Importance

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Abstract

A method for processing a fleet card transaction includes: storing, in a merchant file database, a plurality of merchant profiles, wherein each merchant profile includes at least a merchant identifier and at least one loop type identifier; receiving, by a receiving device and from a merchant device, an authorization request for a payment transaction, wherein the authorization request includes transaction data including at least a merchant identifier and a payment card identifier; identifying, by a processing device, the loop type identifier associated with the received transaction data; determining, by the processing device, whether to route the authorization request to one of a closed loop network and an open loop network based upon the loop type identifier associated with the received transaction data; and transmitting, by a transmitting device, the authorization request to a third party entity associated with either the closed loop network or the open loop network.

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First Claim