Patent ID: 6948656
Filing Date: 2005-09-27
Classification: G06Q

Abstract:
1. A system for processing financial transactions, the system comprising: at least one remote terminal assigned to a merchant, wherein the at least one remote terminal is configured to obtain information about the financial transaction and location information about the location of the at least one remote terminal at the time the financial transaction occurs, wherein the at least one remote terminal sends a signal indicative of the location information and the financial information for processing; and an authorizing host that receives the signal transmitted by the at least one remote terminal, wherein the authorizing host categorizes a plurality of approved locations for the at least one remote terminal, and wherein the authorizing host receives the signal from the at least one remote terminal and determines whether to approve or decline the financial transaction based, at least in part, on whether the location indicated by location information sent by the at least one remote terminal is within one of the plurality of approved locations for the at least one remote terminal, and if the at least one remote terminal is not within one of the plurality of approved locations, the authorizing host is configured to evaluate additional merchant parameters associated with the financial transaction that are different than the location information.