System and method for securing a credit account

• US 7,753,265 B2
• Filed: 08/28/2007
• Issued: 07/13/2010
• Est. Priority Date: 07/12/2004
• Status: Active Grant

• Current Assignee: Harris Intellectual Property, L.P.
• Original Assignee: Harris Intellectual Property, L.P.
• Inventors: Harris, David N.
• Primary Examiner(s): Le; Thien M.
• Assistant Examiner(s): TAYLOR, APRIL ALICIA
• Application Number:
  US11/895,837
• Publication Number:
  US 20070295801A1
• Time in Patent Office: 1,050 Days
• Field of Search: 235379-382, 705/39, 705/44
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A system and method is disclosed for verifying a commercial transaction between a card-holder, a merchant, and a credit card company. The card-holder makes a purchase with the merchant using a full credit card number. The merchant submits a transaction approval request for approval with the credit card company. The credit card company executes conventional credit approval of the transaction approval request, as well as verifies the transaction approval request with the card-holder. An approval is sent to the merchant only after the transaction approval request is both conventionally approved by the credit card company and verified by the card-holder. The card-holder, or the credit card company, may initiate verification of the transaction approval request. The transaction approval request can also be automatically verified if one or many pre-verification criteria is/are satisfied by data contained in the transaction approval request. The pre-verification criteria can be initially determined and/or modified by the card-holder. As another security feature, the card-holder may selectively activate and deactivate their credit card/account as desired. The credit card itself includes indicia of security measures.

Claims

1. A computer system for approving a commercial transaction between a user with account information and a merchant, said computer system comprising:

a processing unit for processing data and code;

memory for storing said data and said code;

a merchant interface operative to receive one or more transaction approval requests from one or more merchants;

an account-holder interface operative to establish a connection with an account-holder associated with a credit account, to authenticate said account-holder, to receive a series of activation and deactivation instructions from said account-holder, to store said instructions received from said account-holder, and to store a date and time said instructions were received from said account-holder, whereby said account-holder can repeatedly activate and deactivate said credit account; and

an authorization module operative to deny ones of said transaction approval requests initiated during periods of deactivation; and

wherein

said activation data further defines at least one automatic activation or deactivation criteria determined by said account holder;

said authorization module is operative to automatically change the activation status of said account based on said automatic activation or deactivation criteria;

said deactivation criteria causes deactivation of said account if a predetermined number of transaction approval requests are received within a given time period, said predetermined number of transaction approval requests determined by said account-holder; and

said authorization module is operative to deactivate said account by recording a date and time in said activation data corresponding to the date and time at which said predetermined number of transaction approval requests is reached.

2. A computer system according to claim 1, wherein:

said data includes activation data defining at least one activation condition, said activation data being accessible repeatedly to said account-holder for modification; and

said authorization module is operative to approve a particular one of said transaction approval requests only if said transaction approval request satisfies said activation condition.

3. A computer system according to claim 2, wherein:

said activation condition indicates an activation date and time corresponding to an initial activation of said account; and

said authorization module is operative to approve said transaction approval request only if a purchase date and time contained in said transaction approval request falls after said activation date and time.

4. A computer system according to claim 2, wherein:

said activation data further defines at least one deactivation condition; and

said authorization module is operative to approve said transaction approval request only if said transaction approval request satisfies said activation condition and does not satisfy said deactivation condition.

5. A computer system according to claim 4, wherein:

said deactivation condition comprises a deactivation date and time determined by said account-holder; and

said authorization module is operative to accept said transaction approval request only if a purchase date and time contained in said transaction approval request falls after said initial activation date and time and before said deactivation date and time.

6. A computer system according to claim 5, wherein:

said activation data defines a second activation condition indicative of a reactivation date and time determined by said account-holder; and

said authorization module is operative to approve said transaction approval request only if a purchase date and time contained is said transaction approval request falls after said initial activation date and time and before said deactivation date and time or falls after said reactivation date and time.

7. A computer system according to claim 1, wherein said account-holder interface is operative to communicate with said account-holder via telephone.

8. A computer system according to claim 1, wherein:

said account-holder interface further facilitates verification of pending transaction approval requests by said account-holder, and

said authorization module is further operative to, if said account associated with said account-holder is not deactivated, transmit an approval to said merchant only if said approval request is verified by said account-holder.

9. A computer system according to claim 1, wherein:

said data further includes at least one pre-verification criteria associated with said account-holder; and

said authorization module is further operative to, if said account associated with said account-holder is not deactivated, compare said transaction approval request with said at least one pre-verification criteria, and to automatically verify said transaction approval request without input from said account-holder if said at least one pre-verification criteria is satisfied.

