METHOD AND APPARATUS FOR CONSUMER DRIVEN PROTECTION FOR PAYMENT CARD TRANSACTIONS

• US 20090164354A1
• Filed: 01/14/2009
• Published: 06/25/2009
• Est. Priority Date: 11/21/2008
• Status: Active Grant

• Current Assignee: PSCU Financial Services Incorporated
• Original Assignee: PSCU Financial Services Incorporated
• Inventors: Ingram, Deborah Joy, Ledbetter, Richard Howard, LaProva, Suzanne Adrienne
• Granted Patent: US 8,725,601 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Method and apparatus for facilitating a commercial transaction between an account holder and a merchant. The account holder has an account that is associated with respective account information. The account information includes at least one criterion for pre-authorizing a transaction. When the consumer initiates a purchase transaction, a transaction approval request is generated which includes information relating to the commercial transaction. A purchase approval entity compares the received transaction approval request to the account information to determine whether the at least one criterion for pre-authorizing the transaction is satisfied. The transaction approval request is denied when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied.

Claims

1. A method of facilitating a first commercial transaction between an account holder and a merchant, the account holder having an account, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, and the method comprising the steps of:

receiving a transaction approval request, the transaction approval request including information relating to the commercial transaction;

comparing the received information relating to the commercial transaction to the account information to determine whether the at least one criterion for pre-authorizing the transaction is satisfied; and

,

when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, denying the transaction approval request.

2. The method of claim 1, further comprising the step of preventing further determinations regarding the transaction approval request from being made.

3. The method of claim 1, wherein the account information is modifiable by the account holder.

4. The method of claim 1, wherein the account information is provided by a source other than the account holder.

5. The method of claim 1, wherein the at least one criterion for pre-authorizing a transaction is capable of being provided by the account holder.

6. The method of claim 1, wherein the at least one criterion for pre-authorizing a transaction is modifiable by the account holder.

7. The method of claim 1, wherein the account information comprises a listing of merchant identifiers and the received information relating to the commercial transaction comprises an identifier of a merchant requesting transaction approval.

8. The method of claim 1, wherein the account information comprises transaction amount information and the received information relating to the commercial transaction comprises transaction amount information.

9. The method of claim 1, wherein the account information comprises date and time information and the received information relating to the commercial transaction comprises date and time information.

10. The method of claim 1, wherein the account information comprises a locked status indicator, the locked status indicator indicating whether the account is available for particular transactions.

11. The method of claim 10, further comprising the step of monitoring the account having a locked status.

12. The method of claim 1, further comprising the step of receiving at least one additional transaction approval request, the at least one additional transaction approval request including information relating to a second commercial transaction.

13. The method of claim 12, wherein the account information is updatable, after the original transaction approval request and prior to the at least one additional transaction approval request, to include at least one criterion for pre-authorizing a second transaction.

14. The method of claim 13, further comprising the steps of:

comparing the received information relating to the second commercial transaction to the updated account information to determine whether the at least one criterion for pre-authorizing the second transaction is satisfied; and

when a determination is made that the at least one criterion for pre-authorizing the at least one additional transaction is not satisfied, denying the at least one additional transaction approval request.

15. The method of claim 1, further comprising the step of reporting the denial of the non-pre-authorized transaction approval request.

16. The method of claim 15, further comprising the step of notifying the account holder when the transaction approval request is denied.

17. A method of using an account to conduct a transaction between a merchant and an account holder, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, the method comprising the steps of:

submitting a transaction approval request, the transaction approval request including information relating to the commercial transaction;

obtaining a result of a comparison of the submitted information relating to the commercial transaction to the account information, the result of the comparison including a determination of whether the at least one criterion for pre-authorizing the transaction is satisfied; and

,

when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, refusing the transaction associated with the at least one non-satisfied pre-authorization criterion.

18. A system for facilitating a first commercial transaction between a merchant and an account holder, the account holder having an account, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, the system comprising:

a server configured to receive the account information and a transaction approval request, the transaction approval request including information relating to the first commercial transaction;

the server being further configured to compare the received information relating to the first commercial transaction to the account information to determine whether the at least one criterion for pre-authorization is satisfied;

wherein the server is further configured to deny the transaction approval request when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied.

19. The system of claim 18, wherein the server is further configured to prevent further determinations regarding the transaction approval request from being made.

20. The system of claim 18, wherein the at least one criterion for pre-authorizing a transaction is capable of being provided by the account holder.

21. The system of claim 18, wherein the at least one criterion for pre-authorizing a transaction is modifiable by the account holder.

