TRANSACTION PROCESSING SYSTEMS AND METHODS
3 Assignments
0 Petitions
Accused Products
Abstract
A transaction processing system according to various embodiments of the invention is adapted for: (1) associating a particular account (e.g., a credit card account) with a particular phone number; (2) at least partially in response to receiving a request to approve a transaction associated with the account, automatically transmitting a message (e.g., a text message) to the account holder via the phone number, requesting that the account holder confirm that the transaction is valid; and (3) using a response to the message to determine whether to approve or deny the transaction. In various embodiments, the request confirmation message requests that that the user answer a particular question (e.g., regarding out-of-wallet data), and the system is adapted to determine whether to approve or deny the transaction based on whether the response included a correct answer to the question.
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Citations
80 Claims
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1-36. -36. (canceled)
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37. A transaction processing system comprising:
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a computer processor; and
memory for storing computer-readable instructions to be executed by said computer processor, wherein;
said transaction processing system is adapted for;
transmitting a transaction confirmation message to an electronic device to confirm a particular transaction;
receiving a response to said transaction confirmation message from said electronic device;
assigning a transaction risk rating to said particular transaction based, at least in part, on at least one factor selected from a group consisting of;
(A) a geographical location associated with said electronic device; and
(B) said response to said transaction confirmation message; and
using said transaction risk rating to determine an amount to charge for processing said particular transaction. - View Dependent Claims (39, 77, 78)
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38. A transaction processing system comprising:
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a computer processor; and
memory for storing computer-readable instructions to be executed by said computer processor, wherein;
said transaction processing system is adapted for;
transmitting a transaction confirmation message to an electronic device to confirm a particular transaction;
receiving a response to said transaction confirmation message from said electronic device;
assigning a transaction risk rating to said particular transaction based, at least in part, on at least one factor selected from a group consisting of;
(A) a geographical location associated with said electronic device; and
(B) said response to said transaction confirmation message; and
transmitting said transaction risk rating to a payment processing system that is adapted for using said transaction risk rating to determine an amount to charge for processing said particular transaction. - View Dependent Claims (40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 79, 80)
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57-63. -63. (canceled)
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75-76. -76. (canceled)
Specification