Real time account update

• US 7,904,389 B2
• Filed: 05/30/2007
• Issued: 03/08/2011
• Est. Priority Date: 05/30/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: DiGioacchino, Laura
• Primary Examiner(s): Apple; Kirsten S
• Assistant Examiner(s): GREGG, MARY M
• Application Number:
  US11/755,670
• Publication Number:
  US 20080301050A1
• Time in Patent Office: 1,378 Days
• Field of Search: None
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method is used in a system that includes a financial service provider coordinating accounts issued by an issuer to cardholders requesting credit from merchants. Each merchant has an acquirer with whom the financial service provider also coordinates the accounts. The method can be performed by a merchant sending a transmission to its acquirer including a request for a transaction against one account to which the merchant receives a denial or prior to receiving such a denial. The merchant then requests information from the financial service provider who responds by sending the requested information, upon which the merchant determines whether to extend the credit. When the method is performed by a financial service provider, in response to the denial received by one merchant or prior to such denial, the financial service provider receives a transmission from the merchant including a request for information about the account. In response, the financial service provider sends the merchant the requested information.

Claims

1. A method comprising the steps of:

electronically receiving, at a transaction handler processor, information about each of a plurality of accounts each being issued by a corresponding issuer;

electronically transmitting, from the transaction handler processor, the information about the each of the plurality of accounts for delivery to and storage by a merchant for transactions to be conducted in the future with the merchant;

and

processing one said transaction in real time including;

electronically receiving, at the transaction handler processor from an acquirer computer, a first authorization request submitted by the merchant to the acquirer computer for one said transaction conducted with the merchant on one said account, wherein the first authorization request includes a portion of the information about the one said account that was stored by the merchant;

electronically transmitting, from the transaction handler processor, the first authorization request to a corresponding said issuer;

electronically receiving, at the transaction handler processor, a denial in response to the electronically transmitted first authorization request;

electronically transmitting, from the transaction handler processor, the denial to the acquirer computer for delivery to the merchant;

electronically receiving, at the transaction handler processor, an account information update request from the merchant for updated information about the one said account;

electronically transmitting, from a database of account records associated with the transaction handler processor, the updated information about the one said account for delivery to the merchant;

electronically receiving, at the transaction handler processor from the acquirer computer, a second authorization request submitted by the merchant to the acquirer computer for the one said transaction conducted on the one said account, wherein the second authorization request includes a portion of the updated information about the one said account;

electronically transmitting, from the transaction handler processor, the second authorization request to the corresponding said issuer;

electronically receiving, at the transaction handler processor, an authorization approval in response to the second authorization request;

and

electronically transmitting, from the transaction handler processor, the authorization approval to the acquirer computer for delivery to the merchant.

2. The method as defined in claim 1, wherein the updated information about the one said account for delivery to the merchant is sufficient for the one said merchant to query against a predetermined criteria to determine whether to authorize the one said transaction.

3. The method as defined in claim 1, wherein a difference, for the one said account, between data in the first and second authorization requests is selected from the group consisting of:

an address information change;

an expiration date information change;

a name information change for a holder of the one said account;

an account number information change of the one said account; and

a credit limit information change.

4. The method as defined in claim 1, wherein:

the one said account is one of a plurality of said accounts respectively held by corresponding account holders in a financial transaction system;

a plurality of said issuers issue respective said accounts to the corresponding account holders;

a plurality of said merchants receive requests for authorizations upon respective said accounts for other corresponding said transactions by corresponding said account holders;

a plurality of said acquirer computers receive, from respective said merchants, requests for authorizations for the other corresponding said transactions;

the plurality of said acquirer computers communicate with issuer computers of the corresponding issuers via the transaction handler processor to determine whether to authorize or deny each said requested authorization upon the accounts of respective said account holders; and

the method further comprises the steps of;

electronically coordinating, at the transaction handler processor, each said account for each said account holder with the corresponding said issuers, the merchants, and each acquirer associated with said acquire computer; and

electronically receiving, at the transaction handler processor, the updated account information from the corresponding said issuers about the respective account holders to which the corresponding issuers issued the respective said accounts.

5. The method as defined in claim 1, further comprising the step of prior to said real time steps, electronically receiving, at the transaction handler processor, the updated information for the plurality of accounts.

6. The method as defined in claim 1, wherein the transaction handler processor electronically receives the account update request on demand of the merchant as a response to the transaction handler processor transmitting the denial.

7. A computer readable medium comprising instructions which, when executed by a computing device, performs the steps executed by the transaction handler processor of claim 1.

