Method of making secure electronic payments using communications devices and biometric data
View Patent ↗Methods and systems for carrying out financial transactions include creating unique aliases for payment instrument having associated identification numbers, associating the created aliases to the payment instruments and enabling consumer use of the aliases to carry out financial transactions. Various special point-of-sale devices may be employed to carry out the financial transactions.
1. A method of carrying out a financial transaction, comprising the steps of:
aliasing, by the issuer computer, a telephone number of a consumer to a payment instrument of the consumer;
assigning, by the issuer computer, a transaction phone number, a card comprising an identification number and a proxy device to an ID of a merchant wherein assigning the proxy device to an ID of a merchant further comprises mapping the ID of the merchant to an address and a phone number of the proxy device;
receiving, by the proxy device, via a call from a mobile device of the consumer via the transaction phone number, a PIN;
identifying, by the proxy device, using the call, a telephone number of the consumer and transmitting, by the proxy device, payment data comprising the identified telephone number of the consumer, the PIN and the proxy device address to the issuer computer;
identifying, by the issuer computer, the ID of the merchant using the transmitted proxy device address;
generating, by the issuer computer, a record in a database comprising the ID of the merchant and the payment data;
receiving, by the issuer computer, from a POS of the merchant, a transaction request comprising a payment amount, the ID of the merchant, and the identification number;
determining, by the issuer computer, using the identification number from the POS that the call is made by phone and based on that determination:
identifying, by the issuer computer, the record using the ID of the merchant received from the POS;
retrieving, by the issuer computer, the telephone number and PIN from the record;
retrieving, by the issuer computer, the payment instrument using the telephone number from the record;
processing the transaction request, by the issuer computer, using the retrieved PIN and payment instrument, and
deleting, by the issuer computer, the record from the database.