RISK MITIGATING TRANSACTION AUTHORIZATION

摘要

Apparatus and methods for risk mitigating transaction authorization are provided. A transaction participant may responds to a request for transaction authorization with “PIN Entry Required,” and restrict signature based transaction authorizations. The risk mitigating transaction authorization may be transmitted for a transaction based on a stock-keeping-unit of an item included in a purchase. The risk mitigating transaction authorization may be transmitted for a transaction based on an amount of the transaction. The risk mitigating transaction authorization may be transmitted for a transaction based on a merchant category code identifier assigned to a merchant and/or a location of a purchase.

主权项

1. A computer that is configured to dynamically select an authorization method for a debit transaction initiated at a point-of-sale using a payment instrument, the computer comprising:
a non-transitory computer readable medium having computer readable program code embodied therein; and a processor configured to execute the computer readable program code;the computer readable program code when executed by the processor:
determines a level of risk associated with the debit transaction; selects an authorization method corresponding to the level of risk; transmits the selected authorization method to the point-of-sale; in response to receiving information required by the selected authorization:
authorizes the debit transaction; andassociates the debit transaction with a payment guarantee provided by an issuer of the payment instrument; and in response to a failure to receive the required information:
requires a signature to authorize the debit transaction;authorizes the debit transaction in response to receiving the signature; anddoes not associate the payment guarantee with the debit transaction.