7 results about "Payment processor" patented technology

A method for establishing a cross-issuer chargeback fraud detection system includes receiving a fraud analysis request for one or more chargebacks from a payment processor using an Application Programming Interface (API) over a computer network, extracting identifying information of transactions associated with the one or more chargebacks from the fraud analysis request, searching for a fraud analysis profile linked to the extracted identifying information in a profile database, determining whether the fraud analysis profile linked to the extracted identifying information exists in the profile database, upon determining that the fraud analysis profile linked to the extracted identifying information does not exist in the profile database, retrieving historical transaction data associated with the extracted identifying information from a historical transaction database, retrieving reported fraudulent activities from one or more financial institutions associated with the extracted identifying information, and aggregating the retrieved historical transaction data and reported fraudulent activities.

Systems and methods are provided for a banking system that permits automatic generation of a second financial account using the account holder information associated with the first financial account. Account holders to reserve funds for future bill payments in a second financial account. The account holders may submit a bill reservation request that identifies a scheduled bill event with an associated bill amount to be paid from a first financial account via a payment processor. After receipt of the bill reservation request from the account holder, the banking system transfers funds equal to the bill amount identified in the bill reservation request from the first financial account to the second financial account. The banking system also instructs the payment processor to withdraw the bill amount identified in the bill reservation request from the second financial account instead of the first financial account. In this manner, an account holder may seamlessly reserve a portion of the first financial account for an upcoming bill in a manner that the account holder is prevented from accessing the reserved funds ahead of the bill payment.

Systems and methods are directed to a supply chain liquidity platform that includes a transaction manager configured to receive requests associated with the supply chain liquidity platform. An accounts receivable (A / R) data store can record, for various entities associated with the supply chain liquidity platform, authenticated A / R to be paid to the various entities, while an accounts payable (A / P) data store can record, for various entities associated with the supply chain liquidity platform, authenticated A / P to be paid by the various entities. In operation, a payment processor, in response to the authenticated A / R, disburses a discount payment for the authenticated A / R to the associated entity, and provides an investor that funds the discount payment with an investment payment that includes at least the funds and an additional interest payment.

The present disclosure relates to a payment processing system and a method for automatic payment method transmission to merchants. The method comprises providing a list of plurality of merchants to a user for receiving a user selection on at least one of the plurality of merchants for performing one or more transactions. In response to the user selection, the method comprises authenticating the user, based on user details provided by the user, for authorizing the user to set one or more payment methods for the at least one of the plurality of merchants selected by the user. Subsequently, method comprises transmitting the user details, user authorization and the one or more payment methods set by the user to a payment processor associated with each of the plurality of merchants selected by the user. Finally, the method comprises receiving a merchant confirmation on acceptance of the one or more payment methods set by the user from the at least one of the plurality of merchants selected by the user. In some embodiments, the above process may be also used to delete the one or more payment methods set with the plurality of merchants selected by the user and / or delete a merchant from the list of the plurality of merchants selected by the user.

A transaction is conducted between a merchant site and a customer's electronic device using a payment processor. The merchant site is associated with a client-side application and a server-side application. The client-side application executes on the customer's electronic device. The client-side application electronically sends payment information retrieved from the customer's electronic device to the payment processor. The client-side application does not send the payment information to the server-side application. The payment processor creates a token from the payment information sent by the client-side application. The token functions as a proxy for the payment information. The payment processor electronically sends the token to the client-side application. The client-side application electronically sends the token to the server-side application for use by the server-side application in conducting the transaction. The payment information can thus be used by the server-side application via the token without the server-side application being exposed to the payment information.

A token-based biometric payment processing system facilitates point-of-sale (POS) processing of payments. A biometric identification provider (BIP) receives a single-use token (SUT) from a payment processor (PP). The SUT is associated at the PP with a payment account on file (PAOF) and with an identity at the BIP. Upon identification at a scanner by the BIP, the SUT is processed to generate payment data (PMT) that is secured. The PMT is sent to the scanner, which forwards the PMT to a PP terminal using a communication interface and protocol. The communication interface and protocol may use existing contactless approaches, such as those used for mass transit cards, allowing the scanner to communicate with a wide array of PP terminals. The PP terminal then sends the PMT on to the PP. The PP receives the PMT and, if the PMT is valid, initiates a transaction to transfer funds from the PAOF.

Systems and methods for payment processing include receiving, by a payment terminal, a personal account number to complete a payment. The personal account number is encrypted by the payment terminal. The encrypted personal account number is sent from the payment terminal to a merchant server via a network. The encrypted personal account number is sent from the merchant server to a tokenization service provider server for tokenization and validation via a payment processor. The merchant server receives an indication of whether the transaction was successful and a token from the tokenization service provider server.