Systems and methods for secure debit payment

摘要

A method for generating a personal identification number (PIN) debit child product for use in performing a debit payment transaction with a merchant entity. A payment processing platform receives a user selection of a financial institution made via a merchant payment page and directs the user to authenticate a user identity with the financial institution. The payment processing platform receives a user selection of a core account held with the financial institution, such that the core account provides financial backing for the PIN debit child product. The PIN debit child product is generated that includes a child card number and a virtual PIN associated with the core account. Advantageously, the method provides the ability to make PIN debit transaction on the Internet.

主权项

1. A computer-implemented method for generating a personal identification number (PIN) debit child product for use in performing a debit payment transaction with a merchant entity that is configured to provide goods or services, the method comprising:
receiving a user selection of a financial institution made via a merchant payment page displayed on a display device in a web browser application executing on a computer system; directing the user to authenticate a user identity with the financial institution; receiving, by a payment processing platform that is separate and distinct from the financial institution, a user selection of a core account held with the financial institution, wherein the core account provides financial backing for the PIN debit child product; generating, via one or more computer processors of the payment processing platform, the PIN debit child product that is associated with the core account and includes a virtual PIN and a BIN (bank identification number) that identifies the payment processing platform as an issuer of the PIN debit child product; receiving, by the payment processing platform, a first payment transaction from the merchant entity that is initiated using the PIN debit child product and, in response, the payment processing platform generates a second payment transaction for output to the financial institution that includes information specific to the core account.