System and method of a passphrase account identifier for use in a network environment

Abstract

A system and method for facilitating a financial transaction over a network including use of a passphrase account identifier is described herein. In one embodiment, a system for facilitating a financial transaction over a network comprises a communication interface; and a payment provider system configured to receive via the communication interface a passphrase account identifier from a merchant system, match the passphrase account identifier to a corresponding funding instrument number of a corresponding funding instrument, communicate the corresponding funding instrument number to an issuer system, receive from the issuer system a notification indication of one of acceptance of the funding instrument or decline of the funding instrument, and communicate back to the merchant system the notification indication.

What is claimed is: 
     
         1 . A system, comprising:
 an identification database of a payment provider server that stores a plurality of funding instrument identifiers corresponding to a plurality of passphrase identifiers;   a communication interface of the payment provider server that receives a user request over an electronic network to use a passphrase identifier pre-designated for a user account; and   one or more hardware processors of the payment provider server that:
 determines one or more characters of the passphrase identifier; 
 determines a corresponding funding instrument identifier from the plurality of funding instrument identifiers based at least on the one or more characters; 
 determines an authorization to use the funding instrument identifier based at least on a verification of the user request, wherein the authorization indicates an acceptance or a decline to use the funding instrument identifier; and 
 transmits to a remote system a notification based at least on the acceptance or the decline to use the funding instrument identifier, wherein the transmittal causes the notification to be displayed on a graphical user interface (GUI) of a client device in communication with the remote system. 
   
     
     
         2 . The system of  claim 1 , wherein the funding instrument identifier is a credit card number. 
     
     
         3 . The system of  claim 1 , wherein the remote system is a merchant system, and wherein the client device is a merchant device configured to process a purchase for the user account based at least on the notification. 
     
     
         4 . The system of  claim 1 , wherein the remote system comprises a credit issuer system configured to provide an indication of an available amount for the user account based at least on the acceptance or the decline to use the funding instrument number. 
     
     
         5 . The system of  claim 1 , wherein the client device comprises a user device configured to access the user account and modify the passphrase identifier based at least on one character of the one or more characters. 
     
     
         6 . The system of  claim 1 , wherein the client device comprises a merchant device configured to apply the funding instrument identifier to process a transaction for the user account. 
     
     
         7 . The system of  claim 1 , wherein the one or more characters comprise an alpha-numerical combination of characters. 
     
     
         8 . The system of  claim 1 , wherein the one or more characters comprise upper case and lower case characters. 
     
     
         9 . A non-transitory machine-readable medium comprising a plurality of machine-readable instructions that, when executed by one or more hardware processors of a network server, are configured to cause the network server to perform operations comprising:
 receiving a user request over an electronic network to use a passphrase identifier, wherein the passphrase identifier is modifiable for a user account;   determining a corresponding funding instrument identifier from a plurality of funding instrument identifiers based at least on one or more characters of the passphrase identifier;   communicating with a remote system to determine an authorization to use the funding instrument number based on an amount available associated with the funding instrument number, wherein the authorization indicates an acceptance or a decline to use the funding instrument identifier; and   transmitting a notification to the remote system based at least on the acceptance or the decline to use the funding instrument identifier, wherein the transmitting causes the notification to be displayed on a graphical user interface (GUI) of a client device in communication with the remote system.   
     
     
         10 . The non-transitory machine-readable medium of  claim 9 , wherein the remote system comprises a credit issuer system configured to determine the amount available associated with the funding instrument number, and wherein the client device comprises a merchant device configured to process a purchase for the user account with at least a portion of the amount available. 
     
     
         11 . The non-transitory machine-readable medium of  claim 9 , wherein the remote system comprises a credit issuer system configured to provide the available amount to the user account based at least on the acceptance or the decline to use the funding instrument number. 
     
     
         12 . The non-transitory machine-readable medium of  claim 9 , wherein the client device comprises a user device configured to access the user account and modify the passphrase identifier based on at least one character of the one or more characters. 
     
     
         13 . The non-transitory machine-readable medium of  claim 9 , wherein the client device comprises a merchant device configured to use the funding instrument identifier to process a transaction for the user account. 
     
     
         14 . The non-transitory machine-readable medium of  claim 9 , wherein the one or more characters comprise an alpha-numerical combination of characters. 
     
     
         15 . The non-transitory machine-readable medium of  claim 9 , wherein the one or more characters comprise upper case and lower case characters. 
     
     
         16 . A method, comprising:
 maintaining, by a network server, a plurality of funding instrument identifiers that correspond to a plurality of passphrase identifiers;   receiving, by a communication interface of a network server, a user request generated by a user device, wherein the user request includes a passphrase identifier; and   determining, by a hardware processor of the network server, a corresponding funding instrument identifier from a plurality of funding instrument identifiers corresponding to a plurality of passphrase identifiers based at least on one or more characters of the passphrase identifier;   determining, by the hardware processor, an authorization to use the funding instrument identifier based at least on the user request, wherein the authorization indicates an acceptance or a decline to use the funding instrument identifier; and   transmitting, by the communication interface, a notification to a remote system based at least on the acceptance or the decline to use the funding instrument identifier, wherein the transmitting causes the notification to be displayed on a graphical user interface (GUI) of the user device in communication with the remote system.   
     
     
         17 . The method of  claim 16 , wherein the remote system comprises a merchant system, the method further comprising processing a purchase with the merchant system based at least on the acceptance to use the funding instrument identifier. 
     
     
         18 . The method of  claim 16 , wherein the remote system comprises a credit issuer system configured to determine an amount available for the user account to process a transaction, the method further comprising:
 communicating with the credit issuer system to deteiniine an indication of the amount available to the user account based at least on the acceptance to use the funding instrument number; and   transmitting the indication of the amount available to the user device.   
     
     
         19 . The method of  claim 16 , further comprising modifying at least one character of the one or more characters based on a user input received by the GUI interface. 
     
     
         20 . The method of  claim 16 , wherein the one or more characters comprises an alpha-numerical combination of characters, and wherein the one or more characters comprises upper case and lower case characters.