Methods and systems for private label transaction processing
First Claim
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.
4 Assignments
0 Petitions
Accused Products
Abstract
In one embodiment, a first information packet is received at a payment network from a merchant, which includes a financial transaction cost and a private label card account identifier presented by the customer as a payment for the financial transaction. The private label card is a form of payment accepted only by the merchant or a merchant consortium that includes the merchant. The payment network uses the private label card account identifier to determine a financial account maintained by the customer at a financial institution and authorization information that allows debit access to the identified financial account. The payment network generates a second information packet comprising the transaction information, the account information, and the authorization information. The second information is transmitted from the payment network to the financial institution with a request to perform a debit transaction from the identified financial account for the cost of the financial transaction.
-
Citations
33 Claims
-
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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
-
-
10. A computerized method comprising:
-
receiving, from a merchant, account information that identifies a financial account maintained by a customer at a financial institution and authorization information that allows debit access to the identified financial account;
verifying, with the payment network, the account information and authorization information;
associating an account identifier for a private label card to the customer account information and authorization information, the private label card being a form of payment issued on behalf of one of the merchant and a merchant consortium that includes the merchant;
transmitting, from the payment network, an enrollment approval for the customer to the merchant. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
-
-
19. A payment network comprising:
-
a communications device;
a processor;
a storage device; and
a memory coupled with the processor, the memory comprising a computer-readable medium having a computer-readable program embodied therein for directing operation of the payment network, the computer-readable program including;
instructions for receiving, with the communications device, 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 or and a merchant consortium that includes the merchant;
instructions for determining from the private label card account identifier, with the processor, 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;
instructions for generating, with the processor, a second information packet comprising the transaction information, the account information, and the authorization information; and
instructions for transmitting, with the communications device, 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. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26)
-
-
27. A payment network comprising:
- .
a communications device;
a processor;
a storage device; and
a memory coupled with the processor, the memory comprising a computer-readable medium having a computer-readable program embodied therein for directing operation of the payment network, the computer-readable program including;
instructions for receiving, from a merchant, account information that identifies a financial account maintained by a customer at a financial institution and authorization information that allows debit access to the identified financial account;
instructions for verifying, with the processor, the account information and authorization information; and
instructions for associating, with the processor, a card number for a private label card to the customer account information and authorization information, the private label card being a form of payment issued on behalf of one of the merchant and a merchant consortium that includes the merchant; and
instructions for transmitting to the merchant, with the communications device, an enrollment approval for the customer. - View Dependent Claims (28, 29, 30, 31, 32, 33)
- .
Specification