System and method for securing a credit account

• US 8,074,879 B2
• Filed: 06/22/2010
• Issued: 12/13/2011
• 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:
  US12/803,219
• Publication Number:
  US 20100268647A1
• Time in Patent Office: 539 Days
• Field of Search: 235379-3825, 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; and

memory for storing said data and said code, said data and said code together including

a merchant communications module operative to facilitate a connection with said merchant for receiving a transaction approval request (TAR),

activation data accessible to an account-holder, said activation data indicative of the activation status of an account associated with said account-holder and with said account information,

an interactive activation module operative to establish a connection with said account-holder, to receive instructions from said account-holder to modify said activation data, and to modify said activation data according to said instructions received from said account-holder, and

an authorization module responsive to said TAR and operative to deny said TAR if said account associated with said account-holder is deactivated; and

wherein

prior to said user initiating said transaction with said merchant, said interactive activation module establishes a first connection with said account-holder, receives activation instructions from said account-holder to activate said account, and modifies said activation data to activate said account, said account being previously deactivated, thereby facilitating approval of said TAR;

subsequent to receipt of said TAR, said interactive activation module establishes a second connection with said account-holder, receives deactivation instructions from said account-holder to deactivate said account, and modifies said activation data to deactivate said account such that subsequent TARs will be denied; and

in the absence of said deactivation instructions, said account remains activated such that subsequent TARs may be approved.

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

said activation data includes at least one activation condition; and

said authorization module is operative to approve said TAR only if said TAR satisfies said activation condition.

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

said activation condition comprises an activation date and time corresponding to a date and time that said instructions to activate said account were received from said account-holder; and

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

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

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

said authorization module is operative to approve said TAR only if said TAR 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 corresponding to a date and time that said instructions to deactivate said account were received from said account-holder; and

said authorization module is operative to approve said TAR only if said purchase date and time contained in said TAR falls after said activation date and time and before said deactivation date and time.

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

said activation data includes a second activation condition defining a reactivation date and time corresponding to a date and time that reactivation instructions to reactivate said account were received from said account-holder; and

said authorization module is operative to approve said TAR only if said purchase date and time contained is said TAR falls after said 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 activation data further includes at least one automatic activation or deactivation criteria determined by said account-holder; and

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

8. A computer system according to claim 7, wherein:

said automatic deactivation criteria facilitates deactivation of said account if a predetermined number of TARs are received within a predetermined time period, said predetermined number of TARs determined by said account-holder; and

said authorization module is operative to automatically 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 TARs is reached.

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

said code further includes an account-holder communications module operative to facilitate a separate connection with said account-holder for verifying said TAR; and

said authorization module is further operative to transmit an approval to said merchant only if said TAR is verified by said account-holder.

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

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

said authorization module is operative to transmit an approval to said merchant only if said TAR is verified; and

said authorization module is further operative to compare said TAR with said at least one pre-verification criteria, and to automatically verify said TAR without verifying said TAR with said account-holder if said at least one pre-verification criteria is satisfied.

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

said interactive activation module establishes said first connection with said account-holder responsive to receiving a first connection request from said account-holder; and

said interactive activation module establishes said second connection with said account-holder responsive to receiving a second connection request from said account-holder, said second connection request received after said first connection with said account-holder has been terminated.

12. A computer system according to claim 1, wherein each time said account is activated, said account remains activated indefinitely until said account is deactivated by said account-holder.

13. A computer system according to claim 12, wherein each time said account is activated, the duration that said account is activated is determined at the time said account is deactivated by said account-holder.

14. A computer system according to claim 1, wherein said user is said account-holder.

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

establishing a first connection with said account-holder responsive to receiving a first connection request from said account-holder;

receiving, via said first connection, activation instructions from said account-holder to temporarily activate an account associated with said account-holder and said account information, said account being previously deactivated;

modifying activation data associated with said account to activate said account in response to receiving said activation instructions;

receiving a transaction approval request (TAR) from said merchant, said TAR indicative of a commercial transaction between said user and said merchant;

establishing a second connection with said account-holder responsive to receiving a second connection request from said account-holder;

receiving deactivation instructions from said account-holder to again deactivate said account, said deactivation instructions being received via said second connection and subsequent to said TAR and said activation instructions;

modifying said activation data to deactivate said account in response to receiving said deactivation instructions;

determining whether said account was deactivated at a time associated with said TAR; and

denying said TAR if said account was deactivated at said time associated with said TAR.

