Transaction processing

US8229854B2 · kind B2 · utility

Assignee

• Orbiscom Limited · IE

Inventors

• Kavanagh Stephen · Dublin, IE
• Conor Clarke · Blanchardstown, IE
• Kleron Guilfoyle · Killiney, IE
• Patrick Brosnan · Quincy, US

Key dates

• Filing date: Aug 6, 2009
• Grant date: Jul 24, 2012
• Expiry date: Oct 4, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A transaction processing system for the real time authorization of payment transactions, The system comprises a verification system (4) connected to an issuer card management system (3). A cardholder can access the system via an interface (2) which can be for example the Internet, a wireless device, telephone, or a branch visit. The interface allows the cardholder to input rules governing how their credit card transactions are to be authorized. When the cardholder initiates a purchase transaction with their credit card, an authorization request is passed from the card network to the verification system which executes the rules created by the cardholder in order to approve or deny the transaction.