Mobile User Identify And Risk/Fraud Model Service

Abstract

Transactions using, for example, Near Field Communication (NFC), Bluetooth, online, or other applications, may pose a risk of fraud or identity theft. According to an embodiment, a method of evaluating transaction information in view of potential fraud and / or risk includes receiving transaction information at a remote location. The method also includes correlating the received transaction information with user data maintained at the remote location. The method further includes generating a score and / or risk or fraud data based on the correlating. Such transactions may be facilitated by a payment service provider. Related methods, devices, and systems are also disclosed.

Description

RELATED APPLICATIONS[0001]This application claims priority to U.S. Provisional Application Ser. No. 61 / 059,395 filed on Jun. 6, 2008, and U.S. Provisional Application Ser. No. 61 / 059,907 filed on Jun. 9, 2008, the contents of which are hereby incorporated by reference in their entirety.BACKGROUND[0002]1. Technical Field[0003]Embodiments of the present disclosure generally relate to financial transactions, and more particularly, to methods and systems for financial transactions conducted by a user that may be identified and evaluated in view of potential risk and / or fraud.[0004]2. Related Art[0005]“Contactless technology” refers to short distance communications between two devices that are not physically connected. A wide variety of “contactless technology” exists today. Near Field Communication (NFC) is a specific type of “contactless technology” that is of high importance to Mobile Network Operators (MNOs) and to Service Providers (SP), for example, banks. NFC is a short-range high...

AI Technical Summary

Benefits of technology

[0026]In accordance with another embodiment of the disclosure, a client device includes one or more processors and one or more memories adapted to store a plurality of machine-readable instructions. When executed by the one or more processors, the machine-readable instructions are adapted to cause the client device to provide transaction information to a remote location, wherein the transaction information is associated with a user-merchant transaction, a user-user transaction, a merchant-user transaction and / or a merchant-merchant transaction; and provide a user identifier to the remote location wherein the remote location creates user data associated with the client device based on the user identifier so that the user data may be correlated with the transaction information thus allowing generation of potential fraud and / or risk data.

Problems solved by technology

A disadvantage of credit card usage is that online merchants may be exposed to high fraud costs and “chargeback fees,” bearing liability because there is no credit card signature with an online sale.

A problem exists in these models because there is no identity, risk, or fraud information that may be obtained by, for example, Service Providers to evaluate the transaction.

The Service Providers, for example, may only have visibility into transactions involving their own services, thus limiting meaningful evaluation of potentially risky and / or fraudulent transactions.

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