EP1374109A1 - Electronic settlement method using credit card with cardholders subsidiary credit accounts - Google Patents
Electronic settlement method using credit card with cardholders subsidiary credit accountsInfo
- Publication number
- EP1374109A1 EP1374109A1 EP01910146A EP01910146A EP1374109A1 EP 1374109 A1 EP1374109 A1 EP 1374109A1 EP 01910146 A EP01910146 A EP 01910146A EP 01910146 A EP01910146 A EP 01910146A EP 1374109 A1 EP1374109 A1 EP 1374109A1
- Authority
- EP
- European Patent Office
- Prior art keywords
- credit
- cardholder
- subsidiary
- credit card
- accounts
- Prior art date
- Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
- Withdrawn
Links
Classifications
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/04—Payment circuits
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/38—Payment protocols; Details thereof
- G06Q20/385—Payment protocols; Details thereof using an alias or single-use codes
Definitions
- the present invention relates in general to an electronic settlement method using a credit card with cardholder's subsidiary credit accounts, and more particularly to such a method in which a cardholder assigns to his credit card a plurality of subsidiary credit accounts with different conditions and amount limits for use according to his intention and selectively uses the assigned subsidiary credit accounts according to using purposes, thereby preventing the credit card from being illegally misused and enhancing the security of the credit card in use.
- a conventional verification process is performed only between a credit card company and a vendor.
- a cardholder' s credit card may be illegally misused up to the maximum limit of a granted amount with no recognition of a cardholder, resulting in damage to the cardholder .
- the present invention has been made in view of the above problems, and it is an object of the present invention to provide an electronic settlement method using a credit card with a plurality of cardholder's subsidiary credit accounts, in which a cardholder assigns the plurality of subsidiary credit accounts to his credit card in conjunction with his original credit card number and account, determines conditions for use associated with the assigned subsidiary credit accounts, respectively, and uses the subsidiary credit accounts for a variety of purchasing purposes such as electronic commerce under the determined conditions, thereby resolving uneasiness in the card use.
- an electronic settlement method using a credit card with a plurality of cardholder's subsidiary credit accounts comprising the first step of allowing a cardholder to connect to a credit card company using a computer and partition credit provided from the card company to create the plurality of subsidiary credit accounts in conjunction with his original credit card number; the second step of allowing the cardholder to perform credit line transaction using a desired one of the subsidiary credit accounts to purchase goods or service from an electronic commerce site via a communication network; and the third step of settling the desired subsidiary credit account for the payment for the purchasing goods or service through a verification process between the credit card company and a vendor managing the electronic commerce site.
- the above first step includes the step of allowing the cardholder to assign using conditions to each of the subsidiary credit accounts, the using conditions including the number of using times, the limit of using amount and the terms of payment.
- the above third step includes the step of, after the verification process is performed between the credit card company and the vendor, performing a self- verification operation where the credit card company requests the cardholder to confirm the contents used by him.
- Fig. 1 is a view illustrating a procedure of using a general credit card
- Fig. 2 is a flowchart illustrating an electronic settlement method using a credit card with a plurality of cardholder' s subsidiary credit accounts in accordance with the present invention
- Fig. 3 is a view showing the appearance of a credit card in accordance with the present invention
- Fig. 4 is a view showing an architecture for creating a plurality of cardholder' s subsidiary credit accounts in accordance with the present invention
- Fig. 5 is a flowchart illustrating the step of creating a plurality of cardholder' s subsidiary credit accounts in accordance with the present invention
- Fig. 6 is a flowchart illustrating the operation of a cardholder' s subsidiary credit account assigned for a single payment in accordance with the present invention
- Fig. 7 is a flowchart illustrating the operation of a cardholder' s subsidiary credit account with the maximum limit assigned by a cardholder in accordance with the present invention
- Fig. 8 is a flowchart illustrating the operation of a cardholder' s subsidiary credit account with the issuance of a second credit card in accordance with the present invention
- Fig. 9 is a flowchart illustrating a self-verification process in accordance with the present invention.
- Fig. 1 is a view illustrating a procedure of using a general credit card
- Fig. 2 is a flowchart illustrating an electronic settlement method using a credit card with a plurality of cardholder' s subsidiary credit accounts in accordance with the present invention.
- cardholder' s subsidiary credit accounts can be assigned with various conditions for use according to using purposes.
