METHOD AND APPARATUS FOR PROCESSING FINANCIAL TRANSACTIONS SUBJECT TO DIFFERENT FINANCING TERMS
First Claim
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1. A method comprising:
- determining, by a qualified financial transaction computer-based system, if a financial transaction is a qualified financial transaction for adjusted financing terms, based on an amount of the financial transaction, status of enrollment by a merchant and an enrollment status of a purchaser, wherein the purchaser uses a transaction account authorized by a transaction account provider; and
processing, by the computer-based system, a payment for the financial transaction from the transaction account provider to the merchant for a standard financial transaction and a qualified financial transaction, wherein the processing uses only one single network, and a same set of components within the only one single network.
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Abstract
A financial payment vehicle, such as a charge or credit card, provides lower financing terms on purchases that meet specified criteria (i.e. a minimum threshold transaction amount, a purchase from a particular industry or at particular merchants, and/or other enrollment qualifications) and further provides standard financing terms for purchases that do not meet the criteria.
54 Citations
20 Claims
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1. A method comprising:
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determining, by a qualified financial transaction computer-based system, if a financial transaction is a qualified financial transaction for adjusted financing terms, based on an amount of the financial transaction, status of enrollment by a merchant and an enrollment status of a purchaser, wherein the purchaser uses a transaction account authorized by a transaction account provider; and processing, by the computer-based system, a payment for the financial transaction from the transaction account provider to the merchant for a standard financial transaction and a qualified financial transaction, wherein the processing uses only one single network, and a same set of components within the only one single network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. A system comprising:
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a processor configured for processing a qualified financial transaction; a tangible, non-transitory memory configured to communicate with the processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations; a determination module in communication with the processor and configured to determine if a financial transaction is a qualified financial transaction for adjusted financing terms, based on an amount of the financial transaction, status of enrollment by a merchant and an enrollment status of a purchaser, wherein the purchaser uses a transaction account authorized by a transaction account provider; and processing, by the processor, a payment for the financial transaction from the transaction account provider to the merchant for a standard financial transaction and a qualified financial transaction, wherein the processing uses only one single network, and a same set of components within the only one single network.
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Specification