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VIRTUAL WALLET ACCOUNT WITH AUTOMATIC-LOADING

  • US 20130275300A1
  • Filed: 04/17/2013
  • Published: 10/17/2013
  • Est. Priority Date: 07/06/2010
  • Status: Abandoned Application
First Claim
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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.

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