System and method for processing multiple methods of payment

• US 8,407,141 B2
• Filed: 10/30/2007
• Issued: 03/26/2013
• Est. Priority Date: 10/30/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Mullen, Matthew James, Rockelman, Mark
• Primary Examiner(s): NGUYEN, TIEN C
• Application Number:
  US11/929,033
• Publication Number:
  US 20090112747A1
• Time in Patent Office: 1,974 Days
• Field of Search: 705 1- 45, 705/59, 705/79, 726/1, 380/201, 455/410, 709/227, 713/161
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Financial transaction data comprising payment on any one of multiple financial transaction types are processed with an adapter layer that receives an incoming data message relating to a financial transaction initiated by a payer and operates on the incoming data message to produce adapted data relating to the financial transaction, and a processor that receives the adapted data and determines transaction routing to direct the adapted data to a processing network module that requests authorization by an issuer, responds to authorization by initiating request for settlement and payment on the financial transaction to a transaction payee, and responds to payee query requests by providing non-payment data to an external payee.

Claims

1. A system for processing financial transaction data, the system comprising:

an adapter layer that receives an incoming data message having a message format of a transaction system that is external to a payment processing network that processes transactions relating to an account managed by an issuer who utilizes the payment processing network, the incoming data message relating to any one of a financial transaction initiated by a payer, an authorization request, and a payee query request, and such that the adapter layer operates on the incoming data message to change the format of the incoming data message and produce adapted data relating to the financial transaction in a message format suitable for processing by the payment processing network;

a processor hub that receives the adapted data and determines transaction routing to direct the adapted data to the payment processing network, wherein the payment processing network generates intra-network communications comprising requests for authorization by the issuer, requests for settlement and payment on the financial transaction to a transaction payee in response to authorizations, and responses to payee query requests from payees external to the payment processing network for non-payment data, and wherein the payment processing network generates extra-network communications to entities external to the payment processing network for making a payment to the payee on the financial transaction, wherein the processor hub performs rules-based workflow management processing on the adapted data for the financial transaction, wherein the rules-based workflow management processing comprises extracting and reformatting the adapted data into one or more formats defined by the external entities prior to directing the adapted data to the payment processing network, and wherein the processor hub receives responses to the requests for authorization from the issuer via the payment processing network and forwards the responses to the adapter layer for transmission to the payer;

wherein the adapter layer is configured to receive the incoming data message from a graphical user interface browser application communicating over a public network and wherein the payer is associated with the account managed by the issuer; and

wherein the processor hub is configured to provide an administrative interface through the graphical user interface browser application for setup and control and to provide access to the processor hub by participants of the financial transaction.

2. The system as in claim 1, wherein the payment processing network further generates authorization requests for payment on the financial transaction to a card account issuer.

3. The system as in claim 1, wherein the extra-network communications include external notification to an issuer/payer institution.

4. The system as in claim 1, wherein the extra-network communications include external notification to an acquirer/payee institution.

5. The system as in claim 1, wherein the financial transaction comprises a commercial push transaction.

6. The system as in claim 1, wherein the financial transaction comprises a bill payment.

7. The system as in claim 1, wherein the financial transaction comprises a purchase card transaction.

8. The system as in claim 1, wherein the financial transaction comprises an original credit transaction.

9. The system as in claim 1, wherein the payment processing network comprises a proprietary payment processing network and the adapted data provides payment instruction data for the proprietary payment processing network.

10. The system as in claim 1, wherein the requests from external payees for non-payment data comprise requests for database management operations.

11. The system as in claim 1, the system further comprising data stores containing data for processing by the processor hub, wherein the processor hub determines data for the transaction routing from data maintained by the payment processing network.

12. The system as in claim 1, wherein the one or more formats defined by the external entities are associated with automated transactions, clearing house transactions, wire transfers, and checks.

13. The system as in claim 1, wherein the non-payment data comprises reports.

14. The system as in claim 13, wherein the reports comprise settlements, daily positions, future estimates, and historical transactions for the external payees.

15. The system as in claim 1, wherein the adapter layer is configured to receive incoming data messages in a plurality of formats.

16. The system as in claim 15, wherein the plurality of formats comprises HTTP, HTTPS, EDI, FTP, SFTP, Swift, and VAN.

17. A method for processing data related to a financial transaction, the method comprising:

producing adapted data in an adapter layer, the adapted data relating to the financial transaction from an incoming data message having a message format of a transaction system that is external to a payment processing network that processes transactions relating to an account managed by an issuer who utilizes the payment processing network, the incoming data message relating to any one of a financial transaction initiated by a payer, an authorization request, and a payee query request, such that the adapted data has a changed message format that is suitable for processing by the payment processing network;

receiving the adapted data in a processor hub;

determining, by the processor hub, transaction routing to direct the adapted data to the payment processing network and performing rules-based workflow management processing on the adapted data for the financial transaction, wherein the payment processing network;

generates intra-network communications comprising requests for authorization by an issuer, requests for settlement and payment on the financial transaction to a transaction payee in response to authorizations, and responses to payee query requests from payees external to the payment processing network for non-payment data, and

generates extra-network communications to entities external to the payment processing network for making payments to external payees, wherein the rule-based workflow management processing comprises extracting and reformatting the adapted data into one or more formats defined by the external entities prior to directing the adapted data to the payment processing network by the processor hub;

receiving, at the processor hub, responses to the requests for authorization from the issuer via the payment processing network;

forwarding, by the processor hub, the responses to the requests for authorization to the adapter layer for transmission to the payer;

wherein the adapter layer is configured to receive the incoming data message from a graphical user interface browser application communicating over a public network and wherein the payer is associated with the account managed by the issuer; and

wherein the processor hub is configured to provide an administrative interface through the graphical user interface browser application for setup and control and to provide access to the processor hub by participants of the financial transaction.

18. The method as in claim 17, further including generating an authorization request for payment on the financial transaction to a card account issuer.

19. The method as in claim 18, further including generating clearance and settlement operations for payment of the financial transaction on the card account.

20. The method as in claim 17, wherein generating the extra-network communications includes external notification to an issuer/payer institution.

21. The method as in claim 17, wherein generating the extra-network communications includes external notification to an acquirer/payee institution.

22. The method as in claim 17, wherein the financial transaction comprises a commercial push transaction.

23. The method as in claim 17, wherein the financial transaction comprises a bill payment.

24. The method as in claim 17, wherein the financial transaction comprises a purchase card transaction.

25. The method as in claim 17, wherein the financial transaction comprises an original credit transaction.

26. The method as in claim 17, wherein the payment processing network comprises a proprietary payment processing network and producing adapted data comprises producing adapted data that provides payment instruction data for the proprietary payment processing network.

27. The method as in claim 17, wherein the requests from external payees for non-payment data comprise requests for database management operations.

28. The method as in claim 17, wherein the system includes data stores containing data for processing by the processor hub, and wherein the processor hub determines data for the transaction routing from data maintained by the payment processing network.