U.S. patent application number 15/621327 was filed with the patent office on 2017-12-21 for system and method of payment of merchants on behalf of payment card system transaction acquirers.
The applicant listed for this patent is MasterCard International Incorporated. Invention is credited to Dana Lorberg, Sandeep Malhotra, Shanthan Subramaniam.
Application Number | 20170364890 15/621327 |
Document ID | / |
Family ID | 59091668 |
Filed Date | 2017-12-21 |
United States Patent
Application |
20170364890 |
Kind Code |
A1 |
Malhotra; Sandeep ; et
al. |
December 21, 2017 |
SYSTEM AND METHOD OF PAYMENT OF MERCHANTS ON BEHALF OF PAYMENT CARD
SYSTEM TRANSACTION ACQUIRERS
Abstract
A card payment network handles a payment card account system
transaction. The transaction involves a merchant and was acquired
by a transaction acquirer. The card payment network initiates an
electronic funds transfer to credit the merchant's bank deposit
account on behalf of the transaction acquirer.
Inventors: |
Malhotra; Sandeep;
(Greenwich, CT) ; Subramaniam; Shanthan; (Baldwin
Place, NY) ; Lorberg; Dana; (St. Louis, MO) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
MasterCard International Incorporated |
Purchase |
NY |
US |
|
|
Family ID: |
59091668 |
Appl. No.: |
15/621327 |
Filed: |
June 13, 2017 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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62350322 |
Jun 15, 2016 |
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62350335 |
Jun 15, 2016 |
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62350407 |
Jun 15, 2016 |
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62351155 |
Jun 16, 2016 |
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62350821 |
Jun 16, 2016 |
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62351016 |
Jun 16, 2016 |
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62351227 |
Jun 16, 2016 |
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62350831 |
Jun 16, 2016 |
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62350416 |
Jun 15, 2016 |
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62351164 |
Jun 16, 2016 |
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Current U.S.
Class: |
1/1 |
Current CPC
Class: |
G06Q 20/322 20130101;
G06Q 20/38 20130101; G06N 20/00 20190101; G06Q 20/341 20130101;
G06Q 20/204 20130101; G06Q 20/36 20130101; G06Q 10/107 20130101;
G06Q 20/108 20130101; G06Q 20/202 20130101; G06Q 20/34 20130101;
G06Q 20/4016 20130101; G06Q 20/405 20130101; G06Q 20/3221 20130101;
G06Q 20/10 20130101; G06Q 20/385 20130101; G06Q 20/4012 20130101;
G06Q 20/105 20130101; G06Q 20/325 20130101; G06Q 20/387 20130101;
G06Q 40/02 20130101; G06Q 20/40 20130101; G06Q 20/023 20130101;
G06Q 20/027 20130101; G06Q 20/401 20130101; G06Q 20/102
20130101 |
International
Class: |
G06Q 20/20 20120101
G06Q020/20; G06Q 20/02 20120101 G06Q020/02; G06Q 20/10 20120101
G06Q020/10; G06Q 20/38 20120101 G06Q020/38 |
Claims
1. A method comprising: handling a payment card account system
transaction in a card payment network, the transaction involving a
merchant and having been acquired by a transaction acquirer; and
initiating an electronic funds transfer by the card payment network
to credit the merchant's deposit account on behalf of the
transaction acquirer.
2. The method of claim 1, wherein the electronic funds transfer is
via an EFT (electronic funds transfer) system.
3. The method of claim 2, wherein the electronic funds transfer is
via an ACH (automated clearing house) system.
4. The method of claim 1, wherein the electronic funds transfer
effects a transfer of funds to said merchant's deposit account from
an account belonging to said transaction acquirer.
5. The method of claim 1, wherein said electronic funds transfer
executes a transfer of funds relating to a plurality of payment
card account system transactions that includes said payment card
account system transaction.
6. The method of claim 5, wherein said electronic funds transfer
executes a transfer of funds relative to a net position of funds
due to the merchant from the transaction acquirer.
7. The method of claim 6, wherein said net position is net of fees
due to the transaction acquirer.
