System and method for monitoring merchant transactions using aggregated financial data
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United States of America Patent
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Apr 17, 2018
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app pub date -
Jan 29, 2014
filing date -
Jan 29, 2014
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Abstract
A computer-implemented method of detecting a merchant with chargeback activity includes a computing device receiving merchant financial data from a plurality of different financial service providers, wherein the merchant financial data comprises chargebacks. The computing device aggregates the received merchant financial data into, for example, a database. The computing device analyzes the aggregated merchant financial data of a single merchant for a chargeback characteristic and the computing device flags the merchant when the chargeback characteristic exceed preset threshold levels. A flagged merchant may trigger an optional notification to one or more of the financial service provider (e.g., card issuer), the acquiring bank, the merchant, or the customer.
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