Payment vehicle with on and off function

1 . A payment vehicle comprising an on and off function to enable or to disable the payment vehicle in a computer-based network for processing an electronic payment transaction.

2 . The payment vehicle according to claim 1 , wherein the payment vehicle is enabled or disabled prior to the electronic payment transaction.

3 . The payment vehicle according to claim 1 , wherein the payment vehicle is enabled or disabled pursuant to an instruction from a holder of the payment vehicle.

4 . The payment vehicle according to claim 3 , wherein the instruction is sent as a short message service (sms), a phone recording, or an email.

5 . The payment vehicle according to claim 1 , wherein the payment vehicle is selected from the group consisting of a debit card, credit card, pre-paid card, stored value card, automated teller machine (ATM), wire, automated clearinghouse (ACH), online banking, online bill pay, and internet payment account.

6 . A computer-based network system comprising:

a payment vehicle having an on and off function,

a holder of the payment vehicle, and

a computer-based payment network wherein the computer-based payment network comprises a transaction engine for enabling or for disabling the payment vehicle at a request of the holder of the payment vehicle.

7 . The computer-based network system according to claim 6 , wherein the computer-based payment network system further comprises a funding source.

8 . The computer-based network system according to claim 6 , wherein the computer-based payment network system further comprises an issuer of the payment vehicle.

9 . A method of using a payment vehicle in a computer-based payment network, the method comprising:

receiving a message from a payment vehicle holder to enable a payment vehicle of the payment vehicle holder, and

enabling the payment vehicle by removing a block placed on the payment vehicle by a transaction engine in the computer-based payment network.

10 . The method of using a payment vehicle according to claim 9 , the method further comprising issuing a payment vehicle having an on and off function to enable or to disable the payment vehicle.

11 . The method of using a payment vehicle according to claim 9 , the method further comprising confirming removal of block placed on the payment vehicle by electronically sending a notice to the payment vehicle holder.

12 . The method of using a payment vehicle according to claim 11 , wherein the notice is sent electronically to the payment vehicle holder over the internet.

13 . The method of using a payment vehicle according to claim 11 , wherein the transaction engine disables the payment vehicle.

14 . The method of using a payment vehicle according to claim 13 , wherein the transaction engine resides in a computer-based network of the issuer of the payment vehicle.

15 . A method of using a payment vehicle in a computer-based payment network, the method comprising:

receiving a message from a payment vehicle holder to disable a payment vehicle of the payment vehicle holder, and

disabling the payment vehicle by placing a block on the payment vehicle by a transaction engine in the computer-based payment network.

16 . The method of using a payment vehicle according to claim 15 , wherein the method further comprises issuing a payment vehicle having an on and off function to enable or to disable the payment vehicle.

17 . The method of using a payment vehicle according to claim 15 , wherein the method further comprises confirming block placed on the payment vehicle by electronically sending a notice to the payment vehicle holder.

18 . The method of using a payment vehicle according to claim 17 , wherein the notice is sent electronically to the payment vehicle holder over the internet.

19 . The method of using a payment vehicle according to claim 15 , wherein the transaction engine enables the payment vehicle.

20 . The method of using a payment vehicle according to claim 19 , wherein the transaction engine resides in a computer-based payment network of the issuer of the payment vehicle.

21 . A method of using a payment vehicle, the method comprising:

receiving a request from a user to use a payment vehicle of a payment vehicle holder for an electronic payment transaction in a computer-based payment network,

checking by the computer-based payment network to see if a block has been placed or removed by the payment vehicle holder on the payment vehicle, and

terminating the electronic payment transaction in the computer-based payment network if the block has been placed on the payment vehicle.

22 . The method of using a payment vehicle according to claim 21 , wherein the payment vehicle is selected from the group consisting of a debit card, credit card, pre-paid card, stored value card, automated teller machine (ATM), wire, automated clearinghouse (ACH), online banking, online bill pay, and internet payment account.

23 . The method of using a payment vehicle according to claim 22 , wherein the payment vehicle is a credit card or a debit card.

24 . The method of using a payment vehicle according to claim 22 , wherein the payment vehicle is an online bill pay or online banking account.

25 . The method of using a payment vehicle according to claim 21 , wherein the payment vehicle holder set rules as to when to enable or disable the payment vehicle.

26 . The method of using a payment vehicle according to claim 25 , wherein the rules are set by time period.

27 . The method of using a payment vehicle according to claim 25 , wherein the rules are set by merchant category code.

28 . The method of using a payment vehicle according to claim 25 , wherein the rules are set by country code.