WO2006014340A2 - Transaction id system and process - Google Patents
Transaction id system and process Download PDFInfo
- Publication number
- WO2006014340A2 WO2006014340A2 PCT/US2005/023462 US2005023462W WO2006014340A2 WO 2006014340 A2 WO2006014340 A2 WO 2006014340A2 US 2005023462 W US2005023462 W US 2005023462W WO 2006014340 A2 WO2006014340 A2 WO 2006014340A2
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- identifier
- merchant
- settlement
- request
- transaction
- Prior art date
Links
Classifications
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- 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
- G06Q30/00—Commerce
- G06Q30/06—Buying, selling or leasing transactions
-
- 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
- G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
- G06Q20/102—Bill distribution or payments
-
- 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
Definitions
- the invention relates to electronic transactions. More particularly, the invention relates to a system and process for establishing and maintaining a transaction ID that enables a merchant to track a transaction over all systems and tie back any activity against such transaction over time.
- an e- commerce transaction can include: a merchant server makes a request for funds; the transactional data is sent to the acquirer server, which sends the transactional data to the card association server for verifying compliance with the credit card association; the transaction is then forwarded to an associated issuing bank server for funds availability and settlement determination. Upon such determination, the transaction is then re-routed backwards through the process.
- a merchant server makes a request for funds
- the transactional data is sent to the acquirer server, which sends the transactional data to the card association server for verifying compliance with the credit card association
- the transaction is then forwarded to an associated issuing bank server for funds availability and settlement determination.
- the transaction is then re-routed backwards through the process.
- Each component in each step of the process requires certain information in a specified manner. Because of this constraint, each step of the process requires from the next step of the process not only that step's requirements, but also the previous step's requirements.
- the end result is that the burden is on the merchant to offer different information in different electronic formats to satisfy the data needs of each intermediary entity at each step of the transaction process.
- Each intermediary entity takes the informational data it needs and passes the transactional data onto the next intermediary for the next step.
- the merchant server is the last step in this chain, the merchant server presently does not have its own unique format or information attached with any particular transaction. Furthermore, a merchant does not necessarily have the capability of creating such a transaction ID. Barriers to a merchant having capability of creating merchant transaction IDs include that the cost for development can be prohibitive and overwhelming for a single merchant and also that coordination among merchants may not be achieved because the intermediary entities may not allow for each merchant to create its own proprietary system.
- transaction ID transaction identifier
- the transaction identifiers become a kind of transaction DNA.
- the DNA or portions thereof is passed along with other transactional information through the same set of intermediaries as found in a standard transaction processing system.
- the DNA can be based on a source ID, merchant ID, and order ID.
- the order ID is a unique number that can be generated by the merchant or can be generated by a gateway system when the merchant does not provide an order ID.
- the DNA is maintained throughout the lifecycle of the transaction and any subsequent activity associated with such transaction, including authorization of payment, settlement, chargebacks, chargeback reversals, and other dispute resolution.
- a merchant can track a transaction over all systems and can tie back any activity against it over time.
- This process can be used for credit card transactions and electronic check transactions. It is also available for multi-currency transactions.
- the DNA for transactions allows a bank to provide precise transactional matching back to the original transaction for the merchant, such that for the merchant reconciliation is always possible, reconciliation is fast, reconciliation is automatic, and information is presented in the manner that the merchant chooses.
- Fig. 1 is an authorization flow diagram using transaction ID according to the invention
- Fig. 2 is a settlement flow diagram using transaction ID according to the invention.
- Fig. 3 is an exception item flow diagram using transaction ID according to the invention.
- the transaction identifiers become a kind of transaction DNA.
- the DNA or portions thereof is passed along with other transactional information through the same set of intermediaries as found in a standard transaction processing system.
- the DNA can be based on a source ID, merchant ID, and order ID.
- the order ID is a unique number that can be generated by the merchant or can be generated by a gateway system when the merchant does not provide an order ID.
- the DNA is maintained throughout the lifecycle of the transaction and any subsequent activity associated with such transaction, including authorization of payment, settlement, chargebacks, chargeback reversals, and other dispute resolution.
- a merchant can track a transaction over all systems and can tie back any activity against it over time.
- This process can be used for credit card transactions and electronic check transactions. It is also available for multi-currency transactions.
- the DNA for transactions allows a bank to provide precise transactional matching back to the original transaction for the merchant, such that for the merchant reconciliation is always possible, reconciliation is fast, reconciliation is automatic, and information is presented in the manner that the merchant chooses.
- transaction ID transaction ID
- transaction DNA transaction DNA
- DNA DNA
- the transaction DNA is based on or includes the following information:
- Merchant Order ID (or Order ID), a unique number that can be generated by the merchant or by the system for the merchant.
- This invention can be used for credit cards, electronic checks such as MasterCard, Visa, Amex, and Discover, and for multi-currency transactions. It should be appreciated that Amex and Discover capability adds a great value because such transactions are usually processed with the minimal tracking and reporting capabilities.
- transaction DNA provides precise transactional matching to the original transaction for the merchant whereby the following is true:
- FIG. 1 a detailed transaction authorization flow diagram showing the creation and passing of component IDs of the more generalized transaction ID according to the invention.
- the merchant 102 On each authorization request the merchant 102 passes a previously assigned Source ID (202) to a global payment gateway 104.
- the Source ID (202)
- the Source ID (202) is a value assigned by the Global Payments Gateway (GPG) to each major entity that generates transactions into the GPG.
- the Source ID (202) is the highest level identifier in a GPG hierarchy of identifiers.
- the merchant passes a merchant self-assigned Merchant Reference ID.
- the merchant generates and passes a unique Order ID to the GPG.
