Method and system for emulating a private label over an open network
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United States of America Patent
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May 1, 2012
Grant Date -
Jun 17, 2010
app pub date -
Feb 18, 2010
filing date -
Jun 20, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
According to one embodiment, the present invention relates to a method and a system for emulating a private label network over an open network where settlement occurs at varying discount rates with one or more merchants or providers. A computer implemented method and system for settling a transaction at a discount rate may include receiving an authorization record for the transaction initiated by a customer over an open payment network; identifying payment plan data associated with a transaction; creating a settlement record based at least in part on the authorization record and the payment plan data; determining a discount rate for the settlement record; and settling with a provider for the transaction at the discount rate.
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