SYSTEM AND METHOD FOR SECONDARY ACCOUNT HOLDER PAYMENT DEVICE CONTROL

• US 20170221058A1
• Filed: 02/02/2016
• Published: 08/03/2017
• Est. Priority Date: 02/02/2016
• Status: Abandoned Application

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Choudhary, Mohit, Khare, Prateek, Sonkar, Siddhant, Akkapeddi, Venkata Krishna Prasad
• Application Number:
  US15/013,830
• Publication Number:
  US 20170221058A1
• Time in Patent Office: Days
• CPC Class Codes: G06Q 20/2295 Parent-child type, e.g. where parent has control on child rights
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3255 using mobile network messaging services for payment, e.g. SMS
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/4015 using location information
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

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.

Claims

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.

2. The system of claim 1, wherein the geographic parameters include one or more of a path between two or more geographic locations, an area around one or more geographic locations, and an area around one or more geographic locations.

3. The system of claim 1, wherein the merchant parameters include one or more categories of merchants.

4. The system of claim 1, further comprising a primary account holder server for displaying a route planner interface and a threshold setting interface at a primary account holder computing device.

5. The system of claim 4, wherein the primary account holder server is further for sending the geographic parameters to the payment processing server from the route planner interface.

6. The system of claim 4, wherein the primary account holder server is further for sending the merchant parameters to the payment processing server from the threshold setting interface.

7. The system of claim 1, wherein the payment processing server is further for receiving a threshold parameter including one or more of a maximum transaction amount, a period threshold, a time limit, a transaction curfew, and a route error.

8. The system of claim 1, wherein the secondary account holder payment device includes one or more of a credit card or an NFC-enabled wearable.

9. The system of claim 1, wherein the payment processing server is further for sending a message to a primary account holder computing device in response to denying the payment for the transaction.

10. The system of claim 9, wherein the payment processing server is further for configuring the message to include data to approve or deny the payment for the transaction.

11. A computer-implemented method for controlling a secondary account holder payment device, the method comprising:

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.

12. The computer-implemented method of claim 11, wherein the geographic parameters include one or more of a path between two or more geographic locations, an area around one or more geographic locations, and an area around one or more geographic locations.

13. The computer-implemented method of claim 11, wherein the merchant parameters include one or more categories of merchants.

14. The computer-implemented method of claim 11, further comprising displaying a route planner interface and a threshold setting interface at a primary account holder computing device.

15. The computer-implemented method of claim 14, further comprising receiving the geographic parameters at a payment processing server from the route planner interface.

16. The computer-implemented method of claim 14, further comprising receiving the merchant parameters at a payment processing server from the threshold setting interface.

17. The computer-implemented method of claim 11, further comprising receiving a threshold parameter at a payment processing server from the threshold setting interface, the threshold parameter including one or more of a maximum transaction amount, a period threshold, a time limit, a transaction curfew, and a route error.

18. The computer-implemented method of claim 11, wherein the secondary account holder payment device includes one or more of a credit card or an NFC-enabled wearable.

19. The computer-implemented method of claim 11, further comprising sending a message to a primary account holder computing device in response to denying the payment for the transaction.

20. The computer-implemented method of claim 19, further comprising configuring the message to include data to approve or deny the payment for the transaction.