Patent ID: 8639623

Claim:
A system for processing requests to authorize financial transactions, comprising: a receiver configured to receive authorization requests from merchants for financial transactions on payment cards; a database configured to store a plurality of cardholder rules, wherein each cardholder rule, from the plurality of cardholder rules, is associated with at least one payment card of a customer; a processor configured to identify a positive or negative authorization response based on the received authorization requests, the processor comprising: (i) a setup module configured to: select a template, from a plurality of pre-defined templates, wherein each template, from the plurality of templates, specifies at least one action and at least one notification that defines at least one template rule; receive information to populate a template to generate at least one cardholder rule, wherein the information includes at least one of a transaction amount, relational operators, and logical operators; select at least one cardholder rule associated with at least one payment card of a customer; and associate the at least one template rule of a selected template with a payment card of a customer; (ii) an authorization module configured to dynamically retrieve the at least one cardholder rule associated with a payment card of a customer of each received authorization request on a per-transaction basis, for applying the retrieved at least one cardholder rule to the corresponding authorization request, for executing the at least one cardholder rule with reference to the at least one template rule, and for implementing the action and the notification defining the at least one template rule; and a transmitter configured to transmit the identified positive or negative authorization response.