US-20260127581-A1 - PAY WITH POINTS VIRTUAL CARD

US20260127581A1US 20260127581 A1US20260127581 A1US 20260127581A1US-20260127581-A1

Abstract

A method performed by a computing system includes generating an encryption key pair, providing a first encryption key of the encryption key pair to a mobile device of a user where the first encryption key is for generating a cryptogram for authentication of a transaction, receiving a transaction request associated with a rewards account of the user including the cryptogram, authenticating the transaction request as being provided by the mobile device of the user using a second encryption key of the encryption key pair and the cryptogram, determining a currency conversion value of a rewards balance where the currency conversion value is based on a multiplier that is activated based on a location of the mobile device, and determining that the currency conversion value of the rewards balance is sufficient to complete the transaction request.

Inventors

Ashish B. Kurani
Steven E. Puffer

Assignees

WELLS FARGO BANK, N.A.

Dates

Publication Date: 20260507
Application Date: 20251230

Claims (20)

1 . A method comprising: generating, by a computing system, an encryption key pair; providing, by the computing system and to a mobile device of a user, a first encryption key of the encryption key pair, the first encryption key for generating a cryptogram for authentication of a transaction; receiving, by the computing system, a transaction request associated with a rewards account of the user including the cryptogram; authenticating, by the computing system and using a second encryption key of the encryption key pair and the cryptogram, the transaction request as being provided by the mobile device of the user; determining, by the computing system, a currency conversion value of a rewards balance, the currency conversion value based on a multiplier that is activated based on a location of the mobile device; and determining, by the computing system, that the currency conversion value of the rewards balance is sufficient to complete the transaction request.
2 . The method of claim 1 , wherein the rewards balance of the rewards account is accepted by an institution associated with the computing system.
3 . The method of claim 1 , further comprising receiving, by the computing system, an indication of a backup funding source.
4 . The method of claim 3 , further comprising associating, by the computing system, the backup funding source with the rewards account, wherein the backup funding source is available to complete a transaction.
5 . The method of claim 1 , further comprising: displaying, by the mobile device, an active payment source from among a plurality of available payment sources; and displaying, by the mobile device and when a rewards account is selected as the active payment source, the currency conversion value of the rewards balance based on the multiplier that is activated.
6 . The method of claim 1 , further comprising: transmitting, by the computing system to a merchant computing system, an approval message approving the transaction request.
7 . A computing system comprising: a network interface configured to communicate with other devices via a network; a database configured to store information relating to a plurality of accounts; and a processing circuit comprising a processor and memory, the processing circuit configured to: generate an encryption key pair; provide, to a mobile device of a user, a first encryption key of the encryption key pair, the first encryption key for generating a cryptogram for authentication of a transaction; receive a transaction request associated with a rewards account of the user including the cryptogram; authenticate, using a second encryption key of the encryption key pair and the cryptogram, the transaction request as being provided by the mobile device of the user; determine a currency conversion value of a rewards balance, the currency conversion value based on a multiplier that is activated based on a location of the mobile device; and determine that the currency conversion value of the rewards balance is sufficient to complete the transaction request.
8 . The computing system of claim 7 , wherein the rewards balance of the rewards account is accepted by an institution that maintains the plurality of accounts.
9 . The computing system of claim 7 , wherein the processing circuit is further configured to receive an indication of a backup funding source.
10 . The computing system of claim 9 , wherein the processing circuit is further configured to: associate the backup funding source with the rewards account, wherein the backup funding source is available to complete a transaction.
11 . The computing system of claim 7 , wherein the processing circuit is further configured to: receive, by the mobile device, a selection of an active payment source from among a plurality of available payment sources; and when a rewards account is selected as the active payment source, cause the mobile device to display the currency conversion value of the rewards balance based on the multiplier that is activated.
12 . The computing system of claim 7 , wherein the processing circuit is further configured to: transmit, to a merchant computing system, an approval message approving the transaction request.
13 . A non-transitory computer-readable media having computer-executable instructions embodied therein that, when executed by one or more processors of a device, cause the device to perform operations comprising: generating an encryption key pair; providing, to a mobile device of a user, a first encryption key of the encryption key pair, the first encryption key for generating a cryptogram for authentication of a transaction; receiving a transaction request associated with a rewards account of the user including the cryptogram; authenticating, using a second encryption key of the encryption key pair and the cryptogram, the transaction request as being provided by the mobile device of the user; determining a currency conversion value of a rewards balance, the currency conversion value based on a multiplier that is activated based on a location of the mobile device; and determining that the currency conversion value of the rewards balance is sufficient to complete the transaction request.
14 . The non-transitory computer-readable media of claim 13 , wherein the rewards balance of the rewards account is accepted by an institution.
