System And Method For Authorizing Transactions

  • Published: Mar 23, 2017
  • Earliest Priority: Sep 21 2015
  • Family: 1
  • Cited Works: 0
  • Cited by: 1
  • Cites: 0
  • Additional Info: Full text
Abstract

A system and method of evaluating a network-based transaction between a consumer and a merchant entity. The transaction may be processed to include secret authorization information available to the consumer from a payment authority that manages the consumer's funds. The consumer may obtain the secret authorization information from the payment authority, and the merchant entity may query the consumer for correct secret authorization information before authorizing a transaction. This may enable the merchant to rely at least in part on the payment authority's own authentication methods to authenticate a transaction and substantially avoid fraudulent transactions. The secret authorization information, in one embodiment, may be the amount or amounts in the transaction. The total amount of the transaction may be split into a plurality of random amounts that in sum equal the amount associated with the transaction. The consumer may obtain the random amounts by separately authenticating with the payment authority.


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Document History
  • Publication: Mar 23, 2017
  • Application: Sep 21, 2016
    US US 201615271636 A
  • Priority: Sep 21, 2016
    US US 201615271636 A
  • Priority: Sep 21, 2015
    US US 201562221243 P

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