Systems and methods for risk triggering values
View Patent ↗Systems and methods for facilitating risk assessment for point of sale transactions utilizing at least one risk triggering value (RTV) is disclosed. An RTV is a condensed version of a set of complex risk data and strategies usually found in central processing sites. After receiving a request for payment authorization, a risk value is calculated for the request. The distributed processing site compares the risk value to the RTV to determine whether to authorize payment. If the risk value is less than or equal to the RTV, the payment is authorized while a risk value greater than the RTV will not be authorized. The central site calculates a new RTV for the account and distributes the new RTV to the distributed processing site.
1. A method comprising:
receiving, by a computer-based system for processing a transaction request, a transaction request that includes a payment amount that exceeds a positive limit associated with a particular merchant;
calculating, by the computer-based system and in response to the payment amount exceeding the positive limit, a risk value comprising the payment amount multiplied by a risk multiplier;
providing, by the computer-based system, a payment authorization in response to a comparison of the risk value to a risk triggering value (“RTV”); and
transmitting, by said computer-based system and in response to said providing, current transaction data associated with said transaction request, wherein an updated RTV is calculated based upon said RTV and said current transaction data.
2. The method of claim 1 , wherein said computer-based system is at least one of: a merchant Point of Sale (POS) device, a distributed processing site, a central processing site and a central authorization system.
3. The method of claim 1 , wherein said RTV is calculated by at least one of: a merchant Point of Sale (POS) device, a distributed processing site, a central processing site and a central authorization system.
4. The method of claim 1 , wherein said payment authorization is performed by at least one of: a merchant Point of Sale (POS) device, a distributed processing site, a central processing site and a central authorization system.
5. The method of claim 1 , wherein said computer-based system is a local distributed processing site, and wherein said local distributed processing site receives said RTV from a regional distributed processing site.
6. The method of claim 1 , wherein said computer-based system is a merchant located distributed processing site, and further comprising receiving said RTV at said merchant distributed processing site.
7. The method of claim 1 , further comprising synchronizing said updated RTV by an available at least one of a merchant Point of Sale (POS) device, a distributed processing site, a central processing site and a central authorization system.
8. The method of claim 1 , further comprising forwarding, by said computer-based system, said transaction request to a central processing site.
9. The method of claim 1 , further comprising forwarding, by said computer-based system, said transaction request in response to a load on said computer-based system.
10. The method of claim 1 , wherein said RTV comprises a sum of trigger points.
11. The method of claim 1 , wherein said RTV comprises a sum of trigger points including at least one of a long standing customer trigger point, an above average income trigger point, and a debt to income ratio trigger point.
12. The method of claim 1 , wherein said risk value for said transaction request is calculated based in part upon at least one of: transaction profitability, customer profitability, account profitability, an outcome, a transaction variable and an environmental variable.
13. The method of claim 1 , further comprising transmitting, by said computer-based system, a payment authorization in response to said risk value being at least one of: less than and equal to said RTV.
14. The method of claim 1 , further comprising forwarding, by said computer-based system, a risk strategy outcome to a central authorization system.
15. The method of claim 1 , wherein said providing said payment authorization is based upon at least one of, negative limits, a transaction variable and an environmental variable.
16. The method of claim 1 , further comprising receiving said updated RTV and calculating a risk value for said transaction request.
17. The method of claim 1 , wherein said payment authorization is processed by a merchant Point of Sale (POS) device in response to at least one of a distributed processing site and a centralized processing site not being sufficiently available.
18. The method of claim 1 , further comprising adjusting, by said computer-based system, a fee for said transaction request based upon at least one of said RTV and said risk value.
19. The method of claim 1 , further comprising compiling, by said computer-based system, a set of risk data and strategies based on at least one of a transactional variable and an environmental variable, wherein said RTV was established by condensing a set of risk data and strategies, wherein said set of risk data and strategies are managed at a central processing site, and said condensed set of risk data and strategies comprise said RTV.
20. The method of claim 1 , wherein said updated RTV is received based on at least one of: a predetermined number of transactions, a predetermined interval, and a predetermined time.
21. An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a computer-based system for processing a transaction request, cause said computer-based system to perform operations comprising:
receiving, by a computer-based system for processing a transaction request, a transaction request that includes a payment amount that exceeds a positive limit associated with a particular merchant;
calculating, by the computer-based system and in response to the payment amount exceeding the positive limit, a risk value comprising the payment amount multiplied by a risk multiplier;
providing, by the computer-based system, a payment authorization in response to a comparison of the risk value to a risk triggering value (“RTV”); and
transmitting, by said computer-based system and in response to said providing, current transaction data associated with said transaction request, wherein an updated RTV is calculated based upon said RTV and said current transaction data.
22. A system comprising:
a processor for processing a transaction request,
a tangible, non-transitory memory configured to communicate with said processor, said tangible, non-transitory memory having instructions stored thereon that, in response to execution by said processor, cause said processor to perform operations comprising:
receiving, by the processor, a transaction request that includes a payment amount that exceeds a positive limit associated with a particular merchant;
calculating, by the processor and in response to the payment amount exceeding the positive limit, a risk value comprising the payment amount multiplied by a risk multiplier;
providing, by the processor, a payment authorization in response to a comparison of the risk value to a risk triggering value (“RTV”); and
transmitting, by said processor and in response to said providing, current transaction data associated with said transaction request, wherein an updated RTV is calculated based upon said RTV and said current transaction data.