Method and system for providing temporary credit authorizations
US6456984B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | May 28, 1999 |
| Grant date | Sep 24, 2002 |
| Priority date | — |
| Expiry date | May 28, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system are provided for issuing credit as payment in a consumer transaction which eliminates the need for a traditional credit card while also minimizing any potential for fraud or theft. The present invention responds to a request for issuing a credit transaction number that is made concurrent with a particular transaction. The credit transaction number is then randomly generated and made valid only for the requested transaction, and automatically ages a short period of time after the request. The credit transaction numbers are continually recycled for subsequent requests irrespective of the customer identity. The request can be made from a mobile communication device such as PCS telephone, or from a personal computer using an electronic commerce program. Transactions between customers and registered or known vendors can be automatically carried out by a centralized service provider without generating the unique, temporary number, or without the need for the customer or vendor to exchange personal information.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.