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METHODS AND SYSTEMS FOR CONTROLLING AND MONITORING TOKEN SPEND

  • US 20200134622A1
  • Filed: 10/31/2019
  • Published: 04/30/2020
  • Est. Priority Date: 10/31/2018
  • Status: Active Application
First Claim
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1. A mobile device for applying token spend controls, the mobile device comprising:

  • a memory component that stores user spend data;

    an interactive interface that receives user input and communicates via a communication network; and

    a microprocessor, coupled to the memory component and the interactive interface, configured to perform the steps of;

    identifying a payment card associated with the mobile device;

    generating a unique token based at least in part on a combination of the payment card and the mobile device;

    identifying one or more spend limits and controls placed on the payment card that is specific to an authorized user of the payment card;

    tracking the payment card usage by the authorized user;

    generating and displaying, via the interactive interface, the payment card usage; and

    providing a notification when the payment card usage exceeds the one or more spend limits and controls.

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