Method and system for processing electronic payment transactions
US7577599B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 12, 2004 |
| Grant date | Aug 18, 2009 |
| Priority date | — |
| Expiry date | Jul 11, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods are provided for processing electronic payment transaction information. A transaction software engine operating in a server at a merchant's site effectuates the authorization of electronic payment requests and the settlement of authorized electronic payments. Authorization requests are sent by a terminal at the merchant's site to the server as each transaction occurs. Batches of settlement requests are processed after a predetermined time, although the transactions are processed on a transaction-by-transaction basis. The transaction software engine is capable of accepting data of varying formats and re-encoding such data so that it can be processed by a host associated with a data transaction provider. Accordingly, the transaction software engine processes data received from a variety of terminals as well as data sent to and received from a variety of data transaction providers.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.