Field 55 data relationships

• US 7,962,390 B2
• Filed: 06/05/2008
• Issued: 06/14/2011
• Est. Priority Date: 06/05/2008
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Maw, Brian, Hammad, Ayman
• Primary Examiner(s): Dixon; Thomas
• Assistant Examiner(s): Fields; Benjamin S
• Application Number:
  US12/156,923
• Publication Number:
  US 20090307075A1
• Time in Patent Office: 1,104 Days
• Field of Search: None
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A data mining device, method, and apparatus configured to associate customer exclusive data from a payment card or device after a financial transaction. A financial transaction processing system comprises a report distribution management system, a data relationship manager, and a customer exclusive data association database. The report distribution management system receives financial transaction data. The data relationship manager determines an issuer associated with the financial transaction data, queries a subscription database for subscription data associated with the issuer and a core database for the issuer processing parameters. The processing parameters are applied to the financial transaction data and the subscription data. A customer exclusive data association database is updated with the financial transaction data once the processing parameters are applied.

Claims

1. A method of processing a financial transaction, the method comprising:

receiving financial transaction data via a network interface coupled to a data communications network, the financial transaction data including field 55 data, the field 55 data comprising;

amount authorized, unpredictable number, application transaction count (ATC), Issuer Application Data (IAD), application cryptogram, form factor identifier fields, and customer exclusive data, wherein the customer exclusive data comprises data associated with loyalty and coupons, or rewards, or alert preferences and contact information, or issuer discretionary data;

determining an issuer associated with the financial transaction data via a processor encoded with a data relationship manager;

querying a subscription database for subscription data associated with the issuer via the processor encoded with the data relationship manager, the subscription database being stored on a computer-readable medium, the subscription data indicating preferences of the issuer;

querying a core database for processing parameters associated with the issuer via the processor encoded with the data relationship manager;

applying the processing parameters to the financial transaction data and the subscription data via the processor encoded with the data relationship manager;

updating a customer exclusive data association database with the financial transaction data once the processing parameters are applied.

2. The method of claim 1 further comprising:

associating the field 55 data with a customer record in the customer exclusive data association database, the customer exclusive data association database being stored on the computer-readable medium;

updating the customer record with the associated field 55 data.

3. The method of claim 2 wherein the subscription data includes:

a list of reports, frequency of delivery, list of alerts and conditions under which they will be processed, transaction thresholds, preference data for customer contact, a list of loyalty programs, conditions for assigning rewards, a list of coupons, timeline for promotional periods, a list of data available to acquirers or merchants, a list of tags to be included on reports, conditions to produce risk or fraud reports, or currency preference.

4. The method of claim 3 wherein the processing parameters include:

issuer routing information, acquirer routing information, merchant routing information, processing timeline, settlement window timeline, file preferences, stand-in parameters, data storage timeframe, recovery parameters, timeout parameters, timeout parameters, failover conditions, or support staff contact information.

5. The method of claim 4 further comprising:

querying the core database for issuer billing parameters associated with the processing parameters.

6. The method of claim 5 further comprising:

billing the issuer for applying the processing parameters.

18. The method of claim 6 wherein the field 55 is limited to a maximum of 255 bytes of data.

7. A system of processing a financial transaction, the system comprising:

a report distribution management system configured to receive financial transaction data, the financial transaction data including field 55 data, the field 55 data comprising;

amount authorized, unpredictable number, application transaction count (ATC), Issue Application Data (IAD), application cryptogram, form factor identifier fields, and customer exclusive data, wherein the customer exclusive data comprises data associated with loyalty and coupons, or rewards, or alert preferences and contact information, or issuer discretionary data;

a data relationship manager configured to determine an issuer associated with the financial transaction data, to query a subscription database for subscription data associated with the issuer, the subscription database being stored on a computer-readable medium, the subscription data indicating preferences of the issuer, to query a core database for processing parameters associated with the issuer, and to apply the processing parameters to the financial transaction data and the subscription data;

a customer exclusive data association database configured to update the financial transaction data once the processing parameters are applied.

