Method and system to process credit card payment transactions initiated by a merchant
First Claim
1. A system to process credit card payment transactions initiated by a merchant, the system including:
- an interface to receive a merchant-initiated request for a transfer of funds from a buyer credit card account;
a credit card processing application to initiate the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service, the third-party merchant bank account to receive funds from the buyer credit card account on behalf of the merchant; and
a funds allocation application to allocate the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service.
2 Assignments
0 Petitions
Accused Products
Abstract
A system, to process credit card payment transactions initiated by a merchant, includes an interface to receive a merchant-initiated request for a transfer of funds from a buyer credit card account. A credit card processing application initiates the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service. The third-party merchant bank account receives funds from the buyer credit card account on behalf of the merchant. A funds allocation application allocates the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service. The credit card processing application may be virtual point of sale (POS) terminal application, hosted at a server computer system operated by the third-party payment service, and accordingly may be accessible by the merchant via a network.
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Citations
20 Claims
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1. A system to process credit card payment transactions initiated by a merchant, the system including:
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an interface to receive a merchant-initiated request for a transfer of funds from a buyer credit card account;
a credit card processing application to initiate the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service, the third-party merchant bank account to receive funds from the buyer credit card account on behalf of the merchant; and
a funds allocation application to allocate the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method to process credit card payment transactions initiated by a merchant, the method including:
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receiving a merchant-initiated request for a transfer of funds from a buyer credit card account;
initiating the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service, the third-party merchant bank account to received funds from the buyer credit card account on behalf of the merchant; and
allocating the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A system to process credit card payment transactions initiated by a merchant, the system including:
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first means for receiving a merchant-initiated request for a transfer of funds from a buyer credit card account;
second means for initiating the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service, the third-party merchant bank account to received funds from the buyer credit card account on behalf of the merchant; and
third means for allocating the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service.
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20. A machine-readable medium storing a set of instructions that, when executed by a machine, cause in the machine to perform a method to process credit card payment transactions initiated by a merchant, the method including:
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receiving a merchant-initiated request for a transfer of funds from a buyer credit card account;
initiating the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service, the third-party merchant bank account to receive funds from the buyer credit card account on behalf of the merchant; and
allocating the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service.
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Specification