- the global payment gateway checks the Order ID to verify that it is unique within the Source ID. In one embodiment of the invention, if the merchant does not send an Order ID, then the global payment gateway generates a unique Order ID on the merchant's behalf (204).
- the Source ID has under it one or more Merchant Ref IDs which has under it one or more Order IDs, thus defining a type of hierarchy of identifiers.
- the global payment gateway generates 104 a unique Authorization Reference ID, using both the Order ID and the Merchant Reference ID (if available), and passes the Authorization Reference ID to the acquirer 106 as part of the authorization request (206).
- the acquirer 106 then passes the authorization request (206) through the card association 108 to the card issuer 110.
- the acquirer 106 After receiving an authorization response from the credit card issuer 110, the acquirer 106 returns the authorization response with the original Authorization Reference ID back to the global payment gateway (208).
- the global payment gateway 104 uses the Authorization Reference ID to retrieve both the original Order ID and Merchant Reference ID (if present.) Hence, the global payment gateway 104 returns the authorization response to the merchant 102 with the unique Order ID and the Merchant Reference ID (if present), both obtained from the returned Authorization Reference ID (210).
- the Order ID is fully retrieved for the merchant, as opposed to being lost.
- FIG. 2 a detailed transaction settlement flow diagram showing the creation and passing of component IDs of the more generalized transaction ID according to the invention.
- the merchant 102 on each settlement request (302), such as after shipment of the purchased item, the merchant 102 passes the previously assigned Source ID, the unique Order ID and a unique Client Settlement ID to the global payment gateway 104.
- the unique Client Settlement ID is used by the global payment gateway 104 to avoid duplicate settlements.
- the gateway 104 determines the settlement request is not a duplicate request, the gateway 104 generates a unique Cross Reference ID and passes it (304) along with the settlement date to the acquirer 106 as part of the settlement request.
- the acquirer imbeds this unique Cross Ref ID into a unique Transaction Reference ID that is created by the acquirer and maintained by the issuer and acquirer for the life of the settled transaction.
- the acquirer 106 sends the settlement request along with the Transaction Reference ID (306) to the card issuer 110 for processing.
- the acquirer 106 receives an acknowledgement to the settlement request (308) from the issuer 110 and then passes it (310) to the global payment gateway 104.
- the global payment gateway 104 uses the Transaction Ref ID and the embedded Cross-Ref ID from the settlement acknowledgment to retrieve the Order ID and the Client Settlement ID.
- the global payment gateway returns (312) the settlement acknowledgement to the merchant 104 along with the Order ID and the Client Settlement ID so that the merchant can reconcile the settlement.
- the invention provides a cross reference lookup table to identify and retrieve any of the following: Transaction Reference ID, Cross Reference ID, Client Settlement ID, Order ID, and Authorization Reference ID.
- the global payement gateway creates the cross-reference table.
- An example table can be found in Table A herein below. Table A
- An Exemplary Transaction Exception Item Flow Suppose thirty to sixty days after a transaction a consumer is not happy with the purchased and received shipped item. The process of negotiating the consequent consumer's dispute is referred to herein as a transaction exception item.
- One embodiment of the invention can be described with reference to Fig. 3, wherein a detailed exception item flow diagram shows the creation and passing of component IDs of the more generalized transaction ID according to the invention.
- the card issuing bank 110 receives and processes a transaction dispute request from a cardholder. Based on the type of dispute the card issuer creates and issues either a chargeback or retrieval request (402), i.e. an exception item request, to the acquirer 106.
- a chargeback or retrieval request (402), i.e. an exception item request
- the Transaction Reference ID with the embedded Cross Reference ID from the original settlement request is included in the exception item request.
- the acquirer 106 passes the exception item and the Transaction Reference ID (404) with the embedded Cross Reference ID to the global payment gateway 104.
- the global payment gateway 104 extracts (406) the Cross Reference ID from the Transaction Reference ID and, using the cross reference table, retrieves the original transaction information from its database by using the Cross Reference ID and the original settlement date.
- the global payment gateway 104 sends the merchant 102 the exception item with the original Order ID, Client Settlement ID and Transaction Reference ID (408) so that the merchant can electronically retrieve the original transaction details from its database ' in order to research and reconcile the exception item.
- the invention provides the merchant daily reconciliation and comprehensive reporting capability. This combined functionality allows the customer to have one seamless picture of all his or her transactions at any given point of the transaction's path and on any date.
- BOD Beginning of Day
- EOD End of Day
- the configuration of servers and certain processes for the merchant, global payment gateway, acquirer, card association, and issuer are meant by way of example only.
- the software and hardware implementations can be distributed among one or more servers and one or more computer applications or modules without departing from the scope and spirit of the invention.
Abstract
Description
Claims
Applications Claiming Priority (4)
Application Number | Priority Date | Filing Date | Title |
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US58537104P | 2004-07-02 | 2004-07-02 | |
US60/585,371 | 2004-07-02 | ||
US11/172,748 US8145567B2 (en) | 2000-10-31 | 2005-06-30 | Transaction ID system and process |
US11/172,748 | 2005-06-30 |
Publications (2)
Publication Number | Publication Date |
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WO2006014340A2 true WO2006014340A2 (en) | 2006-02-09 |
WO2006014340A3 WO2006014340A3 (en) | 2007-03-29 |
Family
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Family Applications (1)
Application Number | Title | Priority Date | Filing Date |
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PCT/US2005/023462 WO2006014340A2 (en) | 2004-07-02 | 2005-07-01 | Transaction id system and process |
Country Status (2)
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US (2) | US8145567B2 (en) |
WO (1) | WO2006014340A2 (en) |
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US8407145B1 (en) | 2013-03-26 |
WO2006014340A3 (en) | 2007-03-29 |
US20060010070A1 (en) | 2006-01-12 |
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