SYSTEMS AND METHODS FOR ARBITRAGED ENHANCED PAYMENT PROCESSING

• US 20140040148A1
• Filed: 08/01/2013
• Published: 02/06/2014
• Est. Priority Date: 07/31/2012
• Status: Active Grant

• Current Assignee: Worldpay, LLC (Fidelity National Information Services Incorporated)
• Original Assignee: Mercury Payment Systems LLC (Fidelity National Information Services Incorporated)
• Inventors: Ozvat, Matthew D., Priest, Travis L., Plomske, Michelle K., Watts, Charles E., Nayfack, Nicholas G., Berkley, John, Bonestell, Robert, Ourada, Daniel, Oliver, Kevin
• Granted Patent: US 10,152,711 B2
• Time in Patent Office: Days
• US Class Current: 705/71
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

An arbitraged enhanced payment processing system in association with a distributed enhanced payment processing system includes a merchant point of sale (POS) terminal system and a remote payment management system. The POS terminal system initiates a transaction that includes receiving a payment amount, a purchaser account identifier, a virtual electronic payment indicator, and a merchant ID via a payment client. Subsequently, the POS terminal system outputs the transaction to the remote payment management system which generates a token for the transaction. The payment management system then provides the purchaser account identifier, a merchant account identifier, and the payment amount to a payment processing servicer. Upon receiving a payment processing servicer response, the payment management system outputs the response and token to the POS terminal system.

Claims

1. In a payment management system, useful in association with a distributed enhanced payment processing system, a method for arbitraging enhanced payments (AEP) comprising:

initiating a request for a payment transaction at a point of sale terminal system of a merchant, wherein the transaction includes receiving a payment amount from a purchaser;

continuing the transaction at the point of sale terminal system, wherein the payment transaction—

includes receiving a purchaser account identifier, a virtual electronic payment indicator, and a merchant ID via a payment client, and wherein the purchaser account identifier includes at least one of a primary account number, a unique purchaser alias and a purchaser biometric identifier;

outputting the payment transaction from the point of sale terminal system of the merchant;

receiving the payment transaction at a remote payment management system;

validating the merchant ID against merchant logs, wherein the validation ensures the merchant is configured for tokenization;

generating a token for the payment transaction, wherein the token includes the purchaser account identifier, an expiration, and a group ID;

retrieving at least one service control directive associated with the payment transaction;

arbitraging and directing the payment transaction for payment processing based on the at least one service control directive to an appropriate payment processing entity;

receiving a response from the payment processing entity; and

outputting the response and the token to the point of sale terminal system of the merchant.

2. The method of claim 1 wherein the payment processing entity is an affiliated-payment processing servicer.

3. The method of claim 1 wherein the payment processing entity is a third party payment processing entity.

4. The method of claim 1 wherein the at least one service control directive associated with the payment transaction is retrieved based on at least one transaction configuration information retrieved from a data base utilizing an at least one payment transaction processing configuration retrieval keys.

5. The method of claim 4 wherein the at least one service control directive includes at least one executable code.

6. The method of claim 4 wherein the at least one service control directive includes at least one actionable information.

7. The method of claim 4 wherein the at least one payment transaction processing configuration retrieval keys includes at least one payment transaction information.

8. The method of claim 7 wherein the at least one payment transaction information component is encrypted.

9. The method of claim 8 wherein at least one payment transaction information component is configured to be decrypted from an at least one token embedded in the payment transaction.

10. The method of claim 9 wherein the at least one token is configured to be decrypted by a security module configured to decrypt the payment transaction.

11. The method of claim 1 wherein arbitraging the payment transaction includes prioritizing the payment transaction.

12. The method of claim 11 wherein prioritizing corresponds to the at least one payment processing entities associated with the payment transaction by the payment processing configuration.

13. The method of claim 12 wherein prioritizing affects the directing of the payment transaction to the corresponding at least one payment processing entities such that the payment transaction is received by said at least one payment processing entities sooner than an at least one lower prioritized payment transaction destined for, but not yet output to, the same at least one payment processing entities.

14. The method of claim 1 wherein post-processing the payment transaction includes recording at least one portion-of the payment transaction in a data base for subsequent utilization for merchant accounting.

15. The method of claim 14 wherein the recording of the payment transaction in a data base includes recording the purchaser account identifier.

16. The method of claim 14 wherein merchant accounting includes providing a given merchant an accounting of processed transactions.

17. The method of claim 14 wherein merchant accounting includes providing a given merchant an accounting of processed transactions including the purchaser account identifier associated with each payment transaction.

18. The method of claim 1 wherein receiving the payment transaction at a remote payment management system includes receiving at least one of payments transactions sourced from at least one of a merchant POS system.

19. The method of claim 1 wherein receiving the payment transaction at a remote payment management system includes receiving at least one of payments transactions received from at least one of an unaffiliated merchant POS system and aggregated by a remote independent sales organization (ISO) feeder system.

20. The method of claim 18 wherein an at least one merchant POS system containing a payment client is updated to enhance the at least one client payment transaction communication protocol so as to include new fields configured to arbitraged enhanced payment processing.