CA2396006A1 - Automated system and method for monitoring financial transactions - Google Patents

Automated system and method for monitoring financial transactions Download PDF

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Publication number
CA2396006A1
CA2396006A1 CA002396006A CA2396006A CA2396006A1 CA 2396006 A1 CA2396006 A1 CA 2396006A1 CA 002396006 A CA002396006 A CA 002396006A CA 2396006 A CA2396006 A CA 2396006A CA 2396006 A1 CA2396006 A1 CA 2396006A1
Authority
CA
Canada
Prior art keywords
merchant
credit card
automated system
financial transactions
merchant account
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Granted
Application number
CA002396006A
Other languages
French (fr)
Other versions
CA2396006C (en
Inventor
Timothy L. O'mara
Margot Luna-Victoria
Daniel B. Spalt
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
First Data Corp
Original Assignee
First Data Corporation
Timothy L. O'mara
Margot Luna-Victoria
Daniel B. Spalt
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by First Data Corporation, Timothy L. O'mara, Margot Luna-Victoria, Daniel B. Spalt filed Critical First Data Corporation
Publication of CA2396006A1 publication Critical patent/CA2396006A1/en
Application granted granted Critical
Publication of CA2396006C publication Critical patent/CA2396006C/en
Anticipated expiration legal-status Critical
Expired - Lifetime legal-status Critical Current

Links

Classifications

    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
    • G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
    • G07F7/0866—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means by active credit-cards adapted therefor
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/20—Point-of-sale [POS] network systems
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G06Q20/363—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes with the personal data of a user
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/03—Credit; Loans; Processing thereof

Abstract

An automated system and method which monitors the cash flow of a merchant account and maintains a minimum balance for each merchant account based upon allowable delays. See Figure 1. The system includes a transaction processor (10) in communication with the merchant credit card processor (12), a merchant database and a plurality of credit card issuers (28, 30, 32, 34). The transaction processor facilitates the flow of credit card transaction data by withholding a fraction of the net transactional amount based on transactional parameters to maintain a minimum merchant account balance.
CA002396006A 1999-12-29 2000-12-27 Automated system and method for monitoring financial transactions Expired - Lifetime CA2396006C (en)

Applications Claiming Priority (3)

Application Number Priority Date Filing Date Title
US09/474,572 US6490568B1 (en) 1999-12-29 1999-12-29 Automated system and method for monitoring financial transactions
US09/474,572 1999-12-30
PCT/US2000/035370 WO2001050384A1 (en) 1999-12-29 2000-12-27 Automated system and method for monitoring financial transactions

Publications (2)

Publication Number Publication Date
CA2396006A1 true CA2396006A1 (en) 2001-07-12
CA2396006C CA2396006C (en) 2006-12-05

Family

ID=23884124

Family Applications (1)

Application Number Title Priority Date Filing Date
CA002396006A Expired - Lifetime CA2396006C (en) 1999-12-29 2000-12-27 Automated system and method for monitoring financial transactions

Country Status (5)

Country Link
US (1) US6490568B1 (en)
EP (1) EP1242957A4 (en)
AU (1) AU2600901A (en)
CA (1) CA2396006C (en)
WO (1) WO2001050384A1 (en)

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US8306907B2 (en) 2003-05-30 2012-11-06 Jpmorgan Chase Bank N.A. System and method for offering risk-based interest rates in a credit instrument
US8396792B1 (en) 2003-09-10 2013-03-12 Propay Usa. Inc. Dynamically specifying a merchant identifier in an electronic financial transaction
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US7814003B2 (en) 2003-12-15 2010-10-12 Jp Morgan Chase Billing workflow system for crediting charges to entities creating derivatives exposure
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Also Published As

Publication number Publication date
CA2396006C (en) 2006-12-05
EP1242957A4 (en) 2006-03-08
US6490568B1 (en) 2002-12-03
AU2600901A (en) 2001-07-16
WO2001050384A1 (en) 2001-07-12
EP1242957A1 (en) 2002-09-25

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Legal Events

Date Code Title Description
EEER Examination request
MKEX Expiry

Effective date: 20201229