PROCESSING TRANSACTIONS USING A REGISTER PORTION TO TRACK TRANSACTIONS

• US 20070094154A1
• Filed: 11/21/2006
• Published: 04/26/2007
• Est. Priority Date: 08/01/2000
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Knackstedt, Lee, Rau, Scott
• Granted Patent: US 8,468,071 B2
• Time in Patent Office: Days
• US Class Current: 705/67
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods are provided that keep check of financial transactions by maintaining a count of the financial transactions using a register portion, in conjunction with performing authentication further to inputting transaction data from a data-bearing record that is stored in a device. The system may include a communication portion that inputs transaction data received from the data bearing record, the transaction data including an input transaction count value and an input device differentiator number; and a processing portion that processes the transaction data. The processing portion may include (1) a memory portion that stores stored data; (2) a device identification portion that identifies the device based on the device differentiator number and an account number, the account number being derived from the transaction data; (3) a register portion that maintains a count of financial transactions so as to provide a current transaction count value associated with the input device differentiator number for the account number, the register portion maintaining current transaction count values for respective device differentiator numbers, which device differentiator numbers are associated with the account number; and (4) an authentication portion that performs authentication processing based on a comparison process that utilizes the current transaction count value and the input transaction count value, the authentication portion generating an authentication result, the authentication portion outputting the authentication result.

Claims

1. A system that keeps check of financial transactions by maintaining a count of the financial transactions using a register portion, in conjunction with performing authentication further to inputting transaction data from a data-bearing record that is stored in a device, the system comprising:

a communication portion that inputs transaction data received from the data bearing record, the transaction data including at least one of an input transaction count value and an input device differentiator number;

a processing portion that processes the transaction data, the processing portion including;

a memory portion that stores stored data;

a device identification portion that identifies the device based on the device differentiator number and an account number, the account number being derived from the transaction data;

a register portion that maintains a count of financial transactions so as to provide a current transaction count value associated with the input device differentiator number for the account number, the register portion maintaining current transaction count values for respective device differentiator numbers, which device differentiator numbers are associated with the account number;

an authentication portion that performs authentication processing based on a comparison process that utilizes the current transaction count value and the input transaction count value, the authentication portion generating an authentication result, the authentication portion outputting the authentication result.

2. The system of claim 1, in which the device is a transponder.

3. The system of claim 1, in which the device is a RFID device.

4. The system of claim 1, in which the authentication portion outputs the authentication result to a point of sale device.

5. The system of claim 1, in which the account number and the input device differentiator number are used by the processing portion to track and document activity associated with the account number and the input device differentiator number, the processing portion also separately tracking and documenting activity of other device differentiator numbers associated with the same account number.

6. The system of claim 5, in which the system includes the device.

7. The system of claim 1, in which the stored data, in the processing portion, includes a first device differentiator number and a second device differentiator number that are both respectively associated with respective transaction effecting components in the device, the device being a single physical device.

8. The system of claim 1, in which the stored data includes a first device differentiator number and a second device differentiator number that are both associated with the account number.

9. The system of claim 8, in which the stored data further includes a third device differentiator number, the second device differentiator number and the third device differentiator number both respectively associated with respective transaction effecting components in the device, the device being a single physical device.

10. The system of claim 8, in which the processing portion further including an account monitoring portion, the account monitoring portion separately monitoring transaction activity associated with the first device differentiator number and a second device differentiator number, which are both associated with the account number.

11. The system of claim 10, in which the account monitoring portion separately keeps track of activity associated with the first device differentiator number and a second device differentiator number.

12. The system of claim 11, in which the stored data in the processing portion reflects that the first device differentiator number and a second device differentiator number are associated with two different physical transaction devices.

13. The system of claim 11, in which the activity that the monitoring portion separately keeps track of is activity related to fraud monitoring.

14. The system of claim 12, in which the activity that the monitoring portion separately keeps track of is activity related to monitoring repeat purchasing behavior associated respectively with the first device differentiator number and a second device differentiator number.

15. The system of claim 12, in which the activity that the monitoring portion separately keeps track of is activity related to comparing purchasing behavior associated with the first device differentiator number vis-a-vis purchasing behavior associated with the second device differentiator number.

16. The system of claim 12, in which the stored data reflects that the different physical transaction devices are associated with different users in the same family.

17. The system of claim 16, in which the two different physical transaction devices are associated with different communication channels, the authentication portion inputting information from the communication portion regarding which communication channel the transaction data came in on, and the authentication portion validating that such communication channel is valid for the particular device differentiator number that the transaction data is associated with.

18. The system of claim 8, in which the authentication processing includes utilizing Digital Authentication code (DAC) processing.

19. The system of claim 1, the account number being contained in the transaction data.

20. The system of claim 1, the account number being derived, using the stored data, from information in the transaction data.

21. The system of claim 1, in which communication portion senses the data-bearing record so as to input the transaction data.

22. The system of claim 21, the communication portion being an RFID device.

23. The system of claim 1, in which the communication portion is a communication input at a financial institution.

24. The system of claim 1, in which the processing portion, based on the input device differentiator number and the account number, retrieves a rule set, and

the rule set having different rules for different device differentiator numbers associated with the account number.

25. The system of claim 24, the rules being directed to limiting a dollar amount of transactions.

26. The system of claim 24, the rules being directed to limiting the type of merchant at which the transaction is performed, the processing portion determining the type of merchant based on information in the transaction data.

27. A method to keeps check of financial transactions by maintaining a count of the financial transactions using a register portion, in conjunction with performing authentication further to inputting transaction data from a data-bearing record that is stored in a device, the method comprising:

inputting transaction data received from the data bearing record, the transaction data including at least one of an input transaction count value and an input device differentiator number;

identifying the device based on the device differentiator number and an account number, the account number being derived from the transaction data;

maintaining a count, by a register portion, of financial transactions so as to provide a current transaction count value associated with the input device differentiator number for the account number, the register portion maintaining current transaction count values for respective device differentiator numbers, which device differentiator numbers are associated with the account number;

performing authentication processing based on a comparison process that utilizes the current transaction count value and the input transaction count value; and

generating and outputting an authentication result, based on the authentication processing.

28. A system that keeps check of financial transactions by maintaining a count of the financial transactions using a register portion, in conjunction with performing authentication further to inputting transaction data from a data-bearing record that is stored in a device, the system comprising:

a communication portion that inputs transaction data received from the data bearing record, the transaction data including at least one of an input transaction count value and an input device differentiator number;

a processing portion that processes the transaction data, the processing portion including;

a memory portion that stores stored data;

a device identification portion that identifies the device based on the device differentiator number and an account number, the account number being derived from the transaction data;

a register portion that maintains a count of financial transactions so as to provide a current transaction count value associated with the input device differentiator number for the account number, the register portion maintaining current transaction count values for respective device differentiator numbers, which device differentiator numbers are associated with the account number;

an authentication portion that performs authentication processing based on a comparison process that utilizes the current transaction count value and the input transaction count value, the authentication portion generating an authentication result, the authentication portion outputting the authentication result; and

the system in which the account number and the input device differentiator number are used by the processing portion to track and document activity associated with the account number and the input device differentiator number, the processing portion also separately tracking and documenting activity of other device differentiator numbers associated with the same account number;

the system in which the processing portion, based on the input device differentiator number and the account number, retrieves and applied a rule set to the transactions, and the rule set having different rules for different device differentiator numbers associated with the account number; and

the rules being directed to limiting a dollar amount of transactions; and

the rules being directed to limiting the type of merchant at which the transaction is performed for a particular device, the processing portion determining the type of merchant based on information in the transaction data.