System and method for pre-verifying commercial transactions

• US 20020007345A1
• Filed: 01/12/2001
• Published: 01/17/2002
• Est. Priority Date: 07/17/2000
• Status: Active Grant

• Current Assignee: Harris Intellectual Property, L.P.
• Original Assignee: Harris Intellectual Property, L.P.
• Inventors: Harris, David N.
• Granted Patent: US 8,352,369 B2
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• 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 30/06 Buying, selling or leasing transactions

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.

Claims

1. A computer system for verifying a commercial transaction between an account-holder and a merchant, said computer system comprising:

a processing unit for processing data and code; and

a memory device for storing said data and said code,

said code including a merchant communications module operative to facilitate a connection with said merchant for receiving a transaction approval request including a complete account number associated with said account-holder,

said data including at least one pre-verification criteria associated with said account-holder, and

said code further including an authorization module responsive to said transaction approval request and operative to compare said transaction approval request with said pre-verification criteria, and to verify said transaction approval request if said at least one pre-verification criteria is satisfied.

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

said at least one pre-verification criteria includes a plurality of pre-verification criteria; and

said authorization module is operative to verify said transaction approval request if at least one of said plurality of pre-verification criteria is satisfied.

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

said at least one pre-verification criteria includes a plurality of pre-verification criteria; and

said authorization module is operative to verify said transaction approval request only if all of said plurality of pre-verification criteria are satisfied.

4. A computer system according to claim 1, wherein said pre-verification criteria are determined by said account-holder.

5. A computer system according to claim 1, further comprising an account-holder communications module operative to:

receive a connection request from said account-holder;

establish a connection with said account-holder;

authenticate said account-holder;

present at least one of said pre-verification criteria to said account-holder; and

receive modification instructions for said one of said pre-verification criteria from said account holder.

6. A computer system according to claim 5, wherein, prior to receiving said modification instructions from said account-holder, none of said pre-verification criteria can be satisfied by said transaction approval request.

7. A computer system according to claim 1, wherein said pre-verification criteria include at least one merchant identifier.

8. A computer system according to claim 7, wherein said authorization module, responsive to receipt of said transaction approval request, is operative to:

compare said merchant transmitting said transaction approval request with each of said merchant identifiers; and

verify said transaction approval request if said merchant sending said transaction approval request is identified by one of said merchant identifiers.

9. A computer system according to claim 1, wherein said pre-verification criteria include a maximum pre-verified purchase price.

10. A computer system according to claim 9, wherein said authorization module, responsive to receipt of a transaction approval request is operative to:

compare a purchase price contained within said transaction approval request with said maximum pre-verified purchase price; and

verify said transaction approval request if said purchase price contained within said transaction approval request is less than said maximum pre-verified purchase price.

11. A computer system according to claim 1, wherein said pre-verification criteria include a begin date and an end date.

12. A computer system according to claim 11, wherein said authorization module, responsive to receipt of said transaction approval request, is operative to:

compare a purchase date contained within said transaction approval request with said begin date and said end date; and

verify said transaction approval request if said purchase date falls between said begin date and said end date.

13. In a computer system, a method for verifying a commercial transaction between an account-holder and a merchant, said method comprising:

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

receiving a transaction approval request from said merchant, said transaction approval request including a complete account number associated with said account-holder;

comparing said transaction approval request to said pre-verification criteria; and

verifying said transaction approval request if said pre-verification criteria are met.

14. A method according to claim 13, wherein:

said step of storing at least one pre-verification criteria includes storing a plurality of pre-verification criteria; and

said step of verifying said transaction approval request includes verifying said transaction approval request if at least one of said pre-verification criteria is satisfied.

15. A method according to claim 13, wherein:

said step of storing at least one pre-verification criteria includes storing a plurality of pre-verification criteria; and

said step of verifying said transaction approval request includes verifying said transaction approval request only if all of said pre-verification criteria are satisfied.

16. A method according to claim 13, wherein said at least one pre-verification criteria is determined by said account-holder.

17. A method according to claim 13, further comprising:

establishing a connection with said account-holder;

authenticating said account-holder; and

allowing said account-holder to modify said pre-verification criteria associated with said account-holder.

18. A method according to claim 17, wherein, none of said pre-verification criteria can be satisfied prior to modification by said account-holder.

19. A method according to claim 13, wherein said pre-verification criteria includes at least one merchant identifier.

20. A method according to claim 19, wherein:

said pre-verification criteria includes a plurality of merchant identifiers;

said transaction approval request is verified if said merchant is identified by one of said plurality of merchant identifiers.

21. A method according to claim 13, wherein said pre-verification criteria includes a pre-verified purchase price.

22. A method according to claim 21, wherein said transaction approval request is verified if a purchase price identified in said transaction approval request is less than said pre-verified purchase.

23. A method according to claim 13, wherein said pre-verification criteria includes at least one pre-verification date.

24. A method according to claim 23, wherein:

said pre-verification criteria includes at least one pair of pre-verification dates; and

said transaction approval request is verified if a transaction date included in said transaction approval request falls between said pre-verification dates.

25. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 13.

26. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 14.

27. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 15.

28. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 16.

29. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 17.

30. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 18.

31. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 19.

32. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 20.

33. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 21.

34. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 22.

35. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 23.

36. A computer-readable medium having code embodied therein for causing an electronic device to perform the method of claim 24.