8. The system of claim 7 wherein the data relationship manager further associates the field 55 data with a customer record in the customer exclusive association data database, the customer exclusive database being stored on the computer-readable medium, and the data relationship manager is configured to update the customer record with associated field 55 data.

9. The system of claim 8 wherein the subscription data includes:

a list of reports, frequency of delivery, list of alerts and conditions under which they will be processed, transaction thresholds, preference data for customer contact, a list of loyalty programs, conditions for assigning rewards, a list of coupons, timeline for promotional periods, a list of data available to acquires or merchants, a list of tags to be included on reports, conditions to produce risk or fraud reports, or currency preference.

10. The system of claim 9 wherein the processing parameters include:

issuer routing information, acquirer routing information, merchant routing information, processing timeline, settlement window timeline, the file preferences, stand-in parameters, data storage timeframe, recovery parameters, timeout parameters, failover conditions, or support staff contact information.

11. The system of claim 10 wherein the data relationship manager further queries the core database for issuer billing parameters associated with the processing parameters.

12. The system of claim 11 further comprising:

a subscription interface configured to bill the issuer for applying the processing parameters.

13. A computer readable medium, encoded with data and instructions, that when executed by a computing-device causes the computing-device to:

receive financial transaction data, the financial transaction data including field 55 data, the field 55 data comprising;

amount authorized, unpredictable number, application transaction count (ATC), Issuer Application Data (IAD), application cryptogram, form factor identifier fields, and customer exclusive data, wherein the customer exclusive data comprises data associated with loyalty and coupons, or rewards, or alert preferences and contact information, or issuer discretionary data;

determine an issuer associated with the financial transaction data;

query a subscription database for subscription data associated with the issuer, the subscription database being stored on a computer-readable medium, the subscription data indicating preferences of the issuer;

query a core database for processing parameters associated with the issuer;

apply the processing parameters to the financial transaction data and the subscription data;

update the customer exclusive data association database with the financial transaction data once the processing parameters are applied.

14. The computer readable medium of claim 13 further comprising:

associate the field 55 data with a customer record in the customer exclusive data association database, the customer exclusive association database being stored on the computer-readable medium;

update the customer record with the associated field 55 data.

15. The computer readable medium of claim 14 wherein the subscription data includes:

a list of reports, frequency of delivery, list of alerts and conditions under which they will processed, transaction thresholds, preference data for customer contact, a list of loyalty programs, conditions for assigning rewards, a list of coupons, timeline for promotional periods, a list of data available to acquirers or merchants, a list of tags to be included on reports, conditions to produce risk or fraud reports, or currency preference.

16. The computer readable medium of claim 15 wherein the processing parameters include:

issuer routing information, acquirer routing information, merchant routing information, processing timeline, settlement window timeline, file preferences, stand-in parameters, data storage timeframe, recovery parameters, without parameters, failover conditions, or support staff contact information.

17. The computer readable medium of claim 16 further comprising:

query the core database for issuer billing parameters associated with the processing parameters.

19. A method of processing a financial transaction, the method comprising:

receiving financial transaction data at a processor including customer exclusive data associated with a cardholder, wherein the customer exclusive data comprises data associated with loyalty and coupons, or rewards, or alert preferences and contact information, or issuer discretionary data;

determining an issuer associated with the financial transaction data via the processor;

accessing a subscription database including accessing subscription data associated with the issuer, wherein the subscription data indicates issuer preferences;

accessing a core database for processing parameters associated with the issuer via the processor;

applying the processing parameters to the financial transaction data and the subscription data via the processor;

and updating a customer exclusive data association database with the financial transaction data.

20. The method of claim 19 wherein the issuer preferences include preferences associated with a list of reports, frequency of delivery, list of alerts and conditions under which they will be processed, transaction thresholds, preference data for customer contact, a list of loyalty programs, conditions for assigning rewards, a list of coupons, timeline for promotional periods, a list of data available to acquirers or merchants, a list of tags to be included on reports, conditions to produce risk or fraud reports, or currency preferences.