ELECTRONIC PAYMENT AND BUDGETING SYSTEM UTILIZING CONFIGURABLE PAYMENT CARDS

摘要

Systems and methods are disclosed for allocating funds from a primary account to one or more configurable payment cards for use in a payment transaction. An electronic transaction system includes an account database storing account and configurable card data for a user. A budget module enables the user to allocate funds to various virtual accounts and assign configurable cards to each virtual account, and configure resource limitations and use restrictions on each virtual account and configurable card. A user device provides an interface for managing the account, budget and configurable card information and receives a real-time account, budget and configurable card information. The configurable cards may be used to make payments through a merchant's point-of-sale system which interfaces with the electronic transaction system to authenticate the card transaction.

主权项

1. A system for processing a payment transaction using a configurable payment card comprising:
a database storing user account information and payment transaction data, the user account information including a primary account identifier, a card identifier for a configurable payment card, and at least one user-configured use restriction on the configurable payment card; and a transaction processing server communicably coupled to the database and configured to receive a payment transaction message including a transaction card identifier and transaction information, identify the user account associated with the transaction card identifier, verify compliance with the associated restriction on the use of the configurable payment card, and process the authorized payment transaction through the user account; wherein the user-configured use restriction requires an associated user device in geographic proximity to the location of the payment transaction.