SYSTEM AND METHOD FOR MOBILE DEVICE LIMITS

摘要

Exemplary embodiments provide methods and systems for configuring spending or credit limits for individual mobile devices for the same account, such as a credit card account. The spending limits may be configured by the primary account holder through a website or mobile application. A token id is set on the mobile device that corresponds to the account. The token id is unique for the individual mobile device During a mobile payment transaction, the token id is mapped back to the corresponding account and the available spending limit is evaluated with respect to the transaction. Based on this evaluation, an approval or denial for the transaction is generated.

主权项

1. A method, comprising:
setting a token id, corresponding to a payment account, on each of two or more mobile devices associated with an account holder; receiving a configuration, from the account holder, of an account spending limit for at least one mobile device of the two or more mobile devices; associating the account spending limit with the token id that is set on the at least one mobile device; receiving a transaction request, comprising an amount and the token id, from a merchant; identifying which mobile device of the two or more mobiles devices is used for the transaction based on the token id; determining whether the configured account spending limit is associated with the identified mobile device; upon determining the configured account spending limit for the mobile device, comparing the transaction request amount against the configured account spending limit; authorizing the transaction request upon the transaction request amount being less than the configured account spending limit; and denying the transaction request upon the transaction request amount exceeding the account spending limit.