Systems and methods for payment management for supporting mobile payments
Systems and methods for managing mobile payments is provided. An account issuer provides an application that is loaded onto a mobile device, which enables a consumer to pay for transactions. The mobile payment application generates a unique code. The code is read by the point of sale terminal, which is then provided to the payment management system. The payment management system contracts the account issuer and authenticates the code, thereby receiving a primary account number. Account number and transaction information is used to authorize the transaction via payment systems. The payment system accepts or declines the transaction in a response. Tokens may be generated for the account number, and value added services may be generated based upon user behaviors.
1. A method for payment management of mobile payments, the method comprising:
receiving, by a server of a payment management system connected to an electronic network, a unique code and a merchant ID from a point of sale terminal of a merchant, the unique code encoding a tokenized primary account number and an account issuer payment token, wherein:
the unique code has been generated by a payment application installed in a mobile device of a user, the payment application enabling the user of the mobile device to pay for a transaction; and
the unique code is received from the point of sale terminal of the merchant upon the unique code being presented, by the mobile device of the user, to the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the unique code to a processing device of an account issuer, wherein the unique code is authenticated by the processing device of the account issuer;
receiving, by the server of the payment management system, a primary account number from the processing device of the account issuer, wherein the primary account number has been retrieved from an account database upon successful authentication of the unique code by the processing device of the account issuer;
validating, by the server of the payment management system, the merchant ID against merchant logs;
upon successful validation of the merchant ID, generating, by the server of the payment management system, a transaction token based on the primary account number;
transmitting, by the server of the payment management system, the transaction token to the point of sale terminal of the merchant; and
completing, by the server of the payment management system, a transaction based at least in part on the transaction token that has been received from the point of sale terminal of the merchant.
2. The method of claim 1 , wherein the validating ensures the merchant is configured for tokenization.
3. The method of claim 1 , further comprising:
receiving, by the server of the payment management system, a transaction total from the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the primary account number, the transaction total, and the merchant ID to a payment system;
receiving, by the server of the payment management system, a response from the payment system; and
transmitting, by the server of the payment management system, the response to the point of sale terminal of the merchant.
4. The method of claim 3 , wherein the response is transmitted to the point of sale terminal of the merchant with the transaction token.
5. The method of claim 1 , wherein the transaction token includes the primary account number, an expiration date of the transaction token, and a group ID, wherein the group ID is associated with a plurality of merchants.
6. The method of claim 5 , further comprising:
receiving, by the server of the payment management system, the transaction token from at least one point of sale terminal of the merchant;
validating, by the server of the payment management system, the merchant ID against the merchant logs, wherein the validating ensures the merchant is configured for tokenization;
decrypting, by the server of the payment management system, the transaction token;
comparing, by the server of the payment management system, the group ID with the merchant ID in the merchant logs;
providing, by the server of the payment management system, the primary account number to a payment system;
receiving, by the server of the payment management system, a second response from the payment system; and
transmitting, by the server of the payment management system, the second response to the at least one point of sale terminal of the merchant.
7. The method of claim 1 , wherein the transaction token is one of: a single use token and a recurring token.
8. The method of claim 1 , wherein the transaction token is generated in response to receiving, by the server of the payment management system, a token request from the point of sale terminal of the merchant.
9. A system for payment management of mobile payments, the system comprising:
one or more processors;
a data storage storing instructions which, when executed by the one or more processors, cause the one or more processors to perform steps comprising:
receiving, by a server of a payment management system connected to an electronic network, a unique code and a merchant ID from a point of sale terminal of a merchant, the unique code encoding a tokenized primary account number and an account issuer payment token, wherein:
the unique code has been generated by a payment application installed in a mobile device of a user, the payment application enabling the user of the mobile device to pay for a transaction; and
the unique code is received from the point of sale terminal of the merchant upon the unique code being presented, by the mobile device of the user, to the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the unique code to a processing device of an account issuer, wherein the unique code is authenticated by the processing device of the account issuer;
receiving, by the server of the payment management system, a primary account number from the processing device of the account issuer, wherein the primary account number has been retrieved from an account database upon successful authentication of the unique code by the processing device of the account issuer;
validating, by the server of the payment management system, the merchant ID against merchant logs;
upon successful validation of the merchant ID, generating, by the server of the payment management system, a transaction token based on the primary account number;
transmitting, by the server of the payment management system, the transaction token to the point of sale terminal of the merchant; and
completing, by the server of the payment management system, a transaction based at least in part on the transaction token that has been received from the point of sale terminal of the merchant.
