Patent ID: 8630952
Filing Date: 2014-01-14
Classification: G06Q

Abstract:
1. A computer-implemented method for preventing processing of unauthorized transactions using an RFID mechanism, the method comprising: receiving, by a computer of a financial institution, a first request from a customer to activate a credit account of the customer for use with the RFID mechanism, wherein the RFID mechanism is always in a state of transmitting data, and wherein the first request is submitted via a website of the financial institution, a text message to the financial institution, a mobile banking application of the financial institution, or a phone call to the financial institution; after receiving the first request, activating, by a computer of the financial institution, the credit account of the customer allowing processing of at least one transaction subsequent to the first request that is made by the customer using the RFID mechanism; after activating the credit card account of the customer, receiving, by a computer of the financial institution, a request from a merchant to authorize the at least one transaction that is made by the customer using the RFID mechanism by linking the use of the RFID mechanism to the credit account of the customer for at least one transaction subsequent to the first request; transmitting, by a computer of the financial institution, an authorization for the at least one transaction to the merchant; completing the at least one authorized transaction; after completing the at least one authorized transaction, receiving, by a computer of the financial institution, a second request from the customer to deactivate the credit account of the customer from use of the RFID mechanism for any subsequent transactions made using the RFID mechanism after the second request, wherein the second request is submitted via the website of the financial institution, a text message to the financial institution, the mobile banking application of the financial institution, or a phone call to the financial institution; and after receiving the second request, deactivating, by a computer of the financial institution, the credit account of the customer by unlinking the use of the RFID mechanism to the credit account of the customer for any subsequent transactions made using the RFID mechanism after the second request, wherein the credit account of the customer remains available for use by the customer using any payment mechanism other than the RFID mechanism after deactivating the credit account of the customer.