Systems and methods for managing third party tokens and transactions across issuer ecosystems

Patent metadata

Field	Value
Publication number	US-12079801-B2
Application number	US-202318329371-A
Country	US
Kind code	B2
Filing date	Jun 5, 2023
Priority date	Jun 18, 2018
Publication date	Sep 3, 2024
Grant date	Sep 3, 2024

Abstract

System and methods for managing third party tokens and transaction across issuer ecosystems are disclosed. In one embodiment, in an information processing device comprising at least one computer processor, a method for managing payment tokens may include: (1) a first computer program associated with a financial institution and executed by the information processing device accessing a payment token associated with a second computer program executed by the information processing device; (2) the first computer program identifying the payment token as associated with a financial instrument issued by the financial institution; (3) a backend for the financial institution generating an association between the payment token and the financial institution; and (4) the backend for the financial institution communicating the association to an authorization platform for the financial institution.

First claim

What is claimed is:

1. A method for managing payment tokens, comprising:
receiving, by an electronic device for a financial institution and from a financial institution electronic wallet application executed on a mobile electronic device, a request to provision a payment token for a financial instrument issued by a financial institution to a third-party electronic wallet application also executed by the mobile electronic device, wherein the financial institution electronic wallet application and the third-party electronic wallet application are configured to store provisioned payment tokens for associated credit cards or debit cards and are configured to conduct mobile payment transactions;
generating, by the electronic device and in response to receiving the request, the payment token for the financial instrument;
provisioning, by the financial institution electronic wallet application, the payment token to the third-party electronic wallet application;
receiving, by the financial institution electronic wallet application, approval to access the third-party electronic wallet application;
accessing, by the financial institution electronic wallet application and in response to the approval, the third-party electronic wallet application;
identifying, by the financial institution electronic wallet application, the payment token in the third-party electronic wallet application as issued by the financial institution and provisioned to the third-party electronic wallet application by the financial institution electronic wallet application;
setting a token wallet characteristic indicator for the payment token that indicates that the payment token is for an account issued by the financial institution;
communicating the payment token with the token wallet characteristic indicator to a token vault;
distributing the token wallet characteristic indicator to an authorization platform for the financial institution wherein the distributing includes adding the token wallet characteristic indicator to a transaction record; and
communicating, by the electronic device, an association between the payment token and the financial institution to an authorization platform for the financial institution;
wherein the authorization platform is configured to conduct a transaction from the third-party electronic wallet application with the payment token with the same benefits as if the transaction had originated from the financial institution electronic wallet application based on the token wallet characteristic indicator.

2. The method of claim 1 , further comprising:
communicating, by the electronic device, the payment token to the third-party electronic wallet application.

3. The method of claim 2 , wherein the payment token is communicated to the third-party electronic wallet application via the financial institution electronic wallet application.

4. A method for managing payment tokens, comprising:
receiving, by an authorization platform computer program for an authorization program for a financial institution and from a point of transaction device, a transaction comprising a payment token, the transaction conducted using a third-party electronic wallet application executed by a mobile electronic device;
retrieving, from a token vault, a token wallet characteristic indicator for the token;
determining, by the authorization platform computer program, that the payment token is associated with a financial institution based on the token wallet characteristic indicator, wherein the payment token is generated by a electronic device for a financial institution in response to receiving a request from a financial institution electronic wallet application to provision the payment token to the third-party wallet application and provisioned to the third-party wallet application by the electronic device, wherein the financial institution electronic wallet application is configured to receive approval to access the third-party electronic wallet application, to access the third-party electronic wallet application in response to the approval and to identify the payment token in the third-party electronic wallet application as issued by the financial institution and provisioned to the third-party electronic wallet application by the financial institution electronic wallet application;
adding, by the authorization platform computer program, the token wallet characteristic indicator to a transaction record for the transaction; and
conducting, by the authorization platform computer program, the transaction as if the transaction had originated from a financial institution electronic wallet application for the financial institution;
wherein the financial institution electronic wallet application and the third-party electronic wallet application are configured to store provisioned payment tokens for associated credit cards or debit cards and are configured to conduct mobile payment transactions.

5. The method of claim 4 , wherein the step of conducting transaction as a transaction conducted using an electronic wallet for the financial institution comprises applying a benefit that is issued to transactions using the electronic wallet for the financial institution to the transaction.

6. The method of claim 5 , wherein the benefit is a discount or an issuance of reward points.

7. The method of claim 4 , wherein the financial institution conducts the transaction in an alternate currency.

Assignees

• Jpmorgan Chase Bank Na

Inventors

• Dao Tuan
• Spector Howard
• Mullaney Craig
• Hammad Ayman
• Devan Stanley M
• Ghosh Soumyajit
• Panchomarthi Sangameswara

Classifications

• 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 · CPC title

• G06Q20/322

  Aspects of commerce using mobile devices [M-devices] · CPC title

• G06Q30/0215 Primary

  Including financial accounts · CPC title

• G06Q20/38215

  Use of certificates or encrypted proofs of transaction rights · CPC title

• G06Q20/02

  involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] · CPC title