Systems and methods for optimizing transaction authorization conversion rate

US10607231B1 · kind B1 · utility

Assignee

• Worldpay, LLC · US

Inventors

• William H. Cohn · Lexington, US
• Sayid Shabeer · Ashland, US
• Ned Canning · Boston, US

Key dates

• Filing date: Sep 27, 2017
• Grant date: Mar 31, 2020
• Expiry date: Sep 22, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4018
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for optimizing transaction authorization conversion rates includes retrieving payment transaction parameters and authorization results for a plurality of past payment transactions, generating authorization success factors for each of a plurality of payment transaction parameters based on the retrieved payment transaction parameters and authorization results, receiving, at an acquirer processor, a payment transaction from a merchant, modifying one or more parameters of the payment transaction according to the generated authorization success factors, and submitting the modified payment transaction to a financial institution for processing.