PATENT CLAIM ANALYSIS

Application Number: 16023082
Application Type: Utility
Filing Date: 2018-06
Publication Date: 2020-01
Patent Classification: ["705", "044000"]

Abstract:
A system and method for mitigating transaction fraud by confirming a credit card is in proximity to a mobile device associated with the credit card includes a consumer attempting to make a purchase using a credit card. A credit card processing company then seeks to confirm the authenticity of the purchase by sending a request for authenticity to a mobile application running on a phone associated with the owner of the credit card. A software application running on the mobile device is programmed to transmit a RFID signal, which returned by the credit card so long as the credit card is within a predetermined distance thereof. In this manner, the application can confirm that the owner of the credit card was the person who made the purchase transaction. The application then communicates with the credit card processing company to either allow or deny the purchase transaction.

Claim (Index 11):
A method for mitigating transaction fraud by confirming a credit card that is separate and remote from a mobile computing device is in proximity to the mobile computing device associated with the credit card, the method for mitigating transaction fraud comprising:\n a consumer making a purchase request using a transaction device having an identification code associated with a bank account of the consumer; receiving a request for verification of an authenticity of a financial transaction associated with said transaction device; determining in real time a geographic location of a mobile computing device that is running a software application for verifying an authorized purchase; transmitting a signal from the mobile computing device requesting a global position of said transaction device, said transaction device having a GPS module operable for receiving said request for a geographic location of said transaction device; receiving a reply signal from the GPS module of said transaction device indicative of a geographic location of the transaction device; determining if said geographic location of said transaction device is less than a predetermined distance from said geographic position of the mobile computing device and, if so, recommend to said requester of verification of authenticity of the financial transaction that the financial transaction be allowed.

Metadata:
- Claim Count in Document: 40.0
- Percentile: 94.0
- Lexical Diversity: 2.09589
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: False
- Related Applications: ['12001843', '13479235', '11852488', '14735042', '12343036']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1070474076543096
- 35 USC 102 Novelty (BERT): 0.4707728451508478
- Combined Prediction Score: 0.1434199514039634
- Mean Citation Score: 183.204426
- Max Citation Score: 185.22859
- Similarity Product: 143.16573588298442

Labels:
- Claim Label 101: 1
- Claim Label 102: 1
- Claim Label 103: 1
- Claim Label 112: 1
- Combined Label: 1
- Label 101 Adjusted: 1

Dataset: test