8. A method comprising: handling a plurality of payment card
account system transactions in a card payment network, the
transactions all involving a merchant and having been acquired by a
transaction acquirer; and initiating an electronic funds transfer
by the card payment network to credit the merchant's deposit
account on behalf of the transaction acquirer, said funds transfer
for transferring a net funds position from the transaction acquirer
to the merchant in regard to said plurality of transactions.
9. The method of claim 8, wherein the electronic funds transfer is
via an EFT (electronic funds transfer) system.
10. The method of claim 9, wherein the electronic funds transfer is
via an ACH (automated clearing house) system.
11. The method of claim 8, wherein the electronic funds transfer
effects a transfer of funds to said merchant's deposit account from
an account belonging to said transaction acquirer.
12. The method of claim 8, wherein said net funds position is net
of charge-back transactions and fees due to the transaction
acquirer.
13. The method of claim 8, further comprising: receiving, from the
transaction acquirer, an account identifier that identifies said
merchant's deposit account.
14. The method of claim 13, wherein: said account identifier is
received in a message, said message also including a discount rate
that defines fees due to the transaction acquirer from the
merchant.
15. An apparatus comprising: a processor; and a memory in
communication with the processor, the memory storing program
instructions, the processor operative with the program instructions
to perform functions as follows: handling a plurality of payment
card account system transactions in a card payment network, the
transactions all involving a merchant and having been acquired by a
transaction acquirer; and initiating an electronic funds transfer
by the card payment network to credit the merchant's deposit
account on behalf of the transaction acquirer, said funds transfer
for transferring a net funds position from the transaction acquirer
to the merchant in regard to said plurality of transactions.
16. The apparatus of claim 15, wherein the electronic funds
transfer is via an EFT (electronic funds transfer) system.
17. The apparatus of claim 16, wherein the electronic funds
transfer is via an ACH (automated clearing house) system.
18. The apparatus of claim 15, wherein the electronic funds
transfer effects a transfer of funds to said merchant's deposit
account from an account belonging to said transaction acquirer.
19. The apparatus of claim 15, wherein said net funds position is
net of charge-back transactions and fees due to the transaction
acquirer.
20. The apparatus of claim 15, wherein the processor is further
operative with the program instructions to receive, from the
transaction acquirer, an account identifier that identifies said
merchant's deposit account, said account identifier received in a
message, said message also including a discount rate that defines
fees due to the transaction acquirer from the merchant.
Description
CROSS REFERENCE TO RELATED APPLICATIONS
[0001] This application claims the benefit of U.S. Provisional
Patent Application Nos. 62/350,322 (filed on Jun. 15, 2016);
62/350,335 (filed Jun. 15, 2016); 62/350,407 (filed Jun. 15, 2016);
62/351,155 (filed Jun. 16, 2016); 62/350,821 (filed Jun. 16, 2016);
62/351,016 (filed Jun. 16, 2016); 62/351,227 (filed Jun. 16, 2016);
62/350,831 (filed Jun. 16, 2016); 62/350,416 (filed Jun. 15, 2016);
and 62/351,164 (filed Jun. 16, 2016); the contents of which
provisional applications are hereby incorporated by reference for
all purposes.
BACKGROUND
[0002] In the "four party model" upon which most payment card
systems are based, merchants that accept payment card transactions
do so via agreements with transaction acquirers. Transaction
acquirers are typically financial institutions authorized to act as
intermediaries between merchants and the financial institutions
that issue payment cards. Among the systems that employ the four
party model are MasterCard, Visa, RuPay and Union Pay. Acquirers
typically make payments to merchants using conventional EFT payment
network rails and deposit funds to merchants' bank accounts based
on the net settlement positions that the merchants have with the
acquirer after netting fees and the applicable merchant discount
rate (MDR). Set up of such payments is complex, and it is common
for merchants to receive payment three days after a payment card
transaction occurs.
[0003] The present inventors have now recognized opportunities to
improve handling of payments to merchants with respect to payment
card transactions.
