Method and apparatus enables user-directed, selective control of payment transactions
A transaction and user technology, applied in payment system structure, data processing application, finance, etc., can solve problems such as credit rating downgrade financial impact
Inactive Publication Date: 2013-10-02
INT BUSINESS MASCH CORP
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In addition, disputed changes must still be identified and resolved, as canceling an account does not legally resolve the validity of the liability liability issue
The requirement can downgrade the account holder's credit rating and have other negative financial implications
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[0020] Referring now to the attached drawings and specifically to Figure 1-Figure 2 , provides an exemplary illustration of a data processing environment in which illustrative embodiments of the present disclosure may be implemented. It should be realized that, Figure 1-2 It is exemplary only, and is not intended to state or imply any limitation as to the aspects or embodiments in which the disclosed subject matter may be practiced. Many modifications may be made to the depicted environments without departing from the spirit and scope of the invention.
[0021] Referring now to the accompanying drawings, figure 1 A pictorial representation of an exemplary distributed data processing system in which aspects of the illustrative embodiments may be implemented is depicted. Distributed data processing system 100 may include a network of computers in which aspects of the illustrative embodiments may be implemented. Distributed data processing system 100 includes at least one n...
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A method, apparatus and computer program product enables user-directed, selective control of payment transactions for a user's payment device. The techniques enable a payment device user to create and manage self-defined policies on how a particular payment device (tangible or intangible) may be used. This approach enables the end user, as opposed to the financial or commercial institution, to control transactions with respect to the account. Thus, for example, using a display interface, the account holder can control factors such as: allowed or disallowed vendors, a number of charges, timing of charges, a charge frequency, types of purchases allowed, and the amount charged. This fine-grained, device-specific control mechanism enables account holders to protect financial assets against fraudulent or improper activity. The approach provides a policy management system by which user-directed options for selectively controlling and restricting payment transactions may be realized, thereby providing better security and more customized account control.
Description
technical field [0001] The present disclosure generally relates to account holder-based, user-directed control over transactions that may be effected through or in association with a user payment device. Background technique [0002] Payment devices come in many forms and are in widespread use. They can be physical, such as credit cards, debit cards, RFID devices with embedded payment chips, mobile devices with built-in or programmed transaction systems, etc., or they can be intangible, such as Accounts, User Accessible Bank Accounts, etc. A payment device typically has an account holder (or "user") associated with it. Their use has expanded dramatically to become an element of nearly every aspect of everyday financial activity for individuals and businesses. In fact, the convenience, universal acceptance, and portability of these devices is one of their most attractive features. They are used for all types of activities from in-store and online purchases, charitable do...
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IPC IPC(8): G06Q20/12
CPCG06Q20/405G06Q40/02
Inventor A·L·博尔格特R·J·科恩R·M·福伦扎R·卡亚纳拉曼S·V·库玛
Owner INT BUSINESS MASCH CORP