10. In a computer system, a method for facilitating commercial transactions between a user with account information and a merchant, said method comprising:

receiving a series of separate communications from an account-holder associated with said account information, some of said communications including deactivation instructions and others of said communications including reactivation instructions, said deactivation instructions and said reactivation instructions defining interspersed periods of activation and deactivation of an account associated with said account information, said periods of activation and deactivation being defined by setting an indicator of the activation status of said account responsive to said deactivation instructions and said reactivation instructions;

receiving a transaction approval request from said merchant, said transaction approval request including data indicative of said account associated with said account information;

determining whether said transaction approval request was initiated during one of said periods of deactivation;

denying said transaction approval request if said transaction approval request was initiated during one of said periods of deactivation;

storing at least one automatic deactivation criteria associated with said account-holder; and

automatically temporarily deactivating said account associated with said account-holder when said at least one deactivation criteria is met; and

wherein

said at least one automatic deactivation criteria includes receiving a predetermined number of transaction approval requests; and

said step of automatically temporarily deactivating said account includes deactivating said account after the receipt of said predetermined number of transaction approval requests.

11. A method according to claim 10, further comprising storing said deactivation instructions.

12. A method according to claim 11, wherein said step of storing said deactivation instructions includes storing the dates and times said deactivation instructions were received from said account-holder.

13. A method according to claim 12, wherein:

said step of determining whether said transaction approval request was initiated during one of said periods of deactivation includes comparing a purchase date and time included in said transaction approval request with said date and time that said deactivation instructions were received; and

said step of denying said transaction approval request includes denying said transaction approval request if said purchase date and time is after said date and time that one of said deactivation instructions were received and before said date and said time a next one of said reactivation instructions is received.

14. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 13.

15. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 11.

16. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 12.

17. A method according to claim 10, further comprising storing said reactivation instructions from said account-holder.

18. A method according to claim 17, wherein said step of storing said reactivation instructions includes storing the date said reactivation instructions were received.

19. A method according to claim 18, wherein said step of storing said reactivation instructions includes storing the time said reactivation instructions were received from said account holder.

20. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 19.

21. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 18.

22. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 18.

23. A method according to claim 10, further comprising:

storing said deactivation instructions; and

storing said reactivation instructions.

24. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 23.

25. A method according to claim 10, wherein said predetermined number of transaction approval requests can be modified by said account-holder.

26. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 25.

27. A method according to claim 10, wherein said step of receiving instructions from said account-holder includes receiving said instructions via telephone.

28. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 27.

29. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 10.

30. A computer system for approving a commercial transaction between a user with account information and a merchant, said computer system comprising:

a processing unit for processing data and code;

memory for storing said data and said code;

a merchant interface operative to receive one or more transaction approval requests from one or more merchants;

an account-holder interface operative to receive a series of activation and deactivation instructions from an account-holder associated with a credit account, whereby said account-holder can repeatedly activate and deactivate said credit account; and

an authorization module operative to deny ones of said transaction approval requests initiated during periods of deactivation; and

wherein

said account-holder interface further facilitates verification of pending transaction approval requests by said account-holder, and

said authorization module is further operative to, if said account associated with said account-holder is not deactivated, transmit an approval to said merchant only if said approval request is verified by said account-holder.

31. A computer system according to claim 30, wherein:

said data includes activation data defining at least one activation condition, said activation data being accessible repeatedly to said account-holder for modification; and

said authorization module is operative to approve a particular one of said transaction approval requests only if said transaction approval request satisfies said activation condition.

32. A computer system according to claim 31, wherein:

said activation condition indicates an activation date and time corresponding to an initial activation of said account; and

said authorization module is operative to approve said transaction approval request only if a purchase date and time contained in said transaction approval request falls after said activation date and time.

33. A computer system according to claim 31, wherein:

said activation data further defines at least one deactivation condition; and

said authorization module is operative to approve said transaction approval request only if said transaction approval request satisfies said activation condition and does not satisfy said deactivation condition.

34. A computer system according to claim 33, wherein:

said deactivation condition comprises a deactivation date and time determined by said account-holder; and

said authorization module is operative to accept said transaction approval request only if a purchase date and time contained in said transaction approval request falls after said initial activation date and time and before said deactivation date and time.

35. A computer system according to claim 34, wherein:

said activation data defines a second activation condition indicative of a reactivation date and time determined by said account-holder; and

said authorization module is operative to approve said transaction approval request only if a purchase date and time contained is said transaction approval request falls after said initial activation date and time and before said deactivation date and time or falls after said reactivation date and time.

36. A computer system according to claim 30, wherein:

said activation data further defines at least one automatic activation or deactivation criteria determined by said account holder; and

said authorization module is operative to automatically change the activation status of said account based on said automatic activation or deactivation criteria.

37. A computer system according to claim 36, wherein:

said deactivation criteria causes deactivation of said account if a predetermined number of transaction approval requests are received within a given time period, said predetermined number of transaction approval requests determined by said account-holder; and

said authorization module is operative to deactivate said account by recording a date and time in said activation data corresponding to the date and time at which said predetermined number of transaction approval requests is reached.

