MOBILE COMMUNICATIONS MESSAGE VERIFICATION OF FINANCIAL TRANSACTIONS

• US 20120131121A1
• Filed: 07/30/2010
• Published: 05/24/2012
• Est. Priority Date: 07/31/2009
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Finsphere Corporation (Visa, Inc.)
• Inventors: Snyder, Randall A., Ginter, Thomas S.
• Granted Patent: US 9,818,121 B2
• Time in Patent Office: Days
• US Class Current: 709/206
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation

Abstract

A system and method for verifying a secure transaction by evaluating the transaction, generating a first verification value for the transaction, sending an electronic mobile message to a wireless device associated with the transaction, receiving a response from the wireless device to the electronic mobile message associated with the transaction and generating a new second verification value for the transaction based on the response is provided. The second verification value may be used to validate or invalidate the secure transaction.

Claims

1. A method of verifying a transaction comprising:

receiving a transaction verification request at a computerized mobile identity verification system, the transaction verification request including a wireless device ID and a transaction location;

evaluating the transaction with the mobile identity verification system based on the wireless device ID and the transaction location to generate a first verification value;

determining whether the first verification value meets a predetermined criterion;

sending a transaction verification message to the wireless device associated with the wireless device ID based on the determination of whether the first verification value met the predetermined criterion;

receiving a message response from a wireless device associated with the wireless device ID at the mobile identity verification system;

re-evaluating the transaction with the mobile identity verification system based on the message response to generate a second verification value;

electronically sending the second verification value to a transaction processor; and

performing an action based on the second verification value.

2. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a short message service (SMS) message.

3. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a multimedia message service (MMS) message.

4. The method for verifying a transaction according to claim 1, wherein the transaction verification message is an email message.

5. The method for verifying a transaction according to claim 1, wherein the transaction verification message is an instant message (IM).

6. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a mobile data message.

7. The method for verifying a transaction according to claim 1, wherein performing an action based on the second verification value includes displaying the second verification value to a user on a computerized device so that the transaction can be approved or rejected.

8. The method for verifying a transaction according to claim 1, wherein the action performed using the second verification value approves the transaction.

9. The method for verifying a transaction according to claim 1, wherein the action performed using the second verification value rejects the transaction.

10. The method for verifying a transaction according to claim 1, further comprising receiving configuration information including the predetermined criterion before determining whether the first verification value meets the predetermined criterion.

11. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a location of the transaction.

12. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a transaction amount.

13. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a transaction processor associated with the transaction.

14. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a transaction processor associated with the transaction, a location of the transaction, a transaction amount, and instructions for responding to the message.

15. The method for verifying a transaction according to claim 1, wherein generating the second verification value includes adding a predetermined value to the first verification value.

16. The method for verifying a transaction according to claim 15, wherein generating the second verification value includes limiting the second verification value to a predetermined maximum value level.

17. The method for verifying a transaction according to claim 1, wherein generating the second verification value includes subtracting a predetermined value from the first verification value.

18. The method for verifying a transaction according to claim 17, wherein generating the second verification value includes limiting the second verification value to a predetermined minimum value level.