SYSTEM AND METHOD FOR IMPLEMENTING VEHICLE-BASED PAYMENT TOKENIZATION

SYSTEM AND METHOD FOR IMPLEMENTING VEHICLE-BASED PAYMENT TOKENIZATION

Systems and methods for implementing vehicle-based payments are disclosed. In one embodiment, in a vehicle-based payment system comprising a payment integration unit that is connected to a mobile electronic device, a method for vehicle-based payments may include: (1) the payment integration unit rec...

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Bibliographische Detailangaben
Hauptverfasser: SHADID, Noor, CHANG, Eric Han Kai, OLIVER, III, John L, WHITE, III, James P, MERCHANT, Saifuddin, MCQUISTON, Daniel D, PERRY, Erin Michelle
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:Systems and methods for implementing vehicle-based payments are disclosed. In one embodiment, in a vehicle-based payment system comprising a payment integration unit that is connected to a mobile electronic device, a method for vehicle-based payments may include: (1) the payment integration unit receiving a confirmation request for a vehicle-based transaction from a third-party; (2) the payment integration unit receiving confirmation of the vehicle-based transaction from a vehicle user; (3) the payment integration unit communicating a payment token request from a financial institution backend to the mobile electronic device, wherein the mobile electronic device communicates the payment token request to the financial institution and receives a payment token from the financial institution; (3) the payment integration unit receiving the payment token from the mobile electronic device; and (4) the payment integration unit communicating the payment token to the third party, wherein the third party conducts the transaction using the payment token.