Computer system and computer-implemented method for processing a payment transaction at a point-of-sale terminal

US11074564B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Arunmurthy Gurunathan · Pune, IN
• Ravi Pareek · Ashti, IN
• Ganesh Shinde · Pune, IN

Key dates

• Filing date: Oct 10, 2018
• Grant date: Jul 27, 2021
• Expiry date: Dec 23, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G07G1/0009
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A payment network server for processing a payment transaction at a point-of-sale terminal is described. The server comprises a transaction module, a query module and a transfer module. The transaction module is configured to: (i) receive a payment transaction request comprising at least transaction details and a fund transfer indicator, the transaction details comprise at least a customer identifier, a merchant identifier, and a payment amount, the fund transfer indicator indicating that the payment transaction is to be processed by fund transfer; and (ii) transmit a payment transaction response indicating if the payment transaction is approved or refused to proceed.