US 8,099,368 B2
Intermediary service and method for processing financial transaction data with mobile device confirmationGeneral
US 8,099,368 B2
Intermediary service and method for processing financial transaction data with mobile device confirmation
Tech Center:
3600 Transportation, Construction, Electronic Commerce, Agriculture, National Security and License and Review
Examiner:
James A Reagan
Art Unit:
3621 Business Methods — Incentive Programs, Coupons; Operations Research; Electronic Shopping; Health Care; Point of Sale, Inventory, Accounting; Cost/Price, Reservations, Shipping and Transportation; Business Processing
Agent:
Inventors:
Todd R. Coulter; Mordechai E. Kaplinsky; Christopher E. Lewis
Assignee:
COULTER, TODD RUSSELL
Priority:
09/10/09
Filed:
09/10/09
Granted:
01/17/12
Expiration:
11/08/28
Abstract
A transaction processing service operates as an intermediary between acquirers of financial transaction requests and issuing institutions that process the financial transaction requests. The intermediary service utilizes a customer's mobile device as an out-of-band communication channel to notify a customer of a received financial transaction request. To send the notification, the intermediary service retrieves stored customer information, including an address of the customer's mobile device and a list of payment instruments that can be used to pay for the transaction. Before continuing to process the received financial transaction request, the service may first require the customer to confirm the transaction via the mobile device. The intermediary service retrieves financial account information associated with the customer from issuing institutions, and, if the transaction is confirmed, provides the account information to acquirers in order to allow transactions to be processed.
Cooperative Patent Classification (CPC)
G06G06Q20/3674G06Q