Smart phone system and method

1. A method comprising:

receiving, by a computer based system configured for processing a transaction, a first attempt of a transaction request from a merchant point of sale system;

declining, by the computer based system, the first attempt of the transaction request;

transmitting, by the computer based system, a first passively pushed message to an application associated with a transaction account holder, in response to and substantially in concert with the declined first attempt of the transaction request;

receiving, by the computer based system, a response to the first passively pushed message;

storing, by the computer based system, a preauthorization of a second attempt of the transaction request in response to the response to the first passively pushed message meeting pre-established criteria;

transmitting, by the computer based system, a second passively pushed message to the application associated with the transaction account holder;

receiving, by the computer based system, the second attempt of the transaction request from the merchant point of sale system; and

authorizing, by the computer based system, the second attempt of the transaction request.

2. The method of claim 1 , wherein the first passively pushed message is transmitted to a mobile device of the transaction account holder.

3. The method of claim 2 , further comprising receiving, by the computer based system, device characteristics of the mobile device associated with the transaction account holder via the received reply.

4. The method of claim 1 , wherein the transaction account holder downloads the application.

5. The method of claim 1 , wherein the transaction account holder installs the application on a mobile device.

6. The method of claim 1 , wherein the transaction account holder logs onto the application by a mobile device.

7. The method of claim 6 , wherein a unique device identifier is associated with the mobile device of the transaction account holder based on a digital fingerprint of the mobile device.

8. The method of claim 1 , wherein the transaction is authorized based on both the response to the passively pushed message indicating that the transaction is authorized and a digital fingerprint of the responding device matching a stored digital fingerprint of a mobile device associated with the transaction account holder.

9. The method of claim 1 , wherein the first passively pushed message is received by a mobile device.

10. The method of claim 1 , wherein the point of sale system is a virtual point of sale system.

11. The method of claim 1 , wherein the first passively pushed message comprises one of requesting authorization of a suspected fraudulent transaction, requesting payment on the transaction account, or the option to initiate a one click communication session.

12. The method of claim 11 , wherein the payment is requested on the transaction account due to the transaction account being past due or the transaction resulting in the transaction account exceeding a preset limit.

13. The method of claim 1 , further comprising receiving secure log-on data via the application.

14. The method of claim 1 , wherein the transaction is initiated via a mobile device of the transaction account holder.

15. The method of claim 1 , wherein the transaction is authorized based on the transaction account holder submitting a valid payment via the application in response to the passive pushed message.

16. The method of claim 15 , wherein the transaction account holder transmits secure log-on information to at least one of receive financial transaction account information or make a payment to the transaction account.

17. The method of claim 1 , wherein the first passively pushed message comprises a calculated minimum amount value particular to the instant transaction to cure the declined transaction.

18. The method of claim 1 , wherein the second passively pushed message instructs the transaction account holder to perform a second attempt of the transaction.

19. A system comprising:

a processor configured for processing a transaction,

a tangible, non-transitory memory configured to communicate with the processor,

the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:

receiving, by the processor, a first attempt of a transaction request from a merchant point of sale system;

declining, by the processor, the first attempt of the transaction request;

transmitting, by the processor, a first passively pushed message to an application associated with a transaction account holder, in response to and substantially in concert with the declined first attempt of the transaction request;

receiving, by the processor, a response to the first passively pushed message;

storing, by the processor, a preauthorization of a second attempt of the transaction request in response to the response to the first passively pushed message meeting pre-established criteria;

transmitting, by the processor, a second passively pushed message to the application associated with the transaction account holder;

receiving, by the processor, the second attempt of the transaction request transaction request from the merchant point of sale system; and

authorizing, by the processor, the second attempt of the transaction request.

20. 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 configured for processing a transaction, cause the computer-based system to perform operations comprising:

receiving, by the computer based system, a first attempt of a transaction request from a merchant point of sale system;

declining, by the computer based system, the first attempt of the transaction request;

transmitting, by the computer based system, a first passively pushed message to an application associated with a transaction account holder, in response to and substantially in concert with the declined first attempt of the transaction request;

receiving, by the computer based system, a response to the first passively pushed message;

storing, by the computer based system, a preauthorization of a second attempt of the transaction request in response to the response to the first passively pushed message meeting pre-established criteria;

transmitting, by the computer based system, a second passively pushed message to the application associated with the transaction account holder;

receiving, by the computer based system, the second attempt of the transaction request from the merchant point of sale system; and

authorizing, by the computer based system, the second attempt of the transaction request.