Circuit-based transaction with secure-access processing
In certain specific examples, aspects are directed to methods and systems involving selection and processing circuitry involving multiple transaction-directed user accounts registered by a service provider (e.g., banking or other type of financial institution) and with the selection and processing circuitry configured to enable selection of one of the accounts, based on an optimization algorithm which accounts for the rewards offerings. The recommended and/or selected one of the reward-type transaction accounts may realize a maximum level of value, according to user-specific criteria, for a particular prospective purchase transaction, and the transaction may be being carried out via a secure protocol that is to mitigate or prevent unauthorized use of the VTC circuit and that is in compliance with a secure protocol associated with the selected one of the reward-type transaction accounts.
1 . A system comprising memory and one or more processors communicatively coupled to the memory, the one or more processors configured to:
receive transaction data for a prospective transaction associated with a unified electronic transaction device representing a plurality of reward-type transaction accounts for a user, wherein the unified electronic transaction device includes or is integrated with at least one of: a smart card, a personal computer, or a portable user device, and wherein the unified electronic transaction device includes distinct identification data and is enabled for conveying the distinct identification data to a POS equipment or terminal;
retrieve, from one or more databases and based on the transaction data, (i) rewards offerings data for each reward-type transaction account of the plurality of reward-type transaction accounts represented by the unified electronic transaction device and (ii) user data comprising (a) user-specific criteria for using each reward-type transaction account, (b) rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
input the rewards offerings data and the user data into an AI/ML model configured to predict an optimal reward-type transaction account for the prospective transaction from the plurality of reward-type transaction accounts at least in part by applying to the rewards offerings data for at least one reward-type transaction account of the plurality of reward-type transaction accounts (i) the user-specific criteria for the at least one reward-type transaction account and (ii) the rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
obtain from the AI/ML model the optimal reward-type transaction account for the prospective transaction;
validate authorization to proceed with the prospective transaction based on user-configurable data by using a first security procedure and a second security procedure different from the first security procedure and comprising multi-factor authentication, wherein the user-configurable data comprises a code maintained through the second security procedure, and wherein the second security procedure is controlled by an authorizer or issuer of the unified electronic transaction device, wherein the distinct identification data of the unified electronic transaction device is linked to the user data and used as part of the first security procedure or the second security procedure for the authorization;
responsive to validating authorization to proceed, generate data associated with the optimal reward-type transaction account and configured to cause processing of the prospective transaction;
transmit, over at least one communications network and to a computing entity, the data;
generate, for the AI/ML model and using a simulator, improvement suggestions related to use of the plurality of reward-type transaction accounts by simulating future transactions associated with the plurality of reward-type transaction accounts; and
provide the improvement suggestions to the AI/ML model.
2 . The system of claim 1 , wherein the AI/ML model comprises an optimization algorithm configured to predict the optimal reward-type transaction account as a function of a rewards-maximization goal, and wherein the user-specific criteria comprises:
user-selected rewards-priority criteria for selection of one or more of the plurality of reward-type transaction accounts, and
user-specific historical data indicative of one or more user-specific events corresponding to at least one of: a calendar linked or referring to the user, a reported travel of the user, and possible misuse of at least one of the plurality of reward-type transaction accounts.
3 . The system of claim 1 , wherein the AI/ML model is configured to predict the optimal reward-type transaction account to meet a user goal indicated in the one or more databases.
4 . The system of claim 1 , wherein the optimal reward-type transaction account maximizes or optimizes rewards across the plurality of reward-type transaction accounts.
5 . The system of claim 1 , wherein the optimal reward-type transaction account is predicted based at least in part on data, received from a POS terminal or equipment, indicating a type or category of the prospective transaction.
6 . The system of claim 1 , wherein the one or more processors are configured to receive confirmation data from a user-communication device linked to the optimal reward-type transaction account, before the data configured to cause processing of the prospective transaction is caused to be transmitted.
7 . The system of claim 1 , wherein the AI/ML model is configured to predict the optimal reward-type transaction account based on data, received from a POS equipment or terminal, indicating that a type of the prospective transaction corresponds to a type of transaction indicated in the user data as being a permitted type of transaction.
8 . The system of claim 1 , wherein the one or more processors are further configured to receive data from at least one third-party server to learn of rewards opportunities linked to at least one of the plurality of reward-type transaction accounts.
