Post-Authorization Message For A Financial Transaction
First Claim
1. A method for sending an electronic post-authorization message associated with a financial transaction for a purchase order in real-time to a financial institution by a merchant, the method comprising:
- (a) electronically receiving an authorization for the financial transaction from the financial institution through a communication channel associated with a computer-based authorization system;
(b) assessing feasibility of the financial transaction, wherein the feasibility assessment is performed by the merchant;
(c) processing the financial transaction based on the feasibility assessment; and
(d) electronically providing the financial institution with the electronic post-authorization message, the electronic post-authorization message comprising details related to the processing of the financial transaction including information related to the feasibility assessment through the communication channel associated with the computer-based authorization system.
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Accused Products
Abstract
Embodiments of the present invention provide a method and system for enabling a financial institution to communicate with a merchant regarding post-authorization processing of a financial transaction. The merchant assesses feasibility of the financial transaction after receiving an authorization from the financial institution for the financial transaction and accordingly processes the financial transaction based on the feasibility assessment. The processing of the financial transaction may either result in fulfillment or non-fulfillment of the financial transaction depending on the feasibility assessment. Finally, the merchant provides the financial institution details related to the processing of the financial institution in real-time following the authorization.
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Citations
19 Claims
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1. A method for sending an electronic post-authorization message associated with a financial transaction for a purchase order in real-time to a financial institution by a merchant, the method comprising:
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(a) electronically receiving an authorization for the financial transaction from the financial institution through a communication channel associated with a computer-based authorization system; (b) assessing feasibility of the financial transaction, wherein the feasibility assessment is performed by the merchant; (c) processing the financial transaction based on the feasibility assessment; and (d) electronically providing the financial institution with the electronic post-authorization message, the electronic post-authorization message comprising details related to the processing of the financial transaction including information related to the feasibility assessment through the communication channel associated with the computer-based authorization system. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system to enable a financial institution to communicate with a merchant regarding processing of a financial transaction, the system comprising:
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(a) an authorization module configured to authorize a merchant to process the financial transaction by sending an electronic authorization to the merchant through a communication channel; (b) a receiving module configured to receive an electronic post-authorization message from the merchant, the post-authorization message comprising details related to the processing of the financial transaction including information related to a feasibility assessment of the financial transaction, wherein the electronic post-authorization message is received by the financial institution through the communication channel; and (c) a storage module configured to store details related to the processing of the financial transaction including the information related to the feasibility assessment of the financial transaction. - View Dependent Claims (9, 10, 11, 12, 13)
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14. A computer program product for use with a computer, the computer program product comprising a computer readable storage medium having a control logic stored therein for causing the computer to enable communication regarding processing of a financial transaction, the communication being enabled between a financial institution and a merchant, the control logic comprising:
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(a) first computer readable program code that causes the computer to receive a post-authorization message from the merchant, the post-authorization message comprising details related to the processing of the financial transaction including information related to feasibility assessment of the financial transaction; (b) second computer readable program code that causes the computer to confirm a risk associated with the financial transaction based on the details related to the processing of the financial transaction; and (c) third computer readable program code that causes the computer to store the details related to the processing of the financial transaction including the information related to the feasibility assessment. - View Dependent Claims (15, 16, 17, 18, 19)
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Specification