Index of usability for a replacement payment card

Patent metadata

Field	Value
Publication number	US-11250436-B2
Application number	US-202016872483-A
Country	US
Kind code	B2
Filing date	May 12, 2020
Priority date	Jul 14, 2016
Publication date	Feb 15, 2022
Grant date	Feb 15, 2022

Abstract

A method for establishing an index of usability associated with a replacement payment card is provided. The method may include receiving a payment card replacement request in a vending facility. The method may further include identifying at least one possible risk factor associated with a user utilizing the replacement payment card. The method may also include creating a risk assessment based on the at least one identified possible risk factor. The method may further include establishing an index of usability for the replacement payment card based on the created assessment, whereby a value of the index of usability correlates to a plurality of restrictions placed on using the replacement payment card. The method may also include storing the established index of usability in a database.

First claim

What is claimed is:

1. A processor-implemented method for replacing a physical payment card with a replacement physical payment card having an associated index of usability, the method comprising:
identifying, by the processor, a plurality of risk factors associated with a user submitting a replacement physical payment card request;
creating, by the processor, a risk assessment based on the plurality of identified risk factors;
establishing, by the processor, an index of usability for the replacement physical payment card based on the created risk assessment, wherein a value of the index of usability correlates to a plurality of spending restrictions placed on a user purchase power with the replacement physical payment card, wherein the value of the index of usability decays over a period of time based on the risk assessment, wherein a high risk assessment correlates to a faster decay of the value of the index of usability, and wherein a low risk assessment correlates to a slower decay of the value of the index of usability;
determining, by the processor, one or more spending restrictions based on the established index of usability associated with the user submitting the replacement physical payment card request; and
dispensing a replacement physical payment card at a vending facility with the determined one or more spending restrictions based on the established index of usability associated with the user.

2. The method of claim 1 , further comprising:
monitoring a risk level associated with the replacement physical payment card while the user utilizes the replacement physical payment card; and
modifying the established index of usability based on the monitored risk level.

3. The method of claim 1 , wherein the plurality of risk factors comprises a current location of the user in relation to a home location of the user, whether the replacement physical payment card was requested due to a plurality of fraudulent activity, at least one other user being associated with an account associated with the replacement physical payment card, and a type and a value of a plurality of goods or a plurality of services previously purchased using the replacement physical payment card.

4. The method of claim 1 , wherein the created risk assessment assigns a risk level to the replacement physical payment card, and wherein the risk level is selected from a group consisting of a low risk level, a moderate risk level, and a high risk level.

5. The method of claim 1 , wherein the index of usability is a numerical value between zero and one, and wherein, in response to the created risk assessment having a high risk level, the index of usability is a numerical value closer to zero than to one and a greater number of the plurality of spending restrictions are associated with the replacement physical payment card, and wherein, in response to the created risk assessment having a low risk level, the index of usability is a numerical value closer to one than to zero and a lower number of the plurality of spending restrictions are associated with the replacement physical payment card.

6. The method of claim 1 , wherein the value of the index of usability is displayed on a display screen of a user device, and wherein the value of the index of usability is displayed as a numerical value or a color associated with a risk level associated with the created risk assessment.

7. The method of claim 1 , further comprising:
generating a graphical user interface on a user device that displays an icon in a color associated with the value of the index of usability.

8. A computer system for replacing a physical payment card with a replacement physical payment card having an associated index of usability, the computer system comprising:
one or more processors, one or more computer-readable memories, one or more computer-readable, non-transitory, tangible storage media, and program instructions stored on at least one of the one or more computer-readable, non-transitory, tangible storage media for execution by at least one of the one or more processors via at least one of the one or more memories, wherein the computer system is configured to:
identifying a plurality of risk factors associated with a user submitting a replacement physical payment card request;
creating a risk assessment based on the plurality of identified risk factors;
establishing an index of usability for the replacement physical payment card based on the created risk assessment, wherein a value of the index of usability correlates to a plurality of spending restrictions placed on a user purchase power with the replacement physical payment card, wherein the value of the index of usability decays over a period of time based on the risk assessment, wherein a high risk assessment correlates to a faster decay of the value of the index of usability, and wherein a low risk assessment correlates to a slower decay of the value of the index of usability;
determining one or more spending restrictions based on the established index of usability associated with the user submitting the replacement physical payment card request; and
dispensing a replacement physical payment card at a vending facility with the determined one or more spending restrictions based on the established index of usability associated with the user.

9. The computer system of claim 8 , further comprising:
monitoring a risk level associated with the replacement physical payment card while the user utilizes the replacement physical payment card; and
modifying the established index of usability based on the monitored risk level.

10. The computer system of claim 8 , wherein the plurality of risk factors comprises a current location of the user in relation to a home location of the user, whether the replacement physical payment card was requested due to a plurality of fraudulent activity, at least one other user being associated with an account associated with the replacement physical payment card, and a type and a value of a plurality of goods or a plurality of services previously purchased using the replacement physical payment card.

11. The computer system of claim 8 , wherein the created risk assessment assigns a risk level to the replacement physical payment card, and wherein the risk level is selected from a group consisting of a low risk level, a moderate risk level, and a high risk level.

12. The computer system of claim 8 , wherein the index of usability is a numerical value between zero and one, and wherein, in response to the created risk assessment having a high risk level, the index of usability is a numerical value closer to zero than to one and a greater number of the plurality of spending restrictions are associated with the replacement physical payment card, and wherein, in response to the created risk assessment having a low risk level, the index of usability is a numerical value closer to one than to zero and a lower number of the plurality spending of restrictions are associated with the replacement physical payment card.

13. The computer system of claim 8 , wherein the value of the index of usability is displayed on a display screen of a user device, and wherein the value of the index of usability is displayed as a numerical value or a color associated with a risk level associated with the created risk assessment.

14. The computer system of claim 8 , further comprising:
generating a graphical user interface on a user device that displays an icon in a color associated with the value of the index of usability.

15. A computer program product for replacing a physical payment card with a replacement payment card having

Assignees

• IBM

Inventors

• Goldberg Itzhack
• Hamilton Ii Rick A
• Mullen Shawn P
• Pickover Clifford A

Classifications

• G06Q20/4016 Primary

  involving fraud or risk level assessment in transaction processing · CPC title

• G06F16/2228

  Indexing structures · CPC title

• G06Q20/1085

  involving automatic teller machines [ATMs] · CPC title

• G06Q20/34

  using cards, e.g. integrated circuit [IC] cards or magnetic cards · CPC title

• G06Q20/405

  Establishing or using transaction specific rules · CPC title