SYSTEM AND METHOD FOR EXCHANGING DATA WITH SMART CARDS
A system that includes an issuer system that receives, via a network, registration information from a mobile device, wherein the issuer system is associated with a financial institution that issues a smart card to a user and wherein the registration information includes an identifier of the mobile device, and a mobile device application associated with the issuer system, that when executed on a mobile device, communicates with the issuer system to validate the mobile device as a trusted device and enables the trusted device to communicate with the smart card and enable smart card management features mobile device application.
1 . A non-transitory, computer-readable medium storing instructions that, when executed by a processor of a mobile device, cause the processor to perform a method of transaction authentication comprising:
receiving a verification request from an issuer system, the verification request corresponding to a requested transaction associated with a financial account of a customer, the financial account associated with a smart card;
receiving an authentication factor inputted by the customer to the mobile device;
communicating with the smart card to compare the authentication factor with a stored authentication factor stored on the smart card;
based on a comparison of the received authentication factor and the stored authentication factor, creating instructions indicating whether the requested transaction is verified by the customer; and
outputting for transmission the instructions to the issuer system.
2 . The non-transitory, computer-readable medium of claim 1 , wherein the received authentication factor comprises secret information.
3 . The non-transitory, computer-readable medium of claim 2 , where the secret information is a personal identification number (PIN).
4 . The non-transitory, computer-readable medium of claim 1 , wherein the received authentication factor and the stored authentication factor each comprise biometric information associated with the customer.
5 . The non-transitory, computer-readable medium of claim 1 , wherein the instructions, when executed by the processor of the mobile device, cause the processor to perform a method further comprising:
receiving the stored authentication factor from the smart card; and
comparing the received authentication factor to the stored authentication factor.
6 . The non-transitory, computer-readable medium of claim 5 , wherein receiving the stored authentication factor comprises reading the stored authentication factor from the smart card.
7 . The non-transitory, computer-readable medium of claim 1 , wherein the instructions, when executed by the processor of the mobile device, cause the processor to perform a method further comprising:
displaying, via a screen of the mobile device, a prompt requesting that the customer initiate communication between the mobile device and the smart card.
8 . The non-transitory, computer-readable medium of claim 7 , wherein initiating communication between the mobile device and the smart card comprises touching the smart card to the mobile device.
9 . The non-transitory, computer-readable medium of claim 7 , wherein initiating communication between the mobile device and the smart card comprises moving the smart card toward the mobile device.
10 . The non-transitory, computer-readable medium of claim 1 , wherein the requested transaction is a card-not-present transaction request.
11 . The non-transitory, computer-readable medium of claim 10 , wherein the requested transaction is an online transaction.
12 . A method for authorizing a payment, the method comprising:
receiving a payment authorization request from a merchant, the payment authorization request corresponding to a requested transaction and comprising an account identifier associated with a financial account of a customer, the financial account having a smart card associated therewith;
transmitting a verification request to a mobile device associated with the customer, the verification request comprising:
a prompt for a card application installed on the mobile device to communicate with the smart card to receive an authentication factor associated with the smart card;
receiving verification of the requested transaction from the mobile device based on the received authentication factor; and
approving or denying the transaction based on the received verification by transmitting an authorization signal to the merchant.
13 . The method of claim 12 , wherein the authentication factor comprises secret information.
14 . The method of claim 13 , wherein the secret information is a personal identification number (PIN).
15 . The method of claim 12 , wherein the authentication factor and the stored authentication factor each comprise biometric information associated with the customer.
16 . The method of claim 12 , wherein the requested transaction is a card-not-present transaction request.
17 . The method of claim 16 , wherein the requested transaction is an online transaction.
18 . The method of claim 12 , wherein the authentication factor is stored on the smart card.