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As the inventor of patent 6,931,382 USPTO (granted on August 2005), I recall the hardship of not only having to design, document, defend my patent application but having to prove that it is beyond being a concept by actually creating the actual system to prove that it works.
Patent 6,931,382 includes claims of : systems that automatically enable card account owners (payment instrument holders/owners) to enter User Limits (such as amount, location, type of transaction, etc.).
Mastercard and ORBISCOM and (as I recall, we also spoke to RBS) are aware of this patent (well it was an application when we first spoke to these companies).
The inventor is a founder of CardSwitch Technology Limited (UK based company) and CardSwitch Technolgy has been actively offering this system/solution to Issuing Banks.
www.cardswitchtechnology.com
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