Post-authorization message for a financial transaction

• US 8,214,292 B2
• Filed: 04/01/2009
• Issued: 07/03/2012
• Est. Priority Date: 04/01/2009
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Harris, Peter Georger, Hoyne Gomes, Kristin R., Duggal, Chanderpreet Singh
• Primary Examiner(s): Rosen, Elizabeth
• Assistant Examiner(s): Goodbody, Joan
• Application Number:
  US12/416,680
• Publication Number:
  US 20100257096A1
• Time in Patent Office: 1,189 Days
• Field of Search: 705/44
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 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

Abstract

Embodiments of the present invention provide a method and system for enabling a financial institution to communicate with a merchant regarding post-authorization processing of a financial transaction. The merchant assesses feasibility of the financial transaction after receiving an authorization from the financial institution for the financial transaction and accordingly processes the financial transaction based on the feasibility assessment. The processing of the financial transaction may either result in fulfillment or non-fulfillment of the financial transaction depending on the feasibility assessment. Finally, the merchant provides the financial institution details related to the processing of the financial institution in real-time following the authorization.

Claims

1. A method comprising:

dynamically determining, by a merchant computer system for sending a post-authorization message to a financial institution, a risk associated with executing a financial transaction in response to an authorization by the financial institution of the financial transaction, wherein the risk is based on at least one of;

a financial risk, a consumer history, a consumer track record, a stock limitation, and a purchase order delivery condition; and

generating, by the merchant computer system, the post-authorization message based upon the determining, wherein the post-authorization message includes information related to the risk associated with the executing the financial transaction.

2. The method according to claim 1, further comprising sending, by the merchant computer system, the post-authorization message to notify the financial institution that the financial transaction has not been fulfilled.

3. The method according to claim 1, further comprising sending, by the merchant computer system, the post-authorization message to notify the financial institution that the financial transaction has been fulfilled.

4. The method according to claim 1, further comprising receiving, by the merchant computer system, the authorization by way of a communication channel, and transmitting, by the merchant computer system, the post-authorization message by way of the communication channel.

5. The method according to claim 1, further comprising:

accumulating, by the merchant computer system, a plurality of post-authorization messages from a plurality of financial transactions; and

transmitting, by the merchant computer system, the accumulated post-authorization messages to the financial institution in a batch file.

6. A system comprising:

a merchant processor for sending a post-authorization message to a financial institution,

a tangible, non-transitory memory configured to communicate with the merchant processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the merchant processor, cause the merchant processor to perform operations comprising;

dynamically determining, by the merchant processor, a risk associated with executing a financial transaction in response to an authorization by the financial institution of the financial transaction, wherein the risk is based on at least one of;

a financial risk, a consumer history, a consumer track record, a stock limitation, and a purchase order delivery condition; and

generating, by the merchant processor, the post-authorization message based upon the determining, wherein the post-authorization message includes information related to the risk associated with the executing the financial transaction.

7. The system according to claim 6, further comprising sending, by the merchant processor, the post-authorization message to notify the financial institution that the financial transaction has not been fulfilled.

8. The system according to claim 6, further comprising sending, by the merchant processor, the post-authorization message to notify the financial institution that the financial transaction has been fulfilled.

9. The system according to claim 6, further comprising transmitting, by the merchant processor, a plurality of post-authorization messages in a batch file.

10. An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a merchant computer-based system for sending a post-authorization message to a financial institution, cause the merchant computer-based system to perform operations comprising:

dynamically determining, by the merchant computer system, a risk associated with executing a financial transaction in response to an authorization by the financial institution of the financial transaction, wherein the risk is based on at least one of;

a financial risk, a consumer history, a consumer track record, a stock limitation, and a purchase order delivery condition; and

generating, by the merchant computer system, the post-authorization message based upon the determining, wherein the post-authorization message includes information related to the risk associated with the executing the financial transaction.

11. The article according to claim 10, further comprising sending, by the merchant computer system, the post-authorization message to notify the financial institution that the financial transaction has not been fulfilled.

12. The article according to claim 10, further comprising sending, by the merchant computer system, the post-authorization message to notify the financial institution that the financial transaction has been fulfilled.

13. The article according to claim 10, further comprising transmitting, by the merchant computer system, a plurality of post-authorization messages in a batch file.