US 2023/0401582 A1Published application

Identifying accurate locations of in-person payment card transactions to detect location-based payment card anomalies

AssigneeNortonLifeLock Inc.

InventorsKevin Alejandro Roundy, Platon Kotzias

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Abstract

Systems and methods for identifying accurate locations of in-person payment card transactions to detect location-based payment card anomalies. Some embodiments disclosed herein may enable identifying accurate locations of in-person payment card transactions to detect location-based payment card anomalies. In some embodiments, purchase data for a plurality financial transaction by a consumer that are performed in-person with a payment card may be received. The purchase data may identify merchant locations that are associated with each financial transaction. The merchant locations may be analyzed to determine whether they represent true physical locations of the financial transactions. Once a plurality of true physical locations has been identified, distances between them may be determined and a security action may be performed if the distances exceed a threshold.

Claims20

Dependent claims

A computer-implemented method for identifying accurate locations of in-person payment card transactions to detect location-based payment card anomalies, at least a portion of the method being performed by a computing device comprising one or more processors, the method comprising:

receiving purchase data for a new financial transaction by a consumer with a merchant that is performed in-person with a payment card, wherein the purchase data identifies the merchant and a merchant location that is associated with the new financial transaction;
receiving merchant data that includes a number of locations where the merchant transacts business and historical financial transaction data with the merchant, wherein the historical financial transaction data identifies a location, within the number of locations, where each historical financial transaction is reported to have been performed;
selecting, from the merchant data, a number of historical financial transactions to determine a frequency at which historical financial transactions are reported to have been performed at the merchant location that is associated with the new financial transaction;
calculating a probability that the merchant location that is associated with the new financial transaction is a true physical location of the new financial transaction, wherein the probability calculation uses the frequency at which the historical financial transactions are reported to have been performed at the merchant location that is associated with the new financial transaction and a probability value that is based, at least in part, on the number of locations where the merchant transacts business;
and
determining that the merchant location that is associated with the new financial transaction is the true physical location of the new financial transaction when the probability calculated is more than an identified probability threshold.

3 more elements

receiving purchase data for a new financial transaction by a consumer with a merchant that is performed in-person with a payment card, wherein the purchase data identifies the merchant and a merchant location that is associated with the new financial transaction;
receiving consumer data for a plurality of individuals that have performed an historical in-person financial transaction with the merchant, wherein the consumer data includes a reported location of non-merchant in-person financial transactions that the plurality of individuals performed on the same day as the historical financial transaction with the merchant;
calculating, from the consumer data, a fraction of the non-merchant financial transactions that the plurality of individuals performed on the same day as the historical financial transaction with the merchant that have a reported location that is the same as the merchant location that is associated with the new financial transaction;
and
determining that the merchant location that is associated with the financial transaction is the true physical location of the financial transaction when the fraction calculated is more than an identified fraction threshold.

2 more elements

(a) receiving purchase data for a first financial transaction by a consumer with a merchant that is performed in-person with a payment card, wherein the purchase data identifies the merchant, a merchant location that is associated with the first financial transaction, and a date on which the first financial transaction occurred;
(b) receiving merchant data that includes a number of locations where the merchant transacts business and historical financial transaction data with the merchant, wherein the historical financial transaction data identifies a location, within the number of locations, where each historical financial transaction is reported to have been performed;
(c) selecting, from the merchant data, a number of historical financial transactions to determine a frequency at which historical financial transactions are reported to have been performed at the merchant location that is associated with the first financial transaction;
(d) calculating a probability that the merchant location that is associated with the first financial transaction is a true physical location of the first financial transaction, wherein the probability calculation uses the frequency at which the historical financial transactions are reported to have been performed at the merchant location that is associated with the first financial transaction and a probability value that is based, at least in part, on the number of locations where the merchant transacts business;
(e) receiving consumer data for a plurality of individuals that have performed an historical in-person financial transaction with the merchant, wherein the consumer data includes a reported location of non-merchant in-person financial transactions that the plurality of individuals performed on a same day as the historical financial transaction with the merchant;
(f) calculating, from the consumer data, a fraction of the non-merchant financial transactions that the plurality of individuals performed on the same day as the historical financial transaction with the merchant that have a reported location that is the same as the merchant location that is associated with the first financial transaction;
(g) determining that the merchant location that is associated with the first financial transaction is the true physical location of the first financial transaction if the probability calculated is more than an identified probability threshold or the fraction calculated is more than an identified fraction threshold;
(h) repeating steps (a)-(g) for a second financial transaction by the consumer with another merchant that is performed in-person with the payment card on the date on which the first financial transaction occurred to determine a true physical location for the second financial transaction;
(i) determining a distance between the true physical locations of the first and second financial transactions;
and
(j) performing a security action if the distance between the true physical locations of the first and second financial transactions exceeds an identified distance threshold.

8 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/853,011Filed 29 Jun 2022
Priority: EP 22386037.014 Jun 2022
Published: 14 Dec 2023
Term ends: Not estimatedThe source records don’t support an estimate.

Classification6 codes

G06Q 20/4015
Transaction verification: using location information
G06Q 20/34
Characterised by the use of specific devices or networks: using cards, e.g. integrated circuit [IC] cards or magnetic cards
G06Q 20/354
Using cards, e.g. integrated circuit [IC] cards or magnetic cards: card activation or deactivation
G06Q 20/4016
Transaction verification: involving fraud or risk level assessment in transaction processing