Systems and methods for fraud detection by transaction ticket size pattern

US9412108B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Qian Wang · San Jose, US
• Po Hu · Norwalk, US
• Ramamohan R. Sangasani · White Plains, US

Key dates

• Filing date: Dec 11, 2014
• Grant date: Aug 9, 2016
• Expiry date: Dec 11, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and system for detecting fraud in a payment card network using a pattern of transaction ticket size are provided. The method including receiving transaction information, for a current financial transaction, from at least one of a merchant point of sale (POS) device and a merchant website, the transaction information including a current transaction amount, the transaction information associated with a single payment card cardholder, retrieving a predetermined number of historical transactions for the single cardholder based on the transaction information, and generating a historical spend ticket size pattern based on average ticket size and dispersions for at least one of the same store, similar stores, and relevant merchant categories. The method further including comparing the current transaction amount to the historical spend ticket size pattern and generating a recommendation for approval or decline of the current financial transaction based on the comparison.