SYSTEM AND METHOD FOR FACILITATING ELECTRONIC COMMERCE WITH CONTROLLED SPENDING OVER A NETWORK

• US 20110078042A1
• Filed: 09/29/2009
• Published: 03/31/2011
• Est. Priority Date: 09/29/2009
• Status: Abandoned Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Fletcher, Charles
• Application Number:
  US12/568,989
• Publication Number:
  US 20110078042A1
• Time in Patent Office: Days
• US Class Current: 705/26.35
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/2295 Parent-child type, e.g. where parent has control on child rights
• 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 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification

Abstract

In accordance with embodiments of the present disclosure, systems and methods for facilitating electronic commerce over a network include receiving a transaction request from a merchant on behalf of a client, accessing a client account associated with the client based on information passed with the transaction request, reviewing spending parameters stored as part of the client account, the spending parameters indicating acceptable merchant category codes for client approved merchants, comparing a merchant category code for the merchant with the acceptable merchant category codes of the spending parameters, approving the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an acceptable merchant category code of the spending parameters, and denying the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an unacceptable merchant category code of the spending parameters.

Claims

1. A method for facilitating electronic commerce over a network, the method comprising:

receiving a transaction request from a merchant on behalf of a client;

accessing a client account associated with the client based on information passed with the transaction request;

reviewing spending parameters stored as part of the client account, the spending parameters indicating acceptable merchant category codes for client approved merchants;

comparing a merchant category code for the merchant with the acceptable merchant category codes of the spending parameters;

approving the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an acceptable merchant category code of the spending parameters; and

denying the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an unacceptable merchant category code of the spending parameters.

2. The method of claim 1, further comprising:

establishing the client account with the client;

receiving monetary funds from the client for deposit into the client account;

configuring the spending parameters based on input from the client;

issuing a payment media to the client; and

allowing the client to use the payment media to make transaction requests.

3. The method of claim 2, wherein the transaction request is initiated by the client with use of the payment media, and wherein the merchant receives the payment media from the client as a form of payment.

4. The method of claim 2, wherein the merchant provides one or more items for purchase to the client, and wherein the merchant comprises a transaction device that allows the client to purchase the one or more items with the payment media.

5. The method of claim 2, wherein the client account comprises a checking account, and wherein the payment media comprises a debit card linked to the checking account.

6. The method of claim 1, further comprising maintaining a plurality of accounts including the client account and a merchant account related to the merchant, wherein the client account includes financial information related to the client, and wherein the merchant account includes financial information related to the merchant.

7. The method of claim 1, further comprising storing information related to the client as part of the client account including the spending parameters.

8. The method of claim 1, further comprising:

notifying the merchant if the transaction request is approved; and

notifying the merchant if the transaction request is denied.

9. The method of claim 1, further comprising:

notifying the merchant if the merchant category code for the merchant is indicated as acceptable by the client; and

notifying the merchant if the merchant category code for the merchant is indicated as unacceptable by the client.

10. The method of claim 1, wherein an unacceptable merchant category code for the merchant comprises at least one of adult, gaming, and gambling.

11. A system for facilitating electronic commerce over a network, the system comprising:

a first component adapted to receive a transaction request from a merchant on behalf of a client;

a second component adapted to;

access a client account associated with the client based on information passed with the transaction request;

review spending parameters stored as part of the client account, the spending parameters indicating acceptable merchant category codes for client approved merchants;

compare a merchant category code for the merchant with the acceptable merchant category codes of the spending parameters;

approve the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an acceptable merchant category code of the spending parameters; and

deny the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an unacceptable merchant category code of the spending parameters.

12. The system of claim 11, the second component further adapted to:

establish the client account with the client;

receive monetary funds from the client for deposit into the client account;

configure the spending parameters based on input from the client;

issue a payment media to the client; and

allow the client to use the payment media to make transaction requests.

13. The system of claim 12, wherein the transaction request is initiated by the client with use of the payment media, and wherein the merchant receives the payment media from the client as a form of payment.

14. The system of claim 12, wherein the merchant provides one or more items for purchase to the client, and wherein the merchant comprises a transaction device that allows the client to purchase the one or more items with the payment media.

15. The system of claim 12, wherein the client account comprises a checking account, and wherein the payment media comprises a debit card linked to the checking account.

16. The system of claim 11, the second component further adapted to:

maintain a plurality of accounts including the client account and a merchant account related to the merchant,

wherein the client account includes financial information related to the client, and

wherein the merchant account includes financial information related to the merchant.

17. The system of claim 11, further comprising a third component adapted to store information related to the client as part of the client account including the spending parameters.

18. The system of claim 11, the second component further adapted to:

notify the merchant if the transaction request is approved; and

notify the merchant if the transaction request is denied.

19. The system of claim 11, the second component further adapted to:

notify the merchant if the merchant category code for the merchant is indicated as acceptable by the client; and

notify the merchant if the merchant category code for the merchant is indicated as unacceptable by the client.

20. The system of claim 11, wherein an unacceptable merchant category code for the merchant comprises at least one of adult, gaming, and gambling.

21. Software encoded in at least one computer readable medium and when executed operable to:

receive a transaction request from a merchant on behalf of a client;

access a client account associated with the client based on information passed with the transaction request;

review spending parameters stored as part of the client account, the spending parameters indicating acceptable merchant category codes for client approved merchants;

compare a merchant category code for the merchant with the acceptable merchant category codes of the spending parameters;

approve the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an acceptable merchant category code of the spending parameters; and

deny the transaction request between the merchant and the client if the merchant category code for the merchant is determined to be an unacceptable merchant category code of the spending parameters.

22. The software of claim 21, further operable to:

establish the client account with the client;

receive monetary funds from the client for deposit into the client account;

configure the spending parameters based on input from the client;

issue a payment media to the client; and

allow the client to use the payment media to make transaction requests.