- a cardholder' s subsidiary credit account may be designated with an amount limit matched with a price of goods to be purchased, so that it can be used only once.
- Such a cardholder' s subsidiary credit account may be recharged to the amount limit so that it can be used several times .
- such a cardholder' s subsidiary credit account may be assigned with an associated credit number for use in electronic commerce or a new card with such a subsidiary credit account can be issued to a junior or senior to transfer that credit account thereto.
- a consumer, or cardholder, 3 is first issued with a credit card from a credit card company 1 at step SI and then connects and logs on to the card company 1 through an Internet homepage, online service, telephone, etc. using his own personal computer.
- the cardholder 3 partitions credit provided from the credit card company 1 to create a plurality of subsidiary credit accounts in conjunction with his original credit card number at step S2. At this time, each of the cardholder's subsidiary credit accounts may be provided with a plurality of slave accounts .
- the cardholder 3 can create the subsidiary credit accounts at a desired time using his own personal computer after being issued with the credit card from the credit card company 1.
- the cardholder 3 may create the subsidiary credit accounts at the initial step of being issued with the credit card from the credit card company 1.
- credit numbers assigned thereto are marked on a detachable label on the credit card in addition to that the original credit card number is embossed on the credit card.
- the cardholder 3 assigns using conditions such as the number of using times, the limit of using amount and the terms of payment to each of the created subsidiary credit accounts at step S3. For example, in the case where the cardholder 3 intends to purchase specific goods through electronic commerce, he may limit the number of times to use a newly created specific subsidiary credit account to once and assign only an amount needed for the goods purchase to the specific subsidiary credit account. Further, the cardholder 3 may change the using conditions assigned to the specific subsidiary credit account if necessary. The cardholder 3 may preferably recharge the specific subsidiary credit account to reuse its number when it has been used to the assigned amount limit by the limited number of times. This has the effect of solving the trouble of repeating the creation of a new number.
- the vendor 2 connects to the credit card company 1 to perform a verification process for that subsidiary credit account at step S5.
- the credit card company 1 notifies the cardholder 3 of such a situation. Then, the credit card company 1 checks whether the cardholder 3 will modify the amount limit of the specific subsidiary credit account and allows the cardholder 3 to resume the electronic commerce with the specific subsidiary credit account in accordance with the checked result.
- a self-verification step can be introduced where the credit card company 1 allows the cardholder 3 to check whether used items of the specific subsidiary credit account are correct. At this time, if any of the used items are not correct, the cardholder 3 requests the card company 1 to suspend the use and settlement of the specific subsidiary credit account.
- the credit card company 1 settles the specific subsidiary credit account with the vendor 2 and demands payment for that account from the cardholder 3 at step S6.
- the cardholder 3 can purchase desired goods with the subsidiary credit accounts through the electronic commerce without offering his original credit card number, and the subsidiary credit accounts cannot be misused by unauthorized persons due to their using conditions even if they are hacked. Even though the subsidiary credit accounts can be misused by unauthorized persons, the useable amount is limited to such a tolerable amount for the cardholder 3 as to minimize mental and material damage to the cardholder 3. Consequently, the cardholder 3 has nothing to worry about damage due to the hacking of his original credit card number, resulting in the promotion of the electronic commerce being activated.
- the cardholder' s subsidiary credit accounts have been disclosed to be applied to the electronic commerce as an example, they may be used in direct connection with vendors similarly to general cards . Further, the cardholder 3 may issue a new card with such a subsidiary credit account to a junior or senior. In this case, the junior or senior can use the issued card freely within the range of a given amount limit.
- the present credit card may be used as a traffic card for urban buses or subway.
- the present credit card is frequently used with worry to be lost, it is preferable to repeatedly charge and use the credit card with small amounts of credit.
- the original credit card number may not be marked on the present credit card so that it can be prevented from outflow.
- the present invention can minimize the illegal misuse of credit cards on the electronic commerce and resolve the uneasiness of cardholders.
- new subcards with the above-mentioned subsidiary credit accounts can be issued to serve as debit cards or electronic currency.
- credit cards with the above-mentioned subsidiary credit accounts can be issued even to juniors or seniors. In this case, protectors can check the contents used by the juniors or seniors.
- Fig. 4 is a view showing an architecture for creating a plurality of cardholder' s subsidiary credit accounts (CSCAs) in accordance with the present invention.
