System and method for consumer control over card-based transactions
First Claim
1. A system for controlling card-based transactions comprising:
- a first card that is associated with a plurality of second cards that correspond to a plurality of accounts at one or more issuing banks, wherein the first card includes an account number for performing a card-based transaction;
a transaction processing system associated with the first card and located between a merchant'"'"'s bank and the plurality of issuing banks, the transaction processing system being adapted to receive the card-based transaction from the merchant bank, and to perform the card-based transaction using one or more of the accounts by executing one or more rules associated with the first card and stored on a server hosting the transaction processing system; and
an interface to the transaction processing system that is accessible by a user for allowing the user to dynamically and selectively modify the one or more rules.
2 Assignments
0 Petitions
Accused Products
Abstract
A system and method for consumer control over card-based transactions and associated accounts. An interface is provided between a merchant or the merchant'"'"'s bank and the bank or banks at which the consumer has accounts for card-based transactions. The interface acts as an intermediary which is accessible to the consumer so that the consumer may place a variety of controls on card-based transactions. For example, multiple transaction cards may be linked to a single credit account with each card having a different credit limit. As another example, each transaction card may be restricted to a particular merchant. As yet another example, a consumer may link several credit and/or debit accounts to a single transaction card; the consumer may pre-select criteria to be utilized for directing charges for a particular transaction to be applied the different accounts. The consumer may access the interface via a web site or a telephone for making changes and receiving account information. Flexibility and control over the use of transaction cards is, therefore, provided for card-based transactions and for debit and credit accounts used in connection with such card-based transactions.
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Citations
9 Claims
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1. A system for controlling card-based transactions comprising:
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a first card that is associated with a plurality of second cards that correspond to a plurality of accounts at one or more issuing banks, wherein the first card includes an account number for performing a card-based transaction; a transaction processing system associated with the first card and located between a merchant'"'"'s bank and the plurality of issuing banks, the transaction processing system being adapted to receive the card-based transaction from the merchant bank, and to perform the card-based transaction using one or more of the accounts by executing one or more rules associated with the first card and stored on a server hosting the transaction processing system; and an interface to the transaction processing system that is accessible by a user for allowing the user to dynamically and selectively modify the one or more rules. - View Dependent Claims (2, 3, 4, 5)
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6. A method for controlling card-based transactions:
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issuing an account number that links a plurality of transaction cards corresponding to a plurality of accounts at one or more issuing banks, wherein the account number is presentable by a user to perform a card-based transaction; receiving the card-based transaction from a merchant'"'"'s bank at a server hosting a transaction processing system; determining how to process the card-based transaction based on one or more user-defined rules associated with the account number, wherein the one or more user-defined rules are stored on the server and are executed by the transaction processing system; performing the card-based transaction using one or more of the accounts based on the determined process; and providing an interface to the transaction processing system that is accessible by a user enabling the user to dynamically and selectively modify the one or more rules. - View Dependent Claims (7, 8, 9)
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Specification