SYSTEMS AND METHODS FOR COST ALTERING PAYMENT SERVICES

• US 20140180924A1
• Filed: 12/19/2013
• Published: 06/26/2014
• 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., Berkley, John, Oliver, Kevin, Cooper, William T., Watts, Charles E., Cochran, Rachel B.
• Granted Patent: US 10,346,843 B2
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing

Abstract

Cost altering payment services (“CAPS”) system in association with a distributed enhanced payment (“DEP”) processing system includes a merchant point of sale (“POS”) terminal system and a remote enhanced payment management system (“EPMS”). The remote EPMS receives payment transactions including additional risk mitigating payment transaction (“RMPT”) information and based on that additional RMPT information provides altered transaction costs. The remote EPMS provides facilities for the merchant to review and revise payment management services so as to utilize additional RMPT information received from the merchant POS terminal system so as to alter transaction costs. Such facilities provide information to determine the relative potential transaction cost benefits of various payment management service sets utilizing cost profiles that represent the costs of archival, recorded and projected future transactions. The remote EPMS provides “transaction guidance” technology to be utilized by the merchant'"'"'s POS terminal system to facilitate prompting for and acquiring additional RMPT information.

Claims

1. In cost altering payment services system, a method for providing revisable transaction rates, the method comprising:

receiving additional risk mitigating payment transaction information; and

altering a payment transaction cost based on the additional received risk mitigating payment transaction information;

2. The method of claim 1, wherein the additional risk mitigating payment transaction information includes at least one of:

a purchaser primary credential;

a purchaser supplemental credential; and

a payment incidental qualifier.

3. The method of claim 2, wherein the purchaser primary credential includes information associated with a legitimate payment account user;

and wherein the legitimate payment account user is at least one of a payment account owner and an authorized payment account user.

4. The method of claim 2, wherein the purchaser supplemental credential includes information associated with a payment account owner.

5. The method of claim 2, wherein the payment incidental qualifier is circumstantial and includes at least one of:

purchase descriptive information;

payment descriptive information;

purchaser descriptive information; and

measurable and derivable purchase and payment coincidental information.

6. The method of claim 1, wherein altering the transaction cost is based on at least one of the quality of additional risk mitigating payment transaction information and the quality of additional risk mitigating payment transaction information.

7. The method of claim 1, wherein receiving additional risk mitigating payment transaction information is facilitated by an at least one transaction guidance that is utilized for at least one of:

prompting for risk mitigating payment transaction information;

inputting risk mitigating payment transaction information;

encoding risk mitigating payment transaction information; and

outputting risk mitigating payment transaction information;

and wherein a transaction guidance includes at least one of;

down-loadable risk mitigating payment transaction information acquisition technology; and

risk mitigating payment transaction information acquisition technology that is propagated out of band.

8. The method of claim 1, wherein altering a payment transaction cost is a payment management service included in a service set;

and wherein altering a payment transaction cost includes facilitating at least one reviewing, revising and updating the service set; and

wherein the service set is reviewed, revised or updated at least one of;

during merchant boarding; and

subsequent to merchant boarding.

9. The method of claim 8 wherein facilitating reviewing, revising and updating the service set includes providing at least one cost profile;

and wherein a cost profile is based on at least one of;

an individual payment transaction cost; and

a blend of at least two payment transaction costs;

and wherein the blend of at least two payment transaction costs includes at least one of;

an archival payment transaction cost;

a recorded payment transaction cost; and

a projected payment transaction cost.

10. The method of claim 9, wherein the cost profile is based on at least one cost index;

and wherein a cost index is based on at least one of;

at least one archival payment transaction cost of at least one other merchant; and

at least one recorded payment transaction cost of at least one other merchant; and

wherein the at least one cost index is an industry segment cost index based on at least one payment transaction cost of at least one other merchant with a business similar to the merchant.

11. The method of claim 9, wherein the projected payment transaction cost is based on at least one of:

a cost index;

a recorded payment transaction cost; and

an archival payment transaction cost.

12. The method of claim 9, wherein the cost profile is a projected cost profile;

and wherein the projected cost profile is based on at least one projected payment transaction cost.

13. The method of claim 9, wherein the cost profile corresponding to the service set is based on a virtual fee history;

wherein a virtual fee history is based on at least one of;

at least one virtual payment transaction cost derived by hypothetically applying the service set to an archival payment transaction of the merchant; and

at least one projected payment transaction cost.

14. The method of claim 8, wherein revising the service set includes facilitating the merchant selecting a contingent service set to become the service set;

and wherein a contingent service set includes one of adding, deleting and modifying at least one payment management service within the service set.

15. The method of claim 14, wherein facilitating the merchant selecting the contingent service set includes providing at least one projected cost profile corresponding to the contingent service set.

16. The method of claim 14, wherein facilitating the merchant selecting the contingent service set includes providing at least one comparative cost profile;

and wherein a comparative cost profile includes at least two of;

at least one cost profile of the service set;

at least one projected cost profile of the contingent service set; and

at least one industry segment cost index.

17. The method of claim 8, wherein facilitating updating a service set includes recording the contingent service set as the service.

18. The method of claim 1, wherein altering a payment transaction cost includes providing payment transaction cost information to the POS terminal system.

19. The method of claim 18, wherein the payment transaction cost information is included in at least one response to a payment transaction request.

20. The method of claim 19, wherein the at least one response to a payment transaction request includes at least one of:

payment transaction cost information specific to one payment transaction;

payment transaction cost information specific to the payment transaction corresponding to that response;

payment transaction cost information corresponding to at least one payment transaction other than the transaction corresponding to that response;

payment transaction cost information related to at least one other merchant; and

payment transaction cost information corresponding to at least two payment transactions.

21. The method of claim 20, wherein the payment transaction cost information included in the at least one response to a payment transaction request is utilized by a communication intermediary.

22. The method of claim 18, wherein the POS terminal system is facilitated by a distributed enhanced payment processing system to utilize the provided payment transaction cost information for at least one of:

recording the provided payment transaction cost information;

formulaically combining the provided payment transaction cost information with other payment transaction cost information;

analyzing the provided payment transaction cost information; and

displaying the provided payment transaction cost information.

23. The method of claim 1, wherein the risk mitigating information is utilized to mitigate risks associated with other payment transaction requests.

24. The method of claim 1, wherein altering a payment transaction cost is a payment management service automatically included in the service set.