METHOD AND SYSTEM FOR OPTIMIZING AUTHENTICIATION PROCESSES IN PAYMENT TRANSACTIONS
First Claim
1. A method for identifying a level of authentication, comprising:
- storing, in a rules database, a plurality of authentication processes, wherein each authentication process is associated with one or more transaction characteristics;
storing, in an account database, a plurality of account profiles, wherein each account profile includes data related to a payment account including at least account data and an account identifier;
receiving, by a receiving device, an authorization request for a payment transaction, wherein the authorization request includes at least transaction data and a specific account identifier;
identifying, in the rules database, at least two eligible authentication processes based on a correspondence between the one or more transaction characteristics associated with the respective authentication process and the transaction data included in the received authorization request;
identifying, by a processing device, a specific account profile where the included account identifier corresponds to the specific account identifier;
estimating, by the processing device, a profitability value of the transaction based on at least the transaction data included in the received authorization request;
estimating, by the processing device, an account purchase elasticity value based on at least the account data included in the identified specific account profile; and
selecting, by the processing device, one or more authentication processes of the identified at least two eligible authentication process based on at least the estimated profitability value and estimated account purchase elasticity value.
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Abstract
A method for identifying a level of authentication includes: storing a plurality of authentication processes, each tool being associated with transaction characteristics; storing a plurality of account profiles, each profile including account data and an account identifier; receiving an authorization request for a payment transaction, the request including transaction data and a specific account identifier; identifying at least two eligible authentication processes based on the transaction characteristics for the respective tool and the transaction data; identifying a specific account profile that includes the specific account identifier; estimating a profitability value of the transaction based on the transaction data; estimating an account purchase elasticity value based on the account data included in the identified specific account profile; and selecting one or more authentication processes of the identified at least two eligible authentication processes based on the estimated profitability and account purchase elasticity values.
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Citations
20 Claims
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1. A method for identifying a level of authentication, comprising:
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storing, in a rules database, a plurality of authentication processes, wherein each authentication process is associated with one or more transaction characteristics; storing, in an account database, a plurality of account profiles, wherein each account profile includes data related to a payment account including at least account data and an account identifier; receiving, by a receiving device, an authorization request for a payment transaction, wherein the authorization request includes at least transaction data and a specific account identifier; identifying, in the rules database, at least two eligible authentication processes based on a correspondence between the one or more transaction characteristics associated with the respective authentication process and the transaction data included in the received authorization request; identifying, by a processing device, a specific account profile where the included account identifier corresponds to the specific account identifier; estimating, by the processing device, a profitability value of the transaction based on at least the transaction data included in the received authorization request; estimating, by the processing device, an account purchase elasticity value based on at least the account data included in the identified specific account profile; and selecting, by the processing device, one or more authentication processes of the identified at least two eligible authentication process based on at least the estimated profitability value and estimated account purchase elasticity value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for identifying a level of authentication, comprising:
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a rules database configured to store a plurality of authentication processes, wherein each authentication process is associated with one or more transaction characteristics; an account database configured to store a plurality of account profiles, wherein each account profile includes data related to a payment account including at least account data and an account identifier; a receiving device configured to receive an authorization request for a payment transaction, wherein the authorization request includes at least transaction data and a specific account identifier; and a processing device configured to identify, in the rules database, at least two eligible authentication processes based on a correspondence between the one or more transaction characteristics associated with the respective authentication process and the transaction data included in the received authorization request, identify a specific account profile where the included account identifier corresponds to the specific account identifier, estimate a profitability value of the transaction based on at least the transaction data included in the received authorization request, estimate an account purchase elasticity value based on at least the account data included in the identified specific account profile, and select one or more authentication processes of the identified at least two eligible authentication processes based on at least the estimated profitability value and estimated account purchase elasticity value. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification