Risk management in online and offline transactions
US10037517B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 22, 2014 |
| Grant date | Jul 31, 2018 |
| Priority date | — |
| Expiry date | Dec 22, 2034 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Techniques and arrangements for managing risk of fraudulent transactions made by a point-of-sale (POS) device operating in an online and an offline mode. In some instances, a payment service may maintain a merchant profile with a list of merchant specific criteria. The payment service may encrypt and send the merchant specific criteria to the POS device associated with the merchant. The encrypted data may include a list of payment instruments used in previous successful transactions, customer transaction histories, and other customer information. The POS device may determine, upon receiving a payment instrument identifier in a transaction, whether the payment instrument has been used in a previous successful transaction. If the POS device determines the payment instrument has been used, it may process the transaction. If not, the POS device may warn the merchant that the transaction is a high-risk transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.