Purchasing card transaction risk model
AssigneeFirst Data Corporation
InventorsClayton P. Spitz, Todd M. Anderson, Thomas F. Latham, David C. Guerin, Ernest J. Arbour, Jr.
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Abstract
A method for quantifying risk of fraud associated with a purchasing card transaction includes obtaining a charge-back history associated with a consumer involved in the purchasing card transaction; and determining a risk score based on the charge-back history. In one embodiment of the invention, the step of obtaining a charge-back history includes obtaining a reason code for each charge-back included in the charge-back history.
Claims30
A method for quantifying risk of fraud associated with a purchasing card transaction, the method comprising:
- obtaining a charge-back history associated with a consumer involved in the purchasing card transaction;
- comparing the charge-back history to predetermined ranges of charge-backs;
- and
- determining a risk score based on the comparison of the charge-back history to the predetermined ranges of charge-backs.
A method for quantifying risk of fraud associated with a purchasing card transaction, the method comprising:
- obtaining a charge-back history associated with a consumer involved in the purchasing card transaction, wherein the charge-back history includes charge-backs associated with a particular purchasing card account of the consumer, and a reason code for each charge-back;
- weighting each charge-back based on the corresponding reason code;
- and
- determining a risk score based on the weighted charge-backs.
A system for quantifying risk of fraud associated with a purchasing card transaction, the system comprising:
- an authorization source for obtaining a charge-back history associated with a consumer involved in the purchasing card transaction, the authorization source including a risk model for determining a risk score based on the charge-back history, wherein the risk model includes instructions for comparing the charge-back history to predetermined ranges of charge-backs in order to determine the risk score.
A computer system for quantifying risk of fraud associated with a purchasing card transaction, the computer system comprising:
- a database for storing a charge-back history associated with a consumer involved in the purchasing card transaction, the charge-back history including charge-backs associated with the consumer and a reason code for each charge-back;
- and
- a processor in communication with the database, the processor including a risk model that includes instructions for weighting each charge-back based on the corresponding reason code and instructions for determining a risk score based on the weighted charge-backs.
Dependencies are inferred from the claim text.