Claims
- 1. A system for authorizing financial transactions, the system comprising:
a microprocessor based device coupled to a modem accessible via one or more network devices, wherein the microprocessor based device is associated with a first computer readable medium, and wherein the first computer readable medium includes instructions executable by the microprocessor based device to receive a request to perform a financial transaction in relation to an entity; a second computer readable medium, wherein the second computer readable medium includes a history of transactions associated with the entity; and wherein the first computer readable medium further includes instructions executable by the microprocessor based device to access the history of transactions, and based at least in part on the history of transactions to determine a velocity limit associated with the entity and to authorize the request based at least in part on the velocity limit.
- 2. The system of claim 1, wherein the microprocessor based device is a network server.
- 3. The system of claim 1, wherein the microprocessor based device is a network server.
- 4. The system of claim 3, wherein the request to perform a financial transaction is received from a retailer.
- 5. A method for authorizing financial transactions, the method comprising:
receiving a request to perform a financial transaction in relation to an entity; determining a velocity limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a previous financial transaction incurred in relation to the entity over at least a five day period.
- 6. The method of claim 1, wherein the entity is selected from a group consisting of:
a presentation instrument, an automobile, an account, a mobile electronic device, and a person.
- 7. The method of claim 1, wherein the velocity limit is a first velocity limit, the. method further comprising:
determining that the entity is associated with an account group, wherein the account group includes a second velocity limit; and wherein authorizing the financial transaction is further based at least in part on the second velocity limit.
- 8. The method of claim 1, wherein the velocity limit is selected from a group consisting of: an amount per month, an amount per week, a percentage of credit limit per month, and a percentage of credit limit per month.
- 9. The method of claim 1, wherein the entity is a combination of at least two of the following:
a presentation instrument, an automobile, an account, and a person.
- 10. The method of claim 1, wherein the entity is a person, and wherein the velocity limit is different for the person utilizing a first presentation instrument than for the person utilizing a second presentation instrument.
- 11. The method of claim 1, wherein the entity is a presentation instrument, and. wherein the velocity limit is different for the presentation instrument when used by a first person than for the presentation instrument when used by a second person.
- 12. The method of claim 1, the method further comprising:
determining a geographic limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a geographic location associated with the request.
- 13. The method of claim 1, the method further comprising:.
determining a merchant limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a merchant associated with the request.
- 14. A method for authorizing financial transactions, the method comprising:.
receiving a request to perform a financial transaction in relation to an entity; determining a geographic limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a geographic location of the request.
- 15. The method of claim 10, wherein the entity is a person, and wherein the. geographic limit is different for the person utilizing a first presentation instrument than for the person utilizing a second presentation instrument.
- 16. The method of claim 10, wherein the entity is a presentation instrument, and. wherein the geographic limit is different for the presentation instrument when used by a first person than for the presentation instrument when used by a second person.
- 17. The method of claim 10, the method further comprising:.
determining a velocity limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a previous financial transaction incurred in relation to the entity.
- 18. The method of claim 10, the method further comprising:.
determining a merchant limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a merchant associated with the request.
- 19. A method for authorizing financial transactions, the method comprising:.
receiving a request to perform a financial transaction in relation to an entity; determining a merchant limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a merchant associated with the request.
- 20. The method of claim 15, wherein the entity is selected from a group . consisting of: a person, an account, a presentation instrument, and an automobile.
- 21. The method of claim 15, the method further comprising:.
determining a velocity limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a previous financial transaction incurred in relation to the entity.
- 22. The method of claim 15, the method further comprising:.
determining a geographic limit associated with the entity; and authorizing the financial transaction, wherein authorizing the financial transaction is based at least in part on a geographic location of the request.
- 23. The method of claim 15, wherein the entity is a person, and wherein the. merchant limit is different for the person utilizing a first presentation instrument than for the person utilizing a second presentation instrument
- 24. The method of claim 15, wherein the entity is a presentation instrument, and. wherein the merchant limit is different for the presentation instrument when used by a first person than for the presentation instrument when used by a second person.
- 25. A method for defining an authorization process, the method comprising:.
providing a user interface, wherein the user interface queries for an entity, and a limit in relation to the entity; and receiving the limit.
- 26. The method of claim 21, wherein the user interface is a webpage interface.
- 27. The method of claim 21, wherein the entity is a combination of two or more. entities.
- 28. The method of claim 21, wherein the limit is selected from a group. consisting of: a velocity limit, a geographic limit, and a merchant limit.
- 29. The method of claim 21, wherein the limit is a first limit, the method further. comprising:
receiving a second limit in association with the entity.
CROSS-REFERENCES TO RELATED APPLICATIONS
[0001] The present application is a continuation-in-part of multiple U.S. patent applications commonly assigned to First Data Corporation including:
[0002] (1) U.S. patent application Ser. No. 10/319,422 (Attorney Docket No. 020375-022050) entitled “Authorizing Transactions Associated With Accounts”, and filed on Dec. 12, 2002, which is a continuation of U.S. patent application Ser. No. 09/298,417, entitled “Method for Processing a Group of Accounts Corresponding to Different Products”, and filed on Apr. 23, 1999.
[0003] (2) U.S. patent application Ser. No. ______ (Attorney Docket No. 020375-022040) entitled “Chasing Rewards Associated With Accounts”, and filed Feb. 21, 2003.
[0004] (2) U.S. patent application Ser. No. 09/298505 entitled “Method for Linking Accounts Corresponding to Different Products Together to Create a Group”, and filed on Apr. 23, 1999.
[0005] (3) U.S. patent application Ser. No. 09/298521 entitled “Method for Defining a Relationship Between an Account and a Group”, and filed on Apr. 23, 1999.
[0006] (4) U.S. patent application Ser. No. 10/172378 entitled “System and Methods for Accessing and Modifying Usage Parameters Associated with a Financial Transaction Account”, and filed on Jun. 13, 2002, which is a continuation-in-part of the following U.S. patent application Ser. Nos.: 09/298,417 filed Apr. 23, 1999, entitled “Methods for Processing a group of Accounts Corresponding to Different Products”; 09/298,505 filed Apr. 23, 1999, entitled “Method for Linking Accounts Corresponding to Different Products Together to Create a Group”; and 09/298,521 filed Apr. 23, 1999, entitled “Method for Defining a Relationship Between an Account an a Group”.
[0007] (5) U.S. patent application Ser. No. 10/237,572 entitled “Multiple Credit Line Presentation Instrument”, and filed on Sep. 9, 2002.
[0008] All of the aforementioned patent applications are assigned to the assignee of the present invention, and the entirety of each of the aforementioned applications is incorporated herein by reference for all purposes.
Continuations (1)
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Continuation in Parts (5)
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