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:
Apr. 07, 2009
Filed:
Dec. 20, 2005
Bruce Dragt, Highlands Ranch, CO (US);
Daniel Ahles, Houston, TX (US);
Bruce Dragt, Highlands Ranch, CO (US);
Daniel Ahles, Houston, TX (US);
First Data Corporation, Greenwood Village, CO (US);
Abstract
Systems and methods are provided for a simplified risk assessment for a promissory transaction when sufficient historical transaction information exists for the check writer. In an embodiment, a computerized method for determining authorization of a financial transaction comprises maintaining a historical transaction value for past transactions associated with related promissory payments, receiving a request from a merchant to determine authorization of a financial transaction associated with a proffered promissory payment, the proffered promissory payment having at least one transaction identifier, accessing the historical transaction value associated with the related promissory payments, and determining based on the historical transaction value whether to authorize the financial transaction based a risk score or whether to authorize the financial transaction based on data stored in a negative database.