Method and system for universal control account activities

Abstract

A method for application of account and transaction controls on a payment token includes: storing, in a first device of a system, a control profile including a token number and transaction controls; storing, in a second device of the system, a token profile including the token number and a corresponding account number; receiving, at the first device, a transaction message including a data element having the token number and additional transaction data; determining, by the first device, compliance with the transaction controls based on the additional transaction data; transmitting the transaction message from the first to the second device; replacing, by the second device, the token number with the account number in the transaction message; and transmitting, by the second device, the transaction message to a financial institution associated with the account number.

What is claimed is: 
     
         1 . A method for application of account and transaction controls on a payment token, comprising:
 storing, in a control database, a control profile, wherein the control profile includes a structured data set related to a transaction account including at least one or more account and/or transaction controls applicable to payment transactions funded with the transaction account and a payment token number generated for use with the transaction account;   storing, in a token database, a token profile, wherein the token profile includes a structured data set related to the transaction account including at least the payment token number and a corresponding transaction account number;   receiving a transaction message via a payment network, wherein the transaction message includes the payment token number, and transaction data;   determining compliance of the payment transaction with at least one of the one or more account and transaction controls included in the control profile including the payment token number;   replacing the payment token number included in the transaction message with the corresponding transaction account number stored in the token profile in the token database;   electronically transmitting the transaction message including the corresponding transaction account number to an issuing financial institution, wherein the issuing financial institution is associated with the corresponding transaction account number;   receiving an authorization response from the issuing financial institution, the authorization response including the corresponding transaction account number;   replacing, the corresponding transaction account number included in the authorization response with the payment token number included in the transaction message; and   electronically transmitting the authorization response for the payment transaction to a merchant computing system.   
     
     
         2 . The method of  claim 1 , wherein the control profile further includes at least one notification condition, and the method further comprises:
 identifying satisfaction of a notification condition stored in the control profile based on the determination of compliance of the payment transaction with at least one of the one or more account and transaction controls.   
     
     
         3 . The method of  claim 2 , further comprising:
 storing, in a notification database, a notification profile, wherein the notification profile includes a structured data set related to a transaction account including at least the payment token number and communication details; and   electronically transmitting a data signal superimposed with a transaction notification related to the identified notification condition to an external computing device based on the communication details.   
     
     
         4 . The method of  claim 3 , wherein the data signal further includes the payment token number and the transaction data included in the received transaction message. 
     
     
         5 . The method of  claim 1 , wherein the token profile further includes at least one notification condition, and the method further comprises:
 identifying satisfaction of a notification condition stored in the token profile based on the determination of compliance of the payment transaction with at least one of the one or more account and transaction controls.   
     
     
         6 . The method of  claim 5 , further comprising:
 storing, in a notification database, a notification profile, wherein the notification profile includes a structured data set related to a transaction account including at least the corresponding transaction account number and communication details; and   electronically transmitting a second data signal superimposed with a transaction notification related to the identified notification condition to the external computing device based on the communication details.   
     
     
         7 . The method of  claim 6 , wherein the data signal further includes the corresponding transaction account number and the transaction data included in the received transaction message. 
     
     
         8 . The method of  claim 1 , wherein at least one of the one or more account and transaction controls includes a control on at least one of: transaction amount, aggregate transaction amount, merchant name, merchant identifier, geographic location, transaction type, product name, product type, number of transactions, transaction frequency, transaction time, and transaction date. 
     
     
         9 . A system for application of account and transaction controls on a payment token, comprising:
 a control database configured to store a control profile, wherein the control profile includes a structured data set related to a transaction account including at least one of one or more account and transaction controls applicable to payment transactions funded with the transaction account, and a payment token number generated for use with the transaction account;   a token database configured to store a token profile, wherein the token profile includes a structured data set related to the transaction account including at least the payment token number and a corresponding transaction account number;   a receiving device configured to receive a transaction message via a payment network, wherein the transaction message the payment token number and transaction data;   a transaction processing module configured to determine compliance of the payment transaction with the one or more account and/or transaction controls included in the control profile including the payment token number;   a transaction processing module configured to replace the payment token number included in the transaction message with the corresponding transaction account number stored in the token profile in the token database;   a transmitting device configured to electronically transmit the transaction message including the corresponding transaction account number to an issuing financial institution, wherein the issuing financial institution is associated with the corresponding transaction account number;   the receiving device further configured to receive an authorization response from the issuing financial institution, the authorization response including the corresponding transaction account number;   the transaction processing mod configured to replace the corresponding transaction account number included in the authorization response with the payment token number included in the transaction message; and   the transmitting device further configured to transmit the authorization response for the payment transaction to a merchant computing system.   
     
     
         10 . The system of  claim 9 , wherein the control profile further includes at least one notification condition, and the system further comprises:
 a notification module configured to identifying satisfaction of a notification condition stored in the control profile based on the determination of compliance of the payment transaction with at least one of the one or more account and transaction controls.   
     
     
         11 . The system of  claim 10 , further comprising:
 a notification database configured to store a notification profile, wherein the notification profile includes a structured data set related to a transaction account including at least the payment token number and communication details; and   the transmitting device configured to electronically transmit a data signal superimposed with a transaction notification related to the identified notification condition to an external computing device based on the communication details.   
     
     
         12 . The system of  claim 11 , wherein the data signal further includes the payment token number and the transaction data included in the received transaction message. 
     
     
         13 . The system of  claim 9 , wherein the control profile further includes at least one notification condition, the system further comprising:
 a notification module configured to identify satisfaction of a notification condition stored in the token profile based on the determination of compliance of the payment transaction with at least one or more account and transaction controls.   
     
     
         14 . The system to  claim 13 , further comprising:
 the notification database configured to store a notification profile, wherein the notification profile includes a structured data set related to a transaction account including at least the corresponding transaction account number and communication details; and   the transmitting device configured to electronically transmit a second data signal superimposed with a transaction notification related to the identified notification condition to the external computing device based on the communication details.   
     
     
         15 . The system of  claim 14 , wherein the data signal further includes the corresponding transaction account number and the transaction data included in the received transaction message. 
     
     
         16 . The system of  claim 9 , wherein at least one of the one or more account and transaction controls includes a control on at least one of: transaction amount, aggregate transaction amount, merchant name, merchant identifier, geographic location, transaction type, product name, product type, number of transactions, transaction frequency, transaction time, and transaction date.