Methods for risk management in payment-enabled mobile device

A payment-enabled mobile device, comprising:

• a processor;
• a memory operably connected to the processor, the memory storing a payment application program;
• an antenna operably connected to the processor;
• a transceiver operably connected to the antenna and configured to exchange wireless signals with a proximity reader component of a point of sale (POS) terminal, wherein the transceiver operates under control of the processor and the payment application program;
• and
• a nonvolatile memory operably connected to the processor and implementing a first accumulator and a different second accumulator, wherein the nonvolatile memory also implements a first counter associated with the first accumulator and a second counter associated with the second accumulator;
• and wherein the processor is controlled by the payment application program to:
• detect a tap on a proximity reader component;
• refer to a count tracked by the first counter regarding payment usage aspects and stored in the first accumulator to determine whether to decline a current transaction;
• and
• refer to a count tracked by the second counter regarding risk management aspects and stored in the second accumulator to determine whether to require a user of the mobile device to perform at least one cardholder verification method (CVM) as a condition of consummating the current transaction.

A method comprising:

• receiving, by a payment-enabled mobile device having a display component for displaying information, user input comprising performance of a cardholder verification method (CVM);
• verifying, by the payment-enabled mobile device, the user input;
• setting a CVM-verified status;
• initiating, by the payment-enabled mobile device, a count-down function for indicating a future point in time at which the CVM-verified status will expire;
• and
• providing a visual count-down display to the user via the display component, the visual count-down display sequentially updated by the payment-enabled mobile device to present current values of the count-down function.

A method comprising:

• receiving, by a payment-enabled mobile device from a user, pre-transaction user input;
• storing, in the payment-enabled mobile device, an indication of the pre-transaction user input;
• detecting, by the payment-enabled mobile device, that it is tapped on a proximity reader component in connection with a purchase transaction;
• reading the indication;
• and
• consummating, by the payment-enabled mobile device, the purchase transaction without requiring the device to be tapped a second time on the proximity reader component, wherein the indication comprises at least one of (a) a transaction acknowledgment signal and (b) performance of a cardholder verification method (CVM).

A method, comprising:

• receiving, by a payment enabled mobile device, selection by a user of a pre-entry function;
• prompting, by the payment enabled mobile device, the user to perform a cardholder verification method (CVM);
• receiving user input associated with the CVM;
• verifying, by the payment enabled mobile device, the CVM;
• setting, by the payment enabled mobile device, a CVM-verified status;
• receiving, by the payment enabled mobile device when tapped on a proximity reader component of a point of sale (POS) terminal, transaction information associated with a purchase transaction;
• determining, by the payment enabled mobile device based on the transaction information, that the purchase transaction is a qualified transaction and that the CVM-verified status is set;
• and
• transmitting, by the payment enabled mobile device to the POS terminal, a payment card account number to consummate the purchase transaction.

A payment-enabled mobile device, comprising:

• a processor;
• an antenna operably connected to the processor;
• a transceiver coupled to the antenna and operably connected to the processor and operable to exchange wireless signals via the antenna with a proximity reader component of a point of sale (POS) terminal:
• and
• a memory operably connected to the processor, the memory storing a payment application program operable to cause the processor to:
• receive selection by a user of a pre-entry function;
• prompt the user to perform a cardholder verification method (CVM);
• receive user input associated with the CVM;
• verify the CVM;
• set a CVM-verified status;
• receive, when the transceiver is tapped on the proximity reader component of the POS terminal, transaction information associated with a purchase transaction;
• determine, based on the transaction information, that the purchase transaction is a qualified transaction and that the CVM-verified status is set;
• and
• transmit a payment card account number to the reader component of the POS terminal to consummate the purchase transaction.