Transaction security apparatus and method

Abstract

A transaction security apparatus which comprises a receiver for receiving one of a limitation and a restriction on an account usage, wherein the one of a limitation and a restriction on an account usage are received in real-time from an individual account holder, a memory for storing the one of a limitation and a restriction on an account usage, and a central processing device for processing an authorization request for a transaction on an account in conjunction with the one of a limitation and a restriction on an account usage. The central processing device generates a first signal, wherein the first signal contains information for one of authorizing and disallowing the transaction. A method for transaction security which comprises receiving one of a limitation and a restriction on an account usage, wherein the one of a limitation and a restriction on an account usage are received in real-time from an individual account holder, storing the one of a limitation and a restriction on an account usage, processing an authorization request for a transaction on an account in conjunction with the one of a limitation and a restriction on an account usage, and determining whether the transaction is one of authorized and unauthorized.

Dependencies are inferred from the claim text.