System and method for canceling a payment after initiating the payment using a proxy card
US10885515B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 15, 2018 |
| Grant date | Jan 5, 2021 |
| Priority date | — |
| Expiry date | Oct 15, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40145
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Apparatuses and methods for changing a financial account after initiating a payment using a proxy object, such as a proxy card, are disclosed. The proxy card is associated with multiple financial accounts, such as accounts associated with credit cards, debit cards, and pre-paid gift cards. A consumer presents the proxy card to a merchant to make a payment, and the merchant swipes the proxy card and processes the payment by sending transaction information to a financial system. A computer system associated with the financial system selects a payment account associated with the proxy card to use for the payment, and an authorization for the transaction is obtained. Later, the consumer is given a limited time within which he may change the financial account used for the payment, such as by using his mobile device to select a different account associated with the proxy card to use to obtain funds for the payment.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.