Method and system to process credit card payment transactions initiated by a merchant
First Claim
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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Accused Products
Abstract
A system, to process credit card payment transactions initiated by a merchant, includes an interface to receive a merchant-initiated request for a transfer of funds from a buyer credit card account. A credit card processing application initiates the transfer of funds from the buyer credit card account to a third-party merchant bank account, held by a third-party payment service. The third-party merchant bank account receives funds from the buyer credit card account on behalf of the merchant. A funds allocation application allocates the received funds to a receiving account of the merchant, the receiving account being maintained by the third-party payment service. The credit card processing application may be virtual point of sale (POS) terminal application, hosted at a server computer system operated by the third-party payment service, and accordingly may be accessible by the merchant via a network.
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Citations
24 Claims
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1. A system to process credit card payment transactions initiated by a merchant, the system including:
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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 service wherein 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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer-implemented method to process credit card payment transactions initiated by a merchant, the method including:
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receiving a merchant-initiated request for a transfer of funds from a buyer credit card account associated with a buyer, wherein the merchant-initiated request for the transfer of funds is received from a Web-based application; initiating, by at least one computer processor and computer storage, 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 allocating the received funds to a receiving account of the merchant issuing the request, the receiving account being maintained by the third-party payment service wherein 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. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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24. A computer-readable hardware storage device storing a set of instructions that, when executed by one or more processors, cause the one or more processors to perform the following operations, comprising:
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receive a merchant-initiated request for a transfer of funds from a buyer credit card account associated with a buyer, wherein the merchant-initiated request for the transfer of funds is received from a web based application; 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 initiating the request; and allocate the received funds to a receiving account of the merchant issuing the request, the receiving account being maintained by the third-party payment service wherein 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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Specification