Transaction security apparatus and method

US 5,903,830 A
Filed: 06/12/1997
Issued: 05/11/1999
Est. Priority Date: 08/08/1996
Status: Expired due to Term

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1. A transaction security apparatus, which comprises:

a receiver for receiving one of a limitation and a restriction on an account usage, wherein said one of a limitation and a restriction on an account usage are received in real-time from an individual account holder;

a memory device for storing said 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 said one of a limitation and a restriction on an account usage,wherein said central processing device generates a first signal, wherein said first signal contains information for one of authorizing and disallowing the transaction.

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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.

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20 Claims

1. A transaction security apparatus, which comprises:
- a receiver for receiving one of a limitation and a restriction on an account usage, wherein said one of a limitation and a restriction on an account usage are received in real-time from an individual account holder;
  
  a memory device for storing said 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 said one of a limitation and a restriction on an account usage,wherein said central processing device generates a first signal, wherein said first signal contains information for one of authorizing and disallowing the transaction.
- View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
- - 2. The apparatus of claim 1, wherein said account is one of a credit card account, a charge card account, a debit card account, a currency card account, a "smart" card account, a bank account, a savings account, a checking account, an automated teller machine account, a cellular telephone account, and a cellular communication device account.
  - 3. The apparatus of claim 1, wherein said one of a limitation and a restriction on an account usage is one of a type of authorized transaction, one of a good and a service authorized, authorized one of vendor, store, and service provider, transaction amount limitation, daily spending limit, authorized geographical area of usage, authorized time of usage, authorized individual, transaction limit for one of a savings account, a checking account, a bank account, and an automated teller machine account, authorized individual for transacting on a savings account, a checking account, a bank account, and an automated teller machine account, proof of identity required for transaction, one of bank and financial institution authorized for the transaction, a limitation of a fee charge on an account, automated teller machine account access code, authorized transaction location, authorized telephone number, authorized telephone calling time, authorized telephone calling area, authorized telephone calling destination, authorized number of telephone calls, authorized incoming telephone call, authorized telephone call duration, and authorized telephone call one of cost and transaction amount.
  - 4. The apparatus of claim 1, wherein said receiver receives a transaction authorization request signal.
  - 5. The apparatus of claim 1, wherein said apparatus further comprises:
    - a transmitter for transmitting a notification signal to an account holder in response to the authorization request.
  - 6. The apparatus of claim 5, wherein said notification signal is transmitted to an individual communication device.
  - 7. The apparatus of claim 6, wherein said individual communication device is one of a telephone, a beeper, a pager, a two-way pager, a reply pager, a home computer, a personal computer, a personal communication device, a personal communication services device, a digital communications device, a television, an interactive television, a digital television, a personal digital assistant, a display telephone, a radio, a car radio, a video telephone, a watch, a cellular telephone, a wireless telephone, a mobile telephone, a display cellular telephone, and a facsimile machine.
  - 8. The apparatus of claim 1, wherein said one of a limitation and a restriction on an account usage is transmitted to said receiver from one of a telephone, a touch-tone telephone, a two-way pager, a reply pager, a home computer, a personal computer, a personal communication device, a personal communication services device, a digital communications device, a television, an interactive television, a digital television, a personal digital assistant, a display telephone, a video telephone, a watch, a cellular telephone, a wireless telephone, a mobile telephone, a display cellular telephone, and a facsimile machine.
  - 9. The apparatus of claim 1, wherein said authorization request is transmitted from one of a point-of-sale device, a transaction device, a cellular telephone, and a cellular communication device.
  - 10. The apparatus of claim 1, wherein said one of a limitation and a restriction on an account usage is transmitted one of on-line and via a non-voice signal.
  - 11. The apparatus of claim 1, wherein said apparatus further comprises:
    - means for counting a number of unauthorized transactions which occur on an account.
  - 12. The apparatus of claim 5, wherein said notification signal contains one of transaction type, transaction amount, location of transaction, time of transaction, and one of good and service involved in the transaction.
  - 13. The apparatus of claim 1, wherein said apparatus operates one of on and over a telecommunication network, a satellite communication network, a radio communication network, a digital communications network, a cellular communication network, a personal communications services communication network, the Internet, and the World Wide Web.

14. A transaction security apparatus, which comprises:
- means for receiving one of a limitation and a restriction on an account usage, wherein said one of a limitation and a restriction on an account usage are received in real-time from an individual account holder;
  
  means for storing said one of a limitation and a restriction on an account usage; and
  
  means for processing an authorization request for a transaction on an account in conjunction with said one of a limitation and a restriction on an account usage,wherein said processing means generates a first signal, wherein said first signal contains information for one of authorizing and disallowing the transaction.
- View Dependent Claims (15, 16)
- - 15. The apparatus of claim 14, wherein said apparatus further comprises:
    - means for transmitting a notification signal to an account holder in response to the authorization request.
  - 16. The apparatus of claim 14, wherein said apparatus further comprises:
    - means for counting a number of unauthorized transactions which occur on an account.

17. A method for transaction security, which comprises:
- receiving one of a limitation and a restriction on an account usage, wherein said one of a limitation and a restriction on an account usage are received in real-time from an individual account holder;
  
  storing said one of a limitation and a restriction on an account usage;
  
  processing an authorization request for a transaction on an account in conjunction with said one of a limitation and a restriction on an account usage; and
  
  determining whether the transaction is one of authorized and unauthorized.
- View Dependent Claims (18, 19, 20)
- - 18. The method of claim 17, further comprising:
    - notifying an account holder of the transaction.
  - 19. The method of claim 17, further comprising:
    - counting a number of unauthorized transactions which occur on an account.
  - 20. The method of claim 17, wherein said account is one of a credit card account, a charge card account, a debit card account, a currency card account, a "smart" card account, a bank account, a savings account, a checking account, an automated teller machine account, a cellular telephone account, and a cellular communication device account.

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Current Assignee
Joao Bock Transaction Systems, LLC (Raymond Anthony Joao)
Original Assignee
Raymond Anthony Joao, Robert Richard Bock
Inventors
Joao, Raymond Anthony, Bock, Robert Richard
Primary Examiner(s)
Chin, Wellington
Assistant Examiner(s)
Ferguson, Keith

Application Number

US08/874,051
Time in Patent Office

698 Days
Field of Search

455/410, 455/411, 455/405, 455/406, 455/407, 455/408, 455/409, 455/426, 379/91.01, 379/91.02, 379/93.17, 379/93.23, 379/93.02, 340/825.33, 340/825.34, 340/825.44, 340/825.3, 340/825.32, 705/38
US Class Current

455/406
CPC Class Codes

G06Q 20/04   Payment circuits

G06Q 20/321   using wearable devices

G06Q 20/3227   using secure elements embed...

G06Q 20/40   Authorisation, e.g. identif...

G06Q 20/403   Solvency checks

G06Q 20/425   using two different network...

Transaction security apparatus and method

First Claim

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Abstract

823 Citations

20 Claims

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Transaction security apparatus and method

First Claim

1 Assignment

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0 Petitions

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Accused Products

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Abstract

823 Citations

20 Claims

Specification

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