Systems and methods for remotely authenticating credit card transactions

A method for remotely authenticating credit card transactions of a consumer comprising:

• receiving at a computer system of a credit card processor an authorization request from a merchant for completing the credit card transaction;
• determining using the computer system whether characteristics of the transaction compared to certain criteria trigger a theft prevention procedure, wherein the characteristics and criteria comprise:
• a type of the transaction;
• an amount of the transaction;
• a type of a product being purchased;
• and
• a frequency of previous transactions of the same type or amount;
• sending from the computer system an alert to a mobile device of the consumer based on the determination;
• sending, by the computer system, based on a response to the alert from the consumer rejecting the transaction, a warning code to the merchant indicating the merchant should collect a credit card linked to the credit card transaction;
• disallowing the transaction to complete based on the response to the alert is rejecting the transaction;
• receiving a policy to authorize the transaction to complete if there is no response to the alert sent to the mobile device of the consumer;
• and
• based on no response to the alert sent to the mobile device, sending, by the computer system, an authorization code to the merchant to complete the transaction.

A non-transitory computer readable medium having computer executable instructions thereon for remotely authenticating credit card transactions of a consumer comprising, the instruction being for:

• receiving an authorization request from a merchant for completing the credit card transaction;
• determining using a computer system whether characteristics of the transaction compared to certain criteria trigger a theft prevention procedure, wherein the characteristics and criteria comprise:
• a type of the transaction;
• an amount of the transaction;
• a type of a product being purchased;
• and
• a frequency of previous transactions of the same type or amount;
• sending from the computer system an alert to a mobile device of the consumer based on the determination;
• sending to the merchant, based on based on a response to the alert from the consumer rejecting the transaction, a warning code to the merchant indicating the merchant should collect a credit card linked to the credit card transaction;
• disallowing the transaction to complete based on the response to the alert is rejecting the transaction;
• receiving a policy to authorize the transaction to complete if there is no response to the alert sent to the mobile device of the consumer;
• and
• based on no response to the alert sent to the mobile device, sending, by the computer system, an authorization code to the merchant to complete the transaction.