CPC G06Q 20/4014 (2013.01) [G06Q 10/063 (2013.01); G06Q 20/20 (2013.01); G06Q 20/3224 (2013.01); G06Q 20/363 (2013.01); G06Q 20/385 (2013.01); G06Q 20/40145 (2013.01)] | 20 Claims |
1. A system for facilitating streamlined online checkout, the system comprising:
a receiver configured to receive a request for payment from a customer in an online transaction between the customer and an online merchant; and
a processor coupled to the receiver via a communication network, wherein the processor is configured to:
authenticate the customer upon initiation of a checkout process in the online transaction with the merchant, wherein a form of authentication used to authenticate an identity of the customer varies according to a transaction threshold of the online transaction, wherein the transaction threshold is dependent on at least one characteristic of the transaction;
identify a customer payment account for use in the online transaction;
implement an application on said personal computing device that provides a user interface for access by authorized user upon successful biometric authentication or physical attribute authentication and connects to an Internet application to process the customer payment account for use in the online transaction;
generate a token temporarily associated with the payment account, wherein the token is a hash value generated from real account data;
make the token available to the customer for submission to the merchant as a form of payment;
receive a transaction request from the merchant, the transaction request including the token; and
verify the received token and match the received token to the corresponding payment account, thereby making a decision to approve or decline the transaction request.
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