ACCOUNT TRANSACTION VALUE ADDED TAX REIMBURSEMENT

• US 20110016043A1
• Filed: 07/20/2009
• Published: 01/20/2011
• Est. Priority Date: 07/20/2009
• Status: Abandoned Application

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Dornseif, Barbara
• Application Number:
  US12/506,105
• Publication Number:
  US 20110016043A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Transaction data is received and stored for purchases on accounts with authorization request requests for payment, where the currency of the purchase and the account are different. For each authorized transaction, clearing and settlement is facilitated as well as VAT reimbursement requests from different government entities. For each received VAT reimbursement request, it is determined whether the account is in a VAT reimbursement database, and if so then it is determined whether the data from the transaction is in a VAT reimbursement transactions database, and if so, then clearing and settlement of a VAT reimbursement payment is faciliated between the account and the corresponding government entity.

Claims

1. A method comprising a plurality of steps each being performed by a computing apparatus executing software, wherein the steps include:

receiving a plurality of payment authorization requests for a plurality of transactions on respective accounts, each said transaction being conducted for a purchase from a merchant on a corresponding said account, wherein each said authorization request requests payment for the purchase from the corresponding said account for the benefit of the merchant in a currency different than the currency of the corresponding said account;

sending, in response to the payment authorization requests, the authorization requests;

receiving, in response to the authorization requests, authorization request responses for the plurality of transactions;

sending the authorization request responses, wherein a plurality of the authorization request responses are allowed such that the corresponding payment for the purchase is authorized to be paid from the corresponding said account;

for each said transaction for which the authorization request response is allowed;

facilitating the clearing and settlement of the transaction; and

determining whether the account of the transaction is in a Value Added Tax (VAT) reimbursement database, and if so then storing data from the transaction in a VAT reimbursement transactions database;

receiving, from a plurality of different government entities, a plurality of VAT reimbursement requests each corresponding to one said transaction on one said account; and

for each said received VAT reimbursement request, determining whether the account of the transaction is in a Value Added Tax reimbursement database, and if so then determining whether the corresponding said data from the transaction is stored in the VAT reimbursement transactions database, and if so, then facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the account of the transaction and the corresponding said government entity.

2. The method as defined in claim 1, wherein the step of facilitating the clearing and settlement of the transaction further comprises converting the currency of the purchase to the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

3. The method as defined in claim 1, wherein the step of facilitating the clearing and settlement of the transaction further comprises an entity acting as both acquirer for the merchant and issuer of the account upon which the transaction was conducted with the merchant.

4. The method as defined in claim 1, wherein the step of facilitating the clearing and settlement of the transaction further comprises a first entity acting as an acquirer for the merchant and a second, different entity, acting as an issuer of the account upon which the transaction was conducted with the merchant.

5. The method as defined in claim 1, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction comprises:

sending a VAT reimbursement amount request for delivery to the corresponding said government entity;

receiving, in response to the VAT reimbursement amount request, the VAT reimbursement payment; and

sending the VAT reimbursement payment to credit to the account upon which the transaction was conducted with the merchant.

6. The method as defined in claim 1, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the account of the transaction and the corresponding said government entity further comprises converting the VAT reimbursement payment into the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

7. The method as defined in claim 1, wherein:

the currency of each said purchase is Euros; and

each said governmental entity is a member of the European Community.

8. A method comprising a plurality of steps each being performed by a computing apparatus executing software, wherein the steps include:

receiving, from a plurality of different acquirers, a plurality of payment authorization requests for a plurality of transactions on respective accounts issued by a plurality of different issuers, each said transaction being conducted for a purchase from a merchant on a corresponding said account issued by one said issuer to an account holder, wherein each said authorization request requests payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant in a currency different than the currency of the corresponding said account;

sending, in response to the payment authorization requests, the authorization requests to the respective issuers of the respective accounts upon which the plurality of transactions are being conducted;

receiving, in response to the authorization requests, authorization request responses from the respective issuers for the plurality of transactions;

