Methods and systems for processing transactions

• US 20050192895A1
• Filed: 02/09/2005
• Published: 09/01/2005
• Est. Priority Date: 02/10/2004
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Trainor, Gary J., Rogers, SuZanne, Horton, Timothy
• Application Number:
  US11/055,028
• Publication Number:
  US 20050192895A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

Methods and systems are provided for processing a transaction between a first party and a second party. Information defining terms of the transaction and identifying a presentation instrument are received at a host system. Preference information associated with the presentation instrument is retrieved with the host system. The preference information specifies terms for an allocation of transaction amounts among multiple transaction types. An amount for the transaction is allocated among the transaction types in accordance with terms of the transaction and the terms for the allocation.

Claims

1. A method for processing a transaction between a first party and a second party, the method comprising:

receiving, at a host system, information defining terms of the transaction and identifying a presentation instrument;

retrieving, with the host system, preference information associated with the presentation instrument, wherein the preference information specifies terms for an allocation of transaction amounts among a plurality of transaction types; and

allocating, with the host system, an amount for the transaction among the plurality of transaction types in accordance with the terms of the transaction and the terms for the allocation.

2. The method recited in claim 1 wherein the transaction is one of a plurality of transactions between first parties and second parties, the method further comprising initiating, with the host system, settlement of the plurality of transactions in accordance with respective allocations of respective transaction amounts among the plurality of transaction types.

3. The method recited in claim 1 wherein the transaction is one of a plurality of transactions between first parties and second parties, the method further comprising performing, with the host system, a fraud analysis of the plurality of transactions.

4. The method recited in claim 1 wherein the terms for the allocation of transaction amounts comprise terms specifying one or more particular transaction types based on an identification of the second party.

5. The method recited in claim 1 wherein the terms for the allocation of transaction amounts comprise terms specifying one or more particular transaction types based on an identification of a type of product included in the transaction.

6. The method recited in claim 1 wherein the terms for the allocation of transaction amounts comprise terms specifying one or more particular transaction types based on the amount for the transaction.

7. The method recited in claim 1 wherein the terms for the allocation of transaction amounts require denial of the transaction if a defined characteristic is included in the terms of the transaction.

8. The method recited in claim 7 wherein the defined characteristic comprises an identity of the second party.

9. The method recited in claim 7 wherein the defined characteristic comprises an identification of a type of product included in the transaction.

10. The method recited in claim 1 wherein the information received at the host system further includes first-party-identification information, the method further comprising authenticating the first party on the basis of the first-party-identification information.

11. The method recited in claim 10 wherein the first-party-identification information comprises biometric information of the first party.

12. The method recited in claim 10 wherein the first-party-identification information comprises a signature of the first party.

13. The method recited in claim 10 wherein the first-party-identification information comprises an encryption certificate.

14. The method recited in claim 1 further comprising crediting, with the host system, a loyalty program in accordance with the terms of the transaction.

15. The method recited in claim 1 wherein:

the first party is a customer;

the second party is a merchant; and

the transaction comprises a transaction for a sale of goods or services by the customer from the merchant.

16. The method recited in claim 1 wherein:

the first party is a patient;

the second party is a healthcare provider; and

the transaction comprises a transaction for services provided by the healthcare provider to the patient.

17. The method recited in claim 1 further comprising:

receiving, at the host system, an identifier purportedly associated with the presentation instrument; and

verifying that the identifier is associated with the presentation instrument.

18. The method recited in claim 1 wherein the presentation instrument comprises a mark identifying the presentation instrument as available for use with the host system.

19. The method recited in claim 1 wherein the terms of the transaction require payment to the second party using a first form of value and at least one of the plurality of transaction types identifies a second form of value distinct from the first form of value, the method further comprising converting the second form of value to the first form of value.

20. The method recited in claim 1 further comprising requesting, with the host system, an authorization for the transaction.

21. The method recited in claim 20 wherein requesting the authorization comprises requesting the authorization from a third-party guarantor.

22. The method recited in claim 20 wherein requesting the authorization comprises:

determining an optimal routing for an authorization request through a network interfaced with the host system; and

transmitting the request through the network over the determined optimal routing.

23. The method recited in claim 1 further comprising:

receiving, at the host system, a request from the first party to replenish a first financial account associated with the first party by the host system, the request identifying a second financial account to act as a source of replenishment value; and

initiating, with the host system, a transfer of value from the second financial account to the first financial account in accordance with the request.

24. The method recited in claim 23 wherein the first financial account maintains a first form of value and the second financial account maintains a second form of value distinct from the first form of value, the method further comprising converting the second form of value to the first form of value.

25. A computer-readable storage medium having a computer-readable program embodied therein for directing operation of a host computer including a communications system, a processor, and a storage device, wherein the computer-readable program includes instructions for operating the host computer to process a transaction between a first party and a second party in accordance with the following:

receiving, with the communications system, information defining terms of the transaction and identifying a presentation instrument;

retrieving, from the storage device, preference information associated with the presentation instrument, wherein the preference information specifies terms for an allocation of transaction amounts among a plurality of transaction types; and

allocating, with the processor, an amount for the transaction among the plurality of transaction types in accordance with the terms of the transaction and the terms for the allocation.

26. The computer-readable storage medium recited in claim 25 wherein:

the transaction is one of a plurality of transactions between first parties and second parties; and

the computer-readable program further includes instructions for initiating, with the processor, settlement of the plurality of transactions in accordance with respective allocations of respective transaction amounts among the plurality of transaction types.

27. The computer-readable storage medium recited in claim 25 wherein:

the information received with the communications system includes first-party-identification information; and

the computer-readable program further includes instructions for authenticating the first party on the basis of the first-party-identification information.

28. The computer-readable storage medium recited in claim 25 wherein the computer-readable program further includes instructions for:

receiving, with the communications system, an identifier purportedly associated with the presentation instrument; and

verifying, with the processor, that the identifier is associated with the presentation instrument.

29. The computer-readable storage medium recited in claim 25 wherein:

the terms of the transaction require payment to the second party using a first from of value;

at least one of the plurality of transaction types identifies a second form of value distinct from the first form of value; and

the computer-readable program further includes instructions for converting the second form of value to the first form of value.

30. The computer-readable storage medium recited in claim 25 wherein the computer-readable program further includes instructions for requesting an authorization for the transaction.

31. The computer-readable storage medium recited in claim 30 wherein the instructions for requesting the authorization comprise instructions for requesting the authorization from a third-party guarantor.

32. The computer-readable storage medium recited in claim 30 wherein the instructions for requesting the authorization comprise:

instructions for determining an optimal route for an authorization request through a network interfaced with the host computer; and

instructions for transmitting the request through the network over the determined optimal routing.

33. The computer-readable storage medium recited in claim 25 wherein the computer-readable program further comprises:

instructions for receiving, with the communications system, a request from the first party to replenish a first financial account associated with the first party by the host computer, the request identifying a second financial account as a source of replenishment value; and

instructions for initiating, with the processor, a transfer of value from the second financial account to the first financial account in accordance with the request.

34. The computer-readable storage medium recited in claim 33 wherein the first financial account maintains a first form of value and the second financial account maintains a second form of value distinct from the first form of value, the computer-readable program further comprising instructions for converting the second form of value to the first form of value.