SYSTEMS AND METHODS FOR ARBITRAGED ENHANCED PAYMENT PROCESSING
First Claim
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.
8 Assignments
0 Petitions
Accused Products
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.
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Citations
20 Claims
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1. In a payment management system, useful in association with a distributed enhanced payment processing system, a method for arbitraging enhanced payments (AEP) comprising:
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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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification