Systems and methods for initiating and authorizing transactions using a detectable device

Patent metadata

Field	Value
Publication number	US-10296906-B2
Application number	US-201815863587-A
Country	US
Kind code	B2
Filing date	Jan 5, 2018
Priority date	Apr 14, 2014
Publication date	May 21, 2019
Grant date	May 21, 2019

Abstract

A system for initiating and authorizing a transaction including one or more memory devices storing instructions and one or more processors configured to execute the instructions to associate a detectable device with at least one financial account. The one or more processors may be further configured to receive a notification indicating that the detectable device is involved in a potential transaction initiated by a sensor device detecting the detectable device in an initiating action. The one or more processors may be further configured to receive transaction information associated with the potential transaction. The one or more processors may be further configured to identify a customer profile associated with the detectable device, and determine whether the potential transaction is authorized by a customer based on the transaction information and at least one profile customization parameter associated with the customer profile.

First claim

What is claimed is:

1. A merchant device for initiating and authorizing a transaction, comprising:
one or more memory devices storing instructions; and
one or more processors configured to execute the instructions to:
determine that a wearable device was wirelessly detected in an initiating action by a sensor device wherein the initiating action includes the wearable device moving from a first designated area to a second designated area;
initiate a potential transaction by communicating with the wearable device;
receive transaction information associated with the potential transaction from a merchant server;
identify, by the one or more processors, a customer profile associated with the wearable device; and
determine, by the one or more processors, whether the potential transaction is authorized by a customer based on the transaction information and at least one profile customization parameter associated with the customer profile.

2. The merchant device of claim 1 , wherein the one or more processors is further configured to execute instructions to transmit a result of the determination to at least one of the wearable device, a profile management device, or a financial service provider system.

3. The merchant device of claim 1 , wherein the one or more processors are further configured to execute instructions to determine whether the potential transaction is authorized by a merchant or a financial service provider based on the transaction information and at least one other profile customization parameter associated with the customer profile.

4. The merchant device of claim 1 , wherein the one or more processors is further configured to execute instructions to:
determine that additional information is required before it can be determined that the potential transaction is authorized by the customer;
receive the additional information from the wearable device; and
determine that the potential transaction is authorized by the customer based on the received additional information.

5. The merchant device of claim 1 , wherein the transaction information includes at least one of an amount of the potential transaction, a merchant associated with the potential transaction, a time of the potential transaction, or a location of the potential transaction.

6. The merchant device of claim 1 , wherein the at least one profile customization parameter includes at least one of a customer-input rule, a merchant rule, or a financial service provider rule.

7. The merchant device of claim 1 , wherein the one or more processors is further configured to execute instructions to determine whether the potential transaction is authorized by a customer based on transaction information and at least one other profile customization parameter.

8. The merchant device of claim 1 , wherein receiving transaction information associated with the potential transaction also includes the merchant device transmitting the potential transaction information to a profile management device.

9. The merchant device of claim 1 further comprising the sensor device.

10. The merchant device of claim 9 , wherein the instructions to detect that the wearable device is in an initiating action further include instructions to determine the operating mode of the wearable device.

11. The merchant device of claim 10 , wherein the one or more processors is further configured to execute instructions to provide power to the wearable device if the operating mode of the wearable device requires power.

12. The merchant device of claim 9 , wherein the instructions to detect that the wearable device is in an initiating action further include instructions to determine whether the wearable device is approved for use within the first or second designated areas.

13. The merchant device of claim 12 , wherein the one or more processors is further configured to execute instructions to alert the determined approval within the first or second designated areas to at least one of the wearable device, a profile management device, or a financial service provider system.

14. The merchant device of 1 , wherein the one or more processors are further configured to execute instructions to:
determine that the potential transaction is not authorized by a customer based on the transaction information and at least one profile customization parameter associated with the customer profile; and
prevent the potential transaction based on the determination that the transaction is not authorized.

15. The merchant device of 14 , wherein the one or more processors are further configured to execute instructions to notify an employee associated with the merchant server of the unauthorized potential transaction.

16. The merchant device of 14 , wherein the one or more processors are further configured to execute instructions to transmit an indication that the potential transaction is unauthorized to one of the wearable device, a profile management device, or a financial service provider system.

Assignees

• Capital One Financial Corp

Inventors

• Kendrick Jesse N
• Lafeer Mohamed
• Rephlo Jeremy

Classifications

• G06Q20/40 Primary

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title