Method and apparatus for consumer driven protection for payment card transactions

• US 8,725,601 B2
• Filed: 01/14/2009
• Issued: 05/13/2014
• Est. Priority Date: 11/21/2008
• Status: Active Grant

• Current Assignee: PSCU Financial Services Incorporated
• Original Assignee: PSCU Financial Services Incorporated
• Inventors: Ledbetter, Richard Howard, Ingram, Deborah Joy, LaProva, Suzanne Adrienne
• Primary Examiner(s): Glass, Shay S
• Application Number:
  US12/353,733
• Publication Number:
  US 20090164354A1
• Time in Patent Office: 1,945 Days
• Field of Search: 705/26
• US Class Current: 705/30
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Method and apparatus for facilitating a commercial transaction between an account holder and a merchant. The account holder has an account that is associated with respective account information. The account information includes at least one criterion for pre-authorizing a transaction. When the consumer initiates a purchase transaction, a transaction approval request is generated which includes information relating to the commercial transaction. A purchase approval entity compares the received transaction approval request to the account information to determine whether the at least one criterion for pre-authorizing the transaction is satisfied. The transaction approval request is denied when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied.

Claims

1. A method for one or more server to facilitate a commercial transaction between an account holder and a merchant, the method comprising the steps of:

the one or more server receiving from the account holder at least one criterion for pre-authorizing the commercial transaction, the at least one criterion comprising at least one of (i) at least one authorized merchant, (ii) an authorized monetary amount range per transaction, (iii) an authorized maximum monetary amount per transaction, and (iv) at least one authorized date per transaction, the at least one pre-authorized criterion comprising satisfaction of acceptance criteria of the commercial transaction before the commercial transaction is communicated to the account holder or a third party, the one or more server storing the received at least one criterion for pre-authorizing the commercial transaction;

the one or more server receiving a transaction approval request from the merchant, the transaction approval request including information relating to the commercial transaction;

the one or more server comparing the received transaction approval request to the received at least one pre-authorized criterion to determine whether the at least one criterion for pre-authorizing the transaction is satisfied; and

when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, the one or more server denies the transaction approval request without deactivating the account holder'"'"'s account, in the case of denial, the one or more server preventing (i) further communication from the one or more server to the account holder for verification of the denied transaction approval request and (ii) the further storage of the denied transaction approval request on the one or more server; and

when a determination is made that the at least one criterion for pre-authorizing the transaction is satisfied, the one or more server authorizes the transaction approval request.

2. The method of claim 1, wherein, when the one or more server makes the determination that the at least one criterion for pre-authorizing the transaction is not satisfied, the one or more server prevents further determinations regarding the denied transaction approval request from being made.

3. The method of claim 1, wherein the at least one criterion for pre-authorizing the commercial transaction stored by the one or more server is modifiable by the account holder.

4. The method of claim 1, wherein the one or more server denies all transaction approval requests for which no pre-authorizing criterion has been submitted by the account holder.

5. The method of claim 1, wherein the one or more server receives from the account holder at least three of said criterion for pre-authorizing the commercial transaction.

6. The method of claim 1, wherein the one or more server receives the at least one criterion for pre-authorizing the commercial transaction from the account holder via at least one of (i) an Interactive Voice Response system, and (ii) via a customer service.

7. The method of claim 1, wherein the at least one authorized date per transaction comprises date and time information.

8. The method of claim 1, wherein the at least one criterion for pre-authorizing the commercial transaction received from the account holder further comprises a locked status indicator, the locked status indicator indicating whether the account is available for particular transactions.

9. The method of claim 8, further comprising the step of the one or more server monitoring the account having a locked status.

10. The method of claim 1, further comprising the step of the one or more server receiving at least one additional transaction approval request, the at least one additional transaction approval request including information relating to a second commercial transaction.

11. The method of claim 10, wherein, after the one or more server receives the original commercial transaction approval request but prior to the one or more server receiving the at least one additional transaction approval request, the one or more server receives from the account holder a change of at least one of the stored criterion for pre-authorizing the commercial transaction.