38. A computer system according to claim 30, wherein said account-holder interface is operative to:

establish a connection with said account-holder;

authenticate said account-holder; and

receive instructions from said account-holder to modify activation data.

39. A computer system according to claim 38, wherein said account-holder interface is operative to communicate with said account-holder via telephone.

40. A computer system according to claim 38, wherein said account-holder interface is further operative to store said instructions received from said account-holder.

41. A computer system according to claim 40, wherein said account-holder interface is further operative to store the date and time said instructions were received from said account-holder.

42. A computer system according to claim 30, wherein:

said data further includes at least one pre-verification criteria associated with said account-holder; and

said authorization module is further operative to, if said account associated with said account-holder is not deactivated, compare said transaction approval request with said at least one pre-verification criteria, and to automatically verify said transaction approval request without input from said account-holder if said at least one pre-verification criteria is satisfied.

43. A computer system for approving a commercial transaction between a user with account information and a merchant, said computer system comprising:

a processing unit for processing data and code;

memory for storing said data and said code;

a merchant interface operative to receive one or more transaction approval requests from one or more merchants;

an account-holder interface operative to establish a connection with an account-holder associated with a credit account, to authenticate said account-holder, to receive a series of activation and deactivation instructions from said account-holder, to store said instructions received from said account-holder, and to store a date and time said instructions were received from said account-holder, whereby said account-holder can repeatedly activate and deactivate said credit account; and

an authorization module operative to deny ones of said transaction approval requests initiated during periods of deactivation; and

wherein

said account-holder interface further facilitates verification of pending transaction approval requests by said account-holder; and

said authorization module is further operative to, if said account associated with said account-holder is not deactivated, transmit an approval to said merchant only if said approval request is verified by said account-holder.

44. In a computer system, a method for facilitating commercial transactions between a user with account information and a merchant, said method comprising:

receiving a series of separate communications from an account-holder associated with said account information, some of said communications including deactivation instructions and others of said communications including reactivation instructions, said deactivation instructions and said reactivation instructions defining interspersed periods of activation and deactivation of an account associated with said account information, said periods of activation and deactivation being defined by setting an indicator of the activation status of said account responsive to said deactivation instructions and said reactivation instructions;

receiving a transaction approval request from said merchant, said transaction approval request including data indicative of said account associated with said account information;

determining whether said transaction approval request was initiated during one of said periods of deactivation;

denying said transaction approval request if said transaction approval request was initiated during one of said periods of deactivation;

establishing a separate connection with said account-holder responsive to receiving said transaction approval request from said merchant;

electronically verifying said transaction approval request with said account holder via said separate connection; and

approving said transaction approval request only if said transaction approval request is verified by said account-holder and said account is activated.

45. A method according to claim 44, further comprising storing said deactivation instructions.

46. A method according to claim 45, wherein said step of storing said deactivation instructions includes storing the dates and times said deactivation instructions were received from said account-holder.

47. A method according to claim 46, wherein:

said step of determining whether said transaction approval request was initiated during one of said periods of deactivation includes comparing a purchase date and time included in said transaction approval request with said date and time that said deactivation instructions were received; and

said step of denying said transaction approval request includes denying said transaction approval request if said purchase date and time is after said date and time that one of said deactivation instructions were received and before said date and said time a next one of said reactivation instructions is received.

48. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 47.

49. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 45.

50. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 46.

51. A method according to claim 44, further comprising storing said reactivation instructions from said account-holder.

52. A method according to claim 51, wherein said step of storing said reactivation instructions includes storing the date said reactivation instructions were received.

53. A method according to claim 52, wherein said step of storing said reactivation instructions includes storing the time said reactivation instructions were received from said account holder.

54. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 53.

55. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 51.

56. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 52.

57. A method according to claim 44, further comprising:

storing said deactivation instructions; and

storing said reactivation instructions.

58. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 57.

59. A method according to claim 44, further comprising:

storing at least one automatic deactivation criteria associated with said account-holder; and

automatically temporarily deactivating said account associated with said account-holder when said at least one deactivation criteria is met.

60. A method according to claim 59, wherein:

said at least one automatic deactivation criteria includes receiving a predetermined number of transaction approval requests; and

said step of automatically temporarily deactivating said account includes deactivating said account after the receipt of said predetermined number of transaction approval requests.

61. A method according to 60, wherein said predetermined number of transaction approval requests can be modified by said account-holder.

62. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 61.

63. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 59.

64. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 60.

65. A method according to claim 44, wherein said step of receiving instructions from said account-holder includes receiving said instructions via telephone.

66. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 65.

67. A method according to claim 44, further comprising:

storing at least one pre-verification criteria associated with said account-holder;

comparing said transaction approval request with said at least one pre-verification criteria; and

automatically verifying said transaction approval request without input from said account-holder if said at least one pre-verification criteria is satisfied and said account is activated.

68. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 67.

69. An electronically readable medium having code embodied therein for causing an electronic device to perform the method of claim 44.