TRANSACTION PROCESSING

• US 20120330839A1
• Filed: 06/25/2012
• Published: 12/27/2012
• Est. Priority Date: 06/27/2001
• Status: Active Grant

• Current Assignee: Orbiscom Limited (MasterCard Incorporated)
• Original Assignee: Orbiscom Limited (MasterCard Incorporated)
• Inventors: Kavanagh, Stephen, Clarke, Conor, Brosnan, Patrick, Guilfoyle, Kleron
• Granted Patent: US 8,639,623 B2
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06F 16/21 Design, administration or maintenance of databases
• CPC Class Codes: G06K 19/00 Record carriers for use with machines and with at least a part designed to carry digital markings
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/08 Payment architectures
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/305 using wired telephone networks
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/354 Card activation or deactivation
• 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 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/08 : by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/122 : Online card verification

Abstract

A transaction processing system for the real time authorization of payment transactions, The system comprises a verification system (4) connected to an issuer card management system (3). A cardholder can access the system via an interface (2) which can be for example the Internet, a wireless device, telephone, or a branch visit. The interface allows the cardholder to input rules governing how their credit card transactions are to be authorized. When the cardholder initiates a purchase transaction with their credit card, an authorization request is passed from the card network to the verification system which executes the rules created by the cardholder in order to approve or deny the transaction.

Claims

1. A system for processing requests to authorize financial transactions, comprising:

a receiver configured to receive authorization requests for financial transactions;

a database configured to store a plurality of cardholder rules;

a processor configured to identify a positive or negative authorization response based on the received authorization requests, the processor comprising

a setup module configured to

select a template, wherein the template specifies at least one action and at least one notification;

populate a template with information to identify a cardholder rule, wherein the information includes at least transaction data, relational operators, values, and logical operators;

select at least one cardholder rule; and

associate the at least one template rule with a customer

an authorization module configured to dynamically retrieve the at least one cardholder rule associated with a customer of each received authorization request on a per-transaction basis, for applying the retrieved at least one cardholder rule to the corresponding authorization request, and for implementing the action and the notification specified in the at least one cardholder rule; and

a transmitter configured to transmit the identified positive or negative authorization response.

2. The system of claim 1, wherein

the database is configured to store system rules which apply to all transactions and product rules which apply to groups of cards,

the database is configured to index stored cardholder rules based on an associated card number, and

the authorization module is further configured to retrieve the system rules and the product rules and to successively apply the system, product, and cardholder rules upon the receipt of an authorization request.

3. The system of claim 1, wherein the setup module is further configured to enable a user to define a template.

4. The system of claim 1, wherein the cardholder rules are stored in a format which does not require parsing of logical string-based expressions for processing.

5. The system of claim 1, wherein the authorization module is further configured to receive confirmation of authorization from a customer in response to a notification.

6. The system of claim 1, further comprising:

a network interface for a card payment network; and

a card management system interface for an issuer card management system.

7. The system of claim 5, wherein the network interface and the card management system interface each include a communication header module configured to convert received messages into a standardized data sequence of bytes.

8. The system of claim 6, wherein the network interface and the card management system interface each include a protocol header module configured to convert the standardized data sequence of bytes into an internal format for processing.

9. The system of claim 7, wherein the communication header module and the protocol header module are further configured to sequentially check for, receive, convert, and route messages and data.

10. The system of claim 7, wherein the communication header module and the protocol header module are further configured to route transaction requests and responses between the card payment network and the issuer card management system.

11. The system of claim 1, wherein the transmitter is further configured to transmit at least one of a notification to at least one of the user or the corresponding customer once a possible fraud is detected and an authorization response to the corresponding customer.

12. The system of claim 1, wherein the setup module is further configured to provide at least one of an online banking interface and an automated teller machine interface.

13. The system of claim 1, wherein the receiver is further configured to receive a cardholder request that a payment card be deactivated.

14. The system of claim 1, wherein the receiver is further configured to receive a short message service (SMS) message from a cardholder to deactivate a payment card.

15. A method for processing requests to authorize financial transactions, comprising:

receiving, by a receiving device, authorization requests for financial transactions;

storing, in a database, a plurality of cardholder rules;

identifying, by a processor, a positive or a negative authorization response based on the received authorization requests, wherein identifying the positive or the negative authorization response includes

selecting a template, wherein the template specifies at least one action and at least one notification,

populating a template with information to identify a cardholder rule, wherein the information includes at least transaction data, relational operators, values, and logical operators,

selecting at least one cardholder rule,

associating the at least one cardholder rule with a customer,

dynamically retrieving the at least one cardholder rule associated with a customer of each received authorization request on a per-transaction basis,

applying the retrieved at least one cardholder rule to the corresponding authorization request,

implementing the action and the notification specified in the retrieved at least one cardholder rule; and

transmitting, by a transmitting device, the identified positive or negative authorization response.

16. The method of claim 15, further comprising:

storing, in the database, system rules which apply to all transactions and product rules which apply to groups of cards,

indexing, in the database, stored cardholder rules based on an associated card number,

retrieving the system rules and the product rules, and

successively applying the system, product, and cardholder rules upon the receipt of an authorization request.

17. The system of claim 15, wherein selecting a template includes the defining of a template by a user.

18. The method of claim 15, further comprising storing the cardholder rules in a format which does not require parsing of logical string-based expressions for processing.

19. The method of claim 15, further comprising receiving confirmation of authorization from a customer in response to a notification.

20. The method of claim 15, further comprising:

interfacing, by a network interface, a card payment network, and

interfacing, by a card management system, an issuer card management system.

21. The method of claim 20, further comprising converting received messages into a standardized data sequence of bytes.

22. The method of claim 21, further comprising converting the standardized data sequence of bytes into an internal format for processing.

23. The method of claim 20, further comprising routing transaction requests and responses between the card payment network and the issuer card management system.

24. The method of claim 20, further comprising transmitting at least one of a notification to at least one of a user or the corresponding customer once a possible fraud is detected and an authorization response to the corresponding customer.

25. The method of claim 20, further comprising providing at least one of an online banking interface and an automated teller machine interface.

26. The method of claim 20, further comprising receiving a cardholder request that a payment card be deactivated.

27. The method of claim 20, further comprising receiving a short message service (SMS) message from a cardholder to deactivate a payment card.

28. A non-transitory computer readable storage medium encoded with instructions that, when executed by a computer, cause the computer to execute the steps of:

selecting a template, wherein the template specifies at least one action and at least one notification;

populating a template with information to identify a cardholder rule, wherein the information includes at least transaction data, relational operators, values, and logical operators;

selecting at least one cardholder rule;

associating the at least one cardholder rule with a customer;

dynamically retrieving the at least one cardholder rule associated with a customer of each at least one received authorization request on a per-transaction basis;

applying the retrieved at least one cardholder rule to the corresponding authorization request;

implementing the action and the notification specified in the retrieved at least one cardholder rule;

transmitting, by a transmitting device, an identified positive or negative authorization response.