Importance

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Abstract

The present invention facilitates transactions by providing a limited use PIN that is associated with a primary account and/or PIN number, wherein the limited use PIN is presented to the merchant to initiate a transaction. More particularly, the system involves the process of registering a user (if not already pre-registered) to participate in a transaction system; generating a limited use PIN and issuing this number to the user, where the user presents this number to a merchant to complete a sales transaction; the merchant processing this limited use PIN, where the number is typically presented to the credit issuer to facilitate authorization. Additionally, the limited use PIN may also carry with it certain limitations-on-use conditions, where the transaction is not authorized unless these conditions are met. In generating a limited use PIN, the issuer generates a random number and associates this number with the user's primary charge account.

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First Claim