Transaction ID system and process
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United States of America Patent
Stats
-
Mar 27, 2012
Grant Date -
Jan 12, 2006
app pub date -
Jun 30, 2005
filing date -
Oct 31, 2000
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system and process for creating, maintaining, and using transaction identifiers, i.e. a transaction DNA, is provided. The DNA, along with other transactional information, is sent through a set of intermediary entities as found in a standard transaction processing system. The DNA is based on information that may include source ID, merchant ID, and order ID. The order ID is a unique number that can be generated by the merchant. The DNA is maintained throughout the lifecycle of the transaction, including authorization requests, settlement requests, and exception item processing. The DNA allows the bank to provide precise transactional matching to the original transaction for the merchant, making reconciliation always possible, fast, and automatic, and ensuring information is presented in a manner that the merchant chooses.
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