Methods and systems for mitigating fraud losses during a payment card transaction

US9858571B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Frederick Michael Pacher · Williston Park, US
• Craig Robert Dinsmore · Des Peres, US
• Eoin Patrick Flood · Dublin, IE
• Mikhail Blinov · Dublin, IE

Key dates

• Filing date: Jan 2, 2013
• Grant date: Jan 2, 2018
• Expiry date: Sep 4, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/405
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Computer systems and methods for identifying a potentially fraudulent payment card transaction in progress, and mitigating losses arising from completion of a fraudulent payment card transaction are provided. The computer system is programmed to receive an authorization request message for authorization of a payment card-initiated transaction, when the transaction is initiated using a payment card that includes a first security device operable for transactions initiated within a predefined geographic region and a second security device operable for transactions initiated both within the predefined geographic region and outside of the predefined geographic region. When the transaction is initiated outside the predefined geographic region, the computer system compares data on the payment card to stored data corresponding to a plurality of payment cards previously-approved for transactions outside of the predefined geographic region approval, and applies one or more sets of rules to the transaction as appropriate.