System and method for categorizing transactions

• US 7,437,330 B1
• Filed: 03/11/2005
• Issued: 10/14/2008
• Est. Priority Date: 09/20/2002
• Status: Expired due to Term

• Current Assignee: Open Invention Network LLC
• Original Assignee: YT Acquisition Corp.
• Inventors: Robinson, Timothy L., Schildt, Bradford R., Goff, Tennille V., Corwin, Daniel J., Watson, Timothy Neil
• Primary Examiner(s): Elisca, Pierre E
• Application Number:
  US11/076,892
• Time in Patent Office: 1,313 Days
• Field of Search: 705/67, 713/186
• US Class Current: 705/67
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3674 involving authentication
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence
• CPC Class Codes: G07C 9/27 with central registration

Abstract

A system and method of allowing individuals to categorize transaction information. A user of the system may establish transaction identifiers that may be employed during or subsequent to a transaction in order to categorize transaction information.

Claims

1. A method for categorizing a financial transaction in a biometric authorization system, said method comprising:

receiving a request for access to a user record that includes information on a plurality of financial transactions completed prior to said accessing, wherein at least one of said plurality of financial transactions has associated therewith a transaction category that was determined based on biometric data that was received at a point of sale;

receiving a transaction identifier that is associated with a transaction category;

categorizing a selected one of said plurality of financial transactions in accordance with said transaction identifier;

receiving an additional transaction identifier, wherein said additional transaction identifier further categorizes the selected financial transaction in a subcategory; and

saving said categorized financial transaction in said user record.

2. The method of claim 1, further comprising transmitting a prompt for said transaction identifier.

3. The method of claim 1, further comprising receiving one or more additional transaction identifiers, wherein said additional transaction identifiers are associated with different transaction categories.

4. The method of claim 1, wherein said categorizing comprises employing a transaction identifier to categorize an individual item of one or more items identified by financial transaction information.