METHOD AND SYSTEM FOR CONDUCTING PRE-AUTHORIZED FINANCIAL TRANSACTIONS

摘要

A method and system for conducting a pre-authorized financial transaction is disclosed. A security gateway receives a pre-authorization token and a consumer alias from a merchant or an acquirer of the merchant. The token identifies a pre-authorized financial transaction and the token and alias have previously been provided to the merchant by a consumer. The alias is matched with a stored alias to identify an electronic device of the consumer. An authorization request is transmitted to the electronic device. A confirmation message or a denial message is received by the security gateway in response to the authorization request. The token may be associated with a series of recurring transactions with the merchant. The consumer may utilize the electronic device to send a request to the security gateway to cancel the series of recurring transactions. The security gateway may disable the token and transmit a cancellation notification to the merchant.

主权项

1. A method comprising:
receiving, by a server computer from a user device associated with a user, a request to cancel a series of recurring transactions between the user and a merchant computer and associated with an account of the user; disabling, by the server computer, use of a token associated with the series of recurring transaction; and transmitting, by the server computer, a notification to the merchant computer that the series of recurring transactions has been cancelled by the user.