Delayed processing window in a prepaid architecture
US10147112B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 26, 2013 |
| Grant date | Dec 4, 2018 |
| Priority date | — |
| Expiry date | Dec 26, 2033 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for maintaining a prepaid payment system comprises a user account that can be utilized to complete a purchase transaction with a merchant. A delayed processing window is introduced between a time when the merchant receives a payment approval notification from the payment system and a time when the payment system transmits a payment request to an issuer of a funding account associated with the user's payment system account. The payment system utilizes a user's stored value account maintained by the payment system to satisfy the requirements of a prepaid program, and therefore processes the payment request received from the merchant and transmits the payment approval notification without obtaining prior authorization from the issuer of the funding account. The payment system submits one or more payment requests for the funding transaction at a time after the completion of the purchase transaction between the user and the merchant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.