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Method and system to process credit card payment transactions initiated by a merchant

  • US 8,682,784 B2
  • Filed: 09/14/2004
  • Issued: 03/25/2014
  • Est. Priority Date: 07/16/2004
  • Status: Active Grant
First Claim
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1. A system to process credit card payment transactions initiated by a merchant, the system including:

  • a hardware interface to receive a merchant-initiated request for a transfer of funds from a buyer credit card account associated with a buyer;

    a credit card processing application to initiate the transfer of funds from the buyer credit card account to a master third-party merchant bank account, held by a third-party payment service to receive merchant-initiated credit card payments on behalf of multiple merchants, the master third-party merchant bank account to receive funds from the buyer credit card account on behalf of the merchant issuing the request; and

    a funds allocation application to allocate the received funds to a receiving account of the merchant issuing the request, the receiving account being maintained by the third-party payment servicewherein the credit card processing application is to determine whether the buyer is a registered user of the third party payment service and, based on a determination that the buyer is a registered user, to prompt the merchant to issue an invoice, via the third party payment service, to the buyer instead of initiating the transfer of funds.

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