- the reference numeral ® denotes a control credit account (CCA) which is offered from the credit card company 1 to the cardholder 3 and ⁇ denotes a plurality of CSCAs.
- CCA control credit account
- ⁇ denotes a plurality of CSCAs.
- the cardholder 3 transfers a portion of credit from the CCA within the range of credit limit to each of the CSCAs.
- the CCA and CSCAs are calculated in terms of amounts and the total credit of the CSCAs cannot exceed the credit limit of the CCA.
- Such credit line transaction of transferring portions of credit from the CCA respectively to the CSCAs can be made through Internet or telephone as indicated by the reference
- the cardholder 3 can order purchasing goods or service from the vendor 2 directly with the conventional credit card number as indicated by the reference numeral ® or with a CSCA number through the electronic commerce as
- a verification process is performed through a payment gate/value added network as indicated by the reference
- the cardholder 3 can use a CSCA number and verify settlement by himself through a self-verification process by Internet or telephone as indicated by the reference numeral
- the reference numerals ®, @, ® and @ indicate examples of CSCAs creatable in the present invention.
- the reference numeral ® indicates a first CSCA Subl used for a single electronic payment, (D indicates a second CSCA Sub2 used for multiple payments with a limited amount, indicates a third CSCA Sub3 used for issuing a second credit card to a junior or senior and ⁇ indicates the third CSCA Sub3 used for electronic currency such as cybermoney.
- Fig. 5 is a flowchart illustrating the step of creating a plurality of cardholder' s subsidiary credit accounts (CSCAs) in accordance with the present invention.
- the cardholder 3 connects and logs on to the credit card company 1 through an Internet homepage, online service, telephone, etc. At this time, the logging-on operation is performed through password and security processes. Then, the cardholder 3 is newly issued with a CSCA from the credit card company 1 and performs user registration to the card company 1 when the issued CSCA is an initial one. Subsequently, the cardholder 3 determines whether a number of the initial CSCA was previously issued from the credit card company 1. If the initial CSCA number was not previously issued from the credit card company 1, then the cardholder 3 informs the card company 1 to issue the initial CSCA number.
- one or more CSCAs can be issued.
- the cardholder 3 can assign passwords respectively to numbers of the issued CSCAs, select a desired one of the CSCA numbers and log on with the selected CSCA number.
- the cardholder 3 After performing the user registration, the cardholder 3 first initiates a user log-on process and then a CSCA logon process. In the case where an issued CSCA number is an initial one, the cardholder 3 determines what type of a CSCA to be used and then uses the CSCA number as it is or discards it and creates a new CSCA number.
- the cardholder 3 can select a variety of options such as automatic payment and new creation of a second card. After creating a new CSCA, the cardholder 3 logs on with the created CSCA and creates additional CSCAs or transfers a portion of credit from the CCA to the new CSCA.
- Fig. 6 is a flowchart illustrating the operation of the first CSCA Subl assigned for a single payment in accordance with the present invention.
- the first CSCA Subl is an account to which a portion of credit is transferred from the CCA at each purchasing activity. Practically, the cardholder 3 transfers the same amount as a price of purchasing goods or service to the first CSCA Subl and no balance thus remains in the first CSCA Subl after each purchasing activity. As a result, no settlement can be made if hackers intrude and attempt to use the first CSCA Subl number.
- the cardholder 3 can confirm the previously used contents from a database associated with the first CSCA Subl and pay a proper amount on the first CSCA Subl at each purchasing activity. Alternatively, settlements can offer payments with time conditions . When vendors do not withdraw within a certain period of time-dates, the amount of credit allocated to the CSCA Sub 1 will be transferred to the CCA.
- Fig. 7 is a flowchart illustrating the operation of the second CSCA Sub2 with the maximum limit assigned by the cardholder 3 in accordance with the present invention.
- the cardholder 3 determines whether the maximum limit has been assigned to the second CSCA Sub 2. If the maximum limit has not been assigned to the second CSCA Sub 2, the cardholder 3 newly assigns the maximum limit thereto. In the case where the maximum limit has been assigned to the second CSCA Sub 2, the cardholder 3 retrieves the contents of transactions and balance from a database associated with the second CSCA Sub2. The cardholder 3 can designate a new limit if necessary. When a small amount of balance is present in the second CSCA Sub2, a portion of credit can be transferred from the CCA to the second CSCA Sub2 so that an additional amount can be recharged to the limit.
