System and method for selection of payment systems from a payment system directory to process a transaction

• US 8,271,384 B2
• Filed: 11/18/2011
• Issued: 09/18/2012
• Est. Priority Date: 06/30/2003
• 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: Schwarz, Bill, Edelen, Jeffrey Alan, Bishop, Fred, Armes, David
• Primary Examiner(s): Cheung, Mary
• Application Number:
  US13/299,709
• Publication Number:
  US 20120066123A1
• Time in Patent Office: 305 Days
• Field of Search: 705/35, 705 39- 40, 705 42- 44, 705 75- 79, 725/5, 707/999, 715/210
• US Class Current: 705/40
• 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 20/40 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 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Dynamically enabling and facilitating businesses or other entities to locate and transact with payment systems for the purpose of processing payments. A customer interacts with a supplier of an item (e.g., goods or services), selects an item for purchase, and provides the supplier with payment criteria. The supplier queries a payment system directory to locate candidate payment systems for the transaction. The supplier then interacts directly with one or more of the payment systems to partially or fully process payment for the transaction. Alternatively, the supplier interacts with a gateway service, which queries a payment system directory to locate candidate payment systems and then interacts with one or more of the payment systems to process payment for the transaction.

Claims

1. A method, comprising:

querying, by a gateway for identifying a payment system, a directory of payment systems to locate payment systems to process a transaction based at least in part upon payment criteria; and

receiving, by the gateway, an identification of the located payment systems, along with rating information indicating an amount of matching between the located payment system and the payment criteria,

wherein the transaction is at least partially processed with one or more of the located payment systems.

2. The method of claim 1, wherein the gateway at least partially processes the transaction.

3. The method of claim 1, further comprising a supplier entering into a contract with the located payment system to process the transaction.

4. The method of claim 1, wherein the payment system requests a supplier to fund an escrow account.

5. The method of claim 1, wherein a supplier funds an escrow account for use in the transaction.

6. The method of claim 1, wherein the identification of the located payment systems is transmitted to facilitate processing the transaction.

7. The method of claim 1, wherein the customer selects one or more of the located payment systems.

8. The method of claim 1, wherein the customer selects payment system terms.

9. The method of claim 1, wherein a supplier final price is negotiated based on the one or more located payment systems selected by a customer.

10. The method of claim 1, wherein a supplier final price is negotiated based on payment system terms selected by a customer.

11. The method of claim 1, wherein a supplier selects one or more of the located payment systems.

12. The method of claim 1, wherein a supplier selects payment system terms.

13. The method of claim 1, wherein an identification of a customer associated with the transaction is authenticated.

14. The method of claim 1, wherein an identification of a customer associated with the transaction is authenticated and at least one of a price or a fee is negotiated based on a strength of the authentication.

15. The method of claim 1, wherein the payment system is an acquiring bank.

16. The method of claim 1, wherein the customer is notified that the transaction is complete.

17. The method of claim 1, wherein delivery of a purchased item is arranged for the customer.

18. The method of claim 1, wherein a score is generated for each payment system indicating how closely the payment system matches payment criteria.

19. The method of claim 1, wherein a supplier is the payment network.

20. The method of claim 1, wherein a financial component is issued by the payment network.

21. The method of claim 1, wherein a financial component is issued by the payment network, and wherein the financial component is a stored value card.

22. A gateway system comprising:

a tangible, non-transitory memory communicating with a gateway processor for identifying a payment system,

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

querying, by the gateway processor, a directory of payment systems to locate payment systems to process a transaction based at least in part upon payment criteria; and

receiving, by the gateway processor, an identification of the located payment systems, along with rating information indicating an amount of matching between the located payment system and the payment criteria,

wherein the transaction is at least partially processed with one or more of the located payment systems.

23. An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a gateway system for identifying a payment system, cause the gateway system to perform operations comprising:

querying, by the gateway system, a directory of payment systems to locate payment systems to process a transaction based at least in part upon payment criteria; and

receiving, by the gateway system, an identification of the located payment systems, along with rating information indicating an amount of matching between, the located payment system and the payment criteria,

wherein the transaction is at least partially processed with one or more of the located payment systems.