9 . The system of claim 1 , wherein the one or more processors are further configured to maintain the user data based on changes to the plurality of reward-type transaction accounts.
10 . The system of claim 1 , wherein the one or more processors are further configured to use access credentials to monitor use-related aspects of the plurality of reward-type transaction accounts.
11 . The system of claim 1 , wherein the data is transmitted in response to login credentials for use of the optimal reward-type transaction account.
12 . The system of claim 11 , wherein the transaction data includes identification authorization data for use with the unified electronic transaction device, and the one or more processors are configured to use the identification authorization data for the login credentials.
13 . The system of claim 11 , wherein the transaction data includes identification authorization data for use with the unified electronic transaction device that is distinct from the login credentials.
14 . The system of claim 1 , wherein the one or more processors are further configured to provide rewards-specific reporting information in response to a user query which is linked to authorization data indicated in the user data.
15 . The system of claim 1 , wherein the one or more processors are further configured to assess one or more additional rewards offerings for transaction accounts and in response, to recommend to the user, or an authorized entity as indicated in the user data, that a transaction account feature or transaction account that would have been best is not already among the plurality of reward-type transaction accounts.
16 . A computer-implemented method comprising:
receiving, via a server and over at least one communications network, transaction data, for a prospective transaction associated with a unified electronic transaction device representing a plurality of reward-type transaction accounts for a user, wherein the unified electronic transaction device includes or is integrated with at least one of: a smart card, a personal computer, or a portable user device, and wherein the unified electronic transaction device includes distinct identification data and is enabled for conveying the distinct identification data to a POS equipment or terminal;
retrieving from one or more databases and based on the transaction data, (i) rewards offerings data for each reward-type transaction account of the plurality of reward-type transaction accounts represented by the unified electronic transaction device and (ii) user data comprising (a) user-specific criteria for using each reward-type transaction account, (b) rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
inputting the rewards offerings data and the user data into an AI/ML model configured to predict an optimal reward-type transaction account for the prospective transaction from the plurality of reward-type transaction accounts at least in part by applying to the rewards offerings data for at least one reward-type transaction account of the plurality of reward-type transaction accounts (i) the user-specific criteria for the at least one reward-type transaction account and (ii) the rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
obtaining from the AI/ML model the optimal reward-type transaction account for the prospective transaction;
validating authorization to proceed with the prospective transaction based on user-configurable data by using a first security procedure and a second security procedure different from the first security procedure and comprising multi-factor authentication, wherein the user-configurable data comprises a code maintained through the second security procedure, and wherein the second security procedure is controlled by an authorizer or issuer of the unified electronic transaction device, wherein the distinct identification data of the unified electronic transaction device is linked to the user data and used as part of the first security procedure or the second security procedure for the authorization;
responsive to validating authorization to proceed, generating data associated with the optimal reward-type transaction account and configured to cause processing of the prospective transaction;
transmitting, over at least one communications network and to a computing entity, the data;
generating, for the AI/ML model and using a simulator, improvement suggestions related to use of the plurality of reward-type transaction accounts by simulating future transactions associated with the plurality of reward-type transaction accounts; and
providing the improvement suggestions to the AI/ML model.
17 . The computer-implemented method of claim 16 , further comprising:
optimizing and selecting, based at least in part on the improvement suggestions provided to the AI/ML model, a second optimal reward-type transaction account from the plurality of reward-type transaction accounts after processing of the prospective transaction, and effecting use of the second optimal reward-type transaction account in place of the optimal reward-type transaction account.
18 . The computer-implemented method of claim 16 , wherein the one or more databases store data linked to or stored with the user data to indicate user preferences with criteria for selecting certain reward-type transaction accounts of the plurality of reward-type transaction accounts to use for respective merchant offerings for different categories of transactions.
19 . The computer-implemented method of claim 16 , further including analyzing past transactions associated with the user for different reward-type transaction accounts of the plurality of reward-type transaction accounts and, in response, generating at least one suggestion for the user on how one or more of the plurality of reward-type transaction accounts could be or could have been improved by use of a different selection or by use of new or different transaction card.
