SYSTEMS AND METHODS FOR VALIDATING MONETARY TRANSACTION USING LOCATION INFORMATION OF A USER

• US 20130232070A1
• Filed: 08/11/2012
• Published: 09/05/2013
• Est. Priority Date: 03/01/2012
• Status: Abandoned Application

• Current Assignee: Dinesh Sharma
• Original Assignee: Dinesh Sharma
• Inventors: SHARMA, DINESH
• Application Number:
  US13/572,615
• Publication Number:
  US 20130232070A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• 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

Abstract

The present invention in a preferred embodiment provides systems and methods for validating monetary transaction using location information of a user, wherein the system comprises,

• • a) a transaction validation server;
  • b) a location information server;
  • c) a data input device; and
  • d) a processing mechanism;
    wherein, a user shall provide transaction information using the data input device and geographical location information of the data input device which is stored in the location information server shall be compared against a geographical location information of a pre-registered user-owned electronic device, and wherein the geographical location information of a pre-registered user-owned electronic device is also stored in the location information server and based on the comparative results of the processing mechanism the transaction validation server shall validate or invalidate a monetary transaction.

Claims

1. A system for validating monetary transaction using location information of a user, wherein the system comprises,

a) a transaction validation server;

b) a location information server;

c) a data input device; and

d) a processing mechanism;

wherein, a user shall provide transaction information using the data input device and the geographical location information of the data input device which is already stored in the location information server shall be compared against the geographical location information of a pre-registered user-owned electronic device, and wherein the geographical location information of a pre-registered user-owned electronic device is also stored in the location information server and based on the comparative results of the processing mechanism the transaction validation server shall validate or invalidate a monetary transaction.

2. A system as claimed in claim 1, wherein said pre-registered user-owned electronic device is selected from a group comprising mobile device, mobile phone device, mobile locating device, pre-registered computing device, passive devices, active devices, smart devices, and any combination thereof.

3. A system as claimed in claim 1, wherein said pre-registered user-owned electronic device is electronic device adapted to relay its real-time geographic location information, by itself, or upon querying.

4. A system as claimed in claim 1, wherein said system comprising a reader adapted to read signals from said pre-registered user-owned electronic device.

5. A system as claimed in claim 1, wherein said pre-registered user-owned electronic device is a device with an embedded map-related application.

6. A system as claimed in claim 1, wherein said system comprising a retrievable database adapted to store registration information comprising at least a device identity along with a correlated user identity.

7. A system as claimed in claim 1, wherein said system comprising a location information server adapted to remotely communicate with said pre-registered user-owned electronic device in order to receive or retrieve its real-time location, said location information server being adapted to communicate with said processing mechanism.

8. A system as claimed in claim 1, wherein said system comprising a location information server adapted to store location information of data input device adapted to be used by said user to transact, said location information server being adapted to communicate with said processing mechanism.

9. A system as claimed in claim 1, wherein said system comprising a location information server adapted to receive or retrieve location information of data input device adapted to be used by said user to transact, said location information server being adapted to communicate with said processing mechanism.

10. A system as claimed in claim 1, wherein said processing mechanism comprising comparators adapted to compare said real-time pre-registered user-owned electronic device location with said location of said data input device where transaction is to be initiated in order to provide a confirmation of match in the event that said user, with said pre-registered electronic device, is within a pre-defined region of said data input device.

11. A system as claimed in claim 1, wherein said system comprising means to fetch IP address of said data input device in order to determine geographical location of said data input device.

12. A system as claimed in claim 1, wherein said system comprising means to fetch IP address of said pre-registered user-owned electronic device in order to determine location of said pre-registered user-owned electronic device.

13. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owned electronic device in relation to said pre-registered user-owned electronic device.

14. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owned electronic device, said rule creation engine being paired with a location information server so that rules in relation to each pre-defined and pre-registered user-owned electronic device may be individually defined and stored.

15. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for creating awareness areas or awareness regions.

16. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owned electronic device and said system further comprising means to receive or retrieve data from said rule creation engine to allow verifiable transactions, in accordance with rules in relation to each pre-defined and pre-registered user-owned electronic device.

17. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device in relation to said pre-registered user-owned electronic device.

18. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device in relation to pre-registered user-owned electronic device, said rule creation engine being paired with a location information server so that rules are individually defined and stored.

19. A system as claimed in claim 1, wherein said system comprising rule creation engine adapted to allow an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device in relation to pre-registered user-owned electronic device and said system further comprising means to receive or retrieve data from said rule creation engine to allow verifiable transactions.

20. A system as claimed in claim 1, wherein said system comprising an overriding mechanism adapted to allow a user to override said system in cases of emergency or theft of said pre-registered user-owned electronic device.

21. A system as claimed in claim 1, wherein said system comprising an overriding mechanism adapted to allow a user to override said system in cases of emergency or theft, said overriding mechanism being a PIN verified overriding mechanism.

22. A system as claimed in claim 1, wherein said pre-registered user-owned electronic device comprising identifiers adapted to identify real-time geographical location, said identifiers being selected from a group of identifiers consisting of latitude and longitude of the place, the Global Positioning System (GPS), Global System for Mobile Communications (GSM), Internet Protocol (IP) Address, Automatic Identification System (AIS), Real-time locating systems (RTLS), triangulation systems, and any combination thereof

23. A system as claimed in claim 1, wherein said system comprising a safety mode adapted to allow an authorised person to stop transactions in accordance with pre-determined levels or safety.

