GUARANTEED MERCHANT PAYMENT IN A CARD-NOT-PRESENT TRANSACTION

• US 20110191162A1
• Filed: 01/25/2011
• Published: 08/04/2011
• Est. Priority Date: 01/29/2010
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Upton, Michael W., Blackhurst, Jason
• Granted Patent: US 8,442,894 B2
• Time in Patent Office: Days
• US Class Current: 705/14.39
• 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 30/0239 Online discounts or incentives

Abstract

Embodiments of the invention provide for systems, devices, apparatus, methods and computer program products for payment card-issuing entities to guarantee merchant payment in card-not-present-transactions and, more specifically, automatically guaranteeing merchant payment in card-not-present transactions based on the payment card-issuing entity authenticating the customer prior to the transactions. By guaranteeing merchant payment in card-not-present transactions, the merchant'"'"'s risk associated with such transaction is greatly reduced.

Claims

1. A method for providing guaranteed merchant payment for a card-not-present transaction, the method comprising:

determining, via a computing device processor, authentication of a customer associated with a payment card;

receiving, at a computing device, notification of a first card-not-present transaction conducted between the customer, using the payment card, and a first merchant; and

indicating, via a computing device processor, in a first transaction record that the first merchant is guaranteed payment, for the first card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.

2. The method of claim 1, wherein determining authentication further comprises determining, via the computing device processor, authentication of the customer on behalf of an entity issuing the payment card.

3. The method of claim 1, wherein determining authentication further comprises verifying, via a computing device processor, a customer name and customer password.

4. The method of claim 1, wherein determining authentication further comprises verifying, via a computing processor, a cookie stored on a computing device associated with the customer.

5. The method of claim 1, further comprising providing, via computing device processor, the guaranteed payment to the first merchant within a predetermined period of time.

6. The method of claim 1, further comprising providing, via a computing device, one or more offers, associated with the first merchant, to the customer.

7. The method of claim 6, wherein receiving further comprises receiving, at the computing device, the notification of the first card-not-present transaction, wherein the first card-not-present transaction is based on customer acceptance of at least one of the one or more offers.

8. The method of claim 6, wherein determining authentication further comprises determining, via the computing device processor, authentication of the customer prior to providing the one or more offers to the customer.

9. The method of claim 8, wherein providing the one or more offers further comprises determining, via a computing device, customer-specific offers based on the authentication of the customer.

10. The method of claim 1, further comprising:

receiving, at a computing device, notification of a second card-not-present transaction associated with the payment card and conducted between the customer and a second merchant; and

indicating, via a computing device processor, in a second transaction record that the second merchant is guaranteed payment, for the card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.

11. An apparatus for providing guaranteeing merchant payment in a card-not-present transaction, the apparatus comprising:

a computing platform including at least one processor and a memory;

an authentication routine stored in the memory executable by the processor and configured to determine authentication of a customer associated with a payment card;

a merchant payment routine stored in the memory executable by the processor and configured to receive notification of a first card-not-present transaction conducted between the customer, using the payment card, and a first merchant, and indicate in a first transaction record that the first merchant is guaranteed payment, for the card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.

12. The apparatus of claim 11, wherein the authentication routine is further configured to determine authentication of the customer on behalf of an entity issuing the payment card.

13. The apparatus of claim 11, wherein the authentication routine is further configured to verify a customer name and customer password.

14. The apparatus of claim 11, wherein the authentication routine is further configured to verify a cookie stored on a computing device associated with the customer.

15. The apparatus of claim 11, wherein the merchant payment routine is further configured to provide the guaranteed payment to the first merchant within a predetermined period of time.

16. The apparatus of claim 11, further comprising a merchant offer routine stored in the memory, executable by the processor and configured to provide one or more offers, associated with the first merchant, to the customer.

17. The apparatus of claim 16, wherein the merchant payment routine is further configured to receive the notification of the first card-not-present transaction, wherein the first card-not-present transaction is based on customer acceptance of at least one of the one or more offers.

18. The apparatus of claim 16, wherein the authentication routine is further configured to determine authentication of the customer prior to providing the one or more offers to the customer.

19. The apparatus of claim 18, wherein the merchant offer routine is further configured to determine customer-specific offers based on the authentication of the customer and provide the customer-specific offers, associated with the first merchant, to the customer.

20. The apparatus of claim 11, wherein the merchant payment routine is further configured to receive notification of a second card-not-present transaction associated with the payment card and conducted between the customer and a second merchant, and indicate in a second transaction record that the second merchant is guaranteed payment, for the card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.

21. A computer program product comprising:

a non-transitory computer-readable medium comprising;

a first set of codes for causing a computer to determine authentication of a customer associated with a payment card;

a second set of codes for causing a computer to receive notification of a first card-not-present transaction conducted between the customer, using the payment card, and a first merchant; and

a third set of codes for causing a computer to indicate in a first transaction record that the first merchant is guaranteed payment, for the card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.

22. The computer program product of claim 21, wherein the first set of codes is further configured to cause the computer to determine authentication of the customer on behalf of an entity issuing the payment card.

23. The computer program product of claim 21, wherein the first set of codes is further configured to cause the computer to verify a customer name and customer password.

24. The computer program product of claim 21, wherein the first set of codes is further configured to cause the computer to verify a cookie stored on a computing device associated with the customer.

25. The computer program product of claim 21, further comprising a fourth set of codes for causing a computer to provide the guaranteed payment to the first merchant within a predetermined period of time.

26. The computer program product of claim 21, further comprising a fourth set of codes for causing a computer to provide one or more offers, associated with the first merchant, to the customer.

27. The computer program product of claim 26, wherein the second set of codes is further configured to cause the computer to receive the notification of the first card-not-present transaction, wherein the first card-not-present transaction is based on customer acceptance of at least one of the one or more offers.

28. The computer program product of claim 26, wherein the first set of codes is further configured to cause the computer to determine authentication of the customer prior to providing the one or more offers to the customer.

29. The computer program product of claim 28, wherein the fourth set of codes is further configured to cause the computer to determine customer-specific offers based on the authentication of the customer and provide the customer-specific offers, associated with the first merchant, to the customer.

30. The computer program product of claim 21, wherein the second set of codes is further configured to receive notification of a second card-not-present transaction associated with the payment card and conducted between the customer and a second merchant, and the third set of codes is further configured to cause the computer to indicate in a second transaction record that the second merchant is guaranteed payment, for the card-not-present transaction, by an entity issuing the payment card based on the authentication of the customer.