Systems and Methods for Secure Authentication of Online Transactions Using Tokens

Abstract

Methods and systems are provided for secure payment using tokens. Consistent with disclosed embodiments, a token may be used to authenticate a transaction. The token may include token information configured to replace at least a portion of static information required to authenticate a transaction. A financial services system may provide the token to a digital wallet. The digital wallet may communicate the token to a payment application. A user-associated device may implement the digital wallet and a payment device may implement the payment application. The payment application may provide the token information to a merchant system. The merchant system may provide the token information to the financial services system. The financial services system may authenticate the transaction using the token information received from the merchant system. The disclosed methods may further include determining the proximity of the user-associated device and the payment device to authenticate the request for secure payment.

What is claimed is: 
     
         1 . A method for authenticating electronic financial transactions by a digital wallet using a token, comprising:
 receiving, by a digital wallet from a payment application, a request for secure payment using a financial services account;   communicating, by the digital wallet to a financial services system associated with the financial services account, the request for secure payment;   receiving, by the digital wallet from the financial services system, a single-use token generated by the financial services system, in response to the request for secure payment, corresponding to the request for secure payment and comprising token information configured to replace at least a portion of static information identifying the financial services account; and   communicating, by the digital wallet to the payment application, the single-use token to effectuate secure payment.   
     
     
         2 . The method of  claim 1 , wherein the replaced static information comprises one or more of account holder information or account information. 
     
     
         3 . The method of  claim 2 , wherein the account holder information comprises one or more of an account holder name, a shipping address, or a billing address. 
     
     
         4 . The method of  claim 2 , wherein the account information comprises one or more of account number, a security code, or an expiration date. 
     
     
         5 . The method of  claim 4 , wherein the account number comprises a credit card number. 
     
     
         6 . The method of  claim 1 , wherein a user-associated device implements the digital wallet and a payment device implements the payment application. 
     
     
         7 . The method of  claim 6 , wherein the user-associated device is a mobile device. 
     
     
         8 . The method of  claim 7 , wherein the mobile device comprises a mobile phone, laptop computer, tablet computer, or wearable computer. 
     
     
         9 . The method of  claim 6 , wherein the payment device comprises a personal computer and the payment application comprises a web browser plugin. 
     
     
         10 . The method of  claim 6 , wherein the payment device comprises a POS terminal. 
     
     
         11 . The method of  claim 6 , further comprising determining the proximity of the user-associated device and the payment device to authenticate the request for secure payment. 
     
     
         12 . The method of  claim 11 , wherein determining the proximity of the user-associated device and the payment device comprises determining that a short-range network connects the user-associated device and the payment device. 
     
     
         13 . The method of  claim 12 , wherein the short-range network comprises a local area network, a personal area network, a near field network, or a computer bus. 
     
     
         14 . The method of  claim 12 , wherein the short-range network is wireless. 
     
     
         15 . The method of  claim 12 , wherein the short-range network comprises a Bluetooth link. 
     
     
         16 . The method of  claim 11 , wherein determining the proximity of the user-associated device and the payment device comprises determining a geographic location of one or more of the user-associated device or the payment device. 
     
     
         17 . The method of  claim 16 , wherein the determination of a geographic location depends on GPS information. 
     
     
         18 . The method of  claim 16 , wherein the determination of a geographic location depends on cellular network information. 
     
     
         19 . The method of  claim 16 , wherein the determination of a geographic location depends on IP address information. 
     
     
         20 . The method of  claim 16 , wherein a combined device implements the digital wallet and the payment application. 
     
     
         21 . The method of  claim 20 , wherein the combined device is a mobile device. 
     
     
         22 . The method of  claim 21 , wherein the mobile device comprises a mobile phone, laptop computer, tablet computer, or wearable computer.