16. A method according to claim 15, further comprising:

storing the dates and times that said activation instructions and said deactivation instructions were received; and

wherein

said step of determining whether said account was temporarily deactivated includes comparing a purchase date and time included in said TAR with said dates and times that said activation instructions and said deactivation instructions were received; and

said step of denying said TAR includes denying said TAR if said purchase date and time is before said date and time that said activation instructions were received or after said date and time that said deactivation instructions were received.

17. A method according to claim 16, further comprising:

establishing a third connection with said account-holder responsive to receiving a third connection request from said account-holder;

receiving reactivation instructions from said account-holder to again activate said account, said reactivation instructions being received via said third connection and subsequent to receipt of said deactivation instructions;

modifying said activation data to reactivate said account in response to said reactivation instructions; and

storing the date and time that said reactivation instructions were received.

18. A method according to claim 17, further comprising:

receiving a second TAR from a second merchant, said second TAR indicative of a transaction between said user and said second merchant;

determining whether said account was reactivated at a time associated with said second TAR; and

approving said second TAR only if said account was reactivated at said time associated with said second TAR.

19. A method according to claim 18, wherein:

said step of determining whether said account was reactivated includes comparing a purchase date and time included in said second TAR with said date and time that said reactivation instructions were received; and

said step of approving said second TAR includes approving said second TAR only if said purchase date and time of said second TAR is after said date and time that said reactivation instructions were received.

20. A method according to claim 15, further comprising:

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

automatically deactivating said account when said at least one deactivation criteria is met.

21. A method according to claim 20, wherein:

said at least one deactivation criteria includes receiving a predetermined number of TARs; and

said step of automatically temporarily deactivating said account includes deactivating said account after the receipt of said predetermined number of TARs.

22. A method according to claim 15, further comprising:

establishing a separate connection with said account-holder;

verifying said TAR with said account-holder via said separate connection; and

approving said TAR only if said TAR is verified.

23. A method according to claim 15, further comprising:

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

comparing said TAR with said at least one pre-verification criteria;

automatically verifying said TAR without input from said account-holder if said at least one pre-verification criteria is satisfied; and

approving said TAR only if said TAR is verified.

24. A method according to claim 15, wherein each time said account is activated, said account remains activated indefinitely until said account is deactivated by said account-holder.

25. A method according to claim 24, wherein each time said account is activated, the duration that said account is activated is determined at the time said account is deactivated by said account-holder.

26. A method according to claim 15, wherein said user is said account-holder.

27. A non-transitory, electronically-readable storage medium having code embodied therein for causing an electronic device to perform a method of facilitating commercial transactions between a user with account information and a merchant, said method comprising the steps of:

establishing a first connection with said account-holder responsive to receiving a first connection request from said account-holder;

receiving, via said first connection, activation instructions from said account-holder to temporarily activate an account associated with said account-holder and said account information, said account being previously deactivated;

modifying activation data associated with said account to activate said account in response to receiving said activation instructions;

receiving a transaction approval request (TAR) from said merchant, said TAR indicative of a commercial transaction between said user and said merchant;

establishing a second connection with said account-holder responsive to receiving a second connection request from said account-holder;

receiving deactivation instructions from said account-holder to again deactivate said account, said deactivation instructions being received via said second connection and subsequent to said TAR and said activation instructions;

modifying said activation data to deactivate said account in response to receiving said deactivation instructions;

determining whether said account was deactivated at a time associated with said TAR; and

denying said TAR if said account was deactivated at said time associated with said TAR.

