System and method for enhanced token-based payments

Abstract

A system and method for enhanced token-based payments. The system and method including software and hardware to receive, via a network, a request for authorization; create, in response to the request, a dynamic payment packet (DPP) for payment; transmit, via a network, the DPP; receive, via a network, an authorization request, the DPP, and a transaction ID; receive at least one additional data element relating to the customer involved in the transaction and the transaction itself; and transmit, via a network, the transaction ID, an authorization response, and token.

What is claimed is: 
     
         1 . A method for software-based contactless payment, comprising:
 receiving, at an issuer system and from a mobile device, a request to authorize a transaction payment to a merchant;   responsive to the request to authorize the transaction payment, transmitting, by the issuer system to the mobile device via a network, a dynamic payment packet (DPP) comprising a token;   receiving, at the issuer system and from the merchant, an authorization request including a transaction identification and the DPP;   transmitting, by the issuer system, the DPP to a third-party system to obtain offer data;   receiving, at the issuer system, offer data from the third-party system;   determining, by the issuer system, an authorization response;   transmitting, by the issuer system to the merchant, a first authorization response, a transaction identifier, and account data associated with the transaction; and   transmitting, by the issuer system to the mobile device, the transaction identifier, and the offer data.   
     
     
         2 . The method of  claim 1 , further comprising receiving at the issuer system, an indication from the merchant confirming transfer of the token from the mobile device to the merchant via a point of sale device. 
     
     
         3 . The method of  claim 2 , wherein the authorization response is determined based at least in part on the indication. 
     
     
         4 . The method of  claim 1 , wherein the DPP includes and additional data element comprising customer creditworthiness information. 
     
     
         5 . The method of  claim 4 , wherein the offer data received from the third-party system is based at least in part on the customer creditworthiness information. 
     
     
         6 . The method of  claim 1 , wherein the token is a single-use token. 
     
     
         7 . The method of  claim 1 , wherein the authorization response is determined based at least in part on the offer data. 
     
     
         8 . The method of  claim 1 , wherein the authorization response is determined based on whether the DPP complies with one or more parameters comprising transaction limits, use limits, and time limits. 
     
     
         9 . The method of  claim 1 , wherein the offer data comprises one or more of real-time financing options related to the payment of the transaction and cross-selling of lending products. 
     
     
         10 . The method of  claim 1 , wherein the DPP is received at the issuer system as track data in a credit card transaction. 
     
     
         11 . The method of  claim 1 , wherein the DPP further comprises an identifier associated with the mobile device, wherein the authorization response is further determined based on the identifier. 
     
     
         12 . A system, comprising:
 a processor; and   memory storing computer readable instructions that when executed by the processor, causes the processor to perform the method of:
 receiving, at an issuer system and from a mobile device, a request to authorize a transaction payment to a merchant; 
 transmitting, by the issuer system to the mobile device via a network and responsive to the request to authorize the transaction, a dynamic payment packet (DPP) comprising a token; 
 receiving, at the issuer system and from the merchant, an authorization request including a transaction identification and the DPP and that includes the token; 
 transmitting, by the issuer system, the DPP to a third-party system to obtain offer data; 
 receiving, at the issue system, offer data from the third-party system; 
 determining, by the processor, an authorization response based at least in part on the offer data; 
 transmitting, by the issuer system to the merchant, a first authorization response, a transaction identifier, and account data associated with the transaction; and 
 transmitting, by the issuer system to the mobile device, the transaction identifier, and the offer data. 
   
     
     
         13 . The system of  claim 12 , further comprising a database that stores a list of provided tokens, and wherein the authorization response is based on a comparison of the token to the list of provided tokens. 
     
     
         14 . The system of  claim 12 , wherein the DPP includes an additional data element comprising customer creditworthiness information, wherein the offer data received from the third-party system is based on the customer creditworthiness information. 
     
     
         15 . The system of  claim 12 , wherein in the DPP includes an additional data element comprising customer profile information, wherein the offer data includes a targeted offer based on the customer profile information. 
     
     
         16 . The system of  claim 12 , wherein in the DPP includes an additional data element comprising reward point credentials, and wherein the offer data includes an offer to pay with rewards points. 
     
     
         17 . The system of  claim 12 , wherein the computer readable instructions that when executed by the processor, causes the processor to receive at the issuer system, an indication from the merchant that the token was transferred from the mobile device to the merchant via a point of sale device, wherein the authorization response is determined based on the indication. 
     
     
         18 . The system of  claim 12 , wherein the authorization response is determined based on whether the DPP complies with one or more parameters comprising transaction limits, use limits, and time limits. 
     
     
         19 . The system of  claim 12 , wherein the offer data comprises one or more of: real-time financing options related to the payment authorization, and cross-selling of lending products. 
     
     
         20 . The system of  claim 12 , wherein the DPP further comprises an identifier associated with the mobile device, wherein the authorization response is further determined based on the identifier.