System and method for processing microtransactions
First Claim
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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Accused Products
Abstract
Methods and systems of the invention provide a variety of techniques for processing microtransactions. In accordance with the invention, the method starts with a customer initiating a purchase through interaction with a merchant. The purchase is associated with purchase information, which includes the particulars of the purchase, such as the purchase price. In the purchase, the customer uses a transaction account, obtained from a payment enabler. The purchase is classified as a microtransaction, if the purchase price is below a predetermined monetary amount. Thereafter, the purchase information is forwarded for processing based on the classifying, i.e., either as a regular transaction or as a microtransaction. Then, upon receipt of the purchase information by an appropriate recipient, such as an interchange entity or an alternate interchange entity, the purchase information is processed to effect the microtransaction, if so classified, between the customer and the merchant.
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Citations
13 Claims
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1. A computer-implemented method for processing a microtransaction, the method comprising:
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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, and processing 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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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Specification