Method and system for assessing merchant risk during payment transaction

US8020763B1 · kind B1 · utility

Assignee

• Intuit Inc. · US

Inventors

• Eric F. Kowalchyk · Campbell, US
• See Yew Mo · Campbell, US
• Jimmy M. Lu · San Jose, US
• Satish Buddhavarapu · Sunnyvale, US
• Michael J. Power · San Jose, US
• Janos Z. Mako · North Andover, US

Key dates

• Filing date: Jun 30, 2009
• Grant date: Sep 20, 2011
• Expiry date: Dec 4, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods for assessing transaction risk. A consumer tenders a transaction card to a merchant to purchase a good or service. A payment device of the merchant, such as a payment terminal or mobile communication device of the merchant, is used to process the payment utilizing a risk assessment system. Card data received by the payment device is sent to the risk assessment system, which processes card data and generates an indicator representing the risk associated with accepting payment using the card. The indicator is sent to the payment device to provide the merchant input regarding risk associated with using the card (e.g., likelihood of fraud or chargeback) in a seamless manner. If the risk level is too high, the merchant may reject the card. The risk indicator may be based on different types of data from different sources, e.g., data from a first source related to the credit history of the consumer and data from a second source related to the identity of the consumer.