Systems and methods for enhanced transaction processing

One or more non-transitory computer-readable storage media storing instructions that, when executed by one or more processors, cause the one or more processors to modify control parameters associated with a child financial product that is linked to a core account at a financial institution, by performing the steps of:

• generating, via one or more processors in a payment processing platform separate from a financial institution server, the child financial product that includes a first set of control parameters, wherein each control parameter included in the first set of control parameters includes a control element, a weight value, and a control value;
• delivering the child financial product to a user, wherein the core account provides financial backing for the child financial product;
• after generating the child financial product, receiving, at the payment processing platform, a first updated set of control parameters for the child financial product, wherein the first updated set of control parameters includes:
• an action command,
• at least one of the weight value and an updated weight value,
• at least an update control value to replace a first control value included in the first set of control parameters,
• a first control element corresponding to the updated control value;
• and
• modifying, by the payment processing platform, the first set of control parameters based on the first updated set of control parameters to generate a modified set of control parameters,
• wherein the child financial product is configured to be used for one or more payment transactions, and
• further wherein the payment processing platform is configured to restrict approval of the one or more payment transactions based on determining that the one or more payment transactions satisfying the modified set of control parameters causes a sum of weight values included in the modified set of control parameters to exceed a threshold value.

A computer system, comprising:

• a processor;
• and
• a memory storing instructions that, when executed by the processor, cause the computer system to modify control parameters associated with a child financial product that is linked to a core account at a financial institution, by performing the steps of:
• generating, via one or more processors in a payment processing platform separate from a financial institution server, the child financial product that includes a first set of control parameters, wherein each control parameter included in the first set of control parameters includes a control element, a weight value, and a control value;
• delivering the child financial product to a user, wherein the core account provides financial backing for the child financial product;
• after generating the child financial product, receiving, at the payment processing platform, a first updated set of control parameters for the child financial product, wherein the first updated set of control parameters includes:
• an action command,
• at least one of the weight value and an updated weight value,
• at least an updated control value to replace a first control value included in the first set of control parameters, and
• a first control element corresponding to the updated control value;
• and
• modifying, by the payment processing platform, the first set of control parameters based on the first updated set of control parameters to generate a modified set of control parameters,
• wherein the child financial product is configured to be used for one or more payment transactions, and
• further wherein the payment processing platform is configured to restrict approval of the one or more payment transactions based on determining that the one or more payment transactions satisfying the modified set of control parameters causes a sum of weight values included in the modified set of control parameters to exceed a threshold value.

A computer-implemented method for adding control parameters to a core account, the method comprising:

• receiving a selection of the core account, wherein the core account is held with a financial institution;
• receiving a first set of control parameters, wherein each control parameter included in the first set of control parameters includes a control element, a weight value and a control value, and wherein the selection of the core account and the first set of control parameters are received from a user or from a financial institution;
• associating, via one or more processors, the first set of control parameters with the core account;
• generating, via a payment processing platform separate from a financial institution server, a child financial product;
• delivering, via the payment processing platform, the child financial product to the user, wherein the core account provides financial backing for the child financial product;
• receiving, at the payment processing platform, a second set of control parameters including:
• an action command,
• at least one of the weight value and an updated weight value,
• an updated control value to replace a first control value included in the first set of control parameters, and
• a first control element corresponding to the updated control value;
• and
• modifying, by the payment processing platform, the first set of control parameters based on the second set of control parameters to generate a modified set of control parameters,
• wherein the child financial product is configured to be used for one or more payment transactions, and
• further wherein the payment processing platform is configured to restrict approval of the one or more payment transactions based on determining that the one or more payment transactions satisfying the modified set of control parameters causes a sum of weight values included in the modified set of control parameters to exceed a threshold value.