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ELECTRONIC PAYMENT PROCESSING USING ADJUSTED INTERCHANGE RATE

  • US 20200134609A1
  • Filed: 12/23/2019
  • Published: 04/30/2020
  • Est. Priority Date: 10/12/2011
  • Status: Active Grant
First Claim
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1. A method, comprising:

  • receiving, via a computing device including a payment portal, an encrypted payment message from a buyer relating to a transaction with a merchant;

    wherein the payment portal includes;

    a plurality of parsing algorithms including a first parsing algorithm and a second parsing algorithm;

    a plurality of interchange rate tables;

    parsing, in the computing device and using the first parsing algorithm, the encrypted payment message to obtain merchant identifying information;

    wherein the merchant identifying information is associated in the payment portal with the second parsing algorithm;

    parsing, in the computing device and using the second parsing algorithm, the encrypted payment message to obtain payment information defined by the transaction;

    selecting, via the payment portal and using the merchant identifying information and the payment information, a selected one of the interchange rate tables from the plurality of interchange rate tables;

    wherein the selected interchange rate table is associated in the payment portal with the merchant identifying information and the payment information;

    wherein at least one of the merchant identifying information or the payment information includes an interchange adjustment factor defined by the transaction; and

    determining, in the computing device and using the selected interchange rate table and the interchange adjustment factor, an adjusted interchange rate.

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