Routing methods and systems for increasing payment transaction volume and profitability
US6999943B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 10, 2000 |
| Grant date | Feb 14, 2006 |
| Priority date | — |
| Expiry date | Mar 10, 2020 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Customers often have access to multiple payment methods for any given transaction. In one embodiment of the invention, a merchant obtains information regarding multiple payment methods from a customer, and sends said information to a transaction evaluator. Via computer networks, the transaction evaluator sends information about the transaction to the issuers of one or more of the payment methods. The issuers perform a cost/benefit analysis of the transactions and respond with a description of the terms under which they are willing to process the transaction. Based on the issuer response, the transaction evaluator selects one of the payment methods. By enabling participating issuers to select favorable transactions and avoid unprofitable ones, the invention can thus improve issuer profitability by directing profitable transactions to participating issuers while directing unprofitable transactions away from participating issuers or to alternate transaction methods that are more profitable or less costly.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.