Systems and methods for identifying errors in transaction messages

A computer-implemented method for identifying errors in transaction messages processed through a payment network, said method comprising the steps of:

• receiving, from a sender, a transaction message associated with a financial transaction, the financial transaction originating from a merchant and processed through an acquirer,
• the transaction message including a plurality of data element fields, at least one of the data element fields is a merchant identification field including a merchant identification (ID) data element used to identify the merchant at which the financial transaction originated and at least another one of the data element fields is an acquirer identification field including an acquirer identification (ID) data element;
• processing the merchant ID data element at a transaction error identification (TEI) computing device, including executing an error-identification routine to analyze the merchant ID data element populated in the merchant identification field;
• comparing, by the TEI computing device, the merchant ID data element to historical transaction data stored in a historical database, the historical database further including a plurality of acquirer identifiers (IDs) stored thereon, each respective acquirer ