Prepaid negative balance fee processing and fee diversion
First Claim
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1. An apparatus for negative balance processing of a prepaid card, comprising:
- a database for storing data related to a prepaid card account, anda processing engine for determining that sufficient funds are available in the account for a transaction amount associated with a transaction but that sufficient funds are not available in the account for the transaction amount plus an associated fee, and selectively determining whether the transaction is allowed, disallowed, allowed with a partial fee or allowed with a fee diverted, the processing engine in communications with the database.
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Abstract
Systems and methods are provided for a prepaid credit card processing system wherein components or entities such as the acquirer, issuer, or prepaid card processing network can dynamically determine, at the time of the transaction, whether a credit card transaction will be allowed—even where the fee associated with the transaction would cause the balance to fall below zero.
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Citations
11 Claims
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1. An apparatus for negative balance processing of a prepaid card, comprising:
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a database for storing data related to a prepaid card account, and a processing engine for determining that sufficient funds are available in the account for a transaction amount associated with a transaction but that sufficient funds are not available in the account for the transaction amount plus an associated fee, and selectively determining whether the transaction is allowed, disallowed, allowed with a partial fee or allowed with a fee diverted, the processing engine in communications with the database. - View Dependent Claims (2, 3, 4)
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5. A method for processing a prepaid card, comprising:
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receiving transaction data from a transaction event associated with the prepaid card; determining, using a processor operatively connected with a memory, that sufficient funds are available in a prepaid card account for a transaction amount associated with the transaction event but that sufficient funds are not available in the account for the transaction amount plus a fee associated with the transaction event; and performing further processing based on the determination. - View Dependent Claims (6, 7, 8, 9, 10, 11)
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Specification