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System for managing risk of financial transactions with location information

  • US 20070034682A1
  • Filed: 10/23/2006
  • Published: 02/15/2007
  • Est. Priority Date: 12/23/2003
  • Status: Active Grant
First Claim
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1. A method of determining a risk of accepting a proffered promissory payment, the method comprising;

  • receiving transaction information about a proffered promissory payment from a transaction device;

    extracting a location of the transaction device from the transaction information;

    determining whether the transaction device location is approved;

    if the transaction device location is not approved, determining whether risk factors are available for the transaction device location;

    requesting additional information associated with the proffered promissory payment;

    determining whether the requested additional information is acceptable; and

    if the requested additional information is acceptable, performing a risk assessment of the proffered promissory payment based at least in part on the additional information.

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