Intelligent recurring transaction processing and fraud detection

US11823201B2 · kind B2 · utility

Assignee

• Visa International Service Association · US

Inventors

• Clive Alan Wintle · Mickleham, GB
• Thomas Purves · San Francisco, US
• Prasad Madhukar Gore · Reading, GB
• Shipra Jha · Fremont, US

Key dates

• Filing date: Feb 4, 2021
• Grant date: Nov 21, 2023
• Expiry date: Sep 2, 2041

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/405
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system for intelligent recurring transaction processing and fraud detection comprises an artificial intelligence (AI) platform including machine learning (ML) models that are in communication with server computers. The servers access historical payment transaction data from a transaction database to train the ML models to predict future recurring transactions. The servers receive an authorization request from an acquirer for a payment transaction by a cardholder using a payment device, process the authorization request to the issuer and transmit a response. Transaction data from the authorization request is input into the ML models to predict whether the payment transaction comprises a recurring payment transaction and if so, determine a predicted date of a next recurring transaction. An API call is initiated to the issuer with transaction attributes regarding the next recurring payment transaction prior to the predicted date, and the issuer sends an alert message directly to the cardholder.