Systems and methods for the processing of financial transactions
First Claim
1. A method for processing a financial transaction to determine which terms and conditions to apply to the financial transaction, comprising:
- defining a plurality of balance segments, wherein the plurality of balance segments have a plurality of associated balance rules and terms and conditions, wherein the balance rules govern the allocation of the financial transaction to a particular balance segment;
selecting one or more of the balance segments to be associated with an account number;
receiving incoming transaction data from a transaction network, and analyzing the data with a transaction level processor;
locating a customer account through association with the account number identified in the transaction data, wherein a balance of the customer account is further separated into the plurality of balance segments;
inspecting a status field of each balance segment to determine if the associated balance rule is active or inactive;
determining if all balance segments have been checked;
receiving the applicable balance rule from a balance rule database;
analyzing whether the transaction data complies with limitations of the balance rule;
storing the transaction data in a masterfile under the applicable balance segment and balance rule; and
applying the terms and conditions associated with the balance segment.
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Accused Products
Abstract
Systems and methods for processing credit card transactions including an account with a multi-dimensional balance structure, wherein balance segments within the balance structure have individually-definable terms and conditions. A system receives incoming transaction data by way of a conventional transaction system. A transaction processor within the system uses predetermined balance rules to determine an appropriate balance segment within an associated masterfile, which stores data. The multi-dimensional balance structure allows financial institutions to provide customers with special promotions for transactions meeting predetermined requirements, such as transactions with particular merchants, Internet purchases, and automobile-related purchases.
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Citations
23 Claims
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1. A method for processing a financial transaction to determine which terms and conditions to apply to the financial transaction, comprising:
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defining a plurality of balance segments, wherein the plurality of balance segments have a plurality of associated balance rules and terms and conditions, wherein the balance rules govern the allocation of the financial transaction to a particular balance segment; selecting one or more of the balance segments to be associated with an account number; receiving incoming transaction data from a transaction network, and analyzing the data with a transaction level processor; locating a customer account through association with the account number identified in the transaction data, wherein a balance of the customer account is further separated into the plurality of balance segments; inspecting a status field of each balance segment to determine if the associated balance rule is active or inactive; determining if all balance segments have been checked; receiving the applicable balance rule from a balance rule database; analyzing whether the transaction data complies with limitations of the balance rule; storing the transaction data in a masterfile under the applicable balance segment and balance rule; and applying the terms and conditions associated with the balance segment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system for processing a financial transaction, comprising:
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a transaction level processor operable for analyzing an incoming transaction and allocating the transaction into one of a plurality of balance segments disposed within a masterfile associated with a customer account, the transaction level processor comprising; means for identifying the customer account using an account number; means for retrieving a plurality of balance rules from a balance rule database; means for analyzing transaction data using the balance rules associated with the customer account; and means for allocating all or a portion of the transaction to a particular balance segment associated with the applicable balance rule; and means for retrieving terms and conditions associated with a particular balance segment from a terms and conditions database; wherein a balance of the customer account is separated into the plurality of balance segments. - View Dependent Claims (10, 11, 12)
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13. A method for providing a customer account wherein a balance comprises a plurality of balance segments with different terms and conditions, the balance segments organized based on a type of financial transaction, the method comprising:
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providing a transaction level processor operable for receiving incoming transaction data; identifying a customer account associated with the transaction; accessing a plurality of predetermined balance rules associated with the customer account, wherein each balance rule is associated with a particular balance segment; comparing the transaction data with each balance rule; storing the transaction data in the appropriate balance segment in a masterfile upon satisfying the balance rule; and providing incentives associated with the balance segment to a customer for making the transaction. - View Dependent Claims (14, 15, 16, 17, 18)
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19. A method for processing a financial transaction, comprising:
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defining a plurality of balance segments, wherein the balance segments comprise a balance on a customer'"'"'s account; associating a plurality of balance rules with each balance segment, wherein the balance rules govern the allocation of the financial transaction to a particular balance segment; associating a plurality of terms and conditions with each balance segment; receiving incoming credit card transaction data from a credit card transaction network, wherein the transaction data includes an account number; selecting one or more of the balance segments to be associated with the account number; analyzing whether the transaction data complies with limitations of the balance rules of the applicable balance segment with a transaction level processor; storing the transaction data in a masterfile under the applicable balance segment; and providing incentives corresponding to the applicable balance segment and the associated terms and conditions to a customer making the transaction. - View Dependent Claims (20, 21, 22, 23)
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Specification