Method and system for processing recurrent consumer transactions
US7996288B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Nov 15, 2000 |
| Grant date | Aug 9, 2011 |
| Priority date | — |
| Expiry date | Oct 1, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In a communications network-based system, a method for securely processing recurrent consumer transactions. Merchant-specific proxy financial account information is provided to a user and maintained in a database, the proxy financial account information valid for transactions at a single merchant only. A request for transaction approval is received from a merchant, the request including a merchant identifier and a user's proxy financial account information. The database is queried to determine if the proxy financial account is valid for the merchant seeking transaction approval. The proxy financial account information may include a credit card account number and/or a proxy billing address linked to a financial account. A merchant identifier string, identifying the authorized merchant, may be encoded in the credit card number and/or proxy billing address. A communications network-based system and software program for implementing the present invention are also disclosed.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.