Patent ID: 9240005
Filing Date: 2016-01-19
CPC Classification: G06Q,G07F

Claim Text:
1. A payment-enabled mobile device, comprising: at least one mobile device processor comprising a non-volatile memory storing a first counter and an associated first accumulator used for financial risk management purposes prescribed by an issuer of a payment card account, and storing a second counter and an associated second accumulator used for risk management purposes related to a lost or stolen mobile device prescribed by the issuer, and storing a payment application program; an antenna; and a transceiver, coupled to the antenna, for exchanging wireless signals via the antenna with a proximity reader component; the transceiver operating under control by the at least one mobile device processor and the payment application program; wherein the payment application program includes instructions configured by the issuer of the payment card account assigned to the user of the payment-enabled mobile device that cause the mobile device processor to: