System and method for pre-verifying commercial transactions
First Claim
1. A computer system for verifying a commercial transaction between an account-holder and a merchant, said computer system comprising:
- a processing unit for processing data and code; and
a memory device for storing said data and said code, said code including a merchant communications module operative to facilitate a connection with said merchant for receiving a transaction approval request including a complete account number associated with said account-holder, said data including at least one pre-verification criteria associated with said account-holder, and said code further including an authorization module responsive to said transaction approval request and operative to compare said transaction approval request with said pre-verification criteria, and to verify said transaction approval request if said at least one pre-verification criteria is satisfied.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method is disclosed for verifying a commercial transaction between a card-holder, a merchant, and a credit card company. The card-holder makes a purchase with the merchant using a full credit card number. The merchant submits a transaction approval request for approval with the credit card company. The credit card company executes conventional credit approval of the transaction approval request, as well as verifies the transaction approval request with the card-holder. An approval is sent to the merchant only after the transaction approval request is both conventionally approved by the credit card company and verified by the card-holder. The card-holder, or the credit card company, may initiate verification of the transaction approval request. The transaction approval request can also be automatically verified if one or many pre-verification criteria is/are satisfied by data contained in the transaction approval request. The pre-verification criteria can be initially determined and/or modified by the card-holder.
70 Citations
36 Claims
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1. A computer system for verifying a commercial transaction between an account-holder and a merchant, said computer system comprising:
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a processing unit for processing data and code; and
a memory device for storing said data and said code, said code including a merchant communications module operative to facilitate a connection with said merchant for receiving a transaction approval request including a complete account number associated with said account-holder, said data including at least one pre-verification criteria associated with said account-holder, and said code further including an authorization module responsive to said transaction approval request and operative to compare said transaction approval request with said pre-verification criteria, and to verify said transaction approval request if said at least one pre-verification criteria is satisfied. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. In a computer system, a method for verifying a commercial transaction between an account-holder and a merchant, said method comprising:
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storing at least one pre-verification criteria associated with said account-holder;
receiving a transaction approval request from said merchant, said transaction approval request including a complete account number associated with said account-holder;
comparing said transaction approval request to said pre-verification criteria; and
verifying said transaction approval request if said pre-verification criteria are met. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
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Specification