SYSTEM AND METHOD FOR AUTHORIZING TRANSACTIONS

摘要

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.

主权项

1. A method of evaluating a network-based transaction between a first entity and a second entity, the method comprising:
obtaining, from the first entity, payment information relating to a source of funds and an amount of funds to be transferred to the second entity; generating secret authorization information that is unknown to the first entity; generating, based on the payment information, at least one authorization request to be communicated over a network, wherein the authorization request includes the secret authorization information unknown to the first entity; transmitting the at least one authorization request, said transmitting including addressing the at least one authorization request to a payment authority associated with the source of funds; receiving an authorization response from the payment authority for the at least one authorization request; obtaining entity authorization information from the first entity, wherein the entity authorization information is provided to the first entity by the payment authority; and determining the first entity is authorized to transfer the amount of funds based on the entity authorization information corresponding to the secret authorization information.