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SYSTEM AND METHOD FOR PROCESSING PAYMENT TRANSACTIONS

  • US 20120284187A1
  • Filed: 03/14/2012
  • Published: 11/08/2012
  • Est. Priority Date: 03/15/2011
  • Status: Abandoned Application
First Claim
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1. A method of processing a payment transaction, comprising:

  • performing, by an entity, an authentication process on payment account data for a payment account used to conduct the payment transaction by processing the payment account data to generate an indication of whether the payment account is a valid payment account;

    performing, by a payment processing network, a transaction processing operation by processing data regarding the payment transaction, the transaction processing operation being other than the authentication process to generate an indication of whether the payment account is a valid payment account that is performed by the entity, the payment processing network being operated by a payment processing organization that is different from the entity performing the authentication process; and

    providing the results of the processing by the entity and the processing by the payment processing network to an issuer to enable the issuer to approve or deny the payment transaction.

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