SYSTEMS AND METHODS FOR PROVIDING MERCHANT FRAUD ALERTS

• Main Authors: Chan, Paul Mon-Wah, Sivashanmugan, Prabaharan, Lee, John Jong Suk, Chak, Andrew, Jeschke, Gerald, JIVRAJ, SALIM, Del Vecchio, Orin, Van Heerden, Lauren, Stephenson, Mike, Cummins, Michael D
• Format: Patent
• Language: English
• Published: 26.12.2019
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

Mobile communications devices, systems and methods are provided for identifying a risk of fraudulent activity associated with a merchant before a user executes a transaction with the merchant. In an embodiment, a mobile communications device obtains first information identifying prior instances of fraudulent activity associated with a merchant. The mobile communications device may determine a level of risk of fraudulent activity associated with the merchant based on the obtained first information, and may identify, based on the determined risk level, one or more payment instruments and associated incentives appropriate for financial services transactions involving the merchant. The mobile communications device may present, to a user, a notification including the identified payment instruments and associated incentives prior to execution of a transaction between the user and the merchant.