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Systems and methods for use in routing funds, associated with transactions, to direct-pay accounts

  • US 10,685,342 B2
  • Filed: 12/03/2015
  • Issued: 06/16/2020
  • Est. Priority Date: 12/03/2015
  • Status: Active Grant
First Claim
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1. A computer-implemented method for use in apportioning funds directed to merchants based on purchase transactions to payment accounts associated with merchants, the method comprising:

  • storing, by at least one computing device of a payment network, a direct-pay rule for a merchant in a data structure in a memory, the direct-pay rule including a merchant identifier for the merchant and defining an apportionment of network-based funds, payable to the merchant, between a payment account of the merchant and a direct-pay account of a creditor, the payment network coupled between an issuer and an acquirer associated with the merchant;

    identifying, by the at least one computing device, in a first clearing record from the acquirer, a network-based fund transfer directed, via the payment network, to the payment account of the merchant during clearing and settlement of one or more transactions, the one or more transactions included in the first clearing record and directing funds to the payment account of the merchant, the network-based fund transfer identified based on the merchant identifier for the merchant embedded in the first clearing record;

    interrupting, by the at least one computing device, the network-based fund transfer and apportioning funds of the network-based fund transfer into a first portion and a second portion based on the apportionment defined by the direct-pay rule, prior to deposit of the funds into the payment account of the merchant;

    modifying a second clearing record associated with the creditor to include the first portion of the funds;

    embedding an identifier in the second clearing record regarding one or more of;

    a relationship between the merchant and the creditor, a total payment to be made by the merchant to the creditor, a month-to-date amount paid by the merchant to the creditor, a life-to-date amount paid by the merchant to the creditor, or a total remaining balance of a debt associated with the direct-pay rule;

    routing, by the at least one computing device, the first portion of the funds to the direct-pay account associated with the creditor consistent with the modified second clearing record, whereby the first portion of the funds is delivered to the direct-pay account in service of a debt between the creditor and the merchant, without the first portion of the funds being deposited to the payment account of the merchant;

    modifying the first clearing record from the acquirer associated with the merchant to include the second portion of the funds;

    routing, by the at least one computing device, the second portion of the funds to the payment account of the merchant consistent with the modified first clearing record, thereby completing the network-based fund transfer; and

    transmitting, by the at least one computing device, based on the embedded identifier in the second clearing record, one or more apportionment records to at least one of the merchant, the acquirer, or the creditor.

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