Patent US2725231A successfully refreshed from Google Patents.
Patent US4812628A successfully refreshed from Google Patents.
US4812628A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Transaction system with off-line risk assessment
Assignee: Visa International Service Association
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Filing: 1987-03-27
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Granted: 1989-03-14
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Expires: 2007-03-27
Abstract
Abstract The subject invention relates to a transaction system wherein the issuer of transaction cards can regulate the type of authorization requests transmitted from the point of transaction. The system includes a plurality of transaction cards, each of which are provided with risk assessment data associated with each cardholder. The system further includes a plurality of terminals, each terminal having the ability to read the information placed on the transaction cards. In operation, the risk assessment data is used to generate a pending transaction limit. The amount of the transaction is compared to the pending transaction limit by the terminal. If the transaction is approved, the terminal will issue an automatic, off-line authorization. If the transaction does not fall within the approval range, the terminal will function to transmit the transaction information to the issuer for evaluation. The issuer can then determine whether to authorize the transaction based on its own data base.
Inventors
- 👤 Vincent Boston
- 👤 Elvis W. Boggan
- 👤 Einar L. Asbo
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-04 07:40
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403
Claims Analysis
Total Claims: 9
Claim 1
Independent Claim
242 words
A system wherein an issuer of transaction cards can regulate the type of authorization requests associated with a transaction that are transmitted from the point of transaction, said system comprising: processor means maintained at a location remote from the point of transaction, said processor means including a file means containing cardholder information, supplied by the issuer, for evaluating a transaction; a transaction card carrying data identifying the cardholder, said card further including data, supplied by the issuer and representative of risk assessment information associated with the cardholder; and terminal means located at the point of transaction and connectable to said remote processor means, said terminal means having a means for reading the data carried on said card and a means for entering the amount of a transaction, said terminal means further including a means for storing information representative of a plurality of transaction limits, said terminal means further including a local processor means for evaluating a transaction based on the transaction amount and the risk assessment information carried on said card, and wherein said risk, assessment information on the card is used to select a transaction limit for the pending transaction, with said terminal means functioning to generate an approval code if the transaction amount does not exceed the pending transaction limit and if the amount does exceed that limit, said terminal means will connect to said remote processor means and forward the transaction information to said remote processor means for evaluation.
Claim 2
Independent Claim
242 words
A system wherein an issuer of transaction cards can regulate the type of authorization requests associated with a transaction that are transmitted from the point of transaction, said system comprising: processor means maintained at a location remote from the point of transaction, said processor means including a file means containing cardholder information, supplied by the issuer, for evaluating a transaction; a transaction card carrying data identifying the cardholder, said card further including data, supplied by the issuer and representative of risk assessment information associated with the cardholder; and terminal means located at the point of transaction and connectable to said remote processor means, said terminal means having a means for reading the data carried on said card and a means for entering the amount of a transaction, said terminal means further including a means for storing information representative of a plurality of transaction limits, said terminal means further including a local processor means for evaluating a transaction based on the transaction amount and the risk assessment information carried on said card, and wherein said risk, assessment information on the card is used to select a transaction limit for the pending transaction, with said terminal means functioning to generate an approval code if the transaction amount does not exceed the pending transaction limit and if the amount does exceed that limit, said terminal means will connect to said remote processor means and forward the transaction information to said remote processor means for evaluation.
Claim 3
Dependent Claim
40 words
A system as recited in claim 1 wherein said terminal stores a plurality of actual transaction limits with the risk assessment information on the card being used to select an actual transaction limit in the terminal for the pending transaction.
Claim 4
Dependent Claim
41 words
A system as recited in claim 1 wherein said terminal stores a single transaction limit and a plurality of multipliers, with said risk assessment information the card being used to select the multiplier in the terminal for calculating the pending limit.
Claim 5
Dependent Claim
40 words
A system as recited in claim 1 wherein the risk assessment information on said card includes a code indicating that the transaction information for each transaction must be forwarded to the remote processor for evaluation regardless of the transaction amount.
Claim 6
Dependent Claim
15 words
A system as recited in claim 1 wherein said transaction card includes a magnetic stripe.
Claim 7
Dependent Claim
18 words
A system as recited in claim 5 wherein the risk assessment information is encoded onto said magnetic stripe.
Claim 8
Independent Claim
23 words
A system as recited in claim I further including a data control center connected between said terminal means and said first processor means.
Claim 9
Dependent Claim
56 words
A system as recited in claim 7 wherein said data control center includes an intermediate processor means and evaluation parameters supplied by the issuer, such that the data control center will only forward the transaction information to the remote processor means if the transaction does not fall within the parameters maintained at the data control center.
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 1992-03-13 | 1992-09-12 | 1993-03-14 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 1996-03-13 | 1996-09-12 | 1997-03-14 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2000-03-13 | 2000-09-12 | 2001-03-14 | $7700.00 | Window Closed / Lapsed |