Method and system for notifications triggered using data tracking algorithms

A method for monitoring for unwanted recurring transactions, comprising:

• storing, in an account database of a processing server, a plurality of account profiles, wherein each account profile includes a structured data set related to a transaction account including at least a primary account number, communication details, and a plurality of transaction data entries, each transaction data entry including data related to a completed transaction involving the related transaction account including at least a paid amount, merchant identifier, and indication of the related complete transaction being a recurring or non-recurring transaction;
• receiving, by a receiving device of the processing server, a transaction message related to a payment transaction, wherein the transaction message is formatted pursuant to one or more standards and includes at least a plurality of data elements including at least a first data element configured to store a specific primary account number, a second data element configured to store a transaction amount, a third data element configured to store a specific merchant identifier, and a fourth data element configured to store an indication of a recurring payment transaction;
• executing, by a querying module of the processing server, a query on the account database to identify a specific account profile where the included primary account number corresponds to the specific primary account number stored in the first data element included in the received transaction message;
• identifying, by a data identification module of the processing server, at least one transaction data entry included in the identified specific account profile that includes the specific merchant identifier and an indication of being a recurring transaction;
• determining, by the data identification module of the processing server, a likelihood of an unwanted recurring payment based on at least the transaction amount stored in the second data element included in the received transaction message and the paid amount included in each of the identified at least one transaction data entries;
• and
• electronically transmitting, by a transmitting device of the processing server, a data signal to a computing device based on the communication details included in the identified specific account profile, wherein the data signal is superimposed with at least data stored in the plurality of data elements included in the received transaction message.

A system for monitoring for unwanted recurring transactions, comprising:

• an account database of a processing server configured to store a plurality of account profiles, wherein each account profile includes a structured data set related to a transaction account including at least a primary account number, communication details, and a plurality of transaction data entries, each transaction data entry including data related to a completed transaction involving the related transaction account including at least a paid amount, merchant identifier, and indication of the related complete transaction being a recurring or non-recurring transaction;
• a receiving device of the processing server configured to receive a transaction message related to a payment transaction, wherein the transaction message is formatted pursuant to one or more standards and includes at least a plurality of data elements including at least a first data element configured to store a specific primary account number, a second data element configured to store a transaction amount, a third data element configured to store a specific merchant identifier, and a fourth data element configured to store an indication of a recurring payment transaction;
• a querying module of the processing server configured to execute a query on the account database to identify a specific account profile where the included primary account number corresponds to the specific primary account number stored in the first data element included in the received transaction message;
• a data identification module of the processing server configured to determine a likelihood of an unwanted recurring payment based on at least a lack of transaction data entries included in the identified specific account profile that include the specific merchant identifier and an indication of being a recurring transaction;
• and
• a transmitting device of the processing server configured to electronically transmit a data signal to a computing device based on the communication details included in the identified specific account profile, wherein the data signal is superimposed with at least data stored in the plurality of data elements included in the received transaction message.

A system for monitoring for unwanted recurring transactions, comprising:

• an account database of a processing server configured to store a plurality of account profiles, wherein each account profile includes a structured data set related to a transaction account including at least a primary account number, communication details, and a plurality of transaction data entries, each transaction data entry including data related to a completed transaction involving the related transaction account including at least a paid amount, merchant identifier, and indication of the related complete transaction being a recurring or non-recurring transaction;
• a receiving device of the processing server configured to receive a transaction message related to a payment transaction, wherein the transaction message is formatted pursuant to one or more standards and includes at least a plurality of data elements including at least a first data element configured to store a specific primary account number, a second data element configured to store a transaction amount, a third data element configured to store a specific merchant identifier, and a fourth data element configured to store an indication of a recurring payment transaction;
• a querying module of the processing server configured to execute a query on the account database to identify a specific account profile where the included primary account number corresponds to the specific primary account number stored in the first data element included in the received transaction message;
• a data identification module of the processing server configured to
• identify at least one transaction data entry included in the identified specific account profile that includes the specific merchant identifier and an indication of being a recurring transaction, and
• determine a likelihood of an unwanted recurring payment based on at least the transaction amount stored in the second data element included in the received transaction message and the paid amount included in each of the identified at least one transaction data entries;
• and
• a transmitting device of the processing server configured to electronically transmit a data signal to a computing device based on the communication details included in the identified specific account profile, wherein the data signal is superimposed with at least data stored in the plurality of data elements included in the received transaction message.