Processing payment refunds for invalid payment instruments
US10475006B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 22, 2017 |
| Grant date | Nov 12, 2019 |
| Priority date | — |
| Expiry date | Sep 22, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/016
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A refund processing system and method for automatically processing refunds to a mobile payment account of a customer is provided. The method includes the steps of receiving sales transaction information from a transaction records database, in response to a request from a point of sale device when a refund for an item is initiated, transmitting the sales transaction information to calculate an amount of funds to be refunded to a payment instrument, detecting that the payment instrument is not valid while attempting to apply the refund, and determining whether an electronic gift card is currently associated with the mobile payment account of the customer, and if so, applying the refund to the electronic gift card, and if not, creating a new electronic gift card and applying the amount of funds to the new electronic gift card.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.