Payment vehicle with on and off function

A method of implementing, in response to electronic text messaging or electronic mail messaging, one or more rules applicable to use of a payment vehicle in electronic payment transactions, the method comprising:

• receiving, by a computing system comprising a transaction engine, a first electronic text message or electronic mail message from a computer device, the first electronic text message or electronic mail message being a rule-containing message including a rule to be associated with the payment vehicle, the rule including criteria against which subsequent transaction authorization requests are to be assessed;
• updating, by the transaction engine of the computing system, logic associated with the payment vehicle to incorporate the rule;
• declining, by the computing system, a first transaction authorization request for not satisfying the criteria of the rule based on application of the logic;
• receiving, by the computing system, a second electronic text message or electronic mail message from the computer device, the second electronic text message or electronic mail message containing a command to enable the payment vehicle;
• updating, by the transaction engine of the computing system, the logic associated with the payment vehicle so as to enable the payment vehicle and thereby allow subsequent electronic payment transactions with the payment vehicle;
• receiving, by the computing system, a second electronic payment transaction request;
• determining, by the computing system, whether to authorize or decline the second electronic payment transaction request based on the logic;
• authorizing, by the computing system, the second electronic payment transaction request based on the updated logic;
• and
• processing, by the computing system, the second electronic payment transaction request.

A computing system comprising a transaction engine, the computing system configured to enable and disable, in response to electronic text messaging or electronic mail messaging by a computer device, a payment vehicle such that the payment vehicle is usable or unusable for electronic payment transactions, by:

• accepting a first electronic text message or electronic mail message transmitted by the computer device, the first electronic text message or electronic mail message containing a first command to disable the payment vehicle for subsequent use in making electronic payments;
• updating, by the transaction engine, in response to the first electronic text message or electronic mail message, a status associated with the payment vehicle to indicate the payment vehicle has been disabled and to thereby place a block on the payment vehicle;
• transmitting to the computer device an electronic confirmation message indicating that the payment vehicle is disabled;
• receiving a transaction authorization request for an electronic payment transaction;
• declining the electronic payment transaction based on the block that was placed on the payment vehicle in response to the first electronic text message or electronic mail message;
• receiving a second electronic text message or electronic mail message transmitted by the computer device, the second electronic text message or electronic mail message containing a second command to enable the payment vehicle for subsequent use in making electronic payments;
• updating, by the transaction engine, the status of the payment vehicle to indicate the payment vehicle has been enabled and to thereby remove the block on the payment vehicle;
• receiving a second transaction authorization request for a second electronic payment transaction;
• determining whether to authorize or decline the second transaction authorization request based on whether the status is enabled or disabled;
• authorizing the second electronic payment transaction responsive to determining to authorize the transaction authorization request;
• and
• processing the second electronic payment transaction.