Payment transaction process employing dynamic account expiry and dynamic token verification code

Abstract

A method includes receiving a request for payment credentials. The request indicates an account from which payment for a transaction is to be made. A payment token is looked-up that corresponds to the indicated account. Dynamic expiry data and a dynamic token verification code are generated. As a response to the request, the looked-up payment token, the generated dynamic expiry data and the generated dynamic token verification code are transmitted.

What is claimed is: 
     
         1 . A method comprising:
 receiving a request for payment credentials, the request indicating an account from which payment for a transaction is to be made;   looking up a payment token that corresponds to said account;   generating dynamic expiry data and a dynamic token verification code; and   responding to the request by transmitting the looked-up payment token, the generated dynamic expiry data and the generated dynamic token verification code.   
     
     
         2 . The method of  claim 1 , wherein said transmitted payment token, dynamic expiry data and dynamic token verification code collectively uniquely correspond to said transaction. 
     
     
         3 . The method of  claim 2 , wherein said generating step includes a cryptographic process that has the looked-up payment token as an input. 
     
     
         4 . The method of  claim 3 , wherein said cryptographic process has transaction data as another input, said transaction data corresponding to at least one attribute of said transaction. 
     
     
         5 . The method of  claim 1 , further comprising, after said responding step:
 receiving a transaction authorization request message, the transaction authorization request message containing said payment token, said dynamic expiry data and said dynamic token verification code.   
     
     
         6 . The method of  claim 5 , further comprising, after receiving said transaction authorization request message:
 verifying said dynamic expiry data and said dynamic token verification code.   
     
     
         7 . The method of  claim 1 , wherein the receiving, looking-up, generating and responding steps are performed by a payment services computer. 
     
     
         8 . The method of  claim 7 , wherein the payment services computer is operated by an operator of a payment account system. 
     
     
         9 . The method of  claim 1 , wherein the indicated account is a deposit account maintained at a bank. 
     
     
         10 . A method comprising:
 sending a request for payment credentials for a transaction; and   receiving the requested payment credentials, the received payment credentials including a payment token, dynamic expiry data and a dynamic token verification code;
 wherein the payment token, the dynamic expiry data and the dynamic token verification code collectively uniquely correspond to said transaction. 
   
     
     
         11 . The method of  claim 10 , further comprising:
 submitting the received payment credentials to a merchant associated with the transaction.   
     
     
         12 . The method of  claim 11 , wherein the sending, receiving and submitting steps are performed by a mobile device. 
     
     
         13 . An apparatus comprising:
 a processor; and   a memory in communication with the processor, the memory storing program instructions, the processor operative with the program instructions to perform functions as follows:
 receiving a request for payment credentials, the request indicating an account from which payment for a transaction is to be made; 
 looking up a payment token that corresponds to said account; 
 generating dynamic expiry data and a dynamic token verification code; and 
 responding to the request by transmitting the looked-up payment token, the generated dynamic expiry data and the generated dynamic token verification code. 
   
     
     
         14 . The apparatus of  claim 13 , wherein said transmitted payment token, dynamic expiry data and dynamic token verification code collectively uniquely correspond to said transaction. 
     
     
         15 . The apparatus of  claim 14 , wherein said generating function includes a cryptographic process that has the looked-up payment token as an input. 
     
     
         16 . The apparatus of  claim 15 , wherein said cryptographic process has transaction data as another input, said transaction data corresponding to at least one attribute of said transaction. 
     
     
         17 . The apparatus of  claim 13 , wherein the processor is further operative, after performing said responding function, to receive a transaction authorization request message, the transaction authorization request message containing said payment token, said dynamic expiry data and said dynamic token verification code. 
     
     
         18 . The apparatus of  claim 17 , wherein the processor is further operative, after receiving said transaction authorization request message, to verify said dynamic expiry data and said dynamic token verification code. 
     
     
         19 . The apparatus of  claim 13 , wherein the processor and the memory are components of a payment services computer. 
     
     
         20 . The apparatus of  claim 13 , wherein the indicated account is a deposit account maintained at a bank.