Real time account update

• US 9,727,863 B2
• Filed: 03/04/2011
• Issued: 08/08/2017
• Est. Priority Date: 05/30/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: DiGioacchino, Laura
• Primary Examiner(s): Shaikh, Mohammad Z
• Assistant Examiner(s): GREGG, MARY M
• Application Number:
  US13/040,904
• Publication Number:
  US 20110153500A1
• Time in Patent Office: 2,349 Days
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/407 Cancellation of a transaction
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method is used in a system that includes a financial service provider coordinating accounts issued by an issuer to cardholders requesting credit from merchants. Each merchant has an acquirer with whom the financial service provider also coordinates the accounts. The method can be performed by a merchant sending a transmission to its acquirer including a request for a transaction against one account to which the merchant receives a denial or prior to receiving such a denial. The merchant then requests information from the financial service provider who responds by sending the requested information, upon which the merchant determines whether to extend the credit. When the method is performed by a financial service provider, in response to the denial received by one merchant or prior to such denial, the financial service provider receives a transmission from the merchant including a request for information about the account. In response, the financial service provider sends the merchant the requested information.

Claims

1. A method comprising:

storing, by a computing device, first account information in a database of account records, wherein the first account information is associated with an account corresponding to an account holder;

generating, by the computing device, a first transmission including the first account information and a first request for an authorization of a transaction on the account;

sending, by the computing device, the first transmission to an issuer of the account, wherein the first transmission including the first request for the authorization of the transaction is sent to the issuer via the transaction handler and an acquirer, wherein the issuer of the account stores second account information associated with the account corresponding to the account holder, wherein the issuer of the account compares the first account information to the second account information, and wherein the issuer of the account generates a denial of the first request when the first account information does not match the second account information;

receiving, by the computing device, a second transmission including the denial by the issuer of the account of the first request for the authorization of the transaction in response to the first request for the authorization;

in response to the received denial, automatically generating, by the computing device, a third transmission requesting a content of changes to the first account information;

sending, by the computing device, the third transmission to a transaction handler, wherein the third transmission requests the content of changes to the first account information, wherein the transaction handler stores the content of the changes in a database of account records;

receiving, by the computing device, a fourth transmission from the transaction handler including the content of the changes to the first account information;

generating, by the computing device, a fifth transmission including a second request for an authorization of the transaction on the account corresponding to the account holder, wherein the second request includes the content of the changes to the first account information; and

sending, by the computing device, the fifth transmission to the issuer of the account, wherein the issuer of the account authorizes or denies the transaction using the content of the changes.

2. The method of claim 1 further comprising querying the received content of the changes to the account against predetermined criteria to determine whether to authorize the transaction on the account of the corresponding account holder.

3. The method of claim 2 further comprising, in response to querying the received changes to the account against the predetermined criteria, extending credit to the account holder.

4. The method of claim 1 wherein the account holder is a cardholder.

5. The method of claim 1 wherein the method is performed by the merchant.

6. The method of claim 5 wherein the merchant is an online book seller.

7. The method of claim 1 wherein the transaction handler authorizes transactions on behalf of the issuer according to business rules.

8. The method of claim 1 wherein the content of the changes to the account information comprises a change in the account number and expiration date associated with the account.

9. The method of claim 1 wherein the fourth transmission from the transaction handler including the content of the changes to the account information is received at a browser-based input/output interface.

10. The method of claim 1 wherein the third transmission to the transaction handler further includes the account information associated with the account corresponding to the account holder.

11. The method of claim 10 wherein the account information includes an account number or expiration date, and wherein the fourth transmission from the transaction handler further includes a change to the account number or expiration date.

12. The method of claim 1 wherein the transaction handler participates in a clearing and settlement process for the transaction on the account.

13. A method comprising:

storing, by a computing device, first account information in a database of account records associated with a merchant, wherein the first account information is associated with an account corresponding to an account holder;

generating, by the computing device, a first transmission including the first account information and a first request for an authorization of a transaction on the account;

sending, by the computing device, the first transmission to an issuer of the account, wherein the first transmission including the first request for the authorization of the transaction is sent to the issuer via the transaction handler and an acquirer, wherein the issuer of the account stores second account information associated with the account corresponding to the account holder, wherein the issuer of the account compares the first account information to the second account information, and wherein the issuer of the account generates a denial of the first request when the first account information does not match the second account information;

receiving, by the computing device, a second transmission including the denial by the issuer of the account of the first request for the authorization of the transaction in response to the request for the authorization;

