System and method of account reconciliation for electronic transactions
US8204824B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 17, 2008 |
| Grant date | Jun 19, 2012 |
| Priority date | — |
| Expiry date | Aug 10, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A transaction process system (10) provides for data transactions between parties. In a credit card transaction, the parties are the merchant (20), acquiring bank (24), card association (34), issuing bank (14), and cardholder (12). A transaction processing center (30) is positioned between the acquiring bank and the card association. The transaction processing center provides data processing channels for message-based processing (72) and filed-based processing (76). The file-based processing uses an incoming queue (80) and outgoing queue (84) to simplify the interface. The transaction processing center also provides for currency conversions and account reconciliation on a per transaction basis. The transaction processing center uses a scheduler (160) to efficiently manage the data processing resources and an account reconciliation processor (200) to identify discrepancies and initiate corrective action.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.