Device and Method for Settlement Optimization

• US 20110153478A1
• Filed: 12/18/2009
• Published: 06/23/2011
• Est. Priority Date: 12/18/2009
• Status: Abandoned Application

• Current Assignee: AT&T Intellectual Property I LP (AT&T, Inc.)
• Original Assignee: AT&T Intellectual Property I LP (AT&T, Inc.)
• Inventors: MCKAY, Jerry, Baptiste, Sally, Richie, Steve, Willmeno, Aimee
• Application Number:
  US12/641,815
• Publication Number:
  US 20110153478A1
• Time in Patent Office: Days
• US Class Current: 705/34
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data

Abstract

A settlement device for optimizing a transaction includes an input module, a processor, and an output module. The input module receives transaction data of the transaction. The processor determines an optimal location to process the transaction as a function of predetermined rules. The output module transmits the transaction data to the optimal location.

Claims

1. A settlement device, comprising:

an input module receiving transaction data of a transaction;

a processor determining an optimal location to process the transaction as a function of predetermined rules; and

an output module transmitting the transaction data to the optimal location.

2. The settlement device of claim 1, wherein the transaction data is received from a payment receiving device.

3. The settlement device of claim 2, wherein the payment receiving device relates to a type of the transaction being one of reading a magnetic strip, receiving a radio frequency identification (RFID), a recurring transaction, an eCommerce transaction, and a Card Not Present transaction.

4. The settlement device of claim 2, wherein the payment receiving device receives part of the transaction data from one of a credit card, a debit card, and a smart card.

5. The settlement device of claim 1, wherein the transaction data includes at least one of a billing party, a division of the billing party, a cost center indicator, a customer type, a card type, and a card issuer.

6. The settlement device of claim 1, wherein the predetermined rules relate to at least one of an issuing bank, a presence of a card, a recurring transaction, a consumer, a business, and a type of card.

7. The settlement device of claim 1, wherein the processor marks the transaction with a proprietary identification that is encoded with a specific cost center.

8. The settlement device of claim 7, wherein the proprietary identification is replaced with a merchant identification prior to the transmitting.

9. The settlement device of claim 1, wherein the optimal location authenticates the transaction.

10. The settlement device of claim 9, wherein the input module further receives a result of the authenticating.

11. A method, comprising:

receiving transaction data of a transaction;

determining an optimal location to process the transaction as a function of predetermined rules; and

transmitting the transaction data to the optimal location.

12. The method of claim 11, wherein the transaction data is received from a payment receiving device.

13. The method of claim 12, wherein the payment receiving device relates to a type of the transaction being one of reading a magnetic strip, receiving a radio frequency identification (RFID), a recurring transaction, an eCommerce transaction, and a Card Not Present transaction.

14. The method of claim 12, wherein the payment receiving device receives part of the transaction data from one of a credit card, a debit card, and a smart card.

15. The method of claim 11, wherein the transaction data includes at least one of a billing party, a division of the billing party, a cost center indicator, a customer type, a card type, and a card issuer.

16. The method of claim 11, wherein the predetermined rules relate to at least one of an issuing bank, a presence of a card, a recurring transaction, a consumer, a business, and a type of card.

17. The method of claim 11, further comprising:

marking the transaction with a proprietary identification that is encoded with a specific cost center.

18. The method of claim 17, further comprising:

replacing the proprietary identification with a merchant identification prior to the transmitting.

19. The method of claim 11, wherein the optimal location authenticates the transaction.

20. A settlement device, comprising:

a receiving means for receiving transaction data of a transaction;

a determining means for determining an optimal location to process the transaction as a function of predetermined rules; and

a transmitting means for transmitting the transaction data to the optimal location.