Systems and methods for processing cardless transactions

Abstract

Systems and methods are provided for processing cardless financial transactions at transaction devices such as Automated Teller Machines. An example method comprises receiving a transaction request including at least one transaction parameter and receiving a substitute value representing an account for processing the transaction request. The substitute value is distinct from an account number associated with the account. The method further comprises sending the at least one transaction parameter and the substitute value to a payment network associated with the substitute value and completing the transaction request. A second method comprises receiving a transaction request with at least one transaction parameter and a substitute value. The second method further comprises determining account credentials associated with the substitute value using the account credentials.

What is claimed is: 
     
         1 . A method for processing a financial transaction, comprising:
 receiving, at an electronic device, a transaction request including at least one transaction parameter;   receiving, at the electronic device, a substitute value, the substitute value being associated with an account for processing the transaction request and being distinct from an account number associated with the account;   determining, at the electronic device, whether the substitute value is associated with a payment network;   sending the at least one transaction parameter and the substitute value to the payment network; and   completing, at the electronic device, the transaction request based on a response received from the payment network.   
     
     
         2 . The method of  claim 1 , wherein the at least one transaction parameter comprises an indication of at least one of a withdrawal, a deposit, a transfer, or a balance inquiry, and wherein completing the transaction request comprises at least one of providing funds, receiving funds, providing an indication of success or failure of the transaction request, providing a balance associated with the account, or declining the transaction request. 
     
     
         3 . The method of  claim 1 , wherein the substitute value is a constructed value in the form of a payment card number containing an indicator value associated with the payment network, the indicator value not identifying a financial institution containing the account. 
     
     
         4 . The method of  claim 3 , wherein the indicator value associates the constructed value with a second payment network. 
     
     
         5 . The method of  claim 1 , wherein the substitute value comprises a dynamic token associated with account credentials, the dynamic token being usable for only one transaction. 
     
     
         6 . The method of  claim 1 , wherein the step of receiving a response comprises receiving a response generated by the payment network. 
     
     
         7 . The method of  claim 1 , wherein the electronic device is an Automated Teller Machine (ATM) or a point-of-sale (POS) device. 
     
     
         8 . A method for processing a financial transaction, comprising:
 receiving at a computer associated with a payment network, from an electronic device, a transaction request including at least one transaction parameter and a substitute value, the substitute value being associated with an account for processing the transaction request and being distinct from an account number associated with the account;   determining account credentials associated with the substitute value;   determining whether the determined account credentials comprise bank account information or a payment card number associated with the account; and   based on the account credentials determination, using the computer, processing the transaction request and sending the transaction request and determined account credentials to a financial institution.   
     
     
         9 . The method of  claim 8 , further comprising:
 determining, via the computer, whether the substitute value contains an indicator value that associates the substitute value with a second payment network.   
     
     
         10 . The method of  claim 8 , further comprising:
 generating the substitute value in response to receiving account credentials and user credentials from one of the electronic device or a mobile device; and   storing, in a database, the substitute value in association with the user credentials.   
     
     
         11 . The method of  claim 8 , wherein the at least one transaction parameter comprises an indication of at least one of a withdrawal, a deposit, a transfer, or a balance inquiry. 
     
     
         12 . The method of  claim 8 , wherein the substitute value is a constructed value in the form of a payment card number containing an indicator value associated with the payment network, the indicator value not identifying a financial institution containing the account. 
     
     
         13 . The method of  claim 12 , wherein the indicator value associates the constructed value with a second payment network. 
     
     
         14 . The method of  claim 8 , wherein the electronic device is an Automated Teller Machine (ATM) or a point-of-sale (POS) device. 
     
     
         15 . A system for processing a financial transaction, comprising:
 a processor system; and   storage containing computer-readable instructions, the instructions configured to, when executed by the processor system, cause the processor system to:
 receive a transaction request including at least one transaction parameter; 
 receive a substitute value, the substitute value being associated with an account for processing the transaction request and being distinct from an account number associated with the account; 
 determine whether the substitute value is associated with a payment network; 
 send the at least one transaction parameter and the substitute value to the payment network; and 
 complete the transaction request based on a response received from the payment network. 
   
     
     
         16 . The system of  claim 15 , wherein the at least one transaction parameter comprises an indication of at least one of a withdrawal, a deposit, a transfer, or a balance inquiry, and wherein completing the transaction request comprises at least one of providing funds, receiving funds, providing an indication of success or failure of the transaction request, providing a balance associated with the account, or declining the transaction request. 
     
     
         17 . The system of  claim 15 , wherein the substitute value is a constructed value in the form of a payment card number containing an indicator value associated with the payment network, the indicator value not identifying a financial institution containing the account. 
     
     
         18 . The system of  claim 17 , wherein the indicator value associates the constructed value with a second payment network. 
     
     
         19 . The system of  claim 15 , wherein the substitute value comprises a dynamic token associated with account credentials, the dynamic token being usable for only one transaction. 
     
     
         20 . The system of  claim 15 , wherein the step of receiving a response comprises receiving a response generated the payment network. 
     
     
         21 . The system of  claim 15 , wherein the electronic device is an Automated Teller Machine (ATM) or point-of-sale (POS) device. 
     
     
         22 . A system for processing a financial transaction, comprising:
 a processor system associated with a payment network; and   storage containing computer-readable instructions, the instructions configured to, when executed by the processor system, cause the processor system to:
 receive, from an electronic device, a transaction request including at least one transaction parameter and a substitute value, the substitute value being associated with an account for processing the transaction request and being distinct from an account number associated with the account; 
 determine account credentials associated with the substitute value; 
 determine whether the determined account credentials comprise bank account information or a payment card number associated with the account; and 
 based on the account credentials determination, process the transaction request and send the transaction request and the determined account credentials to a financial institution. 
   
     
     
         23 . The system of  claim 22 , wherein the instructions are further configured to cause the processor system to: determine whether the substitute value contains an indicator value that associates the substitute value with a second payment network. 
     
     
         24 . The system of  claim 22 , wherein the instructions are further configured to cause the processor system to:
 generate the substitute value in response to receiving account credentials and user credentials from one of the electronic device or a mobile device; and   store, in a database, the substitute value in association with the user credentials.   
     
     
         25 . The system of  claim 22 , wherein the at least one transaction parameter comprises an indication of at least one of a withdrawal, a deposit, a transfer, or a balance inquiry. 
     
     
         26 . The system of  claim 22 , wherein the substitute value is a constructed value in the form of a payment card number containing an indicator value associated with the payment network, the indicator value not identifying a financial institution containing the account. 
     
     
         27 . The system of  claim 26 , wherein the indicator value associates the constructed value with a second payment network. 
     
     
         28 . The system of  claim 22 , wherein the electronic device is an Automated Teller Machine (ATM) or point-of-sale (POS) device.