Method and system for processing financial transactions
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United States of America Patent
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N/A
Issued Date -
Jan 26, 2006
app pub date -
Jul 21, 2004
filing date -
Jul 21, 2004
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method and system for processing financial transactions by receiving a payment transaction as an Issuing Payment Processor, converting the payment into one or more derivative transactions based on a defined rules set, and then sending, as a Merchant Payment Processor, the resulting derivative transaction or transactions to another Issuing Payment Processor, resulting in real-time settlement, faster and less costly implementation of discount, gift, and loyalty programs, and enhanced member credit card security and privacy.
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