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System and method for processing microtransactions

  • US 8,429,072 B1
  • Filed: 09/27/2011
  • Issued: 04/23/2013
  • Est. Priority Date: 01/15/2002
  • Status: Expired due to Term
First Claim
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1. A computer-implemented method for processing a microtransaction, the method comprising:

  • receiving a transaction request having one or more electronic information packets comprising information of a transaction initiated by a customer interacting with a merchant, the customer using a transaction account, the transaction request including a transaction amount;

    accessing a microtransaction threshold amount;

    determining whether the transaction amount is below the microtransaction threshold amount;

    when the transaction amount is above the microtransaction threshold amount, processing the transaction information through a first interchange entity as a non-microtransaction; and

    when the transaction amount is below the microtransaction threshold amount;

    electronically routing the transaction request to a second interchange entity, andprocessing the transaction request to effect the microtransaction between the customer and the merchant,wherein the second interchange entity processes the microtransaction by debiting or crediting at least a portion of the transaction amount to a pool of funds that has been established for microtransactions.

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