System for managing risk of financial transactions with location information
US7152788B2 · kind B2 · utility
Inventor
Key dates
| Filing date | Sep 19, 2005 |
| Grant date | Dec 26, 2006 |
| Priority date | — |
| Expiry date | Sep 19, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/403
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present teachings describe a system for processing financial transactions. In one embodiment, the system includes a remote terminal adapted to identify the location of financial transactions via global positioning system (GPS) information such that the remote terminal acquires transaction information from a user and transmits a first signal indicative of transaction information and GPS information. In addition, the system includes an authorizing host adapted to receive the first signal transmitted by the remote terminal such that the authorizing host evaluates the risk associated with financial transactions based, at least in part, on the GPS information so as to determine whether to accept or decline the financial transaction. The present teachings further describe devices and methods of acquiring GPS information for the purpose of managing risk for financial transactions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.