Dynamic account selection

• US 10,346,822 B2
• Filed: 08/22/2014
• Issued: 07/09/2019
• Est. Priority Date: 08/23/2013
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Gaddam, Ajit, Prakash, Gyan, Aissi, Selim
• Primary Examiner(s): Rudy, Andrew Joseph
• Application Number:
  US14/466,834
• Publication Number:
  US 20150058146A1
• Time in Patent Office: 1,782 Days
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/36 using electronic wallets or electronic money safes

Abstract

Embodiments automatically select one of the multiple pre-generated payment cards provisioned on a mobile device. The multiple pre-generated payment cards (real or virtual) may each have a different credit limit. The mobile device may automatically select one of the multiple payment cards based on a transaction value of a transaction that is being conducted. An available credit limit of the selected payment card may be equal to or slightly greater than the transaction value. In some embodiments, the available credit limit of the selected payment card may be closer to the transaction value than the available credit limits of the remaining payment cards. In some embodiments, the different payment cards may be provisioned in a chip-and-pin based smart credit card or mobile wallet.

Claims

1. A method comprising:

receiving, using a processor of a payment device, information about a plurality of payment accounts derived from a parent payment account;

storing, at a secure memory element of the payment device, the information about the plurality of payment accounts thereby provisioning the plurality of payment accounts on the payment device;

communicating, using a contactless element of the payment device, with an access device of a merchant to conduct a transaction;

receiving, using the processor of the payment device, information about the transaction from the access device, the information including a transaction value, and also receiving merchant information;

comparing, using the processor of the payment device, the transaction value to a plurality of available limits associated with the plurality of payment accounts, wherein the plurality of available limits constitute portions of an available limit of the parent payment account;

determining, whether the merchant is a trusted or non-trusted merchant based on the received the merchant information;

automatically selecting, using the processor of the payment device, a selected payment account among the plurality of payment accounts based on an available limit associated with the selected payment account being higher than the transaction value by a predetermined amount,

wherein the predetermined amount is higher when the merchant is a local or trusted merchant than when the merchant is a non-local or non-trusted merchant; and

providing, by the processor of the payment device, payment account data associated with the selected payment account to the access device.

2. The method of claim 1, further comprising:

prior to comparing;

determining, using the processor, the plurality of available limits associated with the plurality of payment accounts, wherein an available limit associated with a payment account is different than an assigned limit to the payment account, wherein a value of the available limit is less than or equal to a value of the assigned limit.

3. The method of claim 1 wherein the available limit is a credit limit and the selected payment account is a credit card account.

4. The method of claim 1 wherein the access device is a POS terminal.

5. The method of claim 1 further comprising:

querying, using the information about the transaction, a data storage for the merchant information, wherein the information about the transaction includes one or more of a merchant name, a merchant address, a merchant identification number, and a merchant rating.

6. The method of claim 5 wherein the merchant is a non-trusted merchant.

7. The method of claim 6 wherein the payment device is a mobile phone.

8. A method comprising:

receiving, using a contactless element of a user device, information about a merchant and a transaction value for a transaction between the merchant and a user of the user device;

determining, using a processor of the user device, a plurality of available limits associated with a plurality of payment accounts, wherein an available limit associated with a payment account is different than an assigned limit to the payment account, wherein a value of the available limit is less than or equal to a value of the assigned limit;

comparing, using a comparison logic executed by the processor, the transaction value to the plurality of available limits associated with the plurality of payment accounts derived from a parent payment account, wherein the plurality of available limits constitute portions of an available limit of the parent payment account;

automatically selecting, using a selection logic executed by the processor, a selected payment account among the plurality of payment accounts based on an available limit associated with the selected payment account being higher than the transaction value by a predetermined amount, wherein the predetermined amount depends on the information about the merchant; and

providing, by the processor, payment account data associated with the selected payment account to an access device of the merchant.

9. The method of claim 8, wherein the predetermined amount has a first value when the information about the merchant indicates that the merchant is a non-local merchant and a second value when the information about the merchant indicates that the merchant is a local merchant, such that the first value is smaller than the second value.

10. A mobile device comprising:

a processor,

a secure memory element,

a contactless element; and

a computer readable medium coupled to the processor, the computer readable medium comprising code that, when executed on the processor, causes the processor to implement a method comprising

receiving, using the processor, information about a plurality of payment accounts derived from a parent payment account;

storing, at the secure memory element, the information about the plurality of payment accounts thereby provisioning the plurality of payment accounts on the mobile device;

communicating, using the contactless element, with an access device of a merchant to conduct a transaction;

receiving, using the processor, information about the transaction, the information including a transaction value from the access device, and receiving merchant information,

comparing, using the processor, the transaction value to a plurality of available limits associated with the plurality of payment accounts, wherein the plurality of available limits constitute portions of an available limit of the parent payment account;

determining, whether the merchant is a trusted or non-trusted merchant based on the received the merchant information;

automatically selecting, using the processor, a selected payment account among the plurality of payment accounts based on an available limit associated with the selected payment account being higher than the transaction value by a predetermined amount,

wherein the predetermined amount is higher when the merchant is a local or trusted merchant than when the merchant is a non-local or non-trusted merchant; and

providing, by the processor, payment account data associated with the selected payment account to the access device.

11. The mobile device of claim 10 wherein the available limit is an available credit limit and the selected payment account is a credit card account.

12. The mobile device of claim 10 wherein the code, when executed on the processor, further causes the processor to:

query, using the information about the transaction, a data storage for the merchant information, wherein the information about the transaction includes one or more of a merchant name, a merchant address, a merchant identification number, and a merchant rating.

13. The mobile device of claim 10 wherein the selected payment account is selected such that the available limit of the selected payment account is within a predetermined range of the transaction value.