WO2011063432A2 - Pre-authorization transaction system - Google Patents
Pre-authorization transaction system Download PDFInfo
- Publication number
- WO2011063432A2 WO2011063432A2 PCT/ZA2010/000073 ZA2010000073W WO2011063432A2 WO 2011063432 A2 WO2011063432 A2 WO 2011063432A2 ZA 2010000073 W ZA2010000073 W ZA 2010000073W WO 2011063432 A2 WO2011063432 A2 WO 2011063432A2
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- authorization system
- card transactions
- transactions according
- transaction
- information
- Prior art date
Links
Classifications
-
- G—PHYSICS
- G07—CHECKING-DEVICES
- G07F—COIN-FREED OR LIKE APPARATUS
- G07F19/00—Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines
- G07F19/20—Automatic teller machines [ATMs]
- G07F19/203—Dispensing operations within ATMs
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/22—Payment schemes or models
- G06Q20/28—Pre-payment schemes, e.g. "pay before"
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
- G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
- G06Q20/322—Aspects of commerce using mobile devices [M-devices]
- G06Q20/3223—Realising banking transactions through M-devices
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
- G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
- G06Q20/325—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices using wireless networks
- G06Q20/3255—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices using wireless networks using mobile network messaging services for payment, e.g. SMS
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/38—Payment protocols; Details thereof
- G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
Definitions
- This invention relates to pre-authorization of card transactions by means of single or multiple transaction signing events.
- a transaction card includes a credit, debit or any other card adapted to receive value which can be deducted by use of a normal card transaction terminal.
- Transactions of this nature will further be understood to include remote purchasing with a card such as tele-sales or online sales, and also automated teller machine (ATM) cash withdrawals.
- ATM automated teller machine
- a seed can be defined as one or more parameter/s included in a encryption string which is used to add unique characteristics to the encryption algorithm, thus when decryption of the encrypted string takes place, the seeds are retrieved along with further information.
- This type of fraud can be committed in a number of ways, the simplest being to use a card to make a transaction without being authorized to do so. This may be accomplished with a stolen card to make a telephone or online purchase.
- Another flaw in this method is that it is of no use during remote card purchases - which accounts for most card related fraud.
- This invention describes the use of separate, parallel communication channels to authorize and authenticate transactions.
- a user receives a text message on a registered mobile telephone before a transaction is authorized by the financial institution. If the transaction is not authorized it will simply fail, whereas if the transactions is desired the user will return a text message to authorize the transaction.
- the user authorizes the transaction be returning a unique code or PIN (personal identification number).
- PIN personal identification number
- this system Although extremely effective, this system also has a number of disadvantages including the fact that the system makes performing a transaction with a card take a longer time than usual. This is due to the fact that a user needs to receive and transmit a text message during the authentication and/or authorization of a transaction.
- a further disadvantage of the current credit card system is often encountered when a user travels internationally.
- the client Before leaving the country in which the credit card was issued, the client needs to advise the bank of their itinerary, usually by informing a bank employee verbally that one will not be home for a period of time. This is not a desirably or safe option.
- the bank then makes a note of one's itinerary on the relevant bank records. If the itinerary changes afterwards and one fails to inform the bank or one makes purchases that do not match the purchasing profile, the credit card is automatically blocked.
- the telephone call to the bank also does not guard clients against possible fraud that could be perpetrated in the country which forms part of their itinerary.
- a pre-authorization system for card transactions includes a mobile communication device, one or more servers including databases, the servers being in communication with one or more financial institutions connected with/linked to the card, the mobile communication device being adapted in use to transmit a message to a receiver in communication with the servers, the message containing a multi factor authentication code interpretable by the server in order to pre- authenticate a transaction up to a predetermined maximum value.
- the message contains multiple information seeds encapsulated in the multifactor authentication code.
- the multifactor authentication code may include information seeds relating to the value of the proposed transaction. Other factors which may be included as seeds in the code are the transaction date, time, expiration time of code, information regarding the mobile communication device, the user account, country in which transaction is taking place, transaction comments and the like.
- the code is generated and transmitted in the form of an alpha numerical code.
- the code is received and interpreted by the authentication server which will then allow a transaction for any value lower than the selected maximum value, provided there are sufficient funds in the account linked to the card.
