Systems and methods for performing a simplified risk assessment
US7513418B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 20, 2005 |
| Grant date | Apr 7, 2009 |
| Priority date | — |
| Expiry date | Aug 28, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods are provided for a simplified risk assessment for a promissory transaction when sufficient historical transaction information exists for the check writer. In an embodiment, a computerized method for determining authorization of a financial transaction comprises maintaining a historical transaction value for past transactions associated with related promissory payments, receiving a request from a merchant to determine authorization of a financial transaction associated with a proffered promissory payment, the proffered promissory payment having at least one transaction identifier, accessing the historical transaction value associated with the related promissory payments, and determining based on the historical transaction value whether to authorize the financial transaction based a risk score or whether to authorize the financial transaction based on data stored in a negative database.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.