- the assigned maximum limit is set to an amount tolerable by the cardholder 3 even though the second CSCA Sub2 could possibly be misused.
- Fig. 8 is a flowchart illustrating the operation of the third CSCA Sub3 with the issuance of the second credit card in accordance with the present invention.
- the second credit card with the third CSCA Sub3 is shown to be issued to a junior or senior.
- This second credit card can be used in the same manner as conventional credit cards .
- a small amount of credit is transferred from the CCA to the third CSCA Sub3, and it is considered to be an amount tolerable by the cardholder 3 even though the third CSCA Sub3 could possibly be misused.
- the management of an account record and the recharge are made in the same manner as in Fig . 7.
- Fig. 9 is a flowchart illustrating the self- verification process in accordance with the present invention.
- the cardholder 3 can select a variety of options for payments using the CSCAs whenever the electronic commerce occurs. In the case of using the first CSCA Subl, automatic payment will be made when vendors request exact amounts . In the case of using the second CSCA Sub2, when the balance is less than the amounts requested for payment by vendors, settlements will be refused. In this situation, the cardholder 3 can inquire about the balance in the second CSCA Sub2 and transfer a portion of credit from the CCA to the second CSCA Sub2 to recharge it with a deficit.
- payment can be made in a lump sum or divided on a monthly basis.
- a cardholder assigns a plurality of subsidiary credit accounts to his credit card in conjunction with his original credit card number and account and determines conditions for use associated with the assigned subsidiary credit accounts, respectively. Then, the cardholder uses the subsidiary credit accounts for a variety of purchasing purposes such as electronic commerce under the determined conditions, thereby resolving uneasiness in the card use. Further, self-verification by the cardholder for payment can be made at each time of electronic commerce, thereby enhancing the security of payment by the credit card. Therefore, the present invention can contribute to the greater development of the credit card industry.
Abstract
Description
Claims
Applications Claiming Priority (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
PCT/KR2001/000273 WO2002069218A1 (en) | 2001-02-23 | 2001-02-23 | Electronic settlement method using credit card with cardholder's subsidiary credit accounts |
Publications (2)
Publication Number | Publication Date |
---|---|
EP1374109A1 true EP1374109A1 (en) | 2004-01-02 |
EP1374109A4 EP1374109A4 (en) | 2004-09-15 |
Family
ID=19198347
Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
EP01910146A Withdrawn EP1374109A4 (en) | 2001-02-23 | 2001-02-23 | Electronic settlement method using credit card with cardholders subsidiary credit accounts |
Country Status (3)
Country | Link |
---|---|
EP (1) | EP1374109A4 (en) |
AU (1) | AU2001237727A1 (en) |
WO (1) | WO2002069218A1 (en) |
Citations (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US5953710A (en) * | 1996-10-09 | 1999-09-14 | Fleming; Stephen S. | Children's credit or debit card system |
WO2000049586A1 (en) * | 1999-02-18 | 2000-08-24 | Orbis Patents Limited | Credit card system and method |
US6163771A (en) * | 1997-08-28 | 2000-12-19 | Walker Digital, Llc | Method and device for generating a single-use financial account number |
Family Cites Families (6)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US5963924A (en) * | 1996-04-26 | 1999-10-05 | Verifone, Inc. | System, method and article of manufacture for the use of payment instrument holders and payment instruments in network electronic commerce |
US6095416A (en) * | 1998-02-24 | 2000-08-01 | Privicom, Inc. | Method and device for preventing unauthorized use of credit cards |
KR20000072682A (en) * | 2000-09-19 | 2000-12-05 | 권도균 | System and method for issuing and paymenting virtual card based on certification |
KR20000072822A (en) * | 2000-09-29 | 2000-12-05 | 기승철 | Dual card issuing method divided into primary credit card and secondary credit card and payment method of electronic commerce on the Internet using the same. |
KR20010000518A (en) * | 2000-10-04 | 2001-01-05 | 기승철 | Cash dispenser system using main account and sub account, and payment method of ec using the same |
