SYSTEM AND METHOD FOR SECONDARY ACCOUNT HOLDER PAYMENT DEVICE CONTROL
First Claim
1. A secondary account holder payment device control system comprising:
- a payment processing server for receiving geographic parameters corresponding to a geographic area represented on a map and receiving merchant parameters indicating which of a plurality of merchants located within the geographic area are allowed to receive payment for a transaction using a secondary account holder payment device, wherein the geographic parameters and merchant parameters correspond to a primary account holder data profile;
a point of sale server for sending transaction data to the payment processing server, the transaction data including location data for the transaction, and a token indicating the primary account holder data profile;
wherein, in response to comparing the received transaction data to the received geographic parameters and merchant parameters, the payment processing server either approves or denies the payment for the transaction.
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Accused Products
Abstract
A computer-implemented system and method may allow primary account holders (e.g., parents) to select merchants along specific routes where a secondary account holder (e.g., child) would be able to use a payment device. Each of these merchants may be categorized to further allow a parent to approve or reject purchases with a particular merchant. Any attempt to consummate a financial transaction with such a device at a disallowed merchant or at a merchant outside the defined geo-zone would not go through and may trigger an alert message to the parent/primary account holder (e.g., an email, SMS, phone call, etc.). Furthermore, setting a threshold may enable a trigger to ask the parent for approval in case the child makes a transaction of an amount exceeding the threshold value.
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Citations
20 Claims
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1. A secondary account holder payment device control system comprising:
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a payment processing server for receiving geographic parameters corresponding to a geographic area represented on a map and receiving merchant parameters indicating which of a plurality of merchants located within the geographic area are allowed to receive payment for a transaction using a secondary account holder payment device, wherein the geographic parameters and merchant parameters correspond to a primary account holder data profile; a point of sale server for sending transaction data to the payment processing server, the transaction data including location data for the transaction, and a token indicating the primary account holder data profile; wherein, in response to comparing the received transaction data to the received geographic parameters and merchant parameters, the payment processing server either approves or denies the payment for the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer-implemented method for controlling a secondary account holder payment device, the method comprising:
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receiving geographic parameters corresponding to a geographic area represented on a map; receiving merchant parameters indicating which of a plurality of merchants located within the geographic area are allowed to receive payment for a transaction using a secondary account holder payment device; comparing transaction data from a merchant to the received geographic parameters and the received merchant parameters; and one of approving or denying payment for a transaction corresponding to the transaction data in response to comparing the transaction data to the received geographic parameters and the received merchant parameters. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification