PREPAID NEGATIVE BALANCE FEE PROCESSING AND FEE DIVERSION
First Claim
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1. An apparatus for negative balance processing of a prepaid card, comprising:
- a database for storing data related to the prepaid card, anda processing engine for applying a fee criteria to the prepaid card data and selectively determining whether the transaction is allowed, disallowed, allowed with a partial fee or allowed with a fee diverted, the processing engine in communications with the database.
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Abstract
Systems and methods are provided for a prepaid credit card processing system wherein components or entities such as the acquirer, issuer, or prepaid card processing network can dynamically determine, at the time of the transaction, whether a credit card transaction will be allowed—even where the fee associated with the transaction would cause the balance to fall below zero.
115 Citations
20 Claims
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1. An apparatus for negative balance processing of a prepaid card, comprising:
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a database for storing data related to the prepaid card, and a processing engine for applying a fee criteria to the prepaid card data and selectively determining whether the transaction is allowed, disallowed, allowed with a partial fee or allowed with a fee diverted, the processing engine in communications with the database. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for processing a prepaid card, comprising:
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receiving transaction data from a transaction event associated with the prepaid card; applying a fee criteria to the transaction data to selectively determine whether the transaction event is allowed, disallowed, allowed with a partial fee or allowed with a diverted fee. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14)
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15. A method for configuring a prepaid card for negative balance processing, comprising:
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configuring a fee criteria for a prepaid card by selectively electing within the fee criteria options for fee payment on a fee type by fee type basis; and associating the configured fee criteria with card holder data in a database for application during negative balance processing. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification