Electronic couponing for payment processing

Abstract

Embodiments of the present invention provide a method, system and computer program product for electronic couponing for payment processing. In an embodiment of the invention, an electronic couponing method for payment processing can include receiving a transaction profile for a proposed transaction as payment for a purchase by a purchaser from a merchant at a card processing terminal configured to identify a card number for a card. The method also can include presenting a coupon in the card processing terminal responsive to the transaction profile. Yet further, the method can include prompting the purchaser to redeem the coupon through the card processing terminal. Finally, the method can include reducing a payment amount for the proposed transaction if the purchaser redeems the coupon through the card processing terminal and routing the proposed transaction to a payment processor for payment processing.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a Continuation under 35 U.S.C. §120 of U.S. patent application Ser. No. 12 / 608,794, filed Oct. 29, 2009, entitled “ PAYMENT PROCESSING SYSTEM, METHOD AND COMPUTER PROGRAM PRODUCT,” the entire teachings of which are incorporated herein by reference.BACKGROUND OF THE INVENTION[0002]1. Field of the Invention[0003]The present invention relates to the field of payment processing and more particularly to debit card and credit card processing of retail transactions.[0004]2. Description of the Related Art[0005]For centuries, the retail sale of goods and services has permitted not just payment in hard currency, but also payment by way of a promise to provide hard currency. Raw forms of credit result from a mere promise--an account or “tab”. Modern sophisticated forms of credit include credit accounts, such as those represented by a credit card. More recent advancements in payments systems include the notion of a debit account o...

AI Technical Summary

Benefits of technology

"The present invention provides a novel and non-obvious method for electronic couponing for payment processing. The method involves receiving a transaction profile for a proposed transaction as payment for a purchase by a purchaser from a merchant at a card processing terminal. A coupon is then presented in the card processing terminal responsive to the transaction profile. The coupon is prompted for redemption by the purchaser through the card processing terminal, and the payment amount for the proposed transaction is reduced if the coupon is redeemed. The proposed transaction is then routed to a payment processor for payment processing. This invention improves the efficiency and accuracy of processing payments, and enhances the experience of the purchaser and merchant."

Problems solved by technology

Specifically, the use of a merchant account can result in the occurrence of a variety of fees, some periodic, and others charged on a per-item or percentage basis.

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