System and method for consumer control over card-based transactions

• US 7,359,880 B2
• Filed: 08/05/2005
• Issued: 04/15/2008
• Est. Priority Date: 07/11/2000
• Status: Expired due to Term

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Luther C. Abel, Robert E. Cousins
• Inventors: Cousins, Robert E., Abel, Luther C.
• Primary Examiner(s): Dass, Harish T.
• Application Number:
  US11/197,920
• Publication Number:
  US 20050273431A1
• Time in Patent Office: 984 Days
• Field of Search: 395/241, 235379-380, 705/1, 705 39- 40, 507/41
• US Class Current: 705/39
• 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 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• 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 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

A system and method for consumer control over card-based transactions and associated accounts. An interface is provided between a merchant or the merchant'"'"'s bank and the bank or banks at which the consumer has accounts for card-based transactions. The interface acts as an intermediary which is accessible to the consumer so that the consumer may place a variety of controls on card-based transactions. For example, multiple transaction cards may be linked to a single credit account with each card having a different credit limit. As another example, each transaction card may be restricted to a particular merchant. As yet another example, a consumer may link several credit and/or debit accounts to a single transaction card; the consumer may pre-select criteria to be utilized for directing charges for a particular transaction to be applied the different accounts. The consumer may access the interface via a web site or a telephone for making changes and receiving account information. Flexibility and control over the use of transaction cards is, therefore, provided for card-based transactions and for debit and credit accounts used in connection with such card-based transactions.

Claims

1. A system for controlling card-based transactions comprising:

a first card that is associated with a plurality of second cards that correspond to a plurality of accounts at one or more issuing banks, wherein the first card includes an account number for performing a card-based transaction;

a transaction processing system associated with the first card and located between a merchant'"'"'s bank and the plurality of issuing banks, the transaction processing system being adapted to receive the card-based transaction from the merchant bank, and to perform the card-based transaction using one or more of the accounts by executing one or more rules associated with the first card and stored on a server hosting the transaction processing system; and

an interface to the transaction processing system that is accessible by a user for allowing the user to dynamically and selectively modify the one or more rules.

2. The system of claim 1 wherein plurality of second cards are credit cards, debit cards, charge cards, ATM cards, smart cards or gift cards.

3. The system of claim 1 wherein the transaction processing system is adapted to transmit a first portion of the transaction to a first account and a second portion of the transaction to a second account based on the one or more rules.

4. The system of claim 1 wherein the transaction processing system is adapted to convert the account number associated with the first card and the card-based transaction into a number associated with one or more of the plurality of accounts.

5. The system of claim 1 wherein the transaction processing system is adapted to approve or deny the transaction based on the one or more rules, and wherein the user can dynamically restrict the transaction through the interface.

6. A method for controlling card-based transactions:

issuing an account number that links a plurality of transaction cards corresponding to a plurality of accounts at one or more issuing banks, wherein the account number is presentable by a user to perform a card-based transaction;

receiving the card-based transaction from a merchant'"'"'s bank at a server hosting a transaction processing system;

determining how to process the card-based transaction based on one or more user-defined rules associated with the account number, wherein the one or more user-defined rules are stored on the server and are executed by the transaction processing system;

performing the card-based transaction using one or more of the accounts based on the determined process; and

providing an interface to the transaction processing system that is accessible by a user enabling the user to dynamically and selectively modify the one or more rules.

7. The method of claim 6 wherein plurality of transaction cards are credit cards, debit cards, charge cards, ATM cards, smart cards or gift cards.

8. The method of claim 6 further comprising:

splitting the card-based transaction into a first portion and a second portion based on the one or more rules;

transmitting a first portion of the transaction to a first account; and

transmitting a second portion of the transaction to a second account.

9. The method of claim 6 further comprising:

approving or denying the transaction based on the one or more rules, and wherein the user can dynamically restrict the transaction through the interface.