System and method for pre-authorization of individual account remote transactions
US6226624A · kind A · utility
Inventors
Key dates
| Filing date | Mar 25, 1999 |
| Grant date | May 1, 2001 |
| Priority date | — |
| Expiry date | Mar 25, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An account processing method and system for providing specific pre-authorization parameters for transactions that require specific pre-authorization by a network user specifying conformity parameters within which any requested transaction parameters must comply in order to enable the requested transaction to be approved. Upon establishment of an account, transaction types by standard industrial code (SIC) are specified as needing specific authorization prior to approving the transaction as requested by a merchant An account issuer provides a service to account members that permits network user to independently specify the parametric conditions under which to approve a transaction within such categories. Once a transaction is approved, the pre-authorization is spent and requires individual pre-authorization of each transaction, thereby minimizing misuse of an account number by merchants or others that come into possession of the network user's account number.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.