BRIEF DESCRIPTION OF THE DRAWINGS
[0004] Features and advantages of some embodiments of the present
disclosure, and the manner in which the same are accomplished, will
become more readily apparent upon consideration of the following
detailed description of the invention taken in conjunction with the
accompanying drawings, which illustrate preferred and example
embodiments and which are not necessarily drawn to scale,
wherein:
[0005] FIG. 1 is a block diagram of a payment card account
system.
[0006] FIG. 2 is block diagram of a payment system such as an EFT
(electronic funds transfer) system.
[0007] FIG. 3 is a block diagram of a payment card system provided
in accordance with aspects of the present disclosure.
[0008] FIG. 4 is a block diagram of an example computer system that
may perform functions in the system of FIG. 3.
[0009] FIGS. 5, 6, 7 and 8 are flow charts that illustrate
processes that may be performed in the system of FIG. 3 in
accordance with aspects of the present disclosure.
DESCRIPTION
[0010] In general, and for the purpose of introducing concepts of
embodiments of the present disclosure, an EFT payment network in
conjunction with a payment card system may be enabled to provide an
integrated merchant payment solution for acquirers. The card system
operator may provide an automated payment function that allows
automated calculation of settlements due to merchants and immediate
implementation of crediting or debiting the merchant's bank account
using the EFT payment network.
[0011] Merchants may be enrolled in the automated system, from the
acquirer's point of view, via bulk data loads to the payment card
system operator. In addition or alternatively, the payment card
system operator may host a self-serve portal that allows merchants
to provide or update their bank account details. The automated
system may also implement back office automation that executes
payments when due based on triggers defined by the acquirer.
[0012] Such an automated system for paying merchants may shorten
the time between execution of the card transaction and payment to
merchant, thus improving the cash flows for merchants. Moreover,
administrative burdens on acquirers may be reduced and acquirers
may be enabled to provide better service to the merchants they
support.
[0013] FIG. 1 is a block diagram that illustrates a payment card
account system 100.
[0014] The system 100 includes a customer device 102 such as a
magnetic stripe card, a payment IC (integrated circuit) card
(contactless and/or contact), or a payment-enabled mobile device.
Block 104 in FIG. 1 represents a merchant device such as a POS
(point of sale) terminal/card reader. The merchant device 104 may
also be considered part of the payment card account system 100. The
customer device 102 may be presented to the merchant device 104, to
consummate a purchase transaction and to permit the merchant device
104 to read payment card account data (including, e.g., a payment
account number) from the customer device 102. In other situations,
the merchant device 104 may be an e-commerce server computer, and
the customer device 102 may be a personal computer, a mobile device
running a mobile browser, etc.; in such situations, the customer
device 102 may engage in an online shopping session with an
e-commerce website hosted by the merchant device 104.
[0015] A computer 106 operated by an acquirer (acquiring financial
institution) is also shown as part of the system 100 in FIG. 1. The
acquirer computer 106 may receive a payment account system
authorization request message for the transaction from the merchant
device 104. The acquirer computer 106 may route the authorization
request message via a card network 108 to a server computer 110
operated by the issuer of a payment account that is associated with
the account number obtained by the merchant device 104 (e.g., from
the customer device 102) and included in the authorization request
message. The authorization response message generated by the
payment issuer server computer 110 may be routed back to the
merchant device 104 via the card network 108 and the acquirer
computer 106.
[0016] One well known example of a card network is referred to as
the "Banknet" system, and is operated by Mastercard International
Incorporated, which is the assignee hereof.
[0017] The payment account issuer server computer 110 may be
operated by or on behalf of a financial institution ("FI") that
issues payment accounts to individual users such as the customer
who presented or operated the customer device 102 referred to
above. For example, the payment card issuer server computer 110 may
perform such functions as (a) receiving and responding to requests
for authorization of payment account transactions to be charged to
payment accounts issued by the FI; and (b) tracking and storing
transactions and maintaining account records.
[0018] The payment card account system communications among the
merchants, acquirers, card network and/or issuers may conform to a
known standard such as ISO 8583.
[0019] The components of the system 100 as depicted in FIG. 1 are
only those that are needed for processing a single transaction. A
typical payment system may process many purchase transactions
(including simultaneous transactions) and may include a
considerable number of payment account issuers and their computers,
a considerable number of acquirers and their computers, and
numerous merchants and their devices, as well as a very large
number of customer devices.
