Transaction security apparatus and method

Details Transaction security apparatus and method Transaction security apparatus and method

1997-06-12

1999-05-11

Chin, Wellington

Telecommunications

Radiotelephone system

Usage measurement

455408, 455405, 455410, 455 313, H04Q7/08;7/10;7/32

Patent

active

059038306

ABSTRACT:
A transaction security apparatus which comprises a receiver for receiving one of a limitation and a restriction on an account usage, wherein the one of a limitation and a restriction on an account usage are received in real-time from an individual account holder, a memory for storing the one of a limitation and a restriction on an account usage, and a central processing device for processing an authorization request for a transaction on an account in conjunction with the one of a limitation and a restriction on an account usage. The central processing device generates a first signal, wherein the first signal contains information for one of authorizing and disallowing the transaction. A method for transaction security which comprises receiving one of a limitation and a restriction on an account usage, wherein the one of a limitation and a restriction on an account usage are received in real-time from an individual account holder, storing the one of a limitation and a restriction on an account usage, processing an authorization request for a transaction on an account in conjunction with the one of a limitation and a restriction on an account usage, and determining whether the transaction is one of authorized and unauthorized.

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