18515742. TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL simplified abstract (Capital One Services, LLC)
Contents
- 1 TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL
Organization Name
Inventor(s)
James Zarakas of Centreville VA (US)
Tyler Locke of Jersey City NJ (US)
TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL - A simplified explanation of the abstract
This abstract first appeared for US patent application 18515742 titled 'TOKENIZING A PRIMARY ACCOUNT NUMBER PRIOR TO TRANSMISSION TO A TERMINAL
Simplified Explanation
The abstract describes a patent application related to a transaction card that can generate a tokenized primary account number for secure transactions.
- Transaction card receives transaction data from a terminal
- Generates a tokenized primary account number based on the transaction data and actual primary account number
- Transmits the tokenized primary account number to the terminal for processing the transaction
Potential Applications
The technology described in this patent application could be applied in various industries such as banking, retail, and e-commerce for secure transactions.
Problems Solved
This technology addresses the issue of potential fraud and unauthorized access to primary account numbers during transactions.
Benefits
The use of tokenized primary account numbers enhances security and reduces the risk of sensitive information being compromised during transactions.
Potential Commercial Applications
"Secure Tokenized Primary Account Number Technology for Transaction Cards" could be used in payment processing systems, online shopping platforms, and financial institutions to ensure secure transactions.
Possible Prior Art
There are existing technologies that use tokenization for secure transactions, but this specific implementation may have unique features or improvements.
Unanswered Questions
How does the tokenized primary account number enhance security in transactions?
The tokenized primary account number adds an extra layer of security by replacing the actual primary account number with a unique token that is only valid for a single transaction. This helps prevent fraud and unauthorized access to sensitive information.
What impact could this technology have on the future of payment security?
This technology could revolutionize payment security by providing a more secure method for processing transactions, reducing the risk of data breaches and fraud in various industries.
Original Abstract Submitted
In some implementations, a transaction card may receive transaction data from a transaction terminal based on initiation of a transaction with the transaction terminal; generate a tokenized primary account number, for use with the transaction, based on the transaction data and an actual primary account number of the transaction card; and transmit the tokenized primary account number to the transaction terminal for processing the transaction.