12. The method of claim 11, further comprising the steps of:

the one or more server comparing the received at least one additional transaction approval request to the at least one changed stored criterion to determine whether the at least one changed stored criterion for pre-authorizing the second commercial transaction is satisfied; and

when a determination is made that the at least one of the stored criterion for pre-authorizing the second commercial transaction is not satisfied, the one or more server denying the at least one additional transaction approval request.

13. The method of claim 1, further comprising the step of the one or more server reporting to the merchant the denial of the non-pre-authorized transaction approval request.

14. The method of claim 13, further comprising the step of the one or more server notifying the account holder when the transaction approval request is denied.

15. A system for facilitating a first commercial transaction between a merchant and an account holder, comprising:

one or more servers configured to receive from the account holder at least one criterion for pre-authorizing the commercial transaction, the at least one criterion comprising at least one of (i) at least one authorized merchant, (ii) an authorized monetary amount range per transaction, (iii) an authorized maximum monetary amount per transaction, and (iv) at least one authorized date per transaction, the at least one pre-authorized criterion comprising satisfaction of acceptance criteria of the commercial transaction before the commercial transaction is communicated to the account holder or a third party, the one or more server storing the received at least one criterion for pre-authorizing the commercial transaction;

the one or more server being also configured to receive from the merchant a transaction approval request, the transaction approval request including information relating to the first commercial transaction;

the one or more server being further configured to compare the received transaction approval request to the received at least one pre-authorized criterion to determine whether the at least one criterion for pre-authorization is satisfied;

wherein the one or more server is further configured to deny the transaction approval request when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, without deactivating the account holder'"'"'s account, in the case of denial, the one or more server preventing (i) further communication from the one or more server to the account holder for verification of the denied transaction approval request and (ii) the further storage of the denied transaction approval request on the one or more server; and

wherein the one or more server is further configured to pre-authorize the transaction approval request when a determination is made that the at least one criterion for pre-authorizing the transaction is satisfied.

16. The system of claim 15, wherein, when the one or more server makes the determination that the at least one criterion for pre-authorizing the transaction is not satisfied, the one or more server is further configured to prevent further determinations regarding the transaction approval request from being made.

17. The system of claim 15, wherein the at least one criterion for pre-authorizing the commercial transaction stored by the one or more server is modifiable by the account holder.

18. The system of claim 15, wherein the one or more server denies all transaction approval requests for which no pre-authorizing criterion has been submitted by the account holder.

19. The system of claim 15, wherein the one or more server receives the at least one criterion for pre-authorizing the commercial transaction from the account holder via at least one of (i) an Interactive Voice Response system, and (ii) via a customer service representative.

20. The system of claim 15, wherein the at least one authorized date per transaction comprises date and time information.

21. The system of claim 15, wherein the at least one criterion for pre-authorizing the commercial transaction received from the account holder further comprises a locked status indicator, the locked status indicator indicating whether the account is available for particular transactions.

22. The system of claim 15, wherein the one or more server is further configured to receive at least one additional transaction approval request, the at least one additional transaction approval request including information relating to a second commercial transaction.

23. The system of claim 22, wherein, after the one or more server receives the original commercial transaction approval request but prior to the one or more server receiving the at least one additional transaction approval request, the one or more server receives from the account holder a change of at least one of the stored criterion for pre-authorizing the commercial transaction.

24. The system of claim 23, wherein the one or more server is further configured to compare the received at least one additional transaction approval request to the at least one changed stored criterion to determine whether the at least one changed stored criterion for pre-authorizing the second commercial transaction is satisfied;

and, when a determination is made that the at least one of the stored criterion for pre-authorizing the second commercial transaction is not satisfied, the one or more server denies the at least one additional transaction approval request.

25. The system of claim 23, wherein the one or more server is further configured to report the denial of the non-pre-authorized transaction approval request to the merchant.