sending the authorization request responses to the respective acquirers for the plurality of transactions, wherein a plurality of the authorization request responses are allowed such that the corresponding said issuer has authorized the corresponding payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant;

for each said transaction for which the authorization request response is allowed;

facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer; and

determining whether the account of the transaction is in a Value Added Tax (VAT) reimbursement database, and if so then storing data from the transaction in a VAT reimbursement transactions database;

receiving, from a plurality of different government entities, a plurality of VAT reimbursement requests each corresponding to one said transaction on one said account; and

for each said received VAT reimbursement request, determining whether the account of the transaction is in a Value Added Tax reimbursement database, and if so then determining whether the corresponding said data from the transaction is stored in the VAT reimbursement transactions database, and if so, then facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity.

9. The method as defined in claim 8, wherein the step of facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer further comprises converting the currency of the purchase to the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

10. The method as defined in claim 8, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity comprises:

sending a VAT reimbursement amount request for delivery to the corresponding said government entity;

receiving, in response to the VAT reimbursement amount request, the VAT reimbursement payment; and

sending the VAT reimbursement payment, for delivery to the issuer of the account of the transaction, to credit to the account upon which the transaction was conducted with the merchant.

11. The method as defined in claim 8, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity further comprises converting the VAT reimbursement payment into the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

12. The method as defined in claim 8, wherein:

the currency of each said purchase is Euros; and

each said governmental entity is a member of the European Community.

13. A method comprising a plurality of instructions which, when executed by a computing apparatus, the computing apparatus performs a plurality of steps, wherein the steps include:

receiving, from a plurality of different acquirers, a plurality of payment authorization requests for a plurality of transactions on respective accounts issued by a plurality of different issuers, each said transaction being conducted for a purchase from a merchant on a corresponding said account issued by one said issuer to an account holder, wherein each said authorization request requests payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant in Euros and the currency of the corresponding said account is not Euros;

sending the authorization requests to the respective issuers of the respective accounts upon which the plurality of transactions are being conducted;

receiving, in response to the authorization requests, authorization request responses from the respective issuers for the plurality of transactions;

sending the authorization request responses to the respective acquirers for the plurality of transactions, wherein at least said authorization request response is an allowed authorization such that the corresponding said issuer has authorized the corresponding payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant;

for each said transaction for which the authorization request response is an allowed authorization;

facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer, including converting the currency of the purchase to the currency of the corresponding said the account upon which the transaction was conducted with the merchant; and

determining whether the account of the transaction is in a Value Added Tax (VAT) reimbursement database, and if so then storing data from the transaction in a VAT reimbursement transactions database;

receiving, from a plurality of different members of the European Community, a plurality of VAT reimbursement requests each corresponding to one said transaction on one said account; and

for each said received VAT reimbursement request, determining whether the account of the transaction is in a Value Added Tax reimbursement database, and if so then determining whether the corresponding said data from the transaction is stored in the VAT reimbursement transactions database, and if so, then;

sending a VAT reimbursement amount request for delivery to the corresponding said member of the European Community;

receiving, in response to the VAT reimbursement amount request, the VAT reimbursement payment in Euros;

converting the VAT reimbursement payment in Euros to the currency of the corresponding said the account upon which the transaction was conducted with the merchant; and

sending the converted VAT reimbursement payment, for delivery to the issuer of the account of the transaction, for crediting to the account upon which the transaction was conducted with the merchant.

14. A computing apparatus comprising:

means for receiving, from a plurality of different acquirers, a plurality of payment authorization requests for a plurality of transactions on respective accounts issued by a plurality of different issuers, each said transaction being conducted for a purchase from a merchant on a corresponding said account issued by one said issuer to an account holder, wherein each said authorization request requests payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant in a currency different than the currency of the corresponding said account;

means for sending, in response to the payment authorization requests, the authorization requests to the respective issuers of the respective accounts upon which the plurality of transactions are being conducted;

means for receiving, in response to the authorization requests, authorization request responses from the respective issuers for the plurality of transactions;

