G - Physics – 06 – Q
Patent
G - Physics
06
Q
G06Q 20/34 (2012.01)
Patent
CA 2364142
An account associated with a card is characterized by one or more budgetary items (collectively contained within a budget) that may be created by the card holder, account holder or a third party (e.g., depositor of funds into the account). A budgetary item may be created based on a time period (e.g., monthly, weekly, yearly, etc.) regardless of the funds presently in the account. A budgetary item may be categorized by function (e.g., a category of expenditures), item or merchant. For example, a budgetary item may be created for "household supplies", "shoes" or "The Gap". The budget may be stored by the card itself, a financial institution or by a third party (e.g., the card issuer, the card holder's personal financial software, etc.). When a purchase is being made, a transaction is initiated between the merchant/supplier of the goods or services and the account holder (e.g., the smart card, the card issuer, financial institution, etc.) similar to conventional transactions. The budgetary items are used to determine, in part, whether a proposed financial transaction is to be authorized, in whole or in part, or rejected, in whole or in part.
Ibm Canada Limited-Ibm Canada Limitee
Wang Peter
LandOfFree
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