8. A method for conducting an extemporaneous card-present transaction in real time, the method comprising:

electronically receiving in the real time, at a transaction handler processor from an acquirer computer, a first authorization request for the card-present transaction being conducted extemporaneously with a merchant on an account, wherein the first authorization request includes data for the account that was previously transmitted by the transaction handler processor in a batch operation and as a portion of information for a plurality of said accounts for delivery to and storage by the merchant;

electronically transmitting in the real time, from the transaction handler processor, the first authorization request for delivery to a corresponding issuer of the account;

electronically receiving in the real time, at the transaction handler processor, a denial from the issuer in response to the electronically transmitted first authorization request;

electronically transmitting in the real time, from the transaction handler processor, the denial to the acquirer computer for delivery to the merchant;

electronically receiving in the real time, at the transaction handler processor, an account information update request from the merchant for updated information about the account;

electronically transmitting in the real time as an automated response to the request, from a database of account records associated with the transaction handler processor, the updated information about the account for delivery to and storage by the merchant;

electronically receiving in the real time, at the transaction handler processor from the acquirer computer, a second authorization request submitted by the merchant to the acquirer computer for the transaction conducted with the merchant on the account, wherein the second authorization request includes a portion of the updated information about the account;

electronically transmitting in the real time, from the transaction handler processor, the second authorization request for delivery to the corresponding issuer of the account;

electronically receiving in the real time, at the transaction handler processor, an authorization approval in response to the second authorization request;

and

electronically transmitting in the real time, from the transaction handler processor, the authorization approval to the acquirer computer for delivery to the merchant.

9. The method as defined in claim 8, wherein:

the account is issued by the corresponding issuer to a corresponding account holder;

and

each of the first and second authorization requests comprises a request to extend credit upon the account.

10. The method as defined in claim 9, wherein the updated information about the account for delivery to and storage by the merchant is sufficient for the one said merchant to query against a predetermined criteria to determine whether to extend the credit for the transaction in response to the account holder who is requesting credit upon the account holder'"'"'s account from the merchant.

11. The method as defined in claim 8, wherein:

the account is one of a plurality of said accounts respectively held by corresponding account holders in a payment processing system;

a plurality of said issuers issue respective said accounts to the corresponding account holders;

a plurality of said merchants receive requests for authorizations upon respective said accounts for other said transactions by corresponding said account holders;

a plurality of said acquirer computers receive, from respective said merchants, requests for authorizations for the other corresponding said transactions;

the plurality of said acquirers computers communicate with issuer computers of the corresponding issuers via the transaction handler processor to determine whether to authorize or deny each said requested authorization upon-the accounts of respective said account holders; and

the method further comprises;

electronically coordinating, at the transaction handler processor, each said account for each said account holder with the corresponding issuers, the merchants, and each acquirer associated with said acquirer computer; and

electronically receiving, at the transaction handler processor, the updated account information from the corresponding said issuers about the respective account holders to which the corresponding said issuers issued respective said accounts.

12. A computer readable medium comprising instructions which, when executed by the transaction handler processor, performs each of the electronically transmitting, and the electronically receiving instructions executed by the transaction handler processor of claim 8.

13. A merchant computer implemented method for conducting a transaction in real time, the method comprising:

electronically receiving, in real time at a merchant computer executing code, an initial denial of a first authorization request for a transaction upon an account wherein the first authorization request includes information about the account previously stored by the merchant computer in an electronic batch operation storing other such information for other said accounts;

subsequent to said electronically receiving the initial denial, electronically receiving, in real time at the merchant computer executing code, an automated updated account information about the account from a database of account records associated with a transaction handler processor;

subsequent to said receiving of the updated account information, submitting, in real time at the merchant computer executing code, a second authorization request for the transaction, wherein the second authorization request includes the updated account information; and

subsequent to said submitting of the second authorization request, receiving, in real time at the merchant computer executing code, an approval of the second said authorization request for the transaction.

14. The method as defined in claim 13, wherein:

the account was issued by an issuer to an account holder;

and

each of the first and second authorization requests comprises a request to extend credit upon the account of the account holder.

15. The method as defined in claim 13, wherein the information about the account previously stored by the merchant computer in the electronic batch operation was previously received from the transaction handler processor for the merchant'"'"'s acquirer via an interactive user interface.

16. The method as defined in claim 13, wherein a difference, for the account, between data in the first and second authorization requests is selected from the group consisting of:

an address information change;

an expiration date information change;

a name information change for a holder of the account;

an account number information change of the account; and

a credit limit information change.

17. The method as defined in claim 13, further comprising the merchant computer executing code to submit a clearing and settling request to the transaction handler processor for the transaction upon the account.

18. The method as defined in claim 13, wherein the account is one of a plurality of said accounts respectively held by account holders in a financial transaction system in which:

a plurality of issuers issue respective said accounts to respective said account holders;

a plurality of said merchant computers receive requests for authorizations upon respective said accounts for other said transactions by corresponding said account holders;

a plurality of acquirer computers receive from respective said merchant computers said requests for authorizations for the other corresponding said transactions;

the plurality of said acquirer computers communicate with the corresponding issuers computers of the corresponding said issuers via the transaction handler processor to determine whether to authorize or deny each said requested authorization upon the accounts of respective said account holders;

a transaction handler processor coordinates each said account for each said account holder with issuer computers of the corresponding issuers, the merchant computers, and with each said acquirer computer; and

the transaction handler processor electronically receives the updated account information from the corresponding said issuer computers about the respective account holders to which the corresponding said issuers issued respective said accounts.

19. A computer readable medium comprising instructions which, when executed by the merchant computer, performs the method of claim 13.