Patent ID: 9569767
Date: 2017-02-14
CPC Classifications: G06Q

Claim:
1. A method for protecting financial transactions by detecting fraudulent activity, the method comprising: receiving, by a payment service system and from a merchant point-of-sale (POS) device, an indication that a financial transaction has been initiated between a merchant and a customer on the merchant POS device using a payment application that facilitates completion of financial transactions between the merchant and customers, the indication including transaction information associated with the financial transaction, the financial transaction initiated on the merchant POS device of the merchant by a use of a payment card by the customer at the merchant POS device; receiving, by the payment service system, a set of signals wirelessly broadcast by a personal computing device associated with the customer and detected by the merchant POS device, a mobile device of a cardholder of the payment card, or both; determining, by the payment service system, a presence indication as a function of a set of parameters associated with the set of signals by determining, by the payment service system, whether the presence indication satisfies a specified threshold; if the presence indication does satisfy the specified threshold, if the presence indication does not satisfy the specified threshold,