Personally customizable credit card accounts

Abstract

Account holders may specify vendor-specific charge restrictions for charging transactions against their accounts, where each vendor-specific charge restriction includes a unique identifier for the corresponding vendor to which the charge restriction is applicable. The charge restriction may be an exclusion from approval of all charge authorization requests, an amount limit on charge authorization requests which may be approved, a “rebill” limit on the number of times subsequent charge authorization requests may be approved, or a combination of such restrictions and/or other restrictions. When a charge authorization request is received for a charge against an account having vendor-specific charge restrictions set by the account holder, the vendor identifier is extracted from the charge authorization request and employed to determine whether any charge restrictions are applicable to the requesting vendor. The vendor-specific charge restrictions for a particular vendor may be specified by the account holder either before or after an initial charge transactions involving that vendor, with the vendor identifier either manually entered by the account holder or automatically extracted from an account transaction record.

Description

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AI Technical Summary

Benefits of technology

The objective of this patent is to improve charging systems for electronic devices.

Problems solved by technology

The technical problem addressed in this patent text is the reluctance of consumers to reveal their credit or debit card numbers over the Internet due to security concerns, especially the risk of unauthorized rebilling by an enterprise. Various methods have been proposed to improve security and reduce the risk of unauthorized rebilling, such as single use charge account numbers or adding prefixes or suffixes to existing account numbers. However, these solutions have limitations and do not allow an account holder to establish single use charging functionality in selected situations or after the charging transaction. Therefore, the patent aims to enable an account holder to establish single use charging functionality for an account in selected situations, while retaining the ability to generally employ unrestricted charging transactions in other situations.

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