[0020] FIG. 2 is a block diagram that illustrates a payment network
system 200, of which one example is the ACH (automated clearing
house) system operated in the United States.
[0021] The system 200 includes an originator device 202, which may
be a computer operated by an originator of a transaction. Common
kinds of transactions are credit transactions and debit
transactions. The originator is the party that initiates the
transaction. The originator may be, for example, an individual or a
corporation or other organization.
[0022] The system 200 further includes an originator PSP (payment
services provider) computer 204. The originator PSP computer 204
receives payment instructions from the originator and forwards data
entries that reflect the instructions to a payment system
switch/network 206, which is also part of the system 200. The
originator PSP computer 204 may be operated by an originator PSP of
which the originator is a customer. The switch/network 206 may be
operated by a governmental or private entity that serves as a
clearing facility for the system 200.
[0023] Also included in the system 200 is a beneficiary PSP
computer 208. The beneficiary PSP computer 208 receives entries
from the payment system switch/network 206 and posts entries to
accounts of depositors.
[0024] Still further, the system 200 includes a beneficiary 210
that is one of the depositors of the beneficiary PSP. In the case
of a credit transaction, the account at the beneficiary PSP of the
beneficiary may be credited with the amount instructed to be paid
by the originator device 202. The beneficiary may be, for example,
an individual or a corporation or other organization. Both PSPs may
typically be banks or other financial institutions (FIs).
[0025] The communications among the parties in the system 200 may
typically be conducted using XML (eXtensible Markup Language) and
may comply with a standard according to ISO 20022.
[0026] The components of the system 200 as depicted in FIG. 2 are
only those that are needed for processing a single transaction. A
typical payment network system may process many transactions
(including simultaneous transactions) and may include a
considerable number of PSPs and their computers, one or more
clearing operators, and numerous originators and beneficiaries
[0027] FIG. 3 is a block diagram of a payment card system 300
provided in accordance with aspects of the present disclosure.
[0028] The payment card system 300 may include all the components
described above in connection with FIG. 1, including a customer
device 102, a merchant device or system (labeled with reference
numeral 104a to reflect additional functionality it may provide in
the system 300), a transaction acquirer (labeled with reference
numeral 106a to reflect additional functionality it may provide in
the system 300), a card network (labeled with reference numeral
108a to reflect additional functionality it may provide in the
system 300), and a payment card issuer 110.
[0029] Further, the payment card system 300 may include a merchant
payment services computer 302. The merchant payment services
computer 302 may be in communication with the card network 108a,
and may be under common operation with the card network 108a. In
some embodiments, hardware making up the merchant payment services
computer 302 may at least partially overlap with one or more
computer systems that implement the card network 108a. Details of
the merchant payment services computer 302 will be described below.
In general, the merchant payment services computer 302 may receive
and store merchants' deposit account details, and may manage
execution of payments due from acquirers to merchants. For
embodiments in which the merchant payment services computer 302 is
under common operation with the card network 108a, or at least
partially overlaps therewith in hardware terms, actions ascribed
herein to the merchant payment services computer 302 may also be
deemed to have been performed by the card network 108a.
[0030] The payment card system 300 is further shown as
incorporating an originator payment services provider (O-PSP) 304.
The O-PSP may resemble item 204 described above in connection with
FIG. 2 and may be in communication with the merchant payment
services computer 302.
[0031] In addition, the payment card system 300 may include or be
in a cooperative relationship with a payment switch/network 306,
which may resemble item 206 described above in connection with FIG.
2. The payment switch/network 306 may be in communication with the
O-PSP 304.
[0032] Still further, the payment card system 300 is shown as
incorporating a beneficiary payment services provider (B-PSP) 308.
The B-PSP 308 may resemble item 208 described above in connection
with FIG. 2. The B-PSP 308 may be in communication with the payment
switch/network 306.
[0033] Communication channels or possible communication channels
are also shown from the acquirer 106a and the merchant system 104a,
respectively, to the merchant payment services computer 302.