15 . The non-transitory computer-readable media of claim 13 , wherein the operations further comprise: receiving an indication of a backup funding source.
16 . The non-transitory computer-readable media of claim 15 , wherein the operations further comprise: associating the backup funding source with the rewards account, wherein the backup funding source is available to complete a transaction.
17 . The non-transitory computer-readable media of claim 16 , wherein the backup funding source supplements the rewards balance in the rewards account to prevent the transaction from being denied for an insufficient value of the rewards balance.
18 . The non-transitory computer-readable media of claim 15 , wherein the backup funding source is a credit card account.
19 . The non-transitory computer-readable media of claim 13 , wherein the operations further comprise: receiving, by the mobile device, a selection of an active payment source from among a plurality of available payment sources; and when a rewards account is selected as the active payment source, causing the mobile device to display the currency conversion value of the rewards balance based on the multiplier that is activated.
20 . The non-transitory computer-readable media of claim 13 , wherein the operations further comprise: transmitting, to a merchant computing system, an approval message approving the transaction request.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS This application is a continuation of U.S. Patent Application No. 18/508,110, filed November 13, 2023, which is a continuation of U.S. Patent Application No. 17/892,557, filed August 22, 2022, now U.S. Patent No. 11,823,179, which is a continuation of U.S. Patent Application No. 15/824,687, filed November 28, 2017, now U.S. Patent No. 11,423,395, which claims the benefit of and priority to U.S. Provisional Patent Application No. 62/440,259, filed December 29, 2016, each of which are incorporated herein by reference in their entireties and for all purposes. TECHNICAL FIELD Embodiments of the present disclosure relate to systems and methods for allowing users to pay with rewards points directly. BACKGROUND Many consumers use rewards credit cards to make purchases. The rewards credit cards allow the consumers to accrue rewards points or credits when the credit cards are used and/or the credit card bills are paid. The rewards points or credits for a given credit card are typically maintained by the issuing financial institution associated with the credit card. The consumer can then use rewards points or credits by converting the points into currency and, for example, applying the currency to pay down a credit card bill balance, depositing the currency into a bank account, withdrawing the currency from an ATM or the like. However, this process can be cumbersome and often requires the consumer to log into a rewards account, convert the points into currency, and use the currency (as described above). SUMMARY One example embodiment relates to a method of provisioning a virtual account to a mobile wallet. The method includes receiving, by a financial institution computing system associated with a financial institution and from a mobile device associated with a customer, a request to provision a virtual payment account to a mobile wallet client on the mobile device. The request identifies a rewards account associated with the customer. The rewards account stores a balance of rewards points. The method further includes generating, by the financial institution computing system, an account number for the rewards account, wherein the account number includes an issuer identification number associated with the financial institution. The method includes generating, by the financial institution computing system, a token that serves as a proxy for the account number. The method includes transmitting, by the financial institution computing system, the token to the mobile device for use with the mobile wallet client. Another example embodiment relates to a financial institution computing system associated with a financial institution. The system includes a network interface configured to communicate data to and from other devices via a network. The system further includes an accounts database configured to store information relating to a plurality of accounts maintained by the financial institution. The system includes a processing circuit comprising a processor and memory. The processing circuit is configured to receive, from a mobile device associated with a customer, a request to provision a virtual payment account to a mobile wallet client on the mobile device. The request identifies a rewards account associated with the customer. The rewards account stores a balance of rewards points. The processing circuit is further configured to generate an account number for the rewards account, wherein the account number includes an issuer identification number associated with the financial institution. The processing circuit is configured to generate a token that serves as a proxy for the account number. The processing circuit is further configured to transmit the token to the mobile device for use with the mobile wallet client. A further example embodiment relates to a method of processing a payment request associated with a virtual account linked to a rewards account. The method includes receiving, by a financial institution computing system associated with a financial institution, a payment request from a merchant point-of-sale (POS) system for a transaction between a merchant and a customer. The payment request includes a payment token and an amount of the transaction in currency. The payment token is associated with the rewards account that stores a balance of rewards points. The method further includes determining, by the financial institution computing system, a number of rewards points in the rewards account, and transmitting, by the financial institution computing system, an approval message to the merchant POS system. The method includes updating, by the financial institution computing system, the balance of rewards points in the rewards account based on the amount of the transaction in currency and a conversion rate of points to currency. Another example embodiment relates to a financial institution computing system associated with a financial institution. The system includes a netwo