Patent ID: 8527417
Filing Date: 2013-09-03
Classification: G06Q

Abstract:
1. A method for authenticating an identity of a cardholder in a financial transaction initiated by the cardholder with a merchant via a first communication medium, said method comprising: receiving a purchase authentication request message from the merchant at an interchange computer system, the purchase authentication request message associated with the cardholder and the financial transaction; generating a one-time password for the financial transaction at the interchange computer system; transmitting the one-time password to the cardholder via a second communication medium different from the first communication medium; prompting the cardholder, by the interchange computer system, to enter the one-time password; receiving, by the interchange computer system, an entered one-time password from the cardholder via the second communication medium; determining that the entered one-time password is equal to the generated one-time password; and transmitting a positive purchase authentication response message to the merchant indicating a successful authentication of the identity of the cardholder.