Method and System for Authorizing an Electronic Transaction
US-2018053190-A1 · Feb 22, 2018 · US
Reported location correction system
US10565573B2 · US · B2
| Field | Value |
|---|---|
| Publication number | US-10565573-B2 |
| Application number | US-201615150982-A |
| Country | US |
| Kind code | B2 |
| Filing date | May 10, 2016 |
| Priority date | May 10, 2016 |
| Publication date | Feb 18, 2020 |
| Grant date | Feb 18, 2020 |
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- Title
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Abstract
Official abstract text for this publication.
In one embodiment, the location or zip code of purchasers in a card present electronic transaction may be reviewed and compared to the reported location or zip code of a merchant. If the difference or variance from the customer zip code or location to the customer location or zip code is over a threshold, the merchant is indicating as requiring additional attention.
First claim
Opening claim text (preview).
The invention claimed is: 1. A computer system for determining a location of point of sale comprising: a collection server which is physically configured to, for a plurality of electronic transactions at a plurality of merchants, collect a plurality of card present frequently shopped zip codes for a plurality of personal account numbers wherein each of the plurality of merchants includes a reported zip code indicating a location of each of the plurality of merchants, and at least one of the plurality of card present frequently shopped zip codes matches at least one of the reported zip codes; an analysis server which is physically configured to analyze the reported zip code for each of the plurality of merchants for transactions at a specific merchant location; a determination server which is physically configured to determine if a variance in the plurality of card present frequently shopped zip codes for a personal account number (PAN) of the plurality of personal account numbers and the reported zip code for a merchant of the plurality of merchants is above a threshold; and a communication server which, in response to the variance being over a threshold, is physically configured to create an alert indicating that the location of a merchant of the plurality of merchants does not match a card present frequently shopped zip code; wherein determining if the variance is over a threshold further comprises determining the weighted Gaussian Entropy (WGE) according to the formula: k 2(1+ln(2π))+½ ln |Σ|, wherein k denotes dimension, |Σ| denotes determinant of covariance matrix, and wherein a bivariate Gaussian distribution represents distribution of latitude and longitude of the card present frequently shopped zip codes.
Assignees
Inventors
Classifications
- G06Q20/20Primary
Point-of-sale [POS] network systems · CPC title
Device specific authentication in transaction processing · CPC title
involving fraud or risk level assessment in transaction processing · CPC title
- G06Q20/3224Primary
Transactions dependent on location of M-devices · CPC title
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Frequently asked questions
Answers are generated from the same data shown on this page.
- What does patent US10565573B2 cover?
- In one embodiment, the location or zip code of purchasers in a card present electronic transaction may be reviewed and compared to the reported location or zip code of a merchant. If the difference or variance from the customer zip code or location to the customer location or zip code is over a threshold, the merchant is indicating as requiring additional attention.
- Who is the assignee on this patent?
- Fomitchev Alexei, Epelman Aleksander, Kayton Nelli, and 5 more
- What technology area does this patent fall under?
- Primary CPC classification G06Q20/20. Mapped technology areas include Physics.
- When was this patent published?
- Publication date Tue Feb 18 2020 00:00:00 GMT+0000 (Coordinated Universal Time) (B2). Legal status and post-grant events are not shown on this page.
- What related patents are in patentsdb?
- We list 7 related publications on this page (citations in our corpus or others sharing the same primary CPC).