System and methods for enhanced authorization of prepaid cards
US12033133B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 2, 2023 |
| Grant date | Jul 9, 2024 |
| Priority date | — |
| Expiry date | May 2, 2043 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/409
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer-implemented method for enhancing authorization of prepaid payment cards is provided. The method is implemented using an interchange network and an authorization computing device in communication with a memory. The method includes routing communications between a plurality of merchants and a plurality of issuing banks, providing transaction data for transactions by a plurality of prepaid payment cards, storing a plurality of transaction histories associated with the plurality of prepaid payment cards, receiving, over the interchange network, an authorization request for a payment transaction between a cardholder and an originating merchant initiated using a prepaid payment card, determining a likelihood of a second amount for a related payment transaction from the originating merchant, determining a transaction history associated with the prepaid payment card, determining whether there are sufficient funds associated with the prepaid payment card for the first and second amounts, and notifying the originating merchant of the determination.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.