LIMITING TOKEN COLLABORATION NETWORK USAGE BY TOKEN

摘要

The present invention includes an apparatus, method, and computer program product for use in a token based financial transaction system, whereby the apparatus applies transaction sensitive limits to a proposed financial transaction for purposes of approving, denying, or partially funding a token based financial transaction. The present invention is configured to: determine one or more limits associated with the token, wherein the one or more limits define which financial transactions will be authorized; process a request to execute a transaction, wherein processing the request includes determining if the one or more limits associated with the user are met based on transaction information; allow the transaction in response to determining when the one or more limits are met; and deny the transaction in response to determining when the one or more limits fail to be met.

主权项

1. An apparatus for use in a token based financial transaction system, whereby the apparatus applies transaction sensitive limits to a proposed financial transaction for purposes of approving or denying the proposed financial transaction, whereby the transaction sensitive limits are associated with a token used to enter into the proposed financial transaction, the apparatus comprising:
a memory; a computing processor; and a module stored in memory, said module comprising instruction code executable by one or more computing processors, and configured to cause the one or more computing processors to: receive from a user a request to execute a financial transaction using the token as a replacement for account information from which funds are provided to pay for the financial transaction; receive transaction information associated with the request to execute the financial transaction; determine one or more limits associated with the token, wherein the one or more limits define which financial transactions will be authorized; process the request to execute the transaction, wherein processing the request includes determining if the one or more limits associated with the token are met based on the transaction information; allow the transaction in response to determining when the one or more limits are met; and deny the transaction in response to determining when the one or more limits fail to be met.