22. The system of claim 18, wherein the account information comprises a listing of merchant identifiers and the received information relating to the commercial transaction comprises an identifier of a merchant requesting transaction approval.

23. The system of claim 18, wherein the account information comprises transaction amount information and the received information relating to the commercial transaction comprises transaction amount information.

24. The system of claim 18, wherein the account information comprises date and time information and the received information relating to the commercial transaction comprises date and time information.

25. The system of claim 18, wherein the account information comprises a locked status indicator, the locked status indicator indicating whether the account is available for particular transactions.

26. The system of claim 18, wherein the server communication module is further configured to receive at least one additional transaction approval request, the at least one additional transaction approval request including information relating to a second commercial transaction.

27. The system of claim 26, wherein the account information is updateable, after the original transaction approval request and prior to the at least one additional transaction approval request, to include at least one criterion for pre-authorizing a second transaction.

28. The system of claim 27, wherein the server is further configured to compare the received information relating to the second commercial transaction to the updated account information to determine whether the at least one criterion for pre-authorizing the second transaction is satisfied;

and, when a determination is made that the at least one criterion for pre-authorizing the at least one additional transaction is not satisfied, to deny the at least one additional transaction approval request.

29. The system of claim 18, further comprising a reporting module for reporting the denial of the non-pre-authorized transaction approval request.

30. A system for facilitating a first commercial transaction between a merchant and an account holder, the account holder having an account, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, the system comprising:

a merchant terminal, being connected to a network, the merchant terminal being configured to transmit a transaction approval request, the transaction approval request including information relating to the first commercial transaction, the merchant terminal being configured to receive an approval or a denial of the transaction approval request;

an account terminal, the account terminal being associated with the account and being connected to the network, the account terminal being configured to transmit the account information; and

a server, in communication with the account terminal and the merchant terminal via the network, the server being configured to receive the information relating to the first commercial transaction and the server being further configured to compare the received information relating to the first commercial transaction to the account information to determine whether the at least one criterion for pre-authorization is satisfied;

wherein the server is further configured to deny the transaction approval request when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied.

31. The system of claim 30, wherein the server is further configured to prevent further determinations regarding the transaction approval request from being made.

32. The system of claim 30, wherein the at least one criterion for pre-authorizing a transaction is communicated from the account terminal to the server via the network.

33. The system of claim 30, wherein the at least one criterion for pre-authorizing a transaction is modified by the account terminal via the network.

34. The system of claim 30, wherein the account information comprises a listing of merchant identifiers and the received information relating to the commercial transaction comprises an identifier of a merchant requesting transaction approval.

35. The system of claim 30, wherein the account information comprises transaction amount information and the received information relating to the commercial transaction comprises transaction amount information.

36. The system of claim 30, wherein the account information comprises date and time information and the received information relating to the commercial transaction comprises date and time information.

37. The system of claim 30, wherein the account information comprises a locked status indicator, the locked status indicator indicating whether the account is available for particular transactions.

38. The system of claim 30, wherein the server further is configured to receive at least one additional transaction approval request, the at least one additional transaction approval request including information relating to a second commercial transaction.

39. The system of claim 38, wherein the account information is updateable, after the original transaction approval request and prior to the at least one additional transaction approval request, to include at least one criterion for pre-authorizing a second transaction.

40. The system of claim 39, wherein the server is further configured to compare the received information relating to the second commercial transaction to the updated account information to determine whether the at least one criterion for pre-authorizing the second transaction is satisfied;

and, when a determination is made that the at least one criterion for pre-authorizing the at least one additional transaction is not satisfied, to deny the at least one additional transaction approval request.

41. The system of claim 30, wherein the server is further configured to report the denial of the non-pre-approved transaction approval request.

42. A method of facilitating a first commercial transaction between an account holder and a merchant, the account holder having an account, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, and the method comprising the steps of:

receiving a transaction approval request, the transaction approval request including information relating to the commercial transaction;

comparing the received information relating to the commercial transaction to the account information to determine whether the at least one criterion for pre-authorizing the transaction is satisfied; and

,

when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, refraining from further communication relating to the commercial transaction with the account holder.

43. A system for facilitating a first commercial transaction between a merchant and an account holder, the account holder having an account, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, the system comprising:

a server configured to receive the account information and a transaction approval request, the transaction approval request including information relating to the first commercial transaction;

the server being further configured to compare the received information relating to the first commercial transaction to the account information to determine whether the at least one criterion for pre-authorization is satisfied;

wherein the server is further configured to refrain from further communication relating to the commercial transaction with the account holder when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied.