Systems and methods for processing transactions using a wallet

The invention provides a wallet vault, in the form of a tangibly embodied processing machine, disposed in communication with a financial payment network, the wallet vault comprising a communication portion that inputs and outputs information and a processing portion. The processing portion may perfo...

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Bibliographische Detailangaben
Hauptverfasser: OUELLETTE SCOTT HOLLIS, ALLEN SHERRY ANN, D'AGOSTINO VINCENT R, TAMASSIA HUGH, STANISH JOSEPH WILLIAM, SPECTOR HOWARD, POSWOLSKY DAN, SMYTH BRIAN, GREWAL REETIKA, MAHY RUSS
Format: Patent
Sprache:eng
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Beschreibung
Zusammenfassung:The invention provides a wallet vault, in the form of a tangibly embodied processing machine, disposed in communication with a financial payment network, the wallet vault comprising a communication portion that inputs and outputs information and a processing portion. The processing portion may perform processing including storing token information of a customer and real credentials of the customer, the token information associated with the real credentials of the customer, the real credentials constituted by an account number of the customer; inputting the token information with transaction ID information from a processing entity in the financial network, the token information with transaction ID information generated by a merchant processing a transaction for the customer; associating the token information of the customer with the real credentials of the customer; and outputting the associated real credentials with the transaction ID information to the processing entity in the financial network. The wallet vault may be associated with a wallet from which the transaction is initiated, and the wallet associated with the merchant.