in response to the received denial, automatically generating, by the computing device, a third transmission requesting a content of changes to the first account information;

sending, by the computing device, the third transmission to a transaction handler, wherein the third transmission requests the content of changes to the first account information, wherein the transaction handler stores the content of the changes in a database of account records;

receiving, by the computing device, a fourth transmission from the transaction handler including the content of the changes to the first account information;

batch updating, by the computing device, a plurality of the account records stored in the database associated with the merchant with changes to account information included in the account records;

generating, by the computing device, a fifth transmission including a second request for an authorization of the transaction on the account corresponding to the account holder, wherein the second request includes the content of the changes to the first account information; and

sending, by the computing device, the fifth transmission to the issuer of the account, wherein the issuer of the account authorizes or denies the transaction using the content of the changes.

14. The method of claim 13 wherein the batch updating is performed periodically.

15. A non-transitory computer readable medium comprising code, executable by a processor, for implementing a method comprising:

storing first account information in a database of account records, wherein the first account information is associated with an account corresponding to an account holder;

generating a first transmission including the first account information and a first request for an authorization of a transaction on the account;

sending the first transmission to an issuer of the account, wherein the first transmission including the first request for the authorization of the transaction is sent to the issuer via the transaction handler and an acquirer, wherein the issuer of the account stores second account information associated with the account corresponding to the account holder, wherein the issuer of the account compares the first account information to the second account information, and wherein the issuer of the account generates a denial of the first request when the first account information does not match the second account information;

receiving a second transmission including the denial by the issuer of the account of the first request for the authorization of the transaction in response to the first request for the authorization;

in response to the received denial, generating a third transmission requesting a content of changes to the first account information;

sending to a transaction handler the third transmission, wherein the third transmission requests the content of changes to the first account information, wherein the transaction handler stores the content of the changes in a database of account records;

receiving a fourth transmission from the transaction handler including the content of the changes to the first account information;

generating a fifth transmission including a second request for an authorization of the transaction on the account corresponding to the account holder, wherein the second request includes the content of the changes to the first account information; and

sending the fifth transmission to the issuer of the account, wherein the issuer of the account authorizes or denies the transaction using the content of the changes.

16. The non-transitory computer readable medium of claim 15 wherein the method further comprises querying the received content of the changes to the account against predetermined criteria to determine whether to authorize the transaction on the account of the corresponding account holder.

17. The non-transitory computer readable medium of claim 15 wherein the account holder is a cardholder.

18. The non-transitory computer readable medium of claim 15 wherein the method further comprises batch updating a plurality of the account records stored in the database with changes to account information included in the account records at a merchant.

19. The non-transitory computer readable medium of claim 15 wherein the method is performed by a merchant.

20. A computer comprising a processor, and a computer readable medium coupled to the processor, the computer readable medium comprising code, executable by the processor, to implement a method comprising:

storing first account information in a database of account records, wherein the first account information is associated with an account corresponding to an account holder;

generating a first transmission including the first account information and a first request for an authorization of a transaction on the account;

sending the first transmission to an issuer of the account, wherein the first transmission including the first request for the authorization of the transaction is sent to the issuer via the transaction handler and an acquirer, wherein the issuer of the account stores second account information associated with the account corresponding to the account holder, wherein the issuer of the account compares the first account information to the second account information, and wherein the issuer of the account generates a denial of the first request when the first account information does not match the second account information;

receiving a second transmission including the denial by the issuer of the account of the first request for the authorization of the transaction in response to the first request for the authorization;

in response to the received denial, generating a third transmission requesting a content of changes to the first account information;

sending the third transmission to a transaction handler, wherein the third transmission requests the content of changes to the first account information, wherein the transaction handler stores the content of the changes in a database of account records;

receiving a fourth transmission from the transaction handler including the content of the changes to the first account information;

generating a fifth transmission including a second request for an authorization of the transaction on the account corresponding to the account holder, wherein the second request includes the content of the changes to the first account information; and

sending the fifth transmission to the issuer of the account, wherein the issuer of the account authorizes or denies the transaction using the content of the changes.

21. The computer of claim 20 wherein the method further comprises querying the received changes to the account against predetermined criteria to determine whether to authorize the transaction on the account of the corresponding account holder.

22. The computer of claim 20 wherein the account holder is a cardholder.

23. The computer of claim 20 wherein the method further comprises batch updating a plurality of the account records stored in the database with changes to account information included in the account records at a merchant.

24. The computer of claim 20 wherein the method is performed by a merchant.