28. A non-transitory, electronically-readable storage medium according to claim 27, wherein:

said method further includes the step of storing the dates and times that said activation instructions and said deactivation instructions were received;

said step of determining whether said account was temporarily deactivated includes comparing a purchase date and time included in said TAR with said dates and times that said activation instructions and said deactivation instructions were received; and

said step of denying said TAR includes denying said TAR if said purchase date and time is before said date and time that said activation instructions were received or after said date and time that said deactivation instructions were received.

29. A non-transitory, electronically-readable storage medium according to claim 28, wherein said method further includes the steps of:

establishing a third connection with said account-holder responsive to receiving a third connection request from said account-holder;

receiving reactivation instructions from said account-holder to again activate said account, said reactivation instructions being received via said third connection and subsequent to receipt of said deactivation instructions;

modifying said activation data to reactivate said account in response to said reactivation instructions; and

storing the date and time that said reactivation instructions were received.

30. A non-transitory, electronically-readable storage medium according to claim 29, wherein said method further includes the steps of:

receiving a second TAR from a second merchant, said second TAR indicative of a transaction between said user and said second merchant;

determining whether said account was reactivated at a time associated with said second TAR; and

approving said second TAR only if said account was reactivated at said time associated with said second TAR.

31. A non-transitory, electronically-readable storage medium according to claim 30, wherein:

said step of determining whether said account was reactivated includes comparing a purchase date and time included in said second TAR with said date and time that said reactivation instructions were received; and

said step of approving said second TAR includes approving said second TAR only if said purchase date and time of said second TAR is after said date and time that said reactivation instructions were received.

32. A non-transitory, electronically-readable storage medium according to claim 27, wherein said method further includes the steps of:

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

automatically deactivating said account when said at least one deactivation criteria is met.

33. A non-transitory, electronically-readable storage medium according to claim 32, wherein:

said at least one deactivation criteria includes receiving a predetermined number of TARs; and

said step of automatically temporarily deactivating said account includes deactivating said account after the receipt of said predetermined number of TARs.

34. A non-transitory, electronically-readable storage medium according to claim 27, wherein said method further includes the steps of:

establishing a separate connection with said account-holder;

verifying said TAR with said account-holder via said separate connection; and

approving said TAR only if said TAR is verified.

35. A non-transitory, electronically-readable storage medium according to claim 27, wherein said method further includes the steps of:

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

comparing said TAR with said at least one pre-verification criteria;

automatically verifying said TAR without input from said account-holder if said at least one pre-verification criteria is satisfied; and

approving said TAR only if said TAR is verified.

36. A non-transitory, electronically-readable storage medium according to claim 27, wherein each time said account is activated, said account remains activated indefinitely until said account is deactivated by said account-holder.

37. A non-transitory, electronically-readable storage medium according to claim 36, wherein each time said account is activated, the duration that said account is activated is determined at the time said account is deactivated by said account-holder.

38. A non-transitory, electronically-readable storage medium according to claim 27, wherein said user is said account-holder.

39. 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; and

memory for storing said data and said code, said data and said code together including

means for facilitating a connection with said merchant and for receiving a transaction approval request (TAR),

activation data accessible to an account-holder and indicative of the activation status of an account associated with said account-holder,

means for communicating with said account-holder and for receiving instructions from said account-holder to modify said activation data;

means for modifying said activation data responsive to said instructions received from said account-holder, and

means, responsive to said TAR, for denying said TAR if said is deactivated; and

wherein

prior to said user initiating said transaction with said merchant, said means for communicating is operative to establish a first connection with said account-holder and receive activation instructions from said account-holder to activate said account;

responsive to said activation instructions, said means for modifying is operative to modify said activation data to activate said account thereby facilitating approval of said TAR, said account being previously deactivated;

subsequent to receipt of said TAR, said means for communicating is operative to establish a second connection with said account-holder and receive deactivation instructions from said account-holder to deactivate said account;

responsive to said deactivation instructions, said means for modifying is operative to modify said activation data to deactivate said account such that subsequent TARs will be denied; and

in the absence of said deactivation instructions, said account remains activated such that said subsequent TARs may be approved.