Methods and systems for cardholder initiated transactions
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United States of America Patent
Stats
-
Jan 15, 2013
Grant Date -
Oct 4, 2012
app pub date -
Jun 18, 2012
filing date -
Dec 31, 2007
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A cardholder-initiated financial transaction using a cardholder controlled input device in communication with a payment card network and a database is disclosed. The cardholder uses a payment card issued to the cardholder by an issuer bank. An exemplary method includes the steps of storing merchant data within the database including data identifying the merchants registered to utilize the card network and receiving from the input device transaction data relating to the financial transaction. The transaction data includes an authorization request and merchant identifying data that identifies the merchant involved in the transaction. The method further includes determining that the identified merchant is registered to utilize the card network by comparing the transaction data with the merchant data stored in the database, forwarding the authorization request to the issuer bank, receiving a response to the request from the issuer bank, and automatically forwarding the response to the input device.
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