Credit card spending authorization control system

US5914472A · kind A · utility

Assignee

• AT&T CORP. · US

Inventors

• Mark Jeffrey Foladare · East Brunswick Township, US
• Shelley B. Goldman · East Brunswick Township, US
• Dominick Gorini · Long Valley, US
• David Phillip Silverman · Somerville, US
• Shaoqing Q. Wang · Middletown, US
• Robert S. Westrich · Middletown, US

Key dates

• Filing date: Sep 23, 1997
• Grant date: Jun 22, 1999
• Expiry date: Sep 23, 2017

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system and method for allowing a parent to control the use of an ancillary credit or debit transaction card which is issued to a child. A central computer communicates with an issuer computer having a data base containing account information and spending limits for the transaction card and the parent can set a spending limit for the ancillary card given to the child. When the child presents the ancillary transaction card to a merchant in payment of merchandise, the merchant swipes the card and contacts a central computer for card authorization. If the credit limit of the ancillary card holder has been exceeded according to the data base, a method of contacting the parent is transmitted to the central computer. The central computer initiates contact with the parent via two-way communications, for example, two way pager, cellular telephone, or other personal communication service, and queries the parent whether to authorize the transaction by increasing the spending limit of the ancillary cardholder or refusal of the transaction. The parent responds to the central computer via the two-way communications device, and the central computer forwards an approval/refusal code to the merch…