US 2014/0006284 A1 · PRE-AUTHORIZATION OF A TRANSACTION USING PREDICTIVE MODELING

Abstract

Systems, apparatus, and methods are provided for efficiently authorizing a transaction initiated by a consumer. An authorization can be generated before the consumer actually initiates the transaction. For example, a future transaction can be predicted, and an authorization can be generated for the predicted transaction. In this manner, the authorization can be ready and quickly used when the consumer does initiate the transaction. Previous transactions made by the consumer can be used to predict when the future transaction is likely. In various examples, the authorization can be sent to a specific merchant or to the consumer for use when the consumer initiates the predicted transaction, or saved by an authorization server for use in response to an authorization request from the merchant.

Claims20

Dependent claims

A method of using an authorization for a specific future transaction by a consumer, the method comprising:

performing a plurality of previous transactions;
receiving, with an electronic device, a token for authorization of a specific future transaction, wherein the authorization is for a time when the specific future transaction is predicted to be likely based on the previous transactions, and wherein the specific future transaction is identifiable by one or more keys that characterize the specific future transaction;
and
providing, with the electronic device, the authorization to a merchant at the time when the specific future transaction is predicted to be likely, wherein the generated authorization token is operable to be used during a process for authorizing a transaction that is initiated by the consumer and that matches the one or more keys, the authorization token authorizing payment from one or more accounts of the consumer.

1 more element

Dependencies are inferred from the claim text.

Pre-authorization of a transaction using predictive modeling

Life of this patent

Pre-authorization of a transaction using predictive modeling

Life of this patent

Abstract

Claims20