Systems and methods for processing payment transactions

• US 8,924,300 B2
• Filed: 09/26/2012
• Issued: 12/30/2014
• Est. Priority Date: 09/26/2011
• Status: Expired due to Fees

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Royyuru, Vijay Kumar
• Primary Examiner(s): Bartley, Kenneth
• Application Number:
  US13/627,654
• Publication Number:
  US 20130080328A1
• Time in Patent Office: 825 Days
• Field of Search: 705/35, 705/39, 705/41, 705/44
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Embodiments of the disclosure can include systems and methods for processing transactions. In one embodiment, a computer-implemented method for processing proposed transactions can be provided. The method can include storing, by a service provider system comprising one or more computers, one or more issuer rules associated with the applicability of one or more payment accounts to proposed transaction; receiving, by the service provider system from a merchant computer, information associated with a proposed transaction, the information comprising one of an identification of a payment account or an identification of a consumer payment device; evaluating, by the service provider system utilizing the one or more issuer rules, the proposed transaction; and determining, by the service provider system based at least in part upon the evaluation, at least one of (i) a payment account to utilize in association with the proposed transaction or (ii) whether the proposed transaction will be approved or denied.

Claims

1. A computer-implemented method for processing proposed transactions, the method comprising:

storing, by a service provider system comprising one or more computers, one or more issuer rules associated with one or more closed loop payment accounts permitting use of the one or more closed loop payment accounts outside of a predefined closed loop network;

receiving, by the service provider system from a merchant computer outside of the predefined closed loop network, information associated with a proposed transaction, the information comprising one of an identification of a payment account or an identification of a consumer payment device;

evaluating, by the service provider system based at least in part on the one or more issuer rules and the information associated with the proposed transaction, the proposed transaction;

determining, by the service provider system based at least in part upon the evaluation a closed loop payment account of the one or more closed loop payment accounts to utilize in association with the proposed transaction; and

utilizing, by the service provider system, the closed loop payment account of the one or more closed loop payment accounts in association with the proposed transaction received from the merchant computer outside of the predefined closed loop network.

2. The computer-implemented method of claim 1, further comprising:

storing, by the service provider system, one or more consumer rules associated with the one or more closed loop payment accounts,

wherein evaluating the proposed transaction comprises evaluating the proposed transaction based at least in part on the one or more consumer rules.

3. The computer-implemented method of claim 1, further comprising:

receiving, by the service provider system, the one or more issuer rules in a batch file communication or an interprocess communication.

4. The computer-implemented method of claim 1, wherein the one or more issuer rules associated with the one or more closed loop payment accounts comprise at least one of geographical parameters, temporal parameters, transaction amount parameters, monetary amount parameters or identification of one or more merchants.

5. The computer-implemented method of claim 1, wherein the one or more issuer rules associated with the one or more closed loop payment accounts comprise one or more incentives or special offers.

6. The computer-implemented method of claim 1, further comprising:

identifying, by the service provider system, a consumer based at least in part on the information associated with the proposed transaction;

storing, by the service provider system, the identification of the payment account or the identification of the consumer payment device associated with the consumer.

7. The computer-implemented method of claim 1, further comprising:

determining, by the service provider system, the proposed transaction is a decoupled transaction based at least in part on the information associated with the proposed transaction.

8. A system for processing proposed transactions, the system comprising:

at least one memory configured to store computer-executable instructions; and

at least one processor configured to access the at least one memory and execute the computer-executable instructions to;

store one or more issuer rules associated with one or more closed loop payment accounts permitting the use of the one or more closed loop payment accounts outside of a predefined closed loop network;

receive, from a merchant computer outside of the predefined closed loop network, information associated with a proposed transaction, the information comprising one of an identification of a payment account or an identification of a consumer payment device;

evaluate, based at least in part on the one or more issuer rules and the information associated with the proposed transaction, the proposed transaction;

determine, based at least in part upon the evaluation, a closed loop payment account of the one or more closed loop payment accounts to utilize in association with the proposed transaction; and

utilize the closed loop payment account of the one or more closed payment accounts in association with the proposed transaction received from the merchant computer outside of the predefined closed loop network.

9. The system of claim 8, wherein the at least one processor is further configured to execute the computer-executable instructions to:

store one or more consumer rules associated with the one or more closed loop payment accounts,

wherein evaluating the proposed transaction comprises evaluating the proposed transaction based at least in part on the one or more consumer rules.

10. The system of claim 8, wherein the at least one processor is further configured to execute the computer-executable instructions to:

receive the one or more issuer rules in a batch file communication or an interprocess communication.

11. The system of claim 8, wherein the one or more issuer rules associated with the one or more closed loop payment accounts comprise at least one of geographical parameters, temporal parameters, transaction amount parameters, monetary amount parameters or identification of one or more merchants.

12. The system of claim 8, wherein the one or more issuer rules associated with the one or more closed loop payment accounts comprise one or more incentives or special offers.

13. The system of claim 8, wherein the at least one processor is further configured to execute the computer-executable instructions to:

identify a consumer based at least in part on the information associated with the proposed transaction;

store the identification of the payment account or the identification of the consumer payment device associated with the consumer.

14. The system of claim 8, wherein the at least one processor is further configured to execute the computer-executable instructions to:

determine the proposed transaction is a decoupled transaction based at least in part on the information associated with the proposed transaction.