key dates

• Filing date: May 18, 2015
• Grant date: Jul 28, 2020
• Expiry date: Aug 17, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4014
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system and method for token-based transactions to facilitate non-cash payments without using personally identifiable information data is disclosed. The system generally includes at least one computer processor and a module, which when executed by the at least one computer processor, causes the computer processor to exchange data representative of a request for identification with a computing device of a Payer Entity. The computer processor generates a signed Digital Debt Obligation, including purchase metadata comprising currency and at least one preferred payment provider, and sends the signed digital debt to the computing device of the Payer Entity. The computer processor receives data representing an approved Digital Debt Obligation from the computing device of the Payer Entity and verifies the approved Digital Debt Obligation. The computer processor sends data representative of the approved Digital Debt Obligation to a Payment Processor and queries the Payment Processor for supported payment methods. The computer processor then submits the approved Digital Debt Obligation to a payment provider's service entry point to complete the transaction.