REAL-TIME INTERCHANGE FEE ESTIMATION

REAL-TIME INTERCHANGE FEE ESTIMATION

Few merchants are in a position to understand how changes to processes or procedures may alter the issuer risk and/or subsequent transaction processing costs. Merchants would prefer to be provided with estimated Interchange fees associated with a financial transaction in real-time. To provide a merc...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: GLENN KENT R, GWYNN JASON J, ORNCE MATTHEW R, PILE STEVE H
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:Few merchants are in a position to understand how changes to processes or procedures may alter the issuer risk and/or subsequent transaction processing costs. Merchants would prefer to be provided with estimated Interchange fees associated with a financial transaction in real-time. To provide a merchant with an estimated Interchange fee in real-time, a financial transaction request may be received from the merchant and used to determine the estimated Interchange fee. The estimated Interchange fee may then be transmitted to a merchant in real-time. The estimated Interchange fee may be representative of an actual Interchange fee associated with a financial transaction. Estimated Interchange fees may be provided as part of an authorization or settlement processing method.