Methods for risk management in payment device system

Abstract

Methods and systems are described for setting a risk management limit to be applied to authorized purchase transactions for a payment card account. In an embodiment, a payment card issuer sets a risk management limit to be applied to authorized purchase transactions for a payment card account, receives an authorization request for a first purchase transaction, determines that the payment card account is within a threshold amount of the risk management limit, and transmits a warning message to a mobile telephone of the account holder that the risk management limit is imminent. Next, the payment card issuer computer receives a second authorization request for a second purchase transaction, determines that the payment card account now exceeds the risk management limit and that no contact has been received from the account holder, and then suspends the payment card account pending contact from the account holder.

What is claimed is: 
     
         1 . A risk management method for a payment device system comprising:
 setting, in a payment card issuer computer, a risk management limit to be applied to authorized purchase transactions for a payment card account;   receiving, by the payment card issuer computer, an authorization request for a first purchase transaction having a first monetary amount, the authorization request associated with the payment card account;   determining, by the payment card issuer computer using the first monetary amount, that the payment card account is within a threshold amount of the risk management limit;   transmitting, by the payment card issuer computer to a mobile telephone of an account holder of the payment card account, a warning message notifying the account holder that the risk management limit is imminent;   receiving, by the payment card issuer computer, a second authorization request for a second purchase transaction having a second monetary amount, the second authorization request associated with the payment card account;   determining, by the payment card issuer computer using the second monetary amount, that the payment card account exceeds the risk management limit and that no contact has been received from the account holder; and   suspending, by the payment card issuer computer, the payment card account pending contact from the account holder.   
     
     
         2 . The method of  claim 1 , further comprising, prior to suspending the payment card account:
 detecting, by the payment card issuer computer, that the account holder has requested re-setting of the risk management limit; and   re-setting, by the payment card issuer computer, the risk management limit.   
     
     
         3 . The method of  claim 2 , wherein the account holder requested re-setting of the risk management limit by accessing an on-line banking account. 
     
     
         4 . The method of  claim 3 , wherein the holder accessing the on-line banking account does not include transferring funds to the payment card account. 
     
     
         5 . The method of  claim 3 , wherein the on-line banking account is a mobile banking account. 
     
     
         6 . The method of  claim 3 , wherein the on-line banking account is a website user account. 
     
     
         7 . The method of  claim 1 , wherein the warning message is a text message. 
     
     
         8 . The method of  claim 1 , wherein the risk management limit is expressed as a monetary amount. 
     
     
         9 . The method of  claim 1 , wherein the risk management limit is expressed as a number of transactions. 
     
     
         10 . The method of  claim 1 , wherein the account holder requested re-setting of said risk management limit by transmitting a response to the warning message. 
     
     
         11 . The method of  claim 10 , wherein the account holder sent the response by actuating an option displayed on the mobile telephone. 
     
     
         12 . A payment device system comprising:
 a user mobile telephone;   a mobile network;   a data network; and   a payment card issuer computer operably connected to the data network and to the mobile network, the payment card issuer computer comprising a payment card issuer processor operably connected to a storage device, and wherein the storage device comprises instructions configured to cause the payment card issuer processor to:
 set a risk management limit to be applied to authorized purchase transactions for a payment card account; 
 receive an authorization request for a first purchase transaction having a first monetary amount, the authorization request associated with the payment card account; 
 determine, using the first monetary amount, that the payment card account is within a threshold amount of the risk management limit; 
 transmit a warning message to a mobile telephone of an account holder of the payment card account, the warning message notifying the account holder that the risk management limit is imminent; 
 receive a second authorization request for a second purchase transaction having a second monetary amount, the second authorization request associated with the payment card account; 
 determine, using the second monetary amount, that the payment card account exceeds the risk management limit and that no contact has been received from the account holder; and 
 suspend the payment card account pending contact from the account holder. 
   
     
     
         13 . The system of  claim 12 , wherein the storage device comprises further instructions, prior to the instructions for suspending the payment card account, configured to cause the payment card issuer processor to:
 detect that the account holder has requested re-setting of the risk management limit; and   re-set the risk management limit.   
     
     
         14 . The payment device system of  claim 12 , further comprising an on-line banking host computer hosting an on-line bank account of the holder, the on-line banking host computer operably connected to the data network and configured to communicate with the payment card issuer computer; and
 wherein the storage device of the payment card issuer computer comprises further instructions configured to cause the payment card issuer processor to:
 receive a message from the on-line banking host computer indicating that the holder requested re-setting of the risk management limit by accessing the on-line banking account; and 
 reset the risk management limit. 
   
     
     
         15 . The payment device system of  claim 14 , wherein the instructions for receiving the message from the on-line banking host computer further comprises instructions configured to indicate that the holder accessed the on-line banking account without transferring funds to the payment card account. 
     
     
         16 . The payment device system of  claim 14 , wherein the on-line banking account hosted by the on-line banking host computer is one of a mobile banking account and a website user account. 
     
     
         17 . The payment device system of  claim 12 , wherein the set a risk management limit set by the payment card issuer computer is expressed as at least one of a monetary amount and a number of transactions. 
     
     
         18 . The payment device system of  claim 12 , wherein the storage device of the payment card issuer computer comprises further instructions, subsequent to the instructions for transmitting the warning message to the mobile telephone of the account holder, configured to cause the payment card issuer processor to:
 receive a response to the warning message from the mobile device; and reset the risk management limit.