System and method for new execution and management of financial and data transactions

Patent metadata

Field	Value
Publication number	US-9010633-B2
Application number	US-201313846578-A
Country	US
Kind code	B2
Filing date	Mar 18, 2013
Priority date	Jul 15, 2005
Publication date	Apr 21, 2015
Grant date	Apr 21, 2015

Abstract

A system and method for execution of financial and data transactions includes a point-of-sale device configured to execute a transaction in which at least one good or service is sold to an individual having a card with a storage medium encoding a card number. The transaction is completed after said point-of-sale device receives a data transmission authorizing said transaction. The point-of-sale device is configured to communicate via the Internet with a first computing system. The first computing system stores a set of instructions that cause the first computing system to evaluate the transaction to determine whether the transaction is to be authorized, and to send a transmission authorizing the transaction via the open network to said point-of-sale device.

First claim

The invention claimed is:

1. A method comprising:
encrypting, by a computer-based system a personal identification number (PIN) and at least one of a merchant identifier, a store identifier, or a point-of-sale (POS) device identifier to create a first encrypted object, wherein the computer-based system comprises a transaction authorization processor and a tangible, non-transitory memory in communication with the transaction authorization processor;
appending, by the computer-bas…

Assignees

• American Express Travel Relate

Inventors

• Hogg Jason J
• Graf Patrick

Classifications

• G06Q20/357

  Physics · mapped topic

• G07F7/08

  Physics · mapped topic

• G06Q30/0214

  Physics · mapped topic

• G06Q20/12

  Physics · mapped topic

• G06Q20/24

  Physics · mapped topic