Patent ID: 7945494

Claim:
A merchant point of sale device configured for capturing and transmitting data to a central authorizing host indicative of a proffered payment received by the point of sale device, the device comprising: a financial data component that obtains, at a point of sale on behalf of the merchant, financial information about the proffered payment; a global positioning system (GPS) receiver that utilizes received GPS signals to determine the present location of the point of sale device when the financial information about the proffered payment is obtained; a transceiver component that is communicatively linked to the central authorizing host; and a processor component that receives the financial information and the location information and induces the transceiver component to transmit the financial information and the location information to the central authorizing host, wherein the central authorizing host compares the present location of the point of sale device to prestored information associated with a plurality of approved locations at which the merchant will accept payments utilizing the point of sale device and evaluates the risk of accepting the proffered payment by the point of sale device based at least in part upon the comparison.