System and computer-implemented method for identifying and blocking repetitive financial transaction requests
US11200578B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 11, 2019 |
| Grant date | Dec 14, 2021 |
| Priority date | — |
| Expiry date | Jan 16, 2039 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/407
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and computer-implemented method for identifying and blocking repetitive submissions from a fraudster or unscrupulous merchant/acquirer to a card-issuer for the same financial transaction. A communications network is monitored for financial transaction requests and responses being communicated between the fraudster or unscrupulous merchant/acquirer and the card-issuer. The requests are analyzed to identify a pattern in a subset of the requests which the card-issuer has declined. The pattern identifies the subset of the requests as repetitive submissions from the merchant/acquirer for the same financial transaction. The pattern may be based on the number of requests from the same merchant/acquirer, the same card number, the same reason code for declining the requests, the same transaction amount, and being received within a particular time period. The next submission for the same transaction is blocked from reaching the card-issuer. The total number of blocked submissions may be tracked, and the merchant/acquirer may be penalized if they become excessive.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.