Patent ID: 8660955
Filing Date: 2014-02-25
Classification: G06Q

Abstract:
1. A method of using an active account to conduct a transaction between a merchant and an account holder, the account being associated with account information, the account information including at least one criterion for pre-authorizing a transaction, the at least one criterion being provided by the account holder, the method comprising the steps of: one or more servers receiving a transaction approval request from a merchant terminal, the transaction approval request including information relating to the commercial transaction; the one or more server performing a comparison of the submitted information relating to the commercial transaction to the account information, the result of the comparison including a determination of whether the at least one criterion for pre-authorizing the transaction is satisfied; and, when a determination is made that the at least one criterion for pre-authorizing the transaction is not satisfied, the one or more server sending a communication to the merchant terminal refusing the transaction associated with the at least one non-satisfied pre-authorization criterion, wherein, after refusal, the account remains active to an additional transaction approval request, wherein, in the case of refusal, the one or more server preventing (i) further communication from the one or more server to the account holder for verification of the denied transaction approval request and (ii) the further storage of the denied transaction approval request on the one or more server; and when a determination is made that the at least one criterion for pre-authorizing the transaction is satisfied, the one or more server approving the transaction approval request without verification by the account holder.