- the server is adapted to transmit a message to the originating mobile communication device and/or a vendor containing information in which the pre-authorization, and possibly information regarding the available funds, is communicated.
- the system may include a function to cancel an authorization, for instance by sending another message to the server informing it of such cancelation.
- the cancellation is also a multifactor authentication code to prevent tampering.
- the system may also be adapted to allow a predetermined time window in which the transaction needs to be completed failing which the authorization is cancelled automatically.
- the system is simplified for use by illiterate persons.
- the mobile phone may include an icon for instance an image of an ATM. The user selects this icon which causes a message to be transmitted as described above to pre-authorise the proposed withdrawal of cash from the ATM.
- This form may also have the option of pre-approval without specifying the intended value in an effort to make it more user friendly.
- Figure 1 is a schematic representation of a pre-authorisation system according to the invention
- Figure 2 is a schematic representation of an alternative form of the invention.
- a user 10 who wishes to make a purchase using a card 12 either at a retail outlet 14 or for an online purchase 16 accesses an application 18 on a mobile telephone 20.
- the application provides the user with a number of preselected maximum upper values for transactions, for instance:
- the user selects one of these options which causes a code 22 to be generated and transmitted to a server 24 which contains a database.
- the server is connected to the financial institution 26 where the user account which is linked to the card is held.
- the option which the user selects authorises any amount up to that selected maximum upper value, therefore any transaction for a value lower than the selected option will be authorised.
- the code is a multifactor authentication code containing information regarding the time, date, originating phone, selected maximum value and the like.
- the server is adapted to interpret this information and, provided that the funds are available for the transaction, to allow the transaction as authorised by the user/account holder.
- a message 30 may be transmitted from the financial institution to the vendor to this effect.
- a further message 31 may be transmitted to the mobile phone to confirm the pre- authentication.
- the application may further include a cancelation option 32 which a user may select at any time to cancel a pre-authorised transaction.
- This cancellation message may follow the same route as an authorization.
- a user 40 who wishes to use a card 42 to withdraw cash from an ATM 44 is provided with an icon 46 on his mobile telephone 48.
- Selecting this icon causes a multifactor authentication code 50 to be generated and transmitted 52 to a server 54 located at the financial institution 56 where the account connected to the card is held.
- a value is not selected so the user effectively authorises a withdrawal without specifying an intended value. It may however be possible to provide the user with a list of options to select a value as in Figure 1 above, or even to allow a user to enter his own desired value which will then be factored into the code and interpreted by the server.
- the server then transmits a signal 60 to the ATM to allow the proposed withdrawal.
- the pre-authorization may also be communicated 62 to the mobile device.
- this form includes a cancellation function.
- this form may be an icon 64 to indicate a wish to cancel a pre-authorization for an ATM withdrawal.
- the system may be adapted to automatically cancel a pre-authorization after a predetermined time has elapsed without the transaction realising.
Abstract
Description
Claims
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
ZA200908235 | 2009-11-23 | ||
ZA2009/08235 | 2009-11-23 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2011063432A2 true WO2011063432A2 (en) | 2011-05-26 |
WO2011063432A3 WO2011063432A3 (en) | 2013-06-06 |
Family
ID=44060426
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/ZA2010/000073 WO2011063432A2 (en) | 2009-11-23 | 2010-11-23 | Pre-authorization transaction system |
Country Status (1)
Country | Link |
---|---|
WO (1) | WO2011063432A2 (en) |
Cited By (4)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2018111425A1 (en) * | 2016-12-12 | 2018-06-21 | Citibank, N.A. | Systems and methods for pre-staging atm transactions |
US10373248B1 (en) | 2016-12-16 | 2019-08-06 | Wells Fargo Bank, N.A. | Context aware predictive activity evaluation |
