Eric F Kowalchyk

Title: Innovations by Eric F Kowalchyk

Introduction

Eric F Kowalchyk is a notable inventor based in Campbell, CA (US). He has made significant contributions to the field of payment transaction risk assessment. With a total of 5 patents to his name, Kowalchyk's work focuses on enhancing the security and efficiency of payment systems.

Latest Patents

One of his latest patents is titled "Method and system for assessing merchant risk during payment transaction." This invention outlines a system where a consumer presents a transaction card to a merchant for purchasing goods or services. The merchant's payment device, such as a payment terminal or mobile device, processes the payment using a risk assessment system. The card data received is sent to this system, which generates an indicator representing the risk associated with accepting the payment. This risk indicator helps merchants make informed decisions regarding the likelihood of fraud or chargebacks. If the risk level is deemed too high, the merchant has the option to reject the card. The system utilizes data from various sources, including the consumer's credit history and identity verification.

Career Highlights

Kowalchyk is currently employed at Intuit, Inc., where he continues to innovate in the realm of financial technology. His work has been instrumental in developing systems that enhance transaction security for both merchants and consumers.

Collaborations

Some of his notable coworkers include See Yew Mo and Jimmy M Lu, who contribute to the collaborative environment at Intuit, Inc.

Conclusion

Eric F Kowalchyk's innovations in payment transaction risk assessment demonstrate his commitment to improving financial security. His contributions are vital in the ongoing evolution of payment systems, ensuring safer transactions for consumers and merchants alike.