GUARANTEED MERCHANT PAYMENT IN A CARD-NOT-PRESENT TRANSACTION
First Claim
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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.
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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.
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Citations
30 Claims
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1. A method for providing guaranteed merchant payment for a card-not-present transaction, the method comprising:
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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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. An apparatus for providing guaranteeing merchant payment in a card-not-present transaction, the apparatus comprising:
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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. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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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. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30)
Specification