US20210150511A1 (en) * | 2019-11-14 | 2021-05-20 | Mastercard International Incorporated | Electronic methods and systems for faster checkout in an e-commerce transaction |
US11144927B1 (en) | 2017-03-27 | 2021-10-12 | Wells Fargo Bank, N.A. | Intelligent authorization system |
Citations (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2001065500A1 (en) * | 2000-03-01 | 2001-09-07 | Siemens Aktiengesellschaft | System and method for confirming a credit card payment transaction via a mobile radio telephone network |
US20050184145A1 (en) * | 2004-02-05 | 2005-08-25 | Simon Law | Secure wireless authorization system |
US20070203850A1 (en) * | 2006-02-15 | 2007-08-30 | Sapphire Mobile Systems, Inc. | Multifactor authentication system |
-
2010
- 2010-11-23 WO PCT/ZA2010/000073 patent/WO2011063432A2/en active Application Filing
Patent Citations (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2001065500A1 (en) * | 2000-03-01 | 2001-09-07 | Siemens Aktiengesellschaft | System and method for confirming a credit card payment transaction via a mobile radio telephone network |
US20050184145A1 (en) * | 2004-02-05 | 2005-08-25 | Simon Law | Secure wireless authorization system |
US20070203850A1 (en) * | 2006-02-15 | 2007-08-30 | Sapphire Mobile Systems, Inc. | Multifactor authentication system |
Cited By (7)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
WO2018111425A1 (en) * | 2016-12-12 | 2018-06-21 | Citibank, N.A. | Systems and methods for pre-staging atm transactions |
US11348077B2 (en) | 2016-12-12 | 2022-05-31 | Citibank, N.A. | Systems and methods for pre-staging ATM transactions |
US10373248B1 (en) | 2016-12-16 | 2019-08-06 | Wells Fargo Bank, N.A. | Context aware predictive activity evaluation |
US11087396B1 (en) | 2016-12-16 | 2021-08-10 | Wells Fargo Bank, N.A. | Context aware predictive activity evaluation |
US11144927B1 (en) | 2017-03-27 | 2021-10-12 | Wells Fargo Bank, N.A. | Intelligent authorization system |
US20210150511A1 (en) * | 2019-11-14 | 2021-05-20 | Mastercard International Incorporated | Electronic methods and systems for faster checkout in an e-commerce transaction |
US11880783B2 (en) * | 2019-11-14 | 2024-01-23 | Mastercard International Incorporated | Electronic methods and systems for faster checkout in an e-commerce transaction |
Also Published As
Publication number | Publication date |
---|---|
WO2011063432A3 (en) | 2013-06-06 |
Similar Documents
Publication | Publication Date | Title |
---|---|---|
KR102416954B1 (en) | Methods for prepaid, debit and credit card security code generation systems | |
US10037516B2 (en) | Secure transactions using a point of sale device | |
US8615468B2 (en) | System and method for generating a dynamic card value | |
US20130346223A1 (en) | Processing point-of-sale transactions using a mobile card and mobile phone | |
US10210716B2 (en) | Communications system facilitating cash transfer | |
US20160239833A1 (en) | Methods and systems for processing an electronic payment | |
US11308481B1 (en) | Cardless ATM authentication | |
US11948135B2 (en) | Casino cash system, apparatus and method utilizing integrated circuit cards | |
US11900345B2 (en) | Financial terminal that automatically reconfigures into different financial processing terminal types | |
WO2014108916A1 (en) | A computer implemented system and method for cashless and cardless transactions | |
EP3761248A1 (en) | Transaction device management | |
WO2011063432A2 (en) | Pre-authorization transaction system | |
CA2640357A1 (en) | A system for managing and facilitating financial transactions locally or remotely made | |
AU2013101298A4 (en) | Payment authorisation method and system | |
AU2015100350A4 (en) | Payment authorisation method and system | |
WO2011058376A1 (en) | Payment authentication system and processing method | |
GB2522235A (en) | Cashless payment system |
Legal Events
Date | Code | Title | Description |
---|---|---|---|
121 | Ep: the epo has been informed by wipo that ep was designated in this application |
Ref document number: 10832389 Country of ref document: EP Kind code of ref document: A1 |
|
122 | Ep: pct application non-entry in european phase |
Ref document number: 10832389 Country of ref document: EP Kind code of ref document: A2 |
|
122 | Ep: pct application non-entry in european phase |
Ref document number: 10832389 Country of ref document: EP Kind code of ref document: A2 |
|
32PN | Ep: public notification in the ep bulletin as address of the adressee cannot be established |
Free format text: NOTING OF LOSS OF RIGHTS PURSUANT TO RULE 112(1) EPC (EPO FORM 1205A DATED 31/01/2013) |
|
122 | Ep: pct application non-entry in european phase |
Ref document number: 10832389 Country of ref document: EP Kind code of ref document: A2 |