Customized payment transaction notification

Abstract

A method for customizing alerts and notifications for portable consumer device transactions is disclosed. One embodiment of the invention is directed to a method comprising receiving information that a transaction associated with a portable consumer device is occurring, and providing an alert to a consumer associated with the portable consumer device, wherein the alert indicates that the transaction is occurring, wherein the alert is sent to the consumer according to a time or communication mode previously specified by the consumer using an interface that allows the user to specify the time and communication mode for receiving the alert.

Description

CROSS-REFERENCES TO RELATED APPLICATIONS[0001]The present application is a non-provisional application of and claims priority to U.S. Provisional Application No. 60 / 871,898, filed on Dec. 26, 2006, the entire contents of which are herein incorporated by reference for all purposes.BACKGROUND[0002]There are many occasions where a consumer may want to be notified when his credit card or the like is used. For example, he may want to know when his credit card account number has been used to purchase a large screen television for $5000 on the Internet, when the account number is used outside the U.S. to purchase airplane tickets, or when his child uses the account number or credit card to purchase alcohol.[0003]A consumer may be notified by the issuer that issued his credit card when the issuer determines a potentially fraudulent activity has occurred in a purchase with the consumer's credit card. The issuer may contact the consumer using the contact information it has on file for the con...

AI Technical Summary

Benefits of technology

[0077]Embodiments of this invention have a number of advantages. First, a consumer can completely customize how, when, and if he wants an alert for some or all transactions made with the portable consumer device, and thus has complete control over the notifications for his portable consumer device. This also allows a better chance of detecting a potentially fraudulent act because the consumer will likely receive the alert in a timely manner so that he can respond to the alert if necessary. Also, there is a better chance at stopping back to back fraudulent acts since the consumer can react quickly to the alert. Further, the consumer can track access of secure areas or general employee activity of using the portable consumer device. The consumer can also track activity of a child or spouse using the portable consumer device. Finally, the consumer is assured of receiving the alert through the escalation process if he does not receive the alert on the first communication mode or contact it is sent to.

Problems solved by technology

For example, the issuer may call the consumer at his home phone number or send a letter to his home address informing the consumer that potentially fraudulent or unauthorized activity is taking place.

However, the consumer may not be at home or may not answer the phone and a letter may take a few days to arrive at the consumer's home.

Further, the activity may occur in the early hours of the morning outside of the issuer's business hours and when the consumer does not want to receive a call.

For example, if a potentially fraudulent purchase is made with the consumer's credit card at 2 a.m. in the morning, the consumer may be asleep.

Thus, conventional notification methods may not be very effective for notifying the consumer of potentially fraudulent or unauthorized credit card activity.

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