Pre-authorization of a transaction using predictive modeling

• US 9,773,246 B2
• Filed: 12/10/2012
• Issued: 09/26/2017
• Est. Priority Date: 05/04/2009
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Faith, Patrick, Siegel, Kevin P., Hammad, Ayman
• Primary Examiner(s): Iwarere, Seye
• Application Number:
  US13/710,059
• Publication Number:
  US 20140006284A1
• Time in Patent Office: 1,751 Days
• Field of Search: 705 141, 705 143, 705 39, 705 35
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202
• CPC Class Codes: G06Q 10/06375 Prediction of business process outcome or impact based on a proposed change
• 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 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0204 Market segmentation
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Systems, apparatus, and methods are provided for efficiently authorizing a transaction initiated by a consumer. An authorization can be generated before the consumer actually initiates the transaction. For example, a future transaction can be predicted, and an authorization can be generated for the predicted transaction. In this manner, the authorization can be ready and quickly used when the consumer does initiate the transaction. Previous transactions made by the consumer can be used to predict when the future transaction is likely. In various examples, the authorization can be sent to a specific merchant or to the consumer for use when the consumer initiates the predicted transaction, or saved by an authorization server for use in response to an authorization request from the merchant.

Claims

1. A method of using an electronic device storing an authorization for a specific future transaction by a consumer, the method comprising:

performing a plurality of previous transactions using the electronic device;

receiving, by the electronic device from an authorization server via a network, a first electronic message that includes an authorization token for authorization of a specific future transaction, wherein the authorization is for a time when the specific future transaction is predicted to be likely based on the previous transactions, wherein the authorization token is received prior to initiation of the specific future transaction, and wherein the specific future transaction is identifiable by one or more keys that characterize the specific future transaction; and

providing, with the electronic device, a second electronic message including the authorization token stored on the electronic device to a merchant device at the time when the specific future transaction is predicted to be likely, wherein the time when the specific future transaction is predicted to be likely is a time window, wherein the authorization token conveys the time window within which the authorization token is valid, where the authorization token is valid only within the time window, wherein the authorization token is operable to be used during a process for authorizing a transaction that is initiated using the electronic device and that matches the one or more keys, the authorization token authorizing payment from one or more accounts of the consumer.

2. The method of claim 1, wherein the previous transactions are associated with the consumer and/or with one or more other consumers similar to the consumer.

3. The method of claim 1, wherein the previous transactions are performed with the one or more accounts of the consumer.

4. The method of claim 3, wherein the authorization is for the specific future transaction using the account.

5. The method of claim 4, wherein the authorization is for the specific future transaction within a specified price range.

6. The method of claim 1, further comprising:

transmitting data corresponding to previous transactions to a computer system.

7. The method of claim 6, where the data corresponding to previous transactions includes at least one or more of consumer data, transaction data, and merchant data.

8. The method of claim 1, wherein the authorization token for authorization of the specific future transaction is generated based on an analysis of at least the previous transactions.

9. The method of claim 1, wherein the authorization token for authorization of the specific future transaction is received a predetermined amount of time before the start of the time window for the specific future transaction.

10. The method of claim 9, wherein the electronic device is a phone.

11. The method of claim 1, wherein the authorization token for authorization of the specific future transaction includes a coupon for the specific future transaction.

12. The method of claim 1, wherein the authorization token for authorization of the specific future transaction is received in the second electronic message at a merchant access device.

16. The method of claim 1, wherein the authorization token includes information to verify that the authorization token is valid for the time when the authorization token is provided to a merchant.

17. The method of claim 16, wherein the information includes the time window.

18. The method of claim 1, wherein the authorization token includes a price range for which the authorization token is valid.

19. The method of claim 1, wherein the authorization token specifies a merchant for which the authorization token is valid.

20. The method of claim 1, wherein the authorization token includes information used to verify the time window for the authorization token, a specified price range for the authorization token, and a valid merchant for the authorization token.

21. The method of claim 20, wherein the authorization token is sent to a computer system to verify the authorization token is valid for the transaction.

24. The method of claim 1, wherein the authorization token is provided to the merchant device using a contactless interface of the electronic device.

13. A computer comprising:

a processor;

a memory; and

a computer readable medium coupled to the processor, the computer readable medium comprising code, executable by the processor for implementing a method comprising;

performing a plurality of previous transactions;

receiving a first electronic message that includes an authorization token from an authorization server via a network, the authorization token for authorization of a specific future transaction, wherein the authorization is for a time when the specific future transaction is predicted to be likely based on the previous transactions, wherein the authorization token is received prior to initiation of the specific future transaction, and wherein the specific future transaction is identifiable by one or more keys that characterize the specific future transaction;

storing the authorization token in the memory;

providing a second electronic message including the authorization token to a merchant device at the time when the specific future transaction is predicted to be likely, wherein the time when the specific future transaction is predicted to be likely is a time window, wherein the authorization token conveys the time window within which the authorization token is valid, where the authorization token is valid only within the time window; and

initiating a transaction that matches the one or more keys, the authorization token is operable to be used during a process for authorizing the transaction, the authorization token authorizing payment from one or more accounts of a consumer.

14. The computer of claim 13, wherein the authorization token for authorization of the specific future transaction is received a predetermined amount of time before the start of the time window for the specific future transaction.

15. The computer of claim 13, wherein the authorization token for authorization of the specific future transaction is generated based on an analysis of at least the previous transactions.

22. The computer of claim 13, wherein the authorization token includes information to verify that the authorization token is valid for the time when the authorization token is provided to a merchant.

23. The computer of claim 22, wherein the information includes the time window.

25. The computer of claim 13, further comprising:

a contactless interface, wherein the authorization token is provided to the merchant device using the contactless interface.