17883968. METHODS AND ARRANGEMENTS FOR PROOF OF PURCHASE simplified abstract (Capital One Services, LLC)
Contents
METHODS AND ARRANGEMENTS FOR PROOF OF PURCHASE
Organization Name
Inventor(s)
Kevin Osborn of Newton MA (US)
Jeffrey Rule of Chevy Chase MD (US)
METHODS AND ARRANGEMENTS FOR PROOF OF PURCHASE - A simplified explanation of the abstract
This abstract first appeared for US patent application 17883968 titled 'METHODS AND ARRANGEMENTS FOR PROOF OF PURCHASE
Simplified Explanation
- Logic enforces a rate limit for product offers and generates a product token for product authentication. - The rate limit is determined based on the consumer's identity in a cryptogram for a transaction. - The rate limit is compared with the quantity of purchases of the product made with a payment instrument provided for the transaction. - The transaction is approved if the rate limit is greater than the purchases of the product. - A product token is created via the cryptogram to uniquely identify the product and is transmitted to the consumer.
Potential Applications
This technology could be applied in e-commerce platforms to limit the number of purchases of a specific product by a consumer, preventing abuse or overspending.
Problems Solved
- Prevents unauthorized purchases of a product by enforcing a rate limit. - Enhances security by generating a unique product token for authentication.
Benefits
- Improved control over product purchases. - Enhanced security measures for product authentication. - Prevention of fraudulent transactions.
Original Abstract Submitted
Logic may provide enforce a rate limit for product offers and generate a product token associated for product authentication. Logic may determine a rate limit associated with the product based on an identity of the consumer in a cryptogram for a transaction. Logic may compare the rate limit with a quantity of purchases of the product with a payment instrument provided for payment for the transaction, the rate limit to limit purchases of the product via the payment instrument or by the consumer associated with the payment instrument. Logic may approve the transaction based on comparison of the rate limit in response to the rate limit being greater than purchases of the product. Logic may create a product token via the cryptogram, the product token encoded via the cryptogram, the product token to uniquely identify the product and logic may cause transmission of the product token to the consumer.
