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Blocking credit/debit card transactions based on analytics from biometrics bracelet

IP.com Disclosure Number: IPCOM000243570D
Publication Date: 2015-Oct-01
Document File: 2 page(s) / 46K

Publishing Venue

The IP.com Prior Art Database

Abstract

This invention provides a method to block transactions when the legitimate user is not the person likely to be using it. It leverages biometrics gathered by wearables and client-server communication to ensure the authenticity of the activity detected for the payment method.

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Blocking credit/debit card transactions based on analytics from biometrics bracelet

Sometimes we are charged for using a payment method, (we will be using a credit

card as an example for the remainder of this disclosure) for a purchase we didn't do: our credit card data has been stolen. In some of these cases, the purchase was made at a time when we were sleeping, and the only 2 options are that we gave that credit card to someone for a one time purchase, or that the data has been stolen and is being used illegally.

    Our invention solves this problem by blocking transactions on the card while the owner is asleep.

    Our invention links the biometric info from an activity tracker (for example a sports bracelet) to the phone, which in turn is linked via an app (a bank application for example) to the bank record of the credit card/bank account. When a transaction is made on a credit card, the bank can check the activity tracker's biometric data to determine if the owner is asleep and therefore whether to allow or block the transaction.

    The credit card owner wears an activity tracker that tracks sleep and exercise and is paired to a phone that is linked to the bank (for example through a bank application).

    Every time there is a transaction on the credit card, the bank will fetch the data from the activity tracker through the phone. This data will tell the bank if the user is asleep (or exercising) or not.

    If the user is asleep, the transaction will be blocked and an ale...