VIRTUAL WALLET ACCOUNT WITH AUTOMATIC-LOADING
First Claim
1. A method comprising:
- receiving, by a virtual wallet server from an originating payment service provider (PSP), a peer to peer purchase authorization request that comprises a virtual wallet account number of a consumer and purchase transaction details;
mapping, by the virtual wallet server, the virtual wallet account number to at least one funding account associated with the consumer;
validating, by the virtual wallet server, the consumer;
applying issuer-defined business rules to the purchase transaction details;
determining that the issuer-defined rules are satisfied;
generating a standard purchase authorization request message containing the purchase transaction details and routing the standard purchase authorization request message to a first payment network authorization system for routing to at least one issuer of the at least one funding account;
receiving, at the virtual wallet server acting as an original acquirer proxy, an authorization response from the first payment network authorization system approving the payment transaction;
loading, by the virtual wallet server, the consumer'"'"'s virtual wallet account in real time to match the payment amount; and
transmitting, by the virtual wallet server to a second payment authorization network, the payment authorization response for routing to a receiving financial institution.
1 Assignment
0 Petitions
Accused Products
Abstract
Methods and apparatus for operating a virtual wallet system to improve the operation of decoupled debit payment account schemes are described. In an embodiment, the process includes a virtual wallet server receiving a peer to peer purchase authorization request from an originating payment service provider (PSP). The virtual wallet server maps the virtual wallet account number to a consumer funding account, validates the consumer, applies issuer-defined business rules to the purchase transaction details, determines that the issuer-defined rules are satisfied, and generates and routes a standard purchase authorization request message to a first payment network authorization system for routing to an issuer of the funding account. The process also includes the virtual wallet server acting as an original acquirer proxy and receiving an authorization response approving the payment transaction, loading the consumer'"'"'s virtual wallet account in real time to match the payment amount, and transmitting the payment authorization response to a second payment authorization network for routing to a receiving financial institution.
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Citations
12 Claims
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1. A method comprising:
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receiving, by a virtual wallet server from an originating payment service provider (PSP), a peer to peer purchase authorization request that comprises a virtual wallet account number of a consumer and purchase transaction details; mapping, by the virtual wallet server, the virtual wallet account number to at least one funding account associated with the consumer; validating, by the virtual wallet server, the consumer; applying issuer-defined business rules to the purchase transaction details; determining that the issuer-defined rules are satisfied; generating a standard purchase authorization request message containing the purchase transaction details and routing the standard purchase authorization request message to a first payment network authorization system for routing to at least one issuer of the at least one funding account; receiving, at the virtual wallet server acting as an original acquirer proxy, an authorization response from the first payment network authorization system approving the payment transaction; loading, by the virtual wallet server, the consumer'"'"'s virtual wallet account in real time to match the payment amount; and transmitting, by the virtual wallet server to a second payment authorization network, the payment authorization response for routing to a receiving financial institution. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A non-transitory computer readable medium storing instructions for controlling a processor, the instructions configured to cause the processor to:
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receive from an originating payment service provider (PSP), a peer to peer purchase authorization request that comprises a virtual wallet account number of a consumer and purchase transaction details; map the virtual wallet account number to at least one funding account associated with the consumer; validate the consumer; apply issuer-defined business rules to the purchase transaction details; determine that the issuer-defined rules are satisfied; generate a standard purchase authorization request message containing the purchase transaction details and route the standard purchase authorization request message to a first payment network authorization system for routing to at least one issuer of the at least one funding account; receive an authorization response from the first payment network authorization system approving the payment transaction; load the consumer'"'"'s virtual wallet account in real time to match the payment amount; and transmit by the virtual wallet server to a second payment authorization network, the payment authorization response for routing to a receiving financial institution. - View Dependent Claims (9, 10, 11, 12)
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Specification