System and method for managing status of a payment instrument
US8370265B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2010 |
| Grant date | Feb 5, 2013 |
| Priority date | — |
| Expiry date | Aug 18, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A transaction processing service operates as an intermediary between acquirers of financial transaction requests and issuing institutions that process the financial transaction requests. The intermediary service enables a customer to selectively change the status of an account's associated with a payment instrument by activating or deactivating the account. The intermediary service may manage account status locally using a rules module. Alternatively, the issuing institution may manage account status, while the intermediary service provides an interface for customers. A customer communicates with the intermediary service to direct the service to change the account status. The intermediary service determines the account's issuing institution and provides an indication to the issuing institution of the current status of the account (or of the change in status). The intermediary service may provide the indication by transmitting a message to the issuing institution or by storing the account status information in its own database. The issuing institution may then request account status from the intermediary service whenever it needs the information, such as when it receives an authoriz…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.