Methods and systems for controlling and monitoring token spend

Patent metadata

Field	Value
Publication number	US-2020134622-A1
Application number	US-201916669778-A
Country	US
Kind code	A1
Filing date	Oct 31, 2019
Priority date	Oct 31, 2018
Publication date	Apr 30, 2020
Grant date	—

Abstract

An embodiment of the present invention is directed to applying token spend controls. A mobile device comprises a microprocessor, coupled to a memory component and an interface, configured to perform the steps of: identifying a payment card associated with the mobile device; generating a unique token based at least in part on a combination of the payment card and the mobile device; identifying one or more spend limits and controls placed on the payment card that is specific to an authorized user of the payment card; tracking the payment card usage by the authorized user; generating and displaying, via the interactive user interface, the payment card usage; and providing a notification when the payment card usage exceeds the one or more spend limits and controls.

First claim

What is claimed is:

1 . A mobile device for applying token spend controls, the mobile device comprising:
a memory component that stores user spend data; an interactive interface that receives user input and communicates via a communication network; and a microprocessor, coupled to the memory component and the interactive interface, configured to perform the steps of: identifying a payment card associated with the mobile device; generating a unique token based at least in part on a combination of the payment card and the mobile device; identifying one or more spend limits and controls placed on the payment card that is specific to an authorized user of the payment card; tracking the payment card usage by the authorized user; generating and displaying, via the interactive interface, the payment card usage; and providing a notification when the payment card usage exceeds the one or more spend limits and controls.

2 . The mobile device of claim 1 , wherein the spend limit comprises a dollar amount limit on spend for a predetermined time period.

3 . The mobile device of claim 2 , wherein the predetermined time period comprises one of: one day, a week, and a month.

4 . The mobile device of claim 1 , wherein the notification is communicated to one or more authorized recipients.

5 . The mobile device of claim 1 , wherein the spend limits and controls are managed in a spend control database.

6 . The mobile device of claim 1 , wherein the spend limits and controls are defined by a set of rules defined and managed by a rules engine.

7 . The mobile device of claim 6 , wherein the set of rules comprises business rules.

8 . The mobile device of claim 1 , wherein the payment card usage comprises current actual spend, a daily spend limit and a monthly spend limit.

9 . The mobile device of claim 8 , wherein the payment card usage is for a plurality of users.

10 . The mobile device of claim 9 , wherein the plurality of users comprise family members.

11 . A method for applying token spend controls, the method comprising the steps of:
identifying, via a microprocessor, a payment card and a user device that is associated with the payment card; generating a unique token based at least in part on the payment card and the user device; identifying one or more spend limits and controls placed on the payment card that is specific to an authorized user of the payment card; tracking the payment card usage by the authorized user; generating and displaying, via an interactive user interface, the payment card usage; and providing a notification when the payment card usage exceeds the one or more spend limits and controls.

12 . The method of claim 11 , wherein the spend limit comprises a dollar amount limit on spend for a predetermined time period.

13 . The method of claim 12 , wherein the predetermined time period comprises one of: one day, a week, and a month.

14 . The method of claim 11 , wherein the notification is communicated to one or more authorized recipients.

15 . The method of claim 11 , wherein the spend limits and controls are managed in a spend control database.

16 . The method of claim 11 , wherein the spend limits and controls are defined by a set of rules defined and managed by a rules engine.

17 . The method of claim 16 , wherein the set of rules comprises business rules.

18 . The method of claim 11 , wherein the payment card usage comprises current actual spend, a daily spend limit and a monthly spend limit.

19 . The method of claim 18 , wherein the payment card usage is for a plurality of users.

20 . The method of claim 19 , wherein the plurality of users comprise family members.

Assignees

• Jpmorgan Chase Bank Na

Inventors

• Panchomarthi Sangameswara Rao
• Pingle Monish
• Patel Parth K
• Pillai Vinish
• Kakarla Rajini
• Choi Domerick Dingming

Classifications

• G06Q20/10

  specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems · CPC title

• G06Q20/405 Primary

  Establishing or using transaction specific rules · CPC title

• G07F17/3237

  about the players, e.g. profiling, responsible gaming, strategy/behavior of players, location of players · CPC title

• G06Q20/326

  Payment applications installed on the mobile devices · CPC title

• G06Q20/322

  Aspects of commerce using mobile devices [M-devices] · CPC title