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US 12,217,248 B1Granted
Payment vehicle with on and off function
AssigneeWells Fargo Bank, N.A.
InventorsMichael T. Duke, Dean Patrick Nolan
Life of this patent
Estimating the term…
Abstract
A computer-based network system and method for using a payment vehicle having an on and off function. The system comprises a payment vehicle comprising an on and off function to enable or to disable the payment vehicle in the computer-based network for processing an electronic payment transaction, a holder of the payment vehicle, and a computer payment network wherein the computer payment network comprises a transaction engine for enabling or for disabling the payment vehicle at a request of the holder of the payment vehicle.
Claims17
A method comprising:
- receiving, by a computing system of an issuer of a payment vehicle, a first text message from a mobile computing device of a holder of the payment vehicle, the first text message including a user-input instruction of the holder of the payment vehicle, the user-input instruction providing a time range during which transfers from an online banking account for the payment vehicle are to be disabled while permitting access to a status of the online banking account;
- receiving, by the computing system, a request for a transfer from the online banking account for the payment vehicle to a recipient;
- determining, by the computing system, that the request for the transfer from the online banking account for the payment vehicle to the recipient is received during the time range provided in the user-input instruction;
- and
- in response to determining that the request for the transfer from the online banking account for the payment vehicle is received during the time range:
- denying, by the computing system, the request for the transfer from the online banking account for the payment vehicle,
- transmitting, by the computing system, a second text message to the mobile computing device indicating that the request for the transfer is denied, and
- transmitting, by the computing system, an electronic message to a point-of-sale (POS) terminal of the recipient indicating that the request for the transfer is denied;
- receiving, by the computing system, a third text message from the mobile computing device, the third text message including a second user-input instruction with criteria defining unauthorized transactions electronically processed by a computer-based payment network for the payment vehicle;
- and
- updating, by a transaction engine of the computing system, logic associated with the payment vehicle such that electronic transaction requests meeting the criteria are automatically denied and electronic transaction requests not meeting the criteria are approved without requiring subsequent authorization from the holder of the payment vehicle.
8 more elements
A computing system of an issuer of a payment vehicle, the computing system comprising one or more processors coupled to memory, the computing system configured to:
- receive a text message from a mobile computing device of a holder of the payment vehicle, the text message including a user-input instruction of the holder of the payment vehicle, the user-input instruction providing a time range during which transfers from an online banking account for the payment vehicle are to be disabled while permitting access to a status of the online banking account;
- receive a request for a transfer from the online banking account for the payment vehicle to a recipient;
- determine that the request for the transfer from the online banking account for the payment vehicle to the recipient is received during the time range provided in the user-input instruction;
- and
- in response to determining that the request for the transfer from the online banking account for the payment vehicle is received during the time range:
- deny the request for the transfer from the online banking account for the payment vehicle,
- transmit a second text message to the mobile computing device indicating that the request for the transfer is denied, and
- transmit an electronic message to a point-of-sale (POS) terminal of the recipient indicating that the request for the transfer is denied;
- receive a third text message from the mobile computing device, the third text message including a second user-input instruction with criteria defining unauthorized transactions electronically processed by a computer-based payment network for the payment vehicle;
- and
- update logic associated with the payment vehicle such that electronic transaction requests meeting the criteria are automatically denied and electronic transaction requests not meeting the criteria are approved without requiring subsequent authorization from the holder of the payment vehicle.
8 more elements
Dependencies are inferred from the claim text.