means for sending the authorization request responses to the respective acquirers for the plurality of transactions, wherein a plurality of the authorization request responses are allowed such that the corresponding said issuer has authorized the corresponding payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant;

for each said transaction for which the authorization request response is allowed;

means for facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer; and

means for determining whether the account of the transaction is in a Value Added Tax (VAT) reimbursement database, and if so then storing data from the transaction in a VAT reimbursement transactions database;

receiving, from a plurality of different government entities, a plurality of VAT reimbursement requests each corresponding to one said transaction on one said account; and

for each said received VAT reimbursement request, means for determining whether the account of the transaction is in a Value Added Tax reimbursement database, and if so then means for determining whether the corresponding said data from the transaction is stored in the VAT reimbursement transactions database, and if so, then means for facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity.

15. The computing apparatus as defined in claim 14, wherein the step of facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer further comprises converting the currency of the purchase to the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

16. The computing apparatus as defined in claim 14, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity comprises:

sending a VAT reimbursement amount request for delivery to the corresponding said government entity;

receiving, in response to the VAT reimbursement amount request, the VAT reimbursement payment; and

sending the VAT reimbursement payment, for delivery to the issuer of the account of the transaction, to credit to the account upon which the transaction was conducted with the merchant.

17. The computing apparatus as defined in claim 14, wherein the step of facilitating a clearing and settlement of a VAT reimbursement payment for the transaction between the corresponding said issuer of the account of the transaction and the corresponding said government entity further comprises converting the VAT reimbursement payment into the currency of the corresponding said the account upon which the transaction was conducted with the merchant.

18. The computing apparatus as defined in claim 14, wherein:

the currency of each said purchase is Euros; and

each said governmental entity is a member of the European Community.

19. A computing apparatus comprising:

means for receiving, from a plurality of different acquirers, a plurality of payment authorization requests for a plurality of transactions on respective accounts issued by a plurality of different issuers, each said transaction being conducted for a purchase from a merchant on a corresponding said account issued by one said issuer to an account holder, wherein each said authorization request requests payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant in a first currency and the currency of the corresponding said account is not the first currency;

means for sending the authorization requests to the respective issuers of the respective accounts upon which the plurality of transactions are being conducted;

means for receiving, in response to the authorization requests, authorization request responses from the respective issuers for the plurality of transactions;

means for sending the authorization request responses to the respective acquirers for the plurality of transactions, wherein at least said authorization request response is an allowed authorization such that the corresponding said issuer has authorized the corresponding payment for the purchase from the corresponding said account to the corresponding said acquirer for the benefit of the merchant;

for each said transaction for which the authorization request response is an allowed authorization;

means for facilitating the clearing and settlement of the transaction between the corresponding said issuer and the corresponding said acquirer, including converting the currency of the purchase to the currency of the corresponding said the account upon which the transaction was conducted with the merchant; and

means for determining whether the account of the transaction is in a Value Added Tax (VAT) reimbursement database, and if so then storing data from the transaction in a VAT reimbursement transactions database;

means for receiving, from a plurality of different governmental entities, a plurality of VAT reimbursement requests each corresponding to one said transaction on one said account; and

for each said received VAT reimbursement request, means for determining whether the account of the transaction is in a Value Added Tax reimbursement database, and if so then means for determining whether the corresponding said data from the transaction is stored in the VAT reimbursement transactions database, and if so, then;

means for sending a VAT reimbursement amount request for delivery to the corresponding said governmental entity;

means for receiving, in response to the VAT reimbursement amount request, the VAT reimbursement payment in the first currency;

means for converting the VAT reimbursement payment from the first currency to the currency of the corresponding said the account upon which the transaction was conducted with the merchant; and

means for sending the converted VAT reimbursement payment, for delivery to the issuer of the account of the transaction, for the crediting to the account upon which the transaction was conducted with the merchant.

20. The computing apparatus as defined in claim 19, wherein:

each said governmental entity is a member of the European Community; and

the currency of each said purchase is Euros.