Mastercard Incorporated
METHODS AND SYSTEMS FOR PREVENTING A FRAUDULENT PAYMENT TRANSACTION

Abstract:

Embodiments provide methods and systems for preventing a fraudulent payment transaction. The method performed by issuer system associated with payment account of user includes generating unique data for payment transaction of the user upon approval of payment transaction authorization request signal. The method includes facilitating encryption of the unique data based on encryption key and sending payment transaction authorization response signal to payment server associated with payment network. The payment transaction authorization response signal includes at least the encrypted unique data. The method includes processing the payment transaction upon receiving a notification of a successful validation of the payment transaction authorization response signal from payment server. The validation of the payment transaction authorization response signal is performed by payment server. For validation, payment server decrypts unique data received in payment transaction authorization response and determines match between decrypted unique data and payment data associated with payment transaction authorization request signal.