Patent ID: 7600676

Claim:
A method for pre-approving a financial transaction, wherein an issuer computer performs steps comprising: a) receiving a request for pre-approval of a financial transaction from a purchaser, prior to initiation of the financial transaction, wherein the request includes card information and at least one restriction; b) determining whether the card information is authentic and sufficient funds are available; c) upon determining that the card information is authentic and sufficient funds are available, transmitting a first verification indicia to a target address associated with the purchaser; d) subsequently, receiving financial transaction information and a second verification indicia from a merchant involved in the financial transaction; e) determining whether the second verification indicia is authentic based upon whether at least a portion of the second verification indicia matches at least a portion of the first verification indicia; f) determining whether the at least one restriction is satisfied by the received financial transaction information; and g) transmitting approval of the financial transaction to the merchant in response to successful authentication of the second verification indicia and the satisfaction of the at least one restriction.