Abstract: A transaction processing system according to various embodiments of the invention is adapted for: (1) associating a particular account (e.g., a credit card account) with a particular phone number; (2) at least partially in response to receiving a request to approve a transaction associated with the account, automatically transmitting a message (e.g., a text message) to the account holder via the phone number, requesting that the account holder confirm that the transaction is valid; and (3) using a response to the message to determine whether to approve or deny the transaction. In various embodiments, the request confirmation message requests that that the user answer a particular question (e.g., regarding out-of-wallet data), and the system is adapted to determine whether to approve or deny the transaction based on whether the response included a correct answer to the question.

Abstract: An exemplary method of providing a transaction confirmation service to a merchant comprises the steps of: (1) receiving an agreement from a merchant to display a transaction confirmation service icon on a web site associated with a merchant and/or to directly market a transaction confirmation service to customers of the merchant; and (2) at least partially in response to receiving the agreement from the merchant, providing at least one transaction confirmation service to the merchant at substantially no charge to the merchant. An exemplary method of providing a transaction confirmation service to a customer includes the steps of: (1) receiving an agreement from the customer to receive at least one particular direct marketing message; and (2) at least partially in response to receiving the agreement from the customer, providing at least one transaction confirmation service to the customer at no charge to the customer.

Abstract: A transaction processing system according to various embodiments of the invention is adapted for: (1) associating a particular account (e.g., a credit card account) with a particular phone number; (2) at least partially in response to receiving a request to approve a transaction associated with the account, automatically transmitting a message (e.g., a text message) to the account holder via the phone number, requesting that the account holder confirm that the transaction is valid; and (3) using a response to the message to determine whether to approve or deny the transaction. In various embodiments, the request confirmation message requests that that the user answer a particular question (e.g., regarding out-of-wallet data), and the system is adapted to determine whether to approve or deny the transaction based on whether the response included a correct answer to the question.