System and method for optimal selection of payment authorizations in complex commerce systems
US7533060B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 19, 2006 |
| Grant date | May 12, 2009 |
| Priority date | — |
| Expiry date | Jul 19, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for optimal selection of payment authorization in a complex commerce system is presented. A commerce system uses an algorithm to select an optimum payment authorization for a particular payment deposit. The algorithm allows the commerce system to support multiple types of authorizations while minimizing the number of payment transactions if possible. The algorithm also handles payment instrument priority, sufficient authorization amount availability, and a selection of a favorable set of payment authorizations for which to apply the payment deposit. Once the algorithm selects an optimum payment authorization for a particular payment deposit, the commerce system applies the payment deposit towards the optimum payment authorization in order to receive funds from an external payment provider.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.