Method and system for online and physical merchant specific fraud detection system
US9367844B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 25, 2015 |
| Grant date | Jun 14, 2016 |
| Priority date | — |
| Expiry date | Mar 25, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for processing payment transactions with merchant-specific fraud detection includes: storing a merchant profile, the profile including data related to a merchant including a merchant identifier and a plurality of transaction data entries, each entry including data related to a payment transaction involving the merchant including transaction data; receiving an authorization request for a payment transaction, the request including the merchant identifier and transaction data; calculating a fraud score for the payment transaction based on application of one or more scoring algorithms to the transaction data included in the authorization request and based on the transaction data included in transaction data entries in the merchant profile; transmitting the transaction data included in the received authorization request and the calculated fraud score to the merchant; and receiving a notification from the merchant indicating acceptance of risk for the payment transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.