KR20010000616A (en) * | 2000-10-09 | 2001-01-05 | 기승철 | Communication network account transfer system that uses main settlement account and multiple supplementary settlement accounts and payment settlement method that uses above system |
-
2001
- 2001-02-23 AU AU2001237727A patent/AU2001237727A1/en not_active Abandoned
- 2001-02-23 EP EP01910146A patent/EP1374109A4/en not_active Withdrawn
- 2001-02-23 WO PCT/KR2001/000273 patent/WO2002069218A1/en not_active Application Discontinuation
Patent Citations (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US5953710A (en) * | 1996-10-09 | 1999-09-14 | Fleming; Stephen S. | Children's credit or debit card system |
US6163771A (en) * | 1997-08-28 | 2000-12-19 | Walker Digital, Llc | Method and device for generating a single-use financial account number |
WO2000049586A1 (en) * | 1999-02-18 | 2000-08-24 | Orbis Patents Limited | Credit card system and method |
Non-Patent Citations (1)
Title |
---|
See also references of WO02069218A1 * |
Also Published As
Publication number | Publication date |
---|---|
WO2002069218A1 (en) | 2002-09-06 |
EP1374109A4 (en) | 2004-09-15 |
AU2001237727A1 (en) | 2002-09-12 |
Similar Documents
Publication | Publication Date | Title |
---|---|---|
CN101299255B (en) | Online transaction processing system | |
US8924299B2 (en) | Method and system for facilitating payment transactions using access devices | |
US8244636B2 (en) | Payment system | |
US10169750B2 (en) | Apparatus, systems and methods for wirelessly transacting financial transfers, electronically recordable authorization transfers, and other information transfers | |
US11080678B2 (en) | Payment processing platform | |
US20090281951A1 (en) | Payment Processing Platform | |
US20080270246A1 (en) | Global electronic payment system | |
US20040039649A1 (en) | Systems and methods for charitable donating | |
US7849005B2 (en) | Electronic funds transfer method | |
KR20010102261A (en) | Credit card system and method | |
EP1546956A2 (en) | Method and system for facilitating payment transactions using access devices | |
MX2011001171A (en) | Online financial institution profile electronic checkout. | |
US6370517B2 (en) | Electronic money card, electronic money receiving/paying machine, and electronic money card editing device | |
US20080077532A1 (en) | Method and system for secure handling of electronic financial transactions | |
EP2300972A2 (en) | Payment processing platform | |
US20140019356A1 (en) | Online electronic transaction and funds transfer method and system | |
JP2021082284A (en) | Settlement processing method and system using sub account registered for main account | |
CN101622637A (en) | Method for authorizing at least one transaction by a bank system | |
KR100352175B1 (en) | A cyber settlement method using credit cards with cardholder's subsidiary credit accounts | |
GB2360866A (en) | Online payment method | |
WO2002069218A1 (en) | Electronic settlement method using credit card with cardholder's subsidiary credit accounts | |
WO2002052376A2 (en) | Method and apparatus for processing cash payments for electronic and internet transactions | |
WO2009004393A1 (en) | System, central clearing unit and method for effectuating financial transactions in a virtual environment, electronic commerce system and method, and computer program product | |
JP2003507824A (en) | Guarantee system for performing electronic commerce and method used therefor | |
US20240070629A1 (en) | Converting limited use token to stored credential |
Legal Events
Date | Code | Title | Description |
---|---|---|---|
PUAI | Public reference made under article 153(3) epc to a published international application that has entered the european phase |
Free format text: ORIGINAL CODE: 0009012 |
|
17P | Request for examination filed |
Effective date: 20030923 |
|
AK | Designated contracting states |
Kind code of ref document: A1 Designated state(s): AT BE CH CY DE DK ES FI FR GB GR IE IT LI LU MC NL PT SE TR |
|
AX | Request for extension of the european patent |
Extension state: AL LT LV MK RO SI |
|
RIN1 | Information on inventor provided before grant (corrected) |
Inventor name: CHANG, II MOO Inventor name: YI, YEONG DEUG |
|
A4 | Supplementary search report drawn up and despatched |
Effective date: 20040729 |
|
RIC1 | Information provided on ipc code assigned before grant |
Ipc: 7G 07F 19/00 B Ipc: 7G 06F 17/60 A |
|
STAA | Information on the status of an ep patent application or granted ep patent |
Free format text: STATUS: THE APPLICATION IS DEEMED TO BE WITHDRAWN |
|
18D | Application deemed to be withdrawn |
Effective date: 20050901 |