The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Nov. 12, 2024
Filed:
Oct. 31, 2019
Visa International Service Association, San Francisco, CA (US);
Liang Wang, Palo Alto, CA (US);
Dhruv Gelda, Palo Alto, CA (US);
Robert Christensen, Palo Alto, CA (US);
Wei Zhang, Palo Alto, CA (US);
Hao Yang, Palo Alto, CA (US);
Yan Zheng, Palo Alto, CA (US);
Visa International Service Association, San Francisco, CA (US);
Abstract
The system and method may assess the merchant risk level on a more continuous scale rather than a binary categorization. It may produce a continuous risk score proportional to the likelihood of a merchant being risky, effectively addressing the issue of shades of gray encountered by the traditional blacklisting approach. The continuous risk score feature provides greater flexibility as it allows the payment network to make dynamic pricing decisions (known as interchange optimization) based on the merchant risk level. Using collective intelligence from transactions across the payment network, the system and method may be able to assess the merchant risk level with high accuracy. The system and method may be particularly beneficial to small merchants with low transaction volume as even a few fraudulent transactions can easily put them in the high-risk merchant category. Further, the system and method may help payment processing networks make better decision on cross-border transactions.