Method and System for Controlling Risk in a Payment Transaction
AssigneeMastercard International Incorporated
InventorArthur D. Kranzley
Life of this patent
Estimating the term…
Abstract
Example embodiments of the presently described subject matter are described that require a customer to use a secure payment token if, during a payment transaction, it is determined that the payment transaction poses a risk. A risk analysis may be performed based at least in part on data related to the payment transaction, such as data related to the customer, the transaction itself, the merchant, etc. If the results of the risk analysis indicate that an unacceptable amount of risk exists, the merchant or any interested party may require the customer to use a secure payment token, for example, a smart card, to conduct the transaction. Otherwise, the customer may proceed by using a static payment token, for example a credit card or PIN/password-based payment token.
Claims17
A method for controlling risk in a payment transaction between a customer and a merchant using a secure payment token comprising:
- receiving transaction data related to said payment transaction;
- performing, by a risk analyzer comprising a non-transitory computer readable medium including executable instructions thereon, a risk analysis, said risk analysis based at least in part on said transaction data;
- and
- requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.
A method for controlling risk in a payment transaction between a customer and a merchant using a secure payment token comprising:
- receiving the results of performing a risk analysis, said risk analysis based at least in part on said transaction data, said transaction data related to said payment transaction;
- and
- requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.
A non-transitory computer readable medium including executable instructions thereon for controlling risk in a payment transaction between a customer and a merchant using a secure payment token, the instructions comprising the steps of:
- receiving transaction data related to said payment transaction;
- performing a risk analysis based at least in part on said transaction data;
- and
- requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.
Dependencies are inferred from the claim text.