Patent ID: 7752135

Claim:
A computer implemented method for authorizing transactions against an account for a transaction occurring over an Internet, the computer implemented method comprising: associating an account holder with a set of communication devices; storing, in a database by a central computer, a set of identification numbers corresponding to the set of communication devices for the account holder, wherein each communication device from the stored set of communication devices is adapted to determine and transmit a physical location of the each communication device; determining, by at least one communication device of the set of communication devices, a physical location of the at least one communication device, wherein the physical location is based on a location of the account holder; transmitting the physical location of the at least one communication device to the central computer; receiving, by the central computer, a transaction request, wherein the transaction occurs on the Internet, and wherein the transaction request comprises an account number associated with the account holder and a merchant associated with the transaction; responsive to receiving the transaction request, obtaining, by the central computer, a location of the merchant; receiving, from the account holder, a unique character string associated with the account holder, wherein the unique character string is changeable at random by the account holder; responsive to receiving the unique character string from the account holder, changing, by the central computer, the merchant location to the location of the account holder to form a changed merchant location; comparing, by the central computer, the location of the at least one communication device with the changed merchant location to form an outcome; and based on the outcome, authorizing the transaction request.