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LIMITING TOKEN COLLABORATION NETWORK USAGE BY TOKEN

  • US 20150254658A1
  • Filed: 03/04/2014
  • Published: 09/10/2015
  • Est. Priority Date: 03/04/2014
  • Status: Abandoned Application
First Claim
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1. An apparatus for use in a token based financial transaction system, whereby the apparatus applies transaction sensitive limits to a proposed financial transaction for purposes of approving or denying the proposed financial transaction, whereby the transaction sensitive limits are associated with a token used to enter into the proposed financial transaction, the apparatus comprising:

  • a memory;

    a computing processor; and

    a module stored in memory, said module comprising instruction code executable by one or more computing processors, and configured to cause the one or more computing processors to;

    receive from a user a request to execute a financial transaction using the token as a replacement for account information from which funds are provided to pay for the financial transaction;

    receive transaction information associated with the request to execute the financial transaction;

    determine one or more limits associated with the token, wherein the one or more limits define which financial transactions will be authorized;

    process the request to execute the transaction, wherein processing the request includes determining if the one or more limits associated with the token are met based on the transaction information;

    allow the transaction in response to determining when the one or more limits are met; and

    deny the transaction in response to determining when the one or more limits fail to be met.

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