System and method for applying stored value to a financial transaction
US9292852B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2010 |
| Grant date | Mar 22, 2016 |
| Priority date | — |
| Expiry date | Jul 24, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A transaction processing service operates as an intermediary between acquirers of financial transaction requests and issuing institutions that process the financial transaction requests. The intermediary receives an authorization request generated based on a transaction initiated by a customer at a point of purchase. The intermediary service then determines one or more stored value items that can be applied to the transaction. Stored value items may be determined based on the customer's identity or based on transaction characteristics, such as the point of purchase or the transaction items. The service sends a transaction notification to a mobile device associated with the customer to notify the customer of the available stored value items. The service then applies the stored value items to pay a portion of the transaction amount and initiates a payment process to pay the remainder of the transaction amount.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.