System and method of electronic data transaction processing

• US 8,041,633 B2
• Filed: 02/21/2003
• Issued: 10/18/2011
• Est. Priority Date: 02/21/2003
• Status: Expired due to Fees

• Current Assignee: Mtrex Incorporated
• Original Assignee: Mtrex Incorporated
• Inventors: Matthews, David J., Emig, Joseph B., Burke, Jeffrey R., Knowles, W. Jeffrey, Day, Russell Hales, Okolowitz, A. Carlo, Wessman, Scott E.
• Primary Examiner(s): Kazimi; Hani M
• Application Number:
  US10/370,676
• Publication Number:
  US 20040167851A1
• Time in Patent Office: 3,161 Days
• Field of Search: 705 39- 42, 705/35, 705/37, 705/38, 709/240
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A transaction process system (10) provides for data transactions between parties. In a credit card transaction, the parties are the merchant (20), acquiring bank (24), card association (34), issuing bank (14), and cardholder (12). A transaction processing center (30) is positioned between the acquiring bank and the card association. The transaction processing center provides data processing channels for message-based processing (72) and filed-based processing (76). The file-based processing uses an incoming queue (80) and outgoing queue (84) to simplify the interface. The transaction processing center also provides for currency conversions and account reconciliation on a per transaction basis. The transaction processing center uses a scheduler (160) to efficiently manage the data processing resources.

Claims

1. A system for processing financial transactions between first and second parties, comprising:

a first financial institution having an electronic communication link for providing access to a credit instrument for the first party;

a second financial institution having an electronic communication link for acquiring transactions from the second party;

an association having an electronic communication link to the first financial institution for providing data processing services; and

a transaction processing center operating with electronic communication links between the second financial institution and the association, wherein the transaction processing center includes;

(a) a data separation processor receiving and separating the transactions into high-throughput purchase transactions and low-throughput batch transactions, the data separation processor separating the high-throughput purchase transactions from the low-throughput batch transactions by message content or file attribute associated with the high-throughput purchase transactions and the low-throughput batch transactions, the data separation processor further formatting the high-throughput purchase transactions and the low-throughput batch transactions for transmission through the transaction processing center,

(b) a first data processing channel coupled to a first output of the data separation processor and dedicated to transmitting the high-throughput purchase transactions within the system, the first data processing channel being continuously open and active for high-throughput processing, and

(c) a second data processing channel, separate from the first data processing channel, coupled to a second output of the data separation processor and dedicated to transmitting the low-throughput batch transactions within the system with a lower system priority than the high-throughput purchase transactions, the second data processing channel including an incoming queue for receiving the low-throughput batch transactions, a data processor for reading the low-throughput batch transactions from the incoming queue and placing the low-throughput batch transactions in local storage, and an outgoing queue for receiving the low-throughput batch transactions from the local storage and transmitting the low-throughput batch transactions through the second output of the data separation processor.

2. The system of claim 1 further including a data storage device for storing the high-throughput purchase transactions and the low-throughput batch transactions.

3. The system of claim 2 wherein one of the high-throughput purchase transactions is an authorization request.

4. The system of claim 3 wherein the first data processing channel includes:

a first authorization process receiving the authorization request and routing the processed authorization request to the data storage device; and

a second authorization process receiving the processed authorization request from the data storage device and routing the processed authorization request to an output of the system.

5. The system of claim 2 wherein one of the low-throughput batch transactions is a clearing and settlement transaction.

6. The system of claim 5 wherein the second data processing channel includes:

a clearing process receiving the clearing and settlement transaction and routing the processed clearing and settlement transaction to the data storage device; and

a settlement process receiving the processed clearing and settlement transaction from the data storage device and routing the processed clearing and settlement transaction to an output of the system.

7. A credit card processing system, comprising a data processing center having a communication link with a merchant to receive credit card transactions initiated by the merchant, wherein the data processing center includes:

(a) a data separation processor receiving and separating the credit card transactions into high-throughput purchase transactions and low-throughput batch transactions by message content or file attribute associated with the high-throughput purchase transactions and the low-throughput batch transactions;

(b) a first data processing channel coupled to a first output of the data separation processor for transmitting the high-throughput purchase transactions within the credit card processing system, the first data processing channel being continuously open and active for high-throughput processing; and

(c) a second data processing channel, separate from the first data processing channel, coupled to a second output of the data separation processor for transmitting the low-throughput batch transactions within the system with a lower system priority than the high-throughput purchase transactions, the second data processing channel including an incoming queue for receiving the low-throughput batch transactions, a data processor for reading the low-throughput batch transactions from the incoming queue and placing the low-throughput batch transactions in local storage, and an outgoing queue for receiving the low-throughput batch transactions from the local storage and transmitting the low-throughput batch transactions through the second output of the data separation processor.

8. The credit card processing system of claim 7 further including a data storage device for storing the high-throughput purchase transactions and the low-throughput batch transactions.

9. The credit card processing system of claim 8 wherein one of the high-throughput purchase transactions is an authorization request.

10. The credit card processing system of claim 9 wherein the first data processing channel includes:

a first authorization process receiving the authorization request and routing the processed authorization request to the data storage device; and

a second authorization process receiving the processed authorization request from the data storage device and routing the processed authorization request to an output of the system.

11. The credit card processing system of claim 8 wherein one of the low-throughput batch transactions is a clearing and settlement transaction.

12. The credit card processing system of claim 11 wherein the second data processing channel includes:

a clearing process receiving the clearing and settlement transaction and routing the processed clearing and settlement transaction to the data storage device; and

a settlement process receiving the processed clearing and settlement transaction from the data storage device and routing the processed clearing and settlement transaction to an output of the system.

13. A method of processing a data transaction, comprising:

receiving high-throughput transactions and low-throughput transactions;

selectively routing the high-throughput transactions through a first data processing channel by analyzing message content or file attribute associated with the high-throughput purchase transactions, the first data processing channel being continuously open and active for high-throughput processing;

selectively routing the low-throughput transactions through a second data processing channel with a lower priority than the high-throughput transaction by analyzing message content or file attribute associated with the low-throughput purchase transactions, the second data processing channel being separate from the first data processing channel; and

locally storing the low-throughput transactions in a data storage device within the second data processing channel.

14. The method of claim 13 wherein one of the high-throughput transactions is an authorization request.

15. The method of claim 14 wherein the step of providing a first data processing channel includes:

providing a first authorization process for receiving the authorization request and routing the processed authorization request to the data storage device; and

providing a second authorization process for receiving the processed authorization request from the data storage device and routing the processed authorization request to an output of the system.

16. The method of claim 13 wherein one of the low-throughput transactions is a clearing and settlement transaction.

17. The method of claim 16 wherein the step of providing a second data processing channel includes:

providing a clearing process for receiving the clearing and settlement transaction and routing the processed clearing and settlement transaction to the data storage device; and

providing a settlement process for receiving the processed clearing and settlement transaction from the data storage device and routing the processed clearing and settlement transaction to an output of the system.

18. The method of claim 13 wherein the data transaction is a credit card transaction.