Method and system for conducting secure payments over a computer network without a pseudo or proxy account number

US7177848B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Edward J. Hogan · Larchmont, US
• Carl M. Campbell · Newtown Square, US

Key dates

• Filing date: Jun 22, 2001
• Grant date: Feb 13, 2007
• Expiry date: Jul 30, 2022

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/40975
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method is provided for conducting an electronic transaction with a payment account number having a certain amount of available funds, using a payment network and a “check site”. The method comprises the following steps: (a) generating a secret key associated with the payment account number; (b) using the secret key to generate a message authentication code (“MAC”) specific to the transaction; (c) generating an authorization request message including the message authentication code; (d) forwarding the authorization request message over the payment network to the check site for verifying the authenticity of the MAC; (e) verifying the message authentication code by the check site using the secret key; (f) responding to the authorization request message over the payment network based on the available funds and the transaction amount.