Importance

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Abstract

Instead of a PIN which is associated with an account and provides access to an account, a card identification code, which is located on the card but does not provide automatic access to an account, is used to verify that the consumer currently possesses the transaction card at the time of purchase and/or is the true card owner. At the time of card printing, an embossing file of account codes including associated identification codes is created and loaded into the account database. At the time of authorization, the identification code and the account code are entered into a POS device and sent to an authorization system. If the identification codes match, and other authorization parameters are satisfied, the transaction card is authorized.

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First Claim