Systems and methods for processing electronic transactions based on consumer characteristics

US10963857B2 · kind B2 · utility

Assignee

• VERIZON MEDIA INC. · US

Inventors

• Philip J. Philliou · Haworth, US
• Dean Pappas · Hamilton Square, US
• Jonathan I. BROD · New York, US
• Kenneth H. DICHTER · Livingston, US
• Timothy J. Lemmon · New York, US

Key dates

• Filing date: Mar 8, 2013
• Grant date: Mar 30, 2021
• Expiry date: Aug 19, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/387
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Methods are disclosed for processing electronic transactions between a merchant and a consumer based on physical geography. A method includes receiving payment data associated with a consumer payment card; transmitting the payment data, over a network, to a third party; receiving, over the network, information for determining whether a geofence associated with the merchant matches a geofence associated with the consumer; and processing a transaction with the consumer based on whether the consumer geofence ID matches a geofence ID associated with the merchant. Systems for processing electronic transactions between a merchant and a consumer based on physical geography are also disclosed.