Importance

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Abstract

The systems and methods of the invention utilize a wireless device such as a mobile phone, personal digital assistant (PDA) with wireless massaging capabilities, two-way pager, etc. to notify the account holder of a pending credit/debit account transaction and to obtain approval from the account holder. In order to provide nearly universal interoperability with existing vendors, the invention employs an 'authorizing entity'. The authorizing entity may be provided by the credit/debit card issuer or may be provided by a third party in communication with the card issuer. In the broadest sense, the methods of the invention include the steps of sending a message (including the vendor ID and payment amount) from the wireless device to the authorizing entity and sending a payment confirmation message from the authorizing entity to the vendor. Methods of enhancing the customer's privacy are also disclosed.

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First Claim