Public transit system fare processor for multi-balance funding

Abstract

An implementation of a system and method for processing transfer rides associated with at least one public transit network is provided. The system and method preprocess transactions to consolidate or eliminate unnecessary transactions with a financial institution clearing and settlement network.

What is claimed is: 
     
         1 . A method for blocking fraudulent electronic payments, the method comprising:
 receiving bankcard data from a currently presented bankcard at a bankcard reader;   deriving indicia for the currently presented bankcard from the bankcard data;   determining validity based on whether the currently presented bankcard is invalid, possibly valid, or valid, and based on the indicia;   determining admissibility based on the validity; and   sending an authorization/de-authorization signal to set access based on the admissibility.   
     
     
         2 . The method of  claim 1 , wherein determining the validity comprises checking whether the indicia is referenced as inadmissible in a list. 
     
     
         3 . The method of  claim 1 , the method further comprising:
 sending an authorization request including at least some of the bankcard data; and   receiving, based on sending the authorization request, an authorization response;   wherein the authorization response indicates the currently presented bankcard is authorized; and   wherein the authorization/de-authorization signal indicates the currently presented bankcard is authorized.   
     
     
         4 . The method of  claim 1 , wherein the authorization/de-authorization signal comprises a visual signal to a holder of the currently presented bankcard. 
     
     
         5 . The method of  claim 1 , wherein the authorization/de-authorization signal comprises an audible signal to a holder of the currently presented bankcard. 
     
     
         6 . The method of  claim 1 , wherein sending the authorization/de-authorization signal comprises opening a gate. 
     
     
         7 . The method of  claim 1 , wherein the currently presented bankcard is an ISO 14443 compliant card. 
     
     
         8 . The method of  claim 1 , wherein the currently presented bankcard is a MasterCard PayPass® card. 
     
     
         9 . The method of  claim 1 , wherein the bankcard reader comprises a magnetic reader. 
     
     
         10 . The method of  claim 1 , wherein:
 the bankcard data comprises a card identifier; and   at least some of the indicia is derived from the card identifier.   
     
     
         11 . The method of  claim 10 , wherein the card identifier is an account number. 
     
     
         12 . The method of  claim 10 , wherein the card identifier is a card serial number. 
     
     
         13 . The method of  claim 1 , wherein determining the validity comprises checking whether the indicia is referenced as valid in a list. 
     
     
         14 . The method of  claim 13 , wherein the list is a blacklist. 
     
     
         15 . The method of  claim 13 , wherein the list is a whitelist. 
     
     
         16 . The method of  claim 1 , further comprising storing for later use at least some of the indicia as stored data, wherein determining the validity comprises performing a time series analysis based on as least some of the stored data. 
     
     
         17 . The method of  claim 16 , wherein performing the time series analysis comprises checking the frequency with which the currently presented card is used within a specifiable time window and determining the card to be inadmissible if the frequency is higher than a threshold. 
     
     
         18 . The method of  claim 1 , wherein the currently presented bankcard was not issued by a financial institution. 
     
     
         19 . The method of  claim 1 , wherein the currently presented bankcard is emulated. 
     
     
         20 . The method of  claim 1 , wherein the currently presented bankcard data is variable. 
     
     
         21 . The method of  claim 1 , wherein determining the validity is performed locally.