Patent ID: 9111278
Filing Date: 2015-08-18
Classification: G06Q

Abstract:
1. An automated computer implemented method for determining authorization for a transaction based on a merchant profile, wherein the method is executed by a decision engine comprising one or more computer processors which communicates with a user via a communication network, the method comprising the steps of: receiving an authorization request for a transaction from a customer at a merchant location, via a communication network; accessing a customer profile associated with the customer, from a computer database containing customer profile data and merchant profile data wherein a customer profile is associated with a particular customer and wherein a merchant profile is associated with a particular merchant, wherein the merchant profile comprises a merchant behavior profile, a merchant type, and a geographic location of the merchant; accessing, from the computer database, a merchant profile associated with a merchant involved in the transaction; executing, with the decision engine, one or more rules to the authorization request wherein the one or more rules generate merchant segmentation data to identify potentially fraudulent activity; executing, with the decision engine, one or more scoring algorithms to the authorization request wherein the one or more scoring algorithms indicate an assessment of risk; performing, with the decision engine, a velocity check to the transaction wherein the velocity check refers to a frequency of spend over a period of time for similar transactions for the merchant; performing, with the decision engine, a distance check to the transaction wherein the distance check refers to a distance between a current transaction and a previous transaction; in response to the customer profile data, the merchant profile, the merchant segmentation data, the assessment of risk, the frequency of spend and the distance check, automatically determining, with the decision engine, an authorization response; and transmitting the authorization response for the transaction via the communication network.