Method and System for Controlling Risk in a Payment Transaction

Abstract

Example embodiments of the presently described subject matter are described that require a customer to use a secure payment token if, during a payment transaction, it is determined that the payment transaction poses a risk. A risk analysis may be performed based at least in part on data related to the payment transaction, such as data related to the customer, the transaction itself, the merchant, etc. If the results of the risk analysis indicate that an unacceptable amount of risk exists, the merchant or any interested party may require the customer to use a secure payment token, for example, a smart card, to conduct the transaction. Otherwise, the customer may proceed by using a static payment token, for example a credit card or PIN/password-based payment token.

1 . A method for controlling risk in a payment transaction between a customer and a merchant using a secure payment token comprising:
 receiving transaction data related to said payment transaction;   performing, by a risk analyzer comprising a non-transitory computer readable medium including executable instructions thereon, a risk analysis, said risk analysis based at least in part on said transaction data; and   requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.   
     
     
         2 . The method of  claim 1 , wherein said payment transaction is an E-commerce transaction. 
     
     
         3 . The method of  claim 1 , wherein said requiring said payment transaction to be conducted using said secure payment token includes requiring said merchant to conduct said payment transaction using said secure payment token. 
     
     
         4 . The method of  claim 1 , wherein said requiring said payment transaction to be conducted using said secure payment token includes requiring said customer to conduct said payment transaction using said secure payment token. 
     
     
         5 . The method of  claim 1 , wherein said risk analysis is based at least in part on data related to said customer. 
     
     
         6 . The method of  claim 1 , wherein said risk analysis is based at least in part on data related to said merchant. 
     
     
         7 . The method of  claim 1 , wherein said risk analysis is based at least in part on data related to said payment transaction. 
     
     
         8 . The method of  claim 1 , further comprising:
 receiving attempt transaction data, said attempt transaction data generated from a prior attempt to conduct said payment transaction with a static data payment token,   wherein said risk analysis is based at least in part on said attempt transaction data.   
     
     
         9 . A method for controlling risk in a payment transaction between a customer and a merchant using a secure payment token comprising:
 receiving the results of performing a risk analysis, said risk analysis based at least in part on said transaction data, said transaction data related to said payment transaction; and   requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.   
     
     
         10 . A non-transitory computer readable medium including executable instructions thereon for controlling risk in a payment transaction between a customer and a merchant using a secure payment token, the instructions comprising the steps of:
 receiving transaction data related to said payment transaction;   performing a risk analysis based at least in part on said transaction data; and   requiring said payment transaction to be conducted using said secure payment token based at least in part on the result of said risk analysis.   
     
     
         11 . The computer readable medium of  claim 10 , wherein said payment transaction is an E-commerce transaction. 
     
     
         12 . The computer readable medium of  claim 10 , wherein said requiring said payment transaction to be conducted using said secure payment token includes requiring said merchant to conduct said payment transaction using said secure payment token. 
     
     
         13 . The computer readable medium of  claim 10 , wherein said requiring said payment transaction to be conducted using said secure payment token includes requiring said customer to conduct said payment transaction using said secure payment token. 
     
     
         14 . The computer readable medium of  claim 10 , wherein said risk analysis is based at least in part on data related to said customer. 
     
     
         15 . The computer readable medium of  claim 10 , wherein said risk analysis is based at least in part on data related to said merchant. 
     
     
         16 . The computer readable medium of  claim 10 , wherein the risk analysis is based at least in part on data related to said payment transaction. 
     
     
         17 . The computer readable medium of  claim 10 , said controlling risk further comprising the steps of:
 receiving attempt transaction data, said attempt transaction data generated from a prior attempt to conduct said payment transaction with a static data payment token,   wherein said risk analysis is based at least in part on said attempt transaction data.