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

  • US 8,577,801 B2
  • Filed: 12/15/2011
  • Issued: 11/05/2013
  • Est. Priority Date: 06/30/2003
  • Status: Expired due to Fees
First Claim
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1. A method, comprising:

  • receiving, by a computer-based system, a request to process a transaction associated with an account accessed using an access identification, the request comprising payment criteria;

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

    receiving, by the computer-based system, an identification of each of the located payment systems based at least in part upon a strength of an authentication method used by each of the located payment systems to authenticate the access identification;

    debiting, by the computer-based system, funds from a first financial account associated with at least one of the located payment systems in response to selection of the identification of the at least one of the located payment systems to process the transaction; and

    crediting, by the computer-based system, at least a portion of the funds to an escrow account.

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