METHOD AND SYSTEM FOR APPROVING CREDIT CARD TRANSACTIONS

• US 20090125440A1
• Filed: 04/24/2008
• Published: 05/14/2009
• Est. Priority Date: 11/13/2007
• Status: Abandoned Application

• Current Assignee: Joon Maeng
• Original Assignee: Joon Maeng
• Inventors: Maeng, Aaron K.
• Application Number:
  US12/108,740
• Publication Number:
  US 20090125440A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

This invention relates generally to software, and more specifically, to methods and systems for approving credit card transactions when the purchaser is different from the credit card owner. In one embodiment, the invention includes a method having the steps of receiving an identification of a ware for purchase from a purchaser; receiving contact information for an approver, the approver being different from the purchaser; preparing a purchase order having a payment amount for the ware identified by the purchaser; electronically notifying the approver of the purchase order using the contact information; electronically receiving an approval of the purchase order from the approver, the approval including authorization to charge a credit card of the approver for the payment amount; and processing the credit card for the payment amount.

Claims

1. A method for approving credit card transactions when a purchaser is different from an approver, the method comprising the steps of:

receiving an identification of a ware for purchase from a purchaser;

receiving contact information for an approver, the approver being different from the purchaser;

preparing a purchase order having a payment amount for the ware identified by the purchaser;

electronically notifying the approver of the purchase order using the contact information;

electronically receiving an approval of the purchase order from the approver, the approval including authorization to charge a credit card of the approver for the payment amount; and

processing the credit card for the payment amount.

2. The method of claim 1 wherein the receiving an identification of a ware and the receiving contact information is accomplished online.

3. The method of claim 1 wherein the notifying the approver of the purchase order is accomplished by sending the purchase order to the approver via email.

4. The method of claim 1 wherein a merchant initiates notifying the approver of the purchase order.

5. The method of claim 1 wherein the purchase order includes a security feature to authenticate the purchaser.

6. The method of claim 1 wherein the approval of the purchase order is received online.

7. The method of claim 1, further comprising the step of receiving credit card information from the approver.

8. The method of claim 1 wherein the contact information for the approver is received from a purchaser account and wherein the credit card of the approver is received from an approver account.

9. A computer system programmed to perform the method of claim 1.

10. A wireless mobile device programmed to perform the method of claim 1.

11. A computer program embodied in a computer-readable medium and executable by a computer processor for approving credit card transactions when a purchaser is different from an approver, the computer program comprising the steps of:

receiving an identification of a ware for purchase from a purchaser;

receiving contact information for an approver, the approver being different from the purchaser;

preparing a purchase order having a payment amount for the ware identified by the purchaser;

electronically notifying the approver of the purchase order using the contact information;

electronically receiving an approval of the purchase order from the approver, the approval including authorization to charge a credit card of the approver for the payment amount; and

processing the credit card for the payment amount.

12. The computer program of claim 11 wherein the receiving an identification of a ware and the receiving contact information is accomplished online.

13. The computer program of claim 11 wherein the notifying the approver of the purchase order is accomplished by sending the purchase order to the approver via email.

14. The computer program of claim 11 wherein a merchant initiates notifying the approver of the purchase order.

15. The computer program of claim 11 wherein the purchase order includes a security feature to authenticate the purchaser.

16. The computer program of claim 11 wherein the approval of the purchase order is received online.

17. The computer program of claim 11, further comprising the step of receiving credit card information from the approver.

18. The computer program of claim 11 wherein the contact information for the approver is received from a purchaser account and wherein the credit card of the approver is received from an approver account.

19. The computer program of claim 11 further comprising the step of providing electronic communication between the purchaser and the approver.

20. The computer program of claim 11 wherein the ware is a cash advance from a financial institution.