SYSTEMS AND METHODS FOR RISK TRIGGERING VALUES
First Claim
1. A computer-implemented method to facilitate authorization of a payment request comprising:
- receiving a request for payment authorization related to a transaction account; and
,determining whether to issue a payment authorization based in part upon a risk triggering value (RTV), wherein said RTV is calculated based on historical transactions, and wherein said request for payment authorization need not be sent to a central authorization system.
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Accused Products
Abstract
The invention includes systems and methods for facilitating risk assessment for point of sale transactions utilizing at least one risk triggering value (RTV) stored within a distributed (e.g., local and/or regional) processing site. An RTV is a condensed version of a set of complex risk data and strategies usually found in central processing sites. The distributed site, after receiving a request for payment authorization, a risk value is calculated for the request. The distributed processing site compares the risk value to the RTV to determine whether to authorize payment. If the risk value is less than or equal to the RTV, the payment is authorized while a risk value greater than the RTV will not be authorized. After one or more authorizations, the distributed processing site forwards the information from the transaction(s) to the central site, wherein the central site calculates a new RTV for the account and distributes the new RTV to the distributed processing site.
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Citations
23 Claims
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1. A computer-implemented method to facilitate authorization of a payment request comprising:
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receiving a request for payment authorization related to a transaction account; and
,determining whether to issue a payment authorization based in part upon a risk triggering value (RTV), wherein said RTV is calculated based on historical transactions, and wherein said request for payment authorization need not be sent to a central authorization system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A computer-implemented method to facilitate authorization of a payment request at a central processing site comprising the steps of:
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condensing a set of risk data and strategies to create a calculation rule, wherein said risk data is based on historical transactions including at least one of;
purchases, cash advances, payments, and disputes relating to said transaction account; and
,distribute said calculation rule to a distributed processing site, wherein said distributed processing site receives a request for payment authorization related to a transaction account, and determines whether to issue a payment authorization based in part upon a risk triggering value (RTV), wherein said RTV is calculated based on historical transactions, and wherein said request for payment authorization need not be sent to a central authorization system.
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23. A machine-readable medium having stored thereon a plurality of instructions, said plurality of instructions when executed by a processor, cause said processor to perform a method comprising the steps of:
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receiving a request for payment authorization related to a transaction account; and
,determining whether to issue a payment authorization based in part upon a risk triggering value (RTV), wherein said RTV is calculated based on historical transactions, and wherein said request for payment authorization need not be sent to a central authorization system.
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Specification