DISTRIBUTED AUTHENTICITY VERIFICATION FOR CONSUMER PAYMENT TRANSACTIONS

摘要

Payment tokens designed for display on a consumer's mobile device include dynamic trust data (e.g., transaction history and/or token generation date) along with financial account information, enabling merchants to make an informed decision about whether to accept payment without communication with the central processing system, and also protecting the consumer's account information from theft.

主权项

1. A method of processing a transaction among a consumer, a merchant point-of-sale system and a transaction-processing entity, the method comprising:
generating a token encrypted with data identifying the consumer and trust data for the consumer and at least one individual with whom the consumer is associated; receiving and storing the token by a device of the consumer; reading and decrypting, by the merchant system, the token upon presentation thereof by the consumer's device in connection with the transaction; authorizing, by the merchant system, the transaction based on (i) successful decryption of the token and (ii) the trust level of the consumer and the at least one associated individual without communication with the transaction-processing entity; subsequent to authorization of the transaction by the merchant system, communicating, by the merchant to the transaction-processing entity, a record of the transaction and authorization thereof; and following the communication from the merchant system to the transaction-processing entity, completing the authorized transaction by causing funds to be transferred from the consumer's financial account to the merchant.