Payment processing platform

One or more non-transitory computer-readable media storing instructions that, when executed by a processor at a payment processing entity, cause the payment processing entity to process a child transaction initiated using a child product by performing the steps of:

• receiving, at the payment processing entity that is separate and distinct from a financial institution entity, the child transaction involving the child product, wherein:
• the child product was generated at the payment processing entity in response to a user input and based on a core account that provides financial backing for the child product and is managed by the financial institution entity, and
• the child product includes:
• two or more control parameters corresponding to the user input and specifying a restriction on a transaction attribute, each of the two or more control parameters associated with a different weight value specified by an owner of the core account, and
• a virtual card available through a web browser, the virtual card including a child card number, and
• the child transaction is initiated at an online merchant entity via a merchant website, is routed to the payment processing entity through a network based on the child card number, and includes one or more transaction attributes that define the child transaction;
• comparing the one or more transaction attributes to the two or more control parameters to determine whether to restrict approval of the child transaction by:
• implementing the child card number as a reference pointer to identify the two or more control parameters stored to a first database,
• for each transaction attribute, applying the weight value associated with one of the two or more control parameter that is satisfied by the transaction attribute, and
• determining that a sum of the weight values exceeds a threshold value;
• and
• in response to determining that the child transaction is valid:
• identifying, based on the child card number, a core account number associated with the core account, and
• generating, at the payment processing entity, a core account transaction based on the core account number,
• wherein the core account transaction includes information specific to the core account and is processed by the financial institution entity, and a result of the child transaction is based on a result that is generated when the core account transaction is processed.