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Methods and systems for private label transaction processing

  • US 20050234817A1
  • Filed: 04/16/2004
  • Published: 10/20/2005
  • Est. Priority Date: 04/16/2004
  • Status: Abandoned Application
First Claim
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1. A computerized method comprising:

  • receiving, at a payment network, a first information packet from a merchant, the first information packet including a cost of a financial transaction between the merchant and a customer and a private label card account identifier presented by the customer as a payment for the financial transaction, the private label card being a form of payment accepted only by one of the merchant and a merchant consortium that includes the merchant;

    using the private label card account identifier to determine, with the payment network, account information that identifies a financial account maintained by the customer at a financial institution and authorization information that allows debit access to the identified financial account;

    generating, at the payment network, a second information packet comprising the transaction information, the account information, and the authorization information; and

    transmitting from the payment network, the second information packet to the financial institution with a request to perform a debit transaction from the identified financial account for the cost of the financial transaction.

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