METHOD FOR A PAYMENT CARDHOLDER TO CONTROL AND MANAGE THE USE OF A PAYMENT CARD

• US 20110202462A1
• Filed: 09/08/2009
• Published: 08/18/2011
• Est. Priority Date: 09/08/2008
• Status: Abandoned Application

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Keenan, Rob A.
• Application Number:
  US13/062,403
• Publication Number:
  US 20110202462A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/229 Hierarchy of users of accounts
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• 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 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for providing a payment cardholder with control over a payment card is provided herein, hi one respect, the method of the present invention uses a managing platform to configure a set of usage parameters for usage of the payment card. After that, the payment card is associated with the managing platform, and allows the payment cardholder to select one or more of the usage parameters. Based on the selected usage parameters, a set of cardholder parameters are associated with the payment card, and include defining rules for determining an acceptable transaction and an unacceptable transaction for the payment card. Then, the managing platform intercepts an authorization for each transaction of the payment card and identifies, based on the cardholder parameters, each of the transactions as being one of the acceptable transactions or the unacceptable transactions. Finally, a message notifies the payment cardholder of at least one of the unacceptable transactions.

Claims

1. A method for providing a payment cardholder with control over a payment card comprising:

configuring, through use of a managing platform, a set of usage parameters for usage of the payment card;

associating the payment card with said managing platform;

allowing the payment cardholder to select one or more of said usage parameters;

associating a set of cardholder parameters with the payment card based on said selected usage parameters, wherein said cardholder parameters include defining rules for each said selected usage parameter for determining an acceptable transaction and an unacceptable transaction for the payment card;

intercepting an authorization for each transaction of the payment card by said managing platform;

identifying, based on said cardholder parameters, each said transaction as being one of said acceptable transactions or said unacceptable transactions; and

notifying the payment cardholder, using a message, of at least one said unacceptable transactions.

2. The method of claim 1, further comprising declining said authorization for said transactions identified by said cardholder parameters as said unacceptable transactions.

3. The method of claim 2, wherein declining includes obtaining verification from said managing platform prior to declining said authorization for each said unacceptable transaction.

4. The method of claim 1, wherein said set of usage parameters includes any combination of one or more characteristics selected from the group consisting of:

a limit on aggregate transaction amounts over a specified time period;

a limit on a single transaction amount;

a maximum number of transactions in a specific time period;

a maximum number of transactions for specific types of transactions;

a maximum number of each specific type of transactions;

a limit on geographic use of the card;

a block on specific types of transactions;

a limit on geographic use of the payment card based on transaction type;

a limit on days of a week when a payment card may be used; and

, a limit on a time of day when a payment card may be used.

5. The method of claim 1, wherein said usage parameters are configured by a payment card issuer.

6. The method of claim 1, wherein said step of allowing the payment cardholder to select one or more of said usage parameters is conducted via said managing platform.

7. The method of claim 1, wherein delivery of said message includes any combination of one or more delivery methods selected from the group consisting of:

SMS, e-mail, instant messaging, real-time communication channel, and near real-time communication channels.

8. A method for providing a payment cardholder with control over a payment card comprising:

configuring, through use of a managing platform, a set of usage parameters for usage of the payment card;

associating the payment card with said managing platform;

allowing the payment cardholder to select one or more of said usage parameters;

associating a set of cardholder parameters with the payment card based on said selected usage parameters, wherein said cardholder parameters include defining rules for each said selected usage parameter for determining an acceptable transaction and an unacceptable transaction for the payment card;

intercepting an authorization for each transaction of the payment card by said managing platform;

identifying, based on said cardholder parameters, each said transaction as being one of said acceptable transactions or said unacceptable transactions; and

declining, through an automatic decline feature, at least one said authorization for said transaction identified by said cardholder parameters as one of said unacceptable transactions.

9. The method of claim 8, wherein said automatic decline feature requires verification from said managing platform prior to declining said authorization for each said transaction.

10. The method of claim 8, wherein said set of usage parameters includes any combination of one or more characteristics selected from the group consisting of:

a limit on aggregate transaction amounts over a specified time period;

a limit on a single transaction amount;

a maximum number of transactions in a specific time period;

a maximum number of transactions for specific types of transactions;

a maximum number of each specific type of transactions;

a limit on geographic use of the card;

a block on specific types of transactions;

a limit on geographic use of the payment card based on transaction type;

a limit on days of a week when a payment card may be used; and

, a limit on a time of day when a payment card may be used.

11. The method of claim 8, wherein said usage parameters are configured by a payment card issuer.

12. The method of claim 8, wherein said step of allowing the payment cardholder to select one or more of said usage parameters is conducted via said managing platform.

13. The method of claim 8, wherein delivery of said message includes selection based on any combination of one or more combination of delivery methods selected from the group consisting of:

SMS, e-mail, instant messaging, and other real-time and near real-time communication channels.

14. A method for providing a payment cardholder with the ability to manage a payment card comprising:

configuring, through use of a managing platform, a set of usage parameters for usage of the payment card;

associating the payment card with said managing platform;

allowing the payment cardholder to select one or more of said usage parameters;

associating a set of cardholder parameters with the payment card based on said selected usage parameters, wherein said cardholder parameters include defining rules for each said selected usage parameter for determining an acceptable transaction and an unacceptable transaction for the payment card;

intercepting each transaction of the payment card by said managing platform;

identifying, based on said cardholder parameters, each said transaction as being one of said acceptable transactions or said unacceptable transactions; and

displaying information on a set of selected transactions based on a set of all transactions for the payment card, using a user interface.

15. The method of claim 14, wherein said set of usage parameters includes any combination of one or more characteristics selected from the group consisting of:

a limit on aggregate transaction amounts over a specified time period;

a limit on a single transaction amount;

a maximum number of transactions in a specific time period;

a maximum number of transactions for specific types of transactions;

a maximum number of each specific type of transactions;

a limit on geographic use of the card;

a block on specific types of transactions;

a limit on geographic use of the payment card based on transaction type;

a limit on days of a week when a payment card may be used; and

,

a limit on a time of day when a payment card may be used.

16. The method of claim 14, wherein said usage parameters are configured by a payment card issuer.

17. The method of claim 14, wherein said step of allowing the payment cardholder to select one or more of said usage parameters is conducted via said managing platform.

18. The method of claim 14, wherein said user interface provides an analysis of said selected transactions.

19. The method of claim 18, wherein said analysis is based on any combination of one or more combination of characteristics selected from the group consisting of:

a transaction category, a specified time period, a specified payment card, a set of details for the transaction, and a comparison of transaction amounts and budgeted transaction amounts.

20. The method of claim 14, wherein said user interface provides a graphical display of said selected transactions.

21. The method of claim 20, wherein said display may be selected from the group consisting of:

a bar graph, a column graph, a pie graph, a line graph, a list, and combinations thereof.