Method and system for authenticating online transactions
AssigneePlayspan Inc.
InventorsLex Bayer, Simon Ru, Mark Rose
Life of this patent
Estimating the term…
Abstract
The present invention generally relates to authenticating online transactions, and more specifically, to method and system for determining a potentially fraudulent online transaction request based on a risk parameter associated with a user in a networking platform such as, a social networking platform. The method comprises receiving an online transaction request from a user. Thereafter, determining the risk parameter of the user based on one or more profile parameters associated with the user or one or more peer users associated with the user in the community. Based on the risk parameter of the user the online transaction request of the user is authenticated.
Claims20
A method comprising:
- receiving an online transaction request from a user;
- accessing a plurality of profile parameters associated with the user in an online community, each profile parameter having a plurality of subdivided levels;
- comparing each profile parameter of the plurality of profile parameters with their respective subdivided levels to obtain assigned weights corresponding to each profile parameter;
- determining, by a computing device, a risk parameter indicating a level of trustworthiness of the user based on at least the assigned weights of the profile parameters by collating the assigned weights of the profile parameters, and averaging the assigned weights of the profile parameters;
- and
- authenticating the online transaction request based at least in part on the risk parameter associated with the user.
A system for authenticating online transactions, the system comprising:
- a memory for storing data associated with a plurality of profile parameters associated with a user of an online community;
- a processor coupled to the memory, wherein the processor is configured to:
- receive an online transaction request from a user;
- access a plurality of profile parameters associated with the user in an online community, each profile parameter having a plurality of subdivided levels;
- compare each profile parameter of the plurality of profile parameters with their respective subdivided levels to obtain assigned weights corresponding to each profile parameter;
- determine, by a computing device, a risk parameter indicating a level of trustworthiness of the user based on at least the assigned weights of the profile parameters by collating the assigned weights of the profile parameters, and averaging the assigned weights of the profile parameters;
- and
- authenticate the online transaction request based at least in part on the risk parameter associated with the user.
Dependencies are inferred from the claim text.