System and method using predicted consumer behavior to reduce use of transaction risk analysis and transaction denials

US8620798B2 · kind B2 · utility

Assignee

• Visa International Service Association · US

Inventors

• Patrick Faith · Pleasanton, US
• Zhongxiao Jiang · Cupertino, US
• Kevin Siegel · Milpitas, US
• Theodore Harris · Foster City, US

Key dates

• Filing date: Sep 8, 2010
• Grant date: Dec 31, 2013
• Expiry date: Mar 8, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/08
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An apparatus and method for processing a transaction authorization request to reduce the need for a transaction risk assessment as part of the authorization process. The invention reduces both the data processing burden on the payment processor and the number of transactions for which authorization is denied. In some embodiments, the invention uses predictive or behavior modeling techniques to generate predictions of the transactions the consumer may engage in. If the consumer does engage in a predicted transaction, then a risk analysis process is not performed for that transaction.