Mobile communications message verification of financial transactions

• US 9,818,121 B2
• Filed: 07/30/2010
• Issued: 11/14/2017
• Est. Priority Date: 07/31/2009
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: VISA International Space Association
• Inventors: Snyder, Randall A., Ginter, Thomas S.
• Primary Examiner(s): Gillis, Brian J
• Assistant Examiner(s): Lin, Steve
• Application Number:
  US13/387,991
• Publication Number:
  US 20120131121A1
• Time in Patent Office: 2,664 Days
• Field of Search: 709206, 705 44
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation

Abstract

A system and method for verifying a secure transaction by evaluating the transaction, generating a first verification value for the transaction, sending an electronic mobile message to a wireless device associated with the transaction, receiving a response from the wireless device to the electronic mobile message associated with the transaction and generating a new second verification value for the transaction based on the response is provided. The second verification value may be used to validate or invalidate the secure transaction.

Claims

1. A method of verifying a transaction comprising:

receiving at a computerized mobile identity verification system a transaction verification request, the transaction verification request including a wireless device ID and a transaction location;

evaluating the transaction with the mobile identity verification system based on the wireless device ID and the transaction location to generate a first verification value, which is statistically determined and indicates a first probability that the transaction is fraudulent;

determining whether the first verification value meets a predetermined criterion;

sending a transaction verification message to a wireless device associated with the wireless device ID when the first verification value meets the predetermined criterion, wherein the transaction verification message is not sent to the wireless device when the first verification value does not meet the predetermined criterion;

receiving at the mobile identity verification system a message response confirming authorization of the transaction and manually provided by a user of the wireless device associated with the wireless device ID from the wireless device associated with the wireless device ID;

re-evaluating the transaction with the mobile identity verification system based on the message response, thereby generating a second verification value based at least in part on the first verification value and the message response, wherein the second verification value is statistically determined and indicates a second probability that the transaction is fraudulent, wherein generating the second verification value includes adding or subtracting a predetermined value with respect to the first verification value; and

electronically sending the second verification value to a transaction processor, wherein the transaction processor performs an action based on the second verification value.

2. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a short message service (SMS) message.

3. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a multimedia message service (MMS) message.

4. The method for verifying a transaction according to claim 1, wherein the transaction verification message is an email message.

5. The method for verifying a transaction according to claim 1, wherein the transaction verification message is an instant message (IM).

6. The method for verifying a transaction according to claim 1, wherein the transaction verification message is a mobile data message.

7. The method for verifying a transaction according to claim 1, wherein performing the action based on the second verification value includes displaying the second verification value to a user on a computerized device so that the transaction can be approved or rejected.

8. The method for verifying a transaction according to claim 1, wherein transaction verification request is received from the transaction processor, and wherein the action performed using the second verification value approves the transaction.

9. The method for verifying a transaction according to claim 1, wherein the action performed using the second verification value rejects the transaction.

10. The method for verifying a transaction according to claim 1, further comprising receiving configuration information including the predetermined criterion before determining whether the first verification value meets the predetermined criterion.

11. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a location of the transaction.

12. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes a transaction amount.

13. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes an identification of the transaction processor.

14. The method for verifying a transaction according to claim 1, wherein the transaction verification message includes an identification of the transaction processor associated with the transaction, a location of the transaction, a transaction amount, and instructions for responding to the message.

15. The method for verifying a transaction according to claim 1, wherein generating the second verification value includes limiting the second verification value to a predetermined maximum value level.

16. The method for verifying a transaction according to claim 1, wherein generating the second verification value includes limiting the second verification value to a predetermined minimum value level.

17. A computerized mobile identity verification system comprising:

a processor; and

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

receiving a transaction verification request, the transaction verification request including a wireless device ID and a transaction location,

evaluating the transaction with the mobile identity verification system based on the wireless device ID and the transaction location to generate a first verification value, which is statistically determined and indicates a first probability that the transaction is fraudulent,

determining whether the first verification value meets a predetermined criterion,

sending a transaction verification message to a wireless device associated with the wireless device ID when the first verification value meets the predetermined criterion, wherein the transaction verification message is not sent to the wireless device when the first verification value does not meet the predetermined criterion,

receiving at the mobile identity verification system a message response confirming authorization of the transaction and manually provided by a user of the wireless device associated with the wireless device ID from the wireless device associated with the wireless device ID,

re-evaluating the transaction with the mobile identity verification system based on the message response, thereby generating a second verification value based at least in part on the first verification value and the message response, wherein the second verification value is statistically determined and indicates a second probability that the transaction is fraudulent, wherein generating the second verification value includes adding or subtracting a predetermined value with respect to the first verification value, and

electronically sending the second verification value to a transaction processor, wherein the transaction processor performs an action based on the second verification value.

18. The computerized mobile identity verification system of claim 17, wherein the action performed using the second verification value approves the transaction.