Systems and methods for electronic transaction risk processing
First Claim
1. A computerized method for determining authorization of a financial transaction comprising:
- determining whether an entity proffering a promissory payment associated with demand deposit account is a member of a membership program associated with a merchant;
determining a risk assessment based at least in part on whether the entity is a member of the membership program; and
authorizing the financial transaction based at least in part on the risk assessment.
8 Assignments
0 Petitions
Accused Products
Abstract
A system automatically determines authorization of a financial transaction occurring through the presentation of a check card such as a demand deposit account (DDA) card. For a proposed financial transaction of a customer from a merchant having a membership program, the system obtains an indication that the customer is a member of the merchant'"'"'s membership program. The system determines an indication of risk for the transaction, based at least in part on the indication that the customer is a member of the merchant'"'"'s membership program. The financial transaction is authorized when the indication of risk is within at least one parameter.
39 Citations
23 Claims
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1. A computerized method for determining authorization of a financial transaction comprising:
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determining whether an entity proffering a promissory payment associated with demand deposit account is a member of a membership program associated with a merchant;
determining a risk assessment based at least in part on whether the entity is a member of the membership program; and
authorizing the financial transaction based at least in part on the risk assessment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for determining authorization of a financial transaction comprising:
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an indication of whether an entity proffering a promissory payment is a member of a membership program associated with a merchant;
a risk assessment based at least in part on whether the entity is a member of the membership program; and
an authorization of the financial transaction based at least in part on the risk assessment. - View Dependent Claims (12, 13, 14, 15, 16)
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17. A system for determining authorization of a financial transaction through the presentation of a check card comprising:
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means for obtaining for a proposed financial transaction providing for the payment of goods and services from a checking account of a user through the presentation of a check card to a merchant an indication of whether the user is a member of a membership program associated with the merchant;
means for determining a risk score based at least in part on the indication; and
means for authorizing the financial transaction based at least in part on the risk score when the risk score is within at least one parameter. - View Dependent Claims (18, 19, 20)
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21. A method of enrolling a user into a system that allows the payment of goods or services through the presentation of a check card, the method comprising:
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acquiring information about a user that desires to enroll in a system that allows goods or services to be purchased with a check card, wherein the information indicates whether the user is a member of a merchant membership program;
acquiring MICR data corresponding to the user'"'"'s checking account;
acquiring an indication of risk associated with enrolling the user, wherein the indication of risk is based at least in part on whether the user is a member of a membership program; and
enrolling the user based at least in part on the indication of risk.
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22. A data packet for use in a financial transaction, the data packet comprising:
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an indication of whether an entity proffering a promissory payment is a member of a membership program associated with a merchant; and
wherein the data packet is transmitted to a transaction authorization service.
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23. A point-of-sale device comprising:
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a communication interface; and
processor circuitry in communication with the communication interface, the processor circuitry configured to generate a transaction code associated with a promissory payment proffered by an entity;
the processor circuitry further configured to transmit via the communication interface the transaction code to a transaction authorization service for use in accessing a risk of the promissory payment; and
wherein the transaction code is used to identify whether the entity is a member of a membership program associated with a merchant, and wherein the risk assessment is based at least in part on the transaction code.
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Specification