Patent ID: 8793184
Filing Date: 2014-07-29
Classification: G06Q

Abstract:
1. A wireless financial transaction system comprising: a server executing a software product to provide a financial transaction Web service; and a Web enabled thick client being operated by a merchant and, at least: being served the financial transaction Web service in wireless communications with the server; and executing a software product to conduct a financial transaction in collaboration with the financial transaction Web service, wherein the financial transaction, at least: is conducted by a consumer with the merchant upon an account previously issued by an issuer to the consumer and having a balance maintained by the issuer; and is conducted using a consumer wireless client corresponding to a wireless telephone associated with a telephone number, operated by the consumer in proximity to the thick client and executing an application at least reducing a security risk with respect to account balance modifications that are not authorized by the consumer at least in part by configuring the consumer wireless client to, at least: receive, by the consumer wireless client, a challenge code generated by the merchant based at least in part on the telephone number, the merchant being different from an entity responsible for approving or declining the financial transaction; generate, by the consumer wireless client, a response code based at least in part on the challenge code, the response code being different from the challenge code; and present, by the consumer wireless client, the response code to the consumer for entry in response to the challenge code generated by the merchant, wherein the configuration of the consumer wireless client by the application at least in part thereby enables the financial transaction between the consumer and the merchant without the consumer providing the merchant with an account number of the account previously issued by the issuer; and wherein a transaction handler or payment processor operates one or more processors to execute software to perform steps that include: receiving, from an acquirer for the merchant, an authorization request for the financial transaction; sending, to the issuer, the authorization request; receiving, in response to the authorization request, an authorization response based at least in part on the balance of the account and the response code generated by the consumer wireless client; and sending, to the acquirer for delivery to the merchant, the authorization response.