Methods for risk management in payment-enabled mobile device

US8706556B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Patrick Mestré · Sart-Bernard, BE
• Cristian Radu · Beauvechain, BE
• Patrik Smets · Nijlen, BE
• Simon Phillips · York, GB
• Ronald Carter · Matthews, US

Key dates

• Filing date: Oct 29, 2010
• Grant date: Apr 22, 2014
• Expiry date: Oct 11, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/1025
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A payment-enabled mobile device such as a “smart phone” incorporates risk management features that are applicable to its use in contactless payment transactions. Some features may govern when verification of the cardholder's identity is required for consummation of the current transaction. The features may be configurable by the payment card account issuer and/or the user of the mobile device.