10. The system of claim 9 , wherein the validating ensures the merchant is configured for tokenization.
11. The system of claim 9 , wherein the steps further comprise:
receiving, by the server of the payment management system, a transaction total from the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the primary account number, the transaction total, and the merchant ID to a payment system;
receiving, by the server of the payment management system, a response from the payment system; and
transmitting, by the server of the payment management system, the response to the point of sale terminal of the merchant.
12. The system of claim 11 , wherein the response is transmitted to the point of sale terminal of the merchant with the transaction token.
13. The system of claim 9 , wherein the transaction token includes the primary account number, an expiration date of the transaction token, and a group ID, wherein the group ID is associated with a plurality of merchants.
14. The system of claim 13 , wherein the steps further comprise:
receiving, by the server of the payment management system, the transaction token from at least one point of sale terminal of the merchant;
validating, by the server of the payment management system, the merchant ID against the merchant logs, wherein the validating ensures the merchant is configured for tokenization;
decrypting, by the server of the payment management system, the transaction token;
comparing, by the server of the payment management system, the group ID with the merchant ID in the merchant logs;
providing, by the server of the payment management system, the primary account number to a payment system;
receiving, by the server of the payment management system, a second response from the payment system; and
transmitting, by the server of the payment management system, the second response to the at least one point of sale terminal of the merchant.
15. The system of claim 9 , wherein the transaction token is one of: a single use token and a recurring token.
16. The system of claim 9 , wherein the transaction token is generated in response to receiving, by the server of the payment management system, a token request from the point of sale terminal of the merchant.
17. A non-transitory computer readable medium for payment management of mobile payments, the non-transitory computer readable medium storing instructions which, when executed by one or more processors, cause the one or more processors to perform steps comprising:
receiving, by a server of a payment management system connected to an electronic network, a unique code and a merchant ID from a point of sale terminal of a merchant, the unique code encoding a tokenized primary account number and an account issuer payment token, wherein:
the unique code has been generated by a payment application installed in a mobile device of a user, the payment application enabling the user of the mobile device to pay for a transaction; and
the unique code is received from the point of sale terminal of the merchant upon the unique code being presented, by the mobile device of the user, to the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the unique code to a processing device of an account issuer, wherein the unique code is authenticated by the processing device of the account issuer;
receiving, by the server of the payment management system, a primary account number from the processing device of the account issuer, wherein the primary account number has been retrieved from an account database upon successful authentication of the unique code by the processing device of the account issuer;
validating, by the server of the payment management system, the merchant ID against merchant logs;
upon successful validation of the merchant ID, generating, by the server of the payment management system, a transaction token based on the primary account number;
transmitting, by the server of the payment management system, the transaction token to the point of sale terminal of the merchant; and
completing, by the server of the payment management system, a transaction based at least in part on the transaction token that has been received from the point of sale terminal of the merchant.
18. The non-transitory computer readable medium of claim 17 , wherein the steps further comprise:
receiving, by the server of the payment management system, a transaction total from the point of sale terminal of the merchant;
transmitting, by the server of the payment management system, the primary account number, the transaction total, and the merchant ID to a payment system;
receiving, by the server of the payment management system, a response from the payment system; and
transmitting, by the server of the payment management system, the response to the point of sale terminal of the merchant.
19. The non-transitory computer readable medium of claim 18 , wherein the response is transmitted to the point of sale terminal of the merchant with the transaction token.
20. The non-transitory computer readable medium of claim 17 , wherein the transaction token is generated in response to receiving, by the server of the payment management system, a token request from the point of sale terminal of the merchant.