Jpmorgan Chase Bank, N.a.

Ankur Kulshreshtha

Howard Spector

Gayathri Sundar

David Christopher Carey

Raghuram Vudathu

Pavan Mummareddi

Benjamin Brandt

Mervin Majella Felix

Ishank Paharia

Eric L Connolly

Ajith Chandran Karuvathil

Arun Neelan

Rajeeva Chandra Nagarakanti

Venkata Kunam

Systems and methods for using a cryptogram lockbox are disclosed. In one embodiment, in a merchant-specific cryptogram lockbox comprising at least one computer processor, a method for generating a cryptogram locally using a cryptogram lockbox may include: (1) receiving, from merchant backend, a request for a cryptogram comprising an account identifier received from a customer in a transaction; (2) generating a cryptogram for the account identifier using a limited use key for the account identifier; and (3) returning the cryptogram to the merchant backend. The merchant may conduct the transaction using the cryptogram.

Systems and methods for using a cryptogram lockbox

Exemplary embodiments provide methods and systems for configuring spending or credit limits for individual mobile devices for the same account, such as a credit card account. The spending limits may be configured by the primary account holder through a website or mobile application. A token id is set on the mobile device that corresponds to the account. The token id is unique for the individual mobile device During a mobile payment transaction, the token id is mapped back to the corresponding account and the available spending limit is evaluated with respect to the transaction. Based on this evaluation, an approval or denial for the transaction is generated.

System and method for mobile device limits

Growing community of inventors

Newark, DE, United States of America

Ankur Kulshreshtha