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Method of reducing fraud in credit card and other E-business

  • US 20020099648A1
  • Filed: 01/25/2001
  • Published: 07/25/2002
  • Est. Priority Date: 09/19/2000
  • Status: Abandoned Application
First Claim
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1. A method for reducing credit card fraud consisting of the following steps:

  • 1. An authorized user accesses his credit card account which has a usage line, where the usage line, which is solely administrated by the authorized user, is a paradigm that optionally defines approved merchants, approved times, coincident user approval and other criteria as established by the user. 2. The user presents or communicates his credit card, at time of a purchase, to the merchant. 3. The merchant contacts a card processor, initiating a request that funds be transferred from the account to the merchant. 4. The card processor relays the request to an issuing bank for the credit card account. 5. The issuing bank individually processes the request through the account and through the usage line, said processing generating a first result for the account, and a second result for the usage line. 6. The issuing bank compares the results and issues a reply to the card processor that the request is approved if both the first result and the second result are approved, or replies that the requests is declined if either result is not approved. 7. The card processor communicates the reply to the merchant. 8. The merchant completes the purchase, or notifies user that card was declined.

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