Patent ID: 7328841
Filing Date: 2008-02-12
Classification: G06Q

Abstract:
1. A method of transaction authorization, comprising: a) storing information uniquely identifying a customer account, b) generating an unpredictable alphanumeric string valid for a pre-determined time span; c) storing the unpredictable alphanumeric string on a central authorization computer for a pre-determined time period, after the time span for which the set was produced, has expired; d) discarding the unpredictable alphanumeric string after said pre-determined time period has expired; e) generating an unpredictable alphanumeric string on a account owner's device, wherein said string on said device is synchronized with the string currently valid on the central computer; f) storing on the central computer information uniquely identifying every registered authorization service subscriber; g) communicating an authorization request between one of said service subscribers and the central computer, wherein said request identifies service subscriber, an account, said string on said device, and the time when the transaction was authorized; h) comparing the party communicating said request with a stored list of eligible service subscribers; i) determining whether said party communicating said request matches with an eligible service provider on said stored list of eligible service subscribers and returning a negative message to the requesting party if a match is not made; j) determining whether said account identified in said request matches a valid account stored in said central computer and returning a positive message to the requesting party if said account is not matched; k) determining whether said alphanumeric string included in said request matches any valid alphanumeric string associated with said account for the time period when said transaction was authorized and stored in said central computer and returning a negative message to the requesting party if a match is not made or returning a positive message to the requesting party if a match is made; l) determining whether said positive authorization threshold is reached and returning a negative message to the requesting party if said positive authorization threshold is reached or returning a positive message to the requesting party if said positive authorization threshold is not reached; and m) compiling authorization process statistics for the account and the service subscriber.