METHOD AND SYSTEM FOR CONTROLLING ACCESS TO A FINANCIAL ACCOUNT

1 . A computer implemented system for controlling access to a financial account, the system comprising:

one or more memories for storing information and at least one set of instructions;

and

one or more processors for:

(a) receiving financial account information from an access terminal, wherein the access terminal collects access data;

(b) identifying a destination account from the financial account information;

(c) sending an authorization request to a mobile device linked to the destination account, wherein the authorization request comprises a variable amount of the access data;

(d) receiving a response to the authorization request from the mobile device; and

(e) controlling access to the financial account at the access terminal based on the response.

2 . The system of claim 1 , wherein said controlling comprises:

(a) relaying the response to an access processing network and, the access processing network being operable to control access to the financial account at the access terminal.

3 . The system of claim 1 , wherein said sending is caused by an authorization request initialization message sent from the access terminal.

4 . The system of claim 1 , wherein said sending is caused by an authentication request initialization message sent from the access processing network.

5 . The system of claim 1 , wherein the financial account is used for payment in a sales transaction, and the access is a request for payment from the financial account.

6 . The system of claim 1 , wherein the access data comprises transactional data from the sales transaction, and the transactional data comprises itemized details of the sales transaction.

7 . The system of claim 6 , wherein the transactional data comprises historical transactional data from similar sales transactions.

8 . The system of claim 1 , wherein the financial account comprises one selected from a group consisting of: credit cards, debit cards, bank accounts, smart cards, charge cards, contactless payment, biometric payment, radio frequency identification (RFID) payments, Near Field Communication (NFC) payments, chip card payments and mobile payments.

9 . The system of claim 1 , wherein the authorization request comprises an option to place a lock on the financial account, and the response is operable to contain instructions to lock the financial account.

10 . The system of claim 1 , wherein the financial account is an account issued from a financial institution.

11 . The system of claim 1 , further comprising a financial account access module configured to perform said: identifying a destination account from the financial account information; sending an authorization request to a mobile device linked to the destination account; receiving a response to the authorization request from the mobile device; and controlling access to the financial account at the access terminal based on the response.

12 . The system of claim 1 , wherein the authorization request comprises the financial account information, and said identifying is performed by a financial account access module embedded within the mobile device receiving the authorization request.

13 . A computer implemented system for controlling access to a financial account, the system comprising:

one or more memories for storing information and at least one set of instructions,

and

one or more processors for:

(a) receiving, from a mobile device, an identifier for identifying a destination account, the destination account being associated with the financial account;

(b) receiving, from the mobile device, location information of the mobile device;

(c) identifying at least one access terminal from the location information;

(d) sending a message to the mobile device, the message comprising:

i) an incentive for executing a transaction at the at least one access terminal, and

ii) an authorization request;

(e) receiving an identifier for the financial account, the financial account being used in a transaction at the at least one access terminal;

(f) receiving a response to the authorization request; and

(g) controlling access to the financial account based on the response to the authorization request.

14 . The system of claim 13 , wherein the identifier for the financial account is transmitted from the access terminal.

15 . The system of claim 13 , wherein the access terminal is associated with at least one merchant.

16 . The system of claim 13 , wherein a redemption of the incentive in the transaction at the at least one access terminal triggers the response to the authorization request.

17 . The system of claim 13 , wherein the identifier for the financial account used in the transaction at the at least one merchant and the response to the authorization request are received in one message.

18 . The system of claim 13 , wherein said identifier comprises login information for the destination account.

19 . (canceled)

20 . A system for controlling access to a financial account, the system comprising:

(a) an account identification module comprising a processor and a memory containing instructions for:

i) receiving financial account information and access data from an access terminal, and

ii) identifying a destination account from the financial account information; and

(b) an authorization relay module comprising a processor and a memory containing instructions for:

i) sending an authorization request to a mobile device linked to the destination account, wherein the authorization request comprises a variable amount of the access data;

ii) receiving a response to the authorization request from the mobile device; and

iii) relaying the authorization to an access processing network, wherein the access processing network is operable to control access to the financial account at the access terminal based on the response.