24. A method for validating monetary transaction using location information of a user, comprises the steps of,

a) providing transaction information by a user using a data input device;

b) retrieving or relaying geographical location information of the data input device from the stored information in the location information server;

c) retrieving or relaying geographical location information of a pre-registered user-owned electronic device;

d) storing of geographical location information of the data input device in the location information server;

e) storing of geographical location information of the pre-registered user-owned electronic device in the location information server;

f) matching the retrieved geographical location information of the data input device with the retrieved geographical location information of the pre-registered user-owned electronic device by a processing mechanism; and

g) validating or invalidating a monetary transaction by a transaction validation server based on the comparative result of the geographical location information of the data input device and the pre-registered user-owned electronic device;

wherein the data input device and the pre-registered user-owned electronic device may be same or different.

25. A method as claimed in claim 24, wherein said step of relaying real-time geographical location of a pre-registered user-owned electronic device comprising a step of relaying real-time geographical location of said pre-registered user-owned electronic device selected from a group comprising a mobile device, mobile phone device, a mobile locating device, computing device, and any combination thereof

26. A method as claimed in claim 24, wherein said step of relaying real-time geographical location of a pre-registered electronic device comprising a step of relaying real-time geographical location of a pre-registered user-owned electronic device, by itself, or upon querying.

27. A method as claimed in claim 24, wherein said step of relaying real-time geographical location of a pre-registered electronic device comprising a step of relaying real-time geographical location of a device selected from a group of pre-registered user-owned electronic devices consisting of passive devices, active devices, or smart devices.

28. A method as claimed in claim 24, wherein said method comprising a step of reading read signals from said pre-registered user-owned electronic device.

29. A method as claimed in claim 24, wherein said step of relaying real-time geographical location of a pre-registered user-owned electronic device comprising a step of relaying real-time geographical location of a device with an embedded map-related application.

30. A method as claimed in claim 24, wherein said method comprising a step of storing registration information comprising at least a device identity along with a correlated user identity, using a retrievable database .

31. A method as claimed in claim 24, wherein said method comprising a step of remotely communicating with said pre-registered user-owned electronic device in order to receive or retrieve its real-time location, using a location information server, said location information server being adapted to communicate with said processing mechanism.

32. A method as claimed in claim 24, wherein said method comprising a step of storing location information of data input device adapted to be used by said user to transact, using a location information server, said location information server being adapted to communicate with said processing mechanism.

33. A method as claimed in claim 24, wherein said method comprising a step of receiving or retrieving location information of data input device adapted to be used by said user to transact, using a location information server, said location information server being adapted to communicate with said processing mechanism.

34. A method as claimed in claim 24, wherein said step of validating a transaction, at said data input device comprising a step of pre-defining and pre-registering said data input device in terms of identity and location.

35. A method as claimed in claim 24, wherein said functions of receiving and retrieving and comparing being performed by a processing mechanism comprising a step of comparing real-time pre-registered user-owner electronic device location with said location of said data input device where transaction is to be initiated in order to provide a confirmation of match in the event that said user, with said pre-registered user-owner electronic device, is within a pre-defined region of said data input device.

36. A method as claimed in claim 24, wherein said method comprising a step of fetching IP address of said data input device in order to determine location of said data input device.

37. A method as claimed in claim 24, wherein said method comprising a step of fetching IP address of said pre-registered user-owner electronic device in order to determine location of said pre-registered user-owner electronic device.

38. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said method to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owner electronic device in relation to said pre-registered user-owner electronic device.

39. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owner electronic device, said rule creation engine being paired with a location information server so that rules in relation to each pre-defined and pre-registered user-owner electronic device may be individually defined and stored.

40. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for creating awareness areas or awareness regions.

41. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said pre-registered user-owner electronic device and said system further comprising means to receive or retrieve data from a rule creation engine to allow verifiable transactions, in accordance with rules in relation to each pre-defined and pre-registered user-owner electronic device.

42. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device in relation to said pre-registered user-owner electronic device.

43. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device, a rule creation engine being paired with a location information server so that rules in relation to each pre-defined and pre-registered user-owner electronic device may be individually defined and stored.

44. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised user of said system to create rules of distance or perimeter or locus of points for locations for said data input device and said system further comprising means to receive or retrieve data from said rule creation engine to allow verifiable transactions, in accordance with rules in relation to each pre-defined and pre-registered user-owner electronic device.

45. A method as claimed in claim 24, wherein said method comprising a step of allowing a user to override said system in cases of emergency or theft of said pre-registered user-owner electronic device, using an overriding mechanism.

46. A method as claimed in claim 24, wherein said method comprising a step of allowing a user to override said system in cases of emergency or theft, using an overriding mechanism, said overriding mechanism being a PIN verified overriding mechanism.

47. A method as claimed in claim 24, wherein said method comprising a step of providing identifiers for said pre-registered user-owner electronic device adapted to identify real-time geographical location, said identifiers being selected from a group of identifiers consisting of latitude and longitude of the place, the Global Positioning System (GPS), Global System for Mobile Communications (GSM), Internet Protocol (IP) Address, Automatic Identification System (AIS), Real-time locating systems (RTLS), triangulation systems, and any combination thereof.

48. A method as claimed in claim 24, wherein said method comprising a step of allowing an authorised person to stop transactions in accordance with pre-determined levels or safety.

49. A method as claimed in claim 24, wherein the data input device and the pre-registered user-owned electronic device are same.

50. A method as claimed in claim 24, wherein data the input device and the pre-registered user-owned electronic device are different.