SYSTEM AND METHOD FOR FINANCIAL TRANSACTION AUTHENTICATION USING TRAVEL INFORMATION

• US 20110208601A1
• Filed: 02/18/2011
• Published: 08/25/2011
• Est. Priority Date: 02/19/2010
• Status: Abandoned Application

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Finshpere Corporation
• Inventors: Wickert, Steven A., Reeder, Mary A., Pathria, Anu K., Ferguson, William M.
• Application Number:
  US13/030,794
• Publication Number:
  US 20110208601A1
• Time in Patent Office: Days
• US Class Current: 705/16
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network 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 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods for verifying a distant-from-home financial transaction related to a customer account based on travel indicators in earlier purchase transactions made by that customer.

Claims

1. A method in a computing system, comprising:

storing an indication of a pending travel event in a travel analysis platform, the indication of the travel event generated based on a travel-related financial transaction;

generating a current location of a user based on the stored indication of the travel event in the travel analysis platform;

receiving a current transaction authorization request from a point of service;

generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user, based on the indication of the travel event in the travel analysis program, are within a predetermined distance; and

transmitting to a bank, a request to communicate a transaction approval indication to the point of service that transmitted the current transaction authorization request.

2. The method of claim 1 comprising:

storing a plurality of travel transactions relating to a travel event;

determining travel characteristics for a user based on the stored transactions;

generating an indication of the pending travel event based on determined travel characteristics; and

populating the travel analysis platform based on the determined travel characteristics.

3. The method of claim 2 wherein the indication of a travel event is itinerary information.

4. The method of claim 3 comprising:

determining a carrier for the travel transaction;

comparing the location of the current transaction authorization request with a known destination of the determined carrier;

generating a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request.

5. The method of claim 4 comprising:

comparing the location of the current transaction authorization request with historic transaction information; and

transmitting an indication of transaction approval when the location of the current transaction authorization request matches historic transaction information.

6. The method of claim 5 comprising:

generating an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and

populating the travel analysis platform with the generated indication of pending travel.

7. The method of claim 6 comprising:

calculating a time period a user is in a location based on at least one of distance from an airport and time between flights.

8. The method of claim 1 wherein the monitored transactions are financial transactions using at least one of a bank card, online payment and mobile bill payment.

9. The method of claim 8 wherein travel characteristics are at least one of flight date, flight time, arrival location, and hotel location.

10. The method of claim 9 comprising:

estimating at least one of a distance and time of travel based on a price of an airline ticket; and

transmitting an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

11. The method of claim 1 comprising:

using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network, wherein the computerized verification further comprises at least one of a risk score indicator and a binary risk indicator; and

determining whether the transaction should be authorized.

12. A computing system configured to facilitate a transaction approval system, comprising:

a memory;

a module stored on the memory that is configured, when executed, to;

generate a travel itinerary in a travel analysis platform based on one or more travel-related financial transactions;

receive a current transaction authorization request;

predict a current location of a user based on the generated travel itinerary; and

transmit a transaction approval recommendation when a location of the received transaction authorization request and the predicted current location of the user are within a predetermined distance.

13. The computing system of claim 12 wherein the module is further configured, when executed, to:

receive a current transaction authorization request when a computerized verification system flags a current transaction.

14. The computing system of claim 13 wherein the module is further configured, when executed, to:

determine a carrier for the travel transaction;

compare the location of the current transaction authorization request with a known destination of the determined carrier; and

generate a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request.

15. The computing system of claim 12 wherein the module is further configured, when executed, to:

generate an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and

populate the travel analysis platform with the generated indication of pending travel.

16. The computing system of claim 12 wherein the module is further configured, when executed, to:

estimate at least one of a distance and a date of travel based on a price of an airline ticket; and

transmit an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

17. A computer-readable medium whose contents, when executed, cause a computing system to facilitate a transaction approval system, by performing a method comprising:

storing a received travel itinerary in a travel analysis platform;

determining a current location of a user based on the travel itinerary;

receiving a current transaction authorization request from a bank;

generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user are within a predetermined distance; and

providing the transaction approval indication to the bank that transmitted the current transaction authorization request.

18. The computer-readable medium of claim 17 comprising:

estimating a distance of travel based on a price of an airline ticket; and

providing an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

19. The computer-readable medium of claim 17 comprising:

using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network; and

determining whether the transaction should be authorized based on the transaction approval indication at the computerized payment network.

20. The computer-readable medium of claim 17 wherein the computer-readable medium is at least one of a memory in a computing device or a data transmission medium transmitting a generated signal containing the contents.