Interactive Payment Card Processing System with Application Services

• Main Authors: Louthan, Robert P, Brady, Patrick K
• Format: Patent
• Language: English
• Published: 17.10.2024
• Subjects: 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

A purchase message is received when an affinity credit card holder makes a purchase. The credit card holder and the merchant are determined from the message. A discount is determined from a database. A discount amount is calculated from the discount. An entry is created for the discount amount from a merchant to the affinity credit card holder in the database. A process is periodically executed that searches the database for discounts that occurred within a time period. Discount amounts are summed for each merchant. A merchant funds transfer is communicated to a payment processor that transfers each discount amount for each merchant from a bank account of each merchant to a bank account of the affinity company. A card holder funds transfer is communicated to a payment processor that transfers the discount amount from the bank account of the affinity company to the credit card holder.