GPS database to manage risk for financial transactions

Details GPS database to manage risk for financial transactions GPS database to manage risk for financial transactions

2003-12-23

2010-06-29

Colbert, Ella (Department: 3694)

Registers

Systems controlled by data bearing records

Credit or identification card systems

C235S379000, C707S793000, C707S793000, C455S406000

Reexamination Certificate

active

07743981

ABSTRACT:
The present teachings describe a system for processing financial transactions. In one embodiment, the system includes a remote terminal adapted to identify the location of financial transactions via global positioning system (GPS) information such that the remote terminal acquires transaction information from a user and transmits a first signal indicative of transaction information and GPS information. In addition, the system includes an authorizing host adapted to receive the first signal transmitted by the remote terminal such that the authorizing host evaluates the risk associated with financial transactions based, at least in part, on the GPS information so as to determine whether to accept or decline the financial transaction. The present teachings further describe devices and methods of acquiring GPS information for the purpose of managing risk for financial transactions.

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