Systems and methods for managing transactions for a merchant

Patent metadata

Field	Value
Publication number	US-11416845-B2
Application number	US-201916697759-A
Country	US
Kind code	B2
Filing date	Nov 27, 2019
Priority date	Apr 18, 2012
Publication date	Aug 16, 2022
Grant date	Aug 16, 2022

Abstract

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.

First claim

What is claimed is:

1. A computer-based method for managing payment transactions using a real-time merchant account activation process for a merchant using a service provider computing device coupled to a memory device, wherein the real-time merchant account activation process includes a primary approval process and a secondary approval process, and wherein each transaction is initiated by a consumer using a payment card and accepted by the merchant using a merchant smart phone, said method comprising:
receiving, at the service provider computing device, a registration request from a merchant computing device associated with a candidate merchant, the registration request initiated using a merchant manager module of the service provider computing device, the registration request requesting an activation of a merchant account and including registration data associated with the candidate merchant;
causing the merchant manager module of the service provider computing device to execute the primary approval process for registering and underwriting the candidate merchant with an acquiring bank in real-time using at least some of the registration data, wherein the primary approval process includes i) retrieving a high risk merchant list from the memory device, ii) comparing the candidate merchant to the high risk merchant list, iii) approving the candidate merchant under the primary approval process if the comparison generates a no match for the candidate merchant, wherein a no match indicates a low risk that the candidate merchant is a high risk merchant, and iv) verifying the candidate merchant as a result of the comparison;
causing the merchant manager module to transmit, from the service provider computing device, in real-time, an account request message to an acquiring bank computer device associated with the acquiring bank upon approval by the primary approval process, the account request message requesting an opening of the merchant account for the verified candidate merchant with the acquiring bank, wherein the account request message includes the registration data, wherein the registration data comprises pre-determined merchant data elements required by the acquiring bank as a prerequisite to agreeing in real-time to underwrite payment transactions submitted through the merchant manager module;
causing the acquiring bank computer device, in response to determining approval of the candidate merchant under the primary approval process and receiving the account request message from the service provider computing device, to automatically perform the secondary approval process for registering the candidate merchant in real-time, wherein the secondary approval process includes storing the verified candidate merchant as a registered merchant, and generating merchant account data for the verified candidate merchant;
receiving, at the merchant manager module of the service provider computing device, in real-time, the merchant account data from the acquiring bank computer device, the merchant account data representing an agreement by the acquiring bank to underwrite payment transactions submitted by the candidate merchant to the merchant manager module, the verified candidate merchant becoming a registered merchant in real-time upon secondary approval;
the secondary approval process causing the acquiring bank computer device to create the merchant account for the registered merchant;
based on the created merchant account, transmitting a credential request message from the merchant manager module of the service provider computing device to a payment processor computing device requesting the provisioning of registered merchant credentials for the registered merchant from the payment processor computing device after the merchant account data is received, wherein the registered merchant credentials include security keys for the merchant to access and communicate with the merchant manager module during a first payment transaction;
causing the payment processor computing device to generate, in response to the credential request message, a gateway account and associated registered merchant credentials enabling the registered merchant to immediately perform the first transaction and receive an amount of funds associated with the first transaction, wherein the gateway account is different from the merchant account;
receiving, at the merchant manager module, the gateway account and associated registered merchant credentials from the payment processor computing device, wherein the associated registered merchant credentials include access data, and wherein the access data enables the merchant computing device to interface with the merchant manager module for processing payment card transactions;
after the secondary approval process is completed, receiving, from the merchant smart phone associated with the registered candidate merchant, a request to access a dashboard application served by the service provider computing device, the dashboard application enabling access to a plurality of merchant manager applications including a payment application;
receiving, from the merchant smart phone via an interaction with the payment application served to the merchant smart phone, transaction data associated with the first payment transaction and the merchant account data;
processing, at the merchant manager module using the gateway account and associated registered merchant credentials, the first payment transaction; and
determining whether or not to approve the first payment transaction by:
submitting transaction information to a fraud detection application to perform a real-time assessment of the first payment transaction;
generating, based on the real-time assessment of the first payment transaction, a risk decision that indicates whether or not to approve the first payment transaction; and
causing the merchant manager module of the service provider computing device, based on the generated risk decision, to i) approve and complete the processed first payment transaction, or (ii) decline and reverse the processed first payment transaction.

2. A computer-based method in accordance with claim 1 , wherein receiving a registration request from the merchant computing device further comprises:
receiving, at the service provider computing device, a registration request including registration data associated with the candidate merchant, the registration data including at least one of a legal name, a statement name, a URL (Uniform Resource Locator), a description, a customer service phone number, a business address, a business city, a business state, a business zip code, a business state of filing, a business start date, a business type, a tax id/EIN, an owner first name, an owner last name, an owner address, an owner city, an owner state, an owner zip code, a social security number, a date of birth, a phone number, a mobile phone number, a bank name, a routing number, an account number, an average payment amount, an average number of payments monthly, a maximum payment amount, whether the merchant ships goods (Y/N), and a typical number of days to delivery.

3. A computer-based method in accordance with claim 1 , further comprising:
completing the real-time merchant account activation process in less than 30 seconds.

4. A computer-based method in accordance with claim 1 , further comprising:
storing the registered merchant credentials within the memory device; and
notifying the registered merchant of account activation, wherein the registered merchant is then approved to submit payment transactions initiated by consumers using payment cards to the merchant manager module.

5. A computer-based method in accordance with claim 1 , wherein the plurality of merchant manager applications accessible from the dashboard application further includes at lea

Assignees

• Mastercard International Inc

Inventors

• Barta Deborah
• Brown David C
• Hosp Adam K
• Wickman Matthew
• Monroe Joshua G

Classifications

• G06Q20/34 Primary

  using cards, e.g. integrated circuit [IC] cards or magnetic cards · CPC title

• G06Q20/12 Primary

  specially adapted for electronic shopping systems · CPC title