SYSTEMS AND METHODS FOR MANAGING TRANSACTIONS FOR A MERCHANT

SYSTEMS AND METHODS FOR MANAGING TRANSACTIONS FOR A MERCHANT

A method and system for managing payment transactions for a merchant using a computing device coupled to a memory device is described. Each transaction is initiated by a consumer using a payment card. The method includes receiving a registration request from a candidate merchant for enrollment withi...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: Brown, David C, Barta, Deborah, Hosp, Adam K, Monroe, Joshua G, Wickman, Matthew
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:A method and system for managing payment transactions for a merchant using a computing device coupled to a memory device is described. Each transaction is initiated by a consumer using a payment card. The method includes receiving a registration request from a candidate merchant for enrollment within a manager module wherein the registration request includes registration data associated with the candidate merchant, executing a primary approval process using at least some of the registration data, and transmitting an account request message requesting an opening of a merchant account for the candidate merchant with an acquiring bank upon approval. The method further includes receiving, in real-time, merchant account data associated with the candidate merchant from the acquiring bank upon approval by a secondary approval process wherein the candidate merchant becomes a registered merchant upon the secondary approval. The method further includes managing a first payment transaction submitted by the registered merchant.