20 . A storage device including instructions which, in response to being executed by a computing processor circuit, causes a method to be performed, the method comprising:
receiving transaction data for a prospective transaction associated with a unified electronic transaction device representing a plurality of reward-type transaction accounts for a user, wherein the unified electronic transaction device includes or is integrated with at least one of: a smart card, a personal computer, or a portable user device, and wherein the unified electronic transaction device includes distinct identification data and is enabled for conveying the distinct identification data to a POS equipment or terminal;
retrieving from one or more databases and based on the transaction data, (i) rewards offerings data for each reward-type transaction account of the plurality of reward-type transaction accounts represented by the unified electronic transaction device and (ii) user data comprising (a) user-specific criteria for using each reward-type transaction account, (b) rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
inputting the rewards offerings data and the user data into an AI/ML model configured to predict an optimal reward-type transaction account for the prospective transaction from the plurality of reward-type transaction accounts at least in part by applying to the rewards offerings data for at least one reward-type transaction account of the plurality of reward-type transaction accounts (i) the user-specific criteria for the at least one reward-type transaction account and (ii) the rewards-threshold goal for at least one of the plurality of reward-type transaction accounts;
obtaining, from the AI/ML model, the optimal reward-type transaction account for the prospective transaction;
validating authorization to proceed with the prospective transaction based on user-configurable data by using a first security procedure and a second security procedure different from the first security procedure and comprising multi-factor authentication, wherein the user-configurable data comprises a code maintained through the second security procedure, and wherein the second security procedure is controlled by an authorizer or issuer of the unified electronic transaction device, wherein the distinct identification data of the unified electronic transaction device is linked to the user data and used as part of the first security procedure or the second security procedure for the authorization;
responsive to validating authorization to proceed, generating data associated with the optimal reward-type transaction account and configured to cause processing of the prospective transaction;
transmitting, over at least one communications network and to a computing entity, the data;
generating, for the AI/ML model and using a simulator, improvement suggestions related to use of the plurality of reward-type transaction accounts by simulating future transactions associated with the plurality of reward-type transaction accounts; and
providing the improvement suggestions to the AI/ML model.
21 . The system of claim 1 , wherein the code is manipulated through the second security procedure by an authorizer or issuer of the unified electronic transaction device, the second security procedure to be used to complement the first security procedure for mitigating or preventing an unauthorized purchase involving use of the unified electronic transaction device for a transaction amount over a threshold specified via user data.
22 . The system of claim 1 , wherein the code is manipulated through use of the second security procedure by an authorizer or issuer of the unified electronic transaction device, and the second security procedure is to be used to complement the first security procedure specific to use of the unified electronic transaction device for a certain category of merchant offering.
23 . The system of claim 1 , wherein the one or more processors are further configured to:
assess, after the data is transmitted over the at least one communications network, whether a different reward-type transaction account of the plurality of reward-type transaction accounts would facilitate a rewards-maximization goal, and
cause return of a merchant offering, linked to proposed transaction completed via the optimal reward-type transaction account, and cause reprocessing of the prospective transaction via a different reward-type transaction account of the plurality of reward-type transaction accounts.
24 . The computer-implemented method of claim 16 , wherein the code is to be used for mitigating or preventing an unauthorized purchase through use of the unified electronic transaction device.
25 . The computer-implemented method of claim 16 , wherein the code is to be used for mitigating or preventing an unauthorized purchase involving a certain category of merchant offering.
26 . The computer-implemented method of claim 16 , wherein the code is to be used to complement the first security procedure for mitigating or preventing an unauthorized transaction involving an amount over a threshold specified via the user data.
27 . The computer-implemented method of claim 16 , wherein the plurality of reward-type transaction accounts is indicated by an association of data in the user data and the transaction data.
28 . The computer-implemented method of claim 16 , wherein the second security procedure comprises:
transmitting the code from a computing device associated with the authorizer or issuer of the unified electronic transaction device to a user-communication device to receive by the computing device the code or a variation of the code from the user-communication device; and
verifying the second security procedure compliance with the computing device.
29 . The computer-implemented method of claim 28 , wherein the code is a random code.
30 . The computer-implemented method of claim 16 , wherein the code is a user designated code stored in a user profile and is updated periodically by the user via one or more secure communication channels associated with the authorizer or issuer of the unified electronic transaction device.
31 . The computer-implemented method of claim 16 , further comprising determining the first security procedure and the second security procedure from a plurality of security procedures based on a profile associated with a processing network corresponding to the optimal reward-type transaction account.
32 . The computer-implemented method of claim 16 , further comprising determining the first security procedure and the second security procedure from a plurality of security procedures based on a user profile associated with the user.