[0034] The components 304, 306, 308 shown in FIG. 3 may be part of
an EFT system such as an ACH system.
[0035] Any one or more of the blocks shown in FIG. 3, in addition
to representing the indicated entity, may also be considered to
represent one or more computer systems operated by such entity.
[0036] FIG. 4 is a block diagram of an example embodiment of the
merchant payment services computer 302.
[0037] Referring now to FIG. 4, the merchant payment services
computer 302 may, in its hardware aspects, resemble a typical
server computer and/or mainframe computer, but may be controlled by
software to cause it to function as described herein.
[0038] The merchant payment services computer 302 may include a
computer processor 400 operatively coupled to a communication
device 401, a storage device 404, an input device 406 and an output
device 408. The communication device 401, the storage device 404,
the input device 406 and the output device 408 may all be in
communication with the processor 400.
[0039] The computer processor 400 may be constituted by one or more
processors. Processor 400 operates to execute processor-executable
steps, contained in program instructions described below, so as to
control the merchant payment services computer 302 to provide
desired functionality.
[0040] Communication device 401 may be used to facilitate
communication with, for example, other devices (such as other
components of the payment system 300, including the card network
108a, the O-PSP 308, the acquirer 106a and/or the merchant system
104a).
[0041] Communication device 401 may comprise numerous communication
ports (not separately shown), to allow the merchant payment
services computer 302 to communicate simultaneously with a number
of other computers and other devices, including communications as
required to simultaneously handle numerous interactions with other
devices.
[0042] Input device 406 may comprise one or more of any type of
peripheral device typically used to input data into a computer. For
example, the input device 406 may include a keyboard and a mouse.
Output device 408 may comprise, for example, a display and/or a
printer.
[0043] Storage device 404 may comprise any appropriate information
storage device, including combinations of magnetic storage devices
(e.g., hard disk drives), optical storage devices such as CDs
and/or DVDs, and/or semiconductor memory devices such as Random
Access Memory (RAM) devices and Read Only Memory (ROM) devices, as
well as so-called flash memory. Any one or more of such information
storage devices may be considered to be a computer-readable storage
medium or a computer usable medium or a memory.
[0044] Storage device 404 stores one or more programs for
controlling processor 400. The programs comprise program
instructions (which may be referred to as computer readable program
code means) that contain processor-executable process steps of the
merchant payment services computer 302, executed by the processor
400 to cause the merchant payment services computer 302 to function
as described herein.
[0045] The programs may include one or more conventional operating
systems (not shown) that control the processor 400 so as to manage
and coordinate activities and sharing of resources in the merchant
payment services computer 302, and to serve as a host for
application programs (described below) that run on the merchant
payment services computer 302.
[0046] The programs stored in the storage device 404 may include,
for example, an application program 410 for providing one or more
software interfaces to allow the merchant payment services computer
302 to receive input that provides details of merchant bank
accounts.
[0047] Another program that may be stored in the storage device 404
is a web hosting application program 412 for enabling the merchant
payment services computer 302 to host one or more web portals that
are accessible by merchants and/or acquirers to allow them to enter
or update merchant bank account details.
[0048] The storage device 404 may also store an application program
414 that programs the processor 400 to enable the merchant payment
services computer 302 to manage payments to merchants on behalf of
transaction acquirers. Details of the merchant payment application
program 414 will be described below.
[0049] The storage device 404 may further store one or more
software modules (block 416) that serve as software interfaces
between the merchant payment services computer 302 and one or more
O-PSPs that are constituents of the above discussed EFT system.
[0050] The storage device 404 may also store, and the merchant
payment services computer 302 may also execute, other programs,
which are not shown. For example, such programs may include
communications software and a reporting application. The latter
program may respond to requests from system administrators for
reports on the activities performed by the merchant payment
services computer 302. The other programs may also include, e.g.,
device drivers, database management software, etc.
[0051] Still further, the storage device 404 may store a database
418 that stores merchant bank account details that have been
uploaded to the merchant payment services computer 302. The storage
device 404 may also store one or more other databases 420 needed
for operation of the merchant payment services computer 302.
[0052] Other computerized components of the system 300 may be
constituted by computer hardware having the same type of components
and hardware architecture as described herein with reference to
FIG. 4.
[0053] FIG. 5 is a flow chart that illustrates a process that may
be performed in the system of FIG. 3 in accordance with aspects of
the present disclosure.
[0054] At 502 in FIG. 5, the merchant payment services computer 302
receives the merchant bank account details. In some embodiments,
there may be three or more ways in which the merchant bank account
details are received by the merchant payment services computer 302.
These may include, for example: (a) the acquirer sending to the
merchant payment services computer 302 a batch file containing
merchant bank account details for a number of merchants supported
by the acquirer; (b) uploading of merchant bank account detail by
the acquirer to the merchant payment services computer 302 via a
direct API; (c) merchant interaction with a merchant self-serve
portal, as referred to above; and (d) one or more portals available
for use by acquirer support personnel. Such portals may be made
available by one or more of (i) a web service API that interacts
with the acquiring system; (ii) a web portal for access by customer
support staff from the acquirer's perspective; and (iii) a portal
hosted by the merchant payment services computer 302 for access by
merchants. The latter portal may serve as a "one stop shop" to
allow the merchants to access acquiring services such that the
merchants may make relevant changes to their payment bank account
details and to access reports providing payment schedules and
payment history for a given merchant's records.
[0055] The latter portal may also provide merchant registration by
merchants directly and also access to acquirer support staff to
enter details. FIG. 6 is a flow chart that illustrates an
embodiment of such a process. At 602 in FIG. 6, the
merchant/merchant staff member may enter the necessary data to
identify the merchant and the merchant's bank account information.
At 604 in FIG. 6, communication may occur between the merchant
payment services computer 302 and the merchant/merchant staff
member to satisfy "know your customer" compliance requirements.
This may involve submission of suitable documentation (e.g.,
scanned facsimiles of documents) by the merchant and review of the
same by system employees.
[0056] At 606 in FIG. 6, the merchant payment services computer 302
may engage in suitable ID&V (identification and verification)
processes to assure authentication of the merchant engaging in the
registration. (A similar ID&V process may occur when the
merchant updates its registration data.)
[0057] At 608, the merchant payment services computer 302 may
confirm to the merchant that the registration process is
complete.
[0058] When the merchant-related data is uploaded by the acquirers,
the uploaded data may include such relevant information as bank
account details (bank, routing number and bank account number),
MDR, service fees, and frequency of payments.
[0059] Referring again to FIG. 5, at 504, the merchant payment
services computer 302 stores the merchant bank account details and
other data uploaded by the acquirers and/or merchants.
[0060] As indicated at 506, further processing may occur at a later
time after the merchant bank account details are received and
stored by the merchant payment services computer 302. At the later
time, the merchant payment services computer 302 may manage
payments to merchants (block 508, FIG. 5) in regard to payment card
account transactions involving the merchants. In doing so, the
payments may be based on information collected by and made
available from the card network 108a (FIG. 3). The card network
108a may have all the transaction details from the merchants and
the acquirers and thus may enable the merchant payment services
computer 302 to be informed of the merchants' net positions and to
make payments accordingly directly to the merchants on behalf of
the acquirers.
[0061] FIG. 7 is a flow chart that illustrates details of the
processing that may occur at 506.
[0062] At 702 in FIG. 7, the merchant payment services computer 302
may receive card account transaction information for the merchant
over a period of time (say, one day).
[0063] At 704, the merchant payment services computer 302 may apply
the "MDR" (merchant discount rate) that is in effect between the
merchant and the merchant's acquiring financial institution.
[0064] At 706, the merchant payment services computer 302 may
calculate the merchant's net position vis a vis the acquirer,
taking the MDR and any current charge-back transactions into
account.
[0065] At 708, the merchant payment services computer 302 may
initiate an EFT transaction to transfer--to the merchant--the
merchant's net balance owed from the acquirer. This transaction may
be a credit push payment via an EFT system, as represented by
blocks 304, 306 and 308 in FIG. 3.
[0066] In various embodiments, or various situations, for a given
merchant, the EFT transaction referred to at 708 may occur daily,
or at regular times more frequently than daily, or in response to
each payment card account system transaction that is accepted by
the merchant and authorized by the account issuer, or each time a
threshold balance due to the merchant is reached, or less
frequently than daily; or some combination of the foregoing.
[0067] In some embodiments, the merchant payment services computer
302 may keep a running total of the amount due to the merchant from
the acquirer. In cases where the funds transfer to the merchant is
triggered by reaching a positive balance threshold, the acquirer
may have set the threshold in accordance with its service agreement
with the merchant and as part of the merchant registration
performed by the acquirer.
[0068] In situations where the merchant is the debtor, then the
merchant may be provided an opportunity through the merchant
self-serve portal to initiate a push payment transaction to the
acquirer to settle the merchant's obligation to the acquirer. FIG.
8 is a flow chart that illustrates a process whereby a merchant
settles an obligation to the acquirer.
[0069] At decision block 802 in FIG. 8, the merchant payment
services computer 302 determines whether the merchant's net
position is such that the merchant owes money to the acquirer. If a
positive determination is made at decision block 802, then block
804 may follow decision block 802. (In the absence of a positive
determination at decision block 802, the process of FIG. 8 may
end.) At block 804, the merchant payment services computer 302 may
send a message such as a text message or an email message to the
merchant to advise the merchant that the merchant has a negative
balance vis a vis the acquirer.
[0070] A decision block 806 may follow block 804. At decision block
806, the merchant payment services computer 302 may determine
whether the merchant has requested that a transfer occur to settle
the merchant's obligation to the acquirer. If so, then block 808
may follow decision block 806. (In the absence of a positive
determination at decision block 806, the process of FIG. 8 may
end.) At 808, the merchant payment services computer 302 may
initiate an EFT transfer charged to the merchant's account and to
benefit the acquirer in order to settle the merchant's
obligation.
[0071] An arrangement as described with reference to FIGS. 3-8 may
simplify management of merchants by acquirers and at the same time
may provide merchants with quick access to cash at their bank
deposit accounts in respect to payment card account system
transactions accepted by the merchant.
[0072] As used herein and in the appended claims, the term
"computer" should be understood to encompass a single computer or
two or more computers in communication with each other.
[0073] As used herein and in the appended claims, the term
"processor" should be understood to encompass a single processor or
two or more processors in communication with each other.
[0074] As used herein and in the appended claims, the term "memory"
should be understood to encompass a single memory or storage device
or two or more memories or storage devices.
[0075] As used herein and in the appended claims, a "server"
includes a computer device or system that responds to numerous
requests for service from other devices.
[0076] The above descriptions and illustrations of processes herein
should not be considered to imply a fixed order for performing the
process steps. Rather, the process steps may be performed in any
order that is practicable, including simultaneous performance of at
least some steps.
[0077] As used herein and in the appended claims, the term "payment
card system account" includes a credit card account, a deposit
account that the account holder may access using a debit card, a
prepaid card account, or any other type of account from which
payment transactions may be consummated. The terms "payment card
system account" and "payment card account" and "payment account"
are used interchangeably herein. The term "payment card account
number" includes a number that identifies a payment card system
account or a number carried by a payment card, or a number that is
used to route a transaction in a payment system that handles
payment card transactions. The term "payment card" includes a
credit card, debit card, prepaid card, or other type of payment
instrument, whether an actual physical card, electronic, or
virtual.
[0078] As used herein and in the appended claims, the term "payment
card system" or "payment account system" refers to a system for
handling purchase transactions and related transactions. An example
of such a system is the one operated by MasterCard International
Incorporated, the assignee of the present disclosure. In some
embodiments, the term "payment card system" may be limited to
systems in which member financial institutions issue payment card
accounts to individuals, businesses and/or other organizations.
[0079] Although the present invention has been described in
connection with specific example embodiments, it should be
understood that various changes, substitutions, and alterations
apparent to those skilled in the art can be made to the disclosed
embodiments without departing from the spirit and scope of the
invention as set forth in the appended claims.
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