Method and system for assessing merchant risk during payment transaction

A method for assessing risk associated with accepting payment from a consumer during a transaction, the method comprising:

• receiving, at a mobile communication device operable by a merchant to receive payment from the consumer, data related to a transaction card tendered by the consumer to pay for a good or a service provided by the merchant, the data being received in real-time before the transaction has been completed;
• receiving, at the mobile communication device, an indicator representing the risk associated with accepting payment from the consumer using the transaction card, the indicator being received in real-time before the transaction has been completed;
• and
• determining whether to accept payment from the consumer using the transaction card based at least in part upon the indicator in real-time before the transaction has been completed.

A method for assessing risk associated with accepting payment from a consumer during a transaction, the method comprising:

• receiving, at a mobile communication device operable by a merchant to receive payment from the consumer, data related to a transaction card tendered by the consumer to pay for a good or a service provided by the merchant, the data being received in real-time before the transaction has been completed;
• receiving, through a network and at the mobile communication device, an indicator representing the risk associated with accepting payment from the consumer using the transaction card, the indicator being based at least in part upon data of one or more prior transactions involving the consumer, the data being received in real-time before the transaction has been completed;
• and
• determining whether to accept payment from the consumer using the transaction card based at least in part upon the score and in real-time before the transaction has been completed.