TRANSACTION INFORMATION ROUTING

• US 20110238596A1
• Filed: 03/26/2010
• Published: 09/29/2011
• Est. Priority Date: 03/26/2010
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Fellman, Herbert M., Whitler, Elbert L., Giordano, Joseph A.
• Application Number:
  US12/732,324
• Publication Number:
  US 20110238596A1
• Time in Patent Office: Days
• US Class Current: 705/400
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Apparatus and methods for routing transaction information. The apparatus and methods may involve using receiving the transaction information; retrieving from computer readable memory: (a) a transaction information routing rule; and (b) transaction service provider information; and formulating routing information based on the transaction information, the transaction service provider information and the routing rule. The apparatus and methods may identify prospective recipients, among participants in a transaction, for receipt of the transaction information.

Claims

1. Apparatus for routing transaction information, the apparatus comprising:

a receiver module configured to receive the transaction information;

computer readable memory configured to store;

a transaction information routing rule; and

transaction service provider information; and

a processor module configured to output routing information based on the transaction information, the transaction service provider information and the routing rule.

2. The apparatus of claim 1 wherein the processor module is further configured to:

identify from the transaction service provider information that an acquirer is an issuer; and

,

based on identification of the acquirer as an issuer, apply a routing rule that requires routing the transaction information within the acquirer from an acquiring function to an issuing function.

3. The apparatus of claim 1 wherein the processor module is further configured to:

identify from the transaction service provider information that an acquirer and an issuer are members of a lending consortium; and

,

based on identification of the acquirer and issuer as members of the consortium, apply a routing rule that requires routing the transaction information from the acquirer to the issuer while bypassing a transaction processing network.

4. The apparatus of claim 1 wherein, when the routing information is first routing information, the processor module is further configured to:

identify a preferred transaction participant;

identify a first net fee for the preferred transaction participant, the first net fee being associated with the first routing information;

identify a second net fee for the preferred transaction participant, the second net fee being associated with second routing information; and

select for output the first routing information based on a comparison of the first and second net fees.

5. The apparatus of claim 4 wherein the first and second net fees are based at least in part on interchange fees.

6. The apparatus of claim 4 wherein the first and second net fees are based at least in part on acceptance costs.

7. The apparatus of claim 4 wherein the first and second net fees are based at least in part on network fees.

8. One or more computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for routing transaction information, the method comprising:

receiving the transaction information;

retrieving from computer readable memory a transaction information routing rule;

retrieving from the computer readable memory transaction service provider information; and

formulating routing information based on the transaction information, the transaction service provider information and the routing rule.

9. The media of claim 8 wherein, in the method, the formulating comprises:

determining from the transaction service provider information that an acquirer is an issuer; and

,

based on the determining, applying a routing rule that requires routing the transaction information within the acquirer from an acquiring function to an issuing function.

10. The media of claim 8 wherein, in the method, the formulating comprises:

determining from the transaction service provider information that an acquirer and an issuer are members of a lending consortium; and

,

based on the determining, applying a routing rule that requires routing the transaction information from the acquirer to the issuer while bypassing a transaction processing network.

11. The media of claim 8 wherein, in the method, when the routing information is first routing information, the formulating comprises:

identifying a preferred transaction participant;

determining a first net fee for the preferred transaction participant, the first net fee being associated with the first routing information;

determining a second net fee for the preferred transaction participant, the second net fee being associated with second routing information; and

selecting for output the first routing information based on a comparison of the first and second net fees.

12. The media of claim 11 wherein, in the method:

the determining a first net fee is based at least in part on a first interchange fee; and

the determining a second net fee is based at least in part on a second interchange fee.

13. The media of claim 11 wherein, in the method:

the determining a first net fee is based at least in part on a first acquirer acceptance cost; and

the determining a second net fee is based at least in part on a second acquirer acceptance cost.

14. The media of claim 11 wherein, in the method:

the determining a first net fee is based at least in part on a first network fee; and

the determining a second net fee is based at least in part on a second network fee.

15. A method for routing transaction information, the method comprising:

using a receiver, receiving the transaction information;

using a database engine, retrieving from computer readable memory;

a transaction information routing rule; and

transaction service provider information; and

,

using a processing machine, formulating routing information based on the transaction information, the transaction service provider information and the routing rule.

16. The method of claim 15 wherein the formulating comprises:

determining from the transaction service provider information that an acquirer is an issuer; and

,

based on the determining, applying a routing rule that requires routing the transaction information within the acquirer from an acquiring function to an issuing function.

17. The method of claim 15 wherein the formulating comprises:

determining from the transaction service provider information that an acquirer and an issuer are members of a lending consortium; and

,

based on the determining, applying a routing rule that requires routing the transaction information from the acquirer to the issuer while bypassing a transaction processing network.

18. The media of claim 15 wherein, when the routing information is first routing information, the formulating comprises:

identifying a preferred transaction participant;

determining a first net fee for the preferred transaction participant, the first net fee being associated with the first routing information;

determining a second net fee for the preferred transaction participant, the second net fee being associated with second routing information; and

selecting for output the first routing information based on a comparison of the first and second net fees.

19. The method of claim 18 wherein:

the determining a first net fee is based at least in part on a first interchange fee; and

the determining a second net fee is based at least in part on a second interchange fee.

20. The method of claim 18 wherein:

the determining a first net fee is based at least in part on a first acquirer acceptance cost; and

the determining a second net fee is based at least in part on a second acquirer acceptance cost.

21. The method of claim 18 wherein:

the determining a first net fee is based at least in part on a first network fee; and

the determining a second net fee is based at least in part on a second network fee.