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System and method for managing a transaction protocol

  • US 8,635,131 B1
  • Filed: 10/15/2004
  • Issued: 01/21/2014
  • Est. Priority Date: 07/10/2001
  • Status: Expired due to Fees
First Claim
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1. A method for facilitating the management of a transaction request using a BIN identifier, comprising:

  • receiving, by a computer-based system for facilitating the management of a transaction request, at least one funding protocol parameter from a customer;

    receiving, by the computer-based system, a transaction request, the transaction request including a transaction account number associated with a transaction account, wherein the transaction account is associated with the customer;

    retrieving, by the computer-based system, a bank identification number (BIN) from the transaction account number, wherein the BIN indicates at least a transaction account issuer of the transaction account number;

    routing, by the computer-based system, the transaction request to the transaction account issuer identified by the BIN;

    retrieving, by the computer-based system, a BIN identifier from a portion of the BIN, the BIN identifier identifying a funding protocol for the transaction account;

    retrieving, by the computer-based system, predefined parameters of the funding protocol, the predefined parameters defining a class of transactions to be processed according to the funding protocol, wherein a first transaction class is associated with a first funding source and a second transaction class is associated with a second funding source;

    determining, by the computer-based system, that the transaction request satisfies the predefined parameters of the funding protocol; and

    in response to the transaction request satisfying the predefined parameters of the funding protocol, processing, by the computer-based system, the transaction request in accordance with the funding protocol identified by the BIN identifier, and otherwise processing the transaction request with a non-customer-defined protocol.

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