Patent ID: 7761381
Filing Date: 2010-07-20
Classification: G06Q

Abstract:
1. A method for approving a plurality of financial transactions, comprising: receiving, using a processor on a computer, a plurality of consumer-defined policies defined by a consumer for a financial account, wherein each the plurality of consumer-defined policies comprises a pair of rule sets, each rule set comprising a parameter specifying a merchant a limit specifying a maximum amount and an identifier of the financial account, and wherein each of the plurality of consumer-defined policies is used to notify the consumer of the existence of one of the plurality of financial transactions prior to completion of the one of the plurality of financial transactions; receiving, using the processor, first transaction information related to a first transaction of the plurality of financial transactions, wherein the first transaction information violates a first rule set of the pair of rule sets; after receiving the one of the plurality of consumer-defined policies, wherein the first rule set of the pair of rule sets is active and a second rule set of the pair of rule sets is inactive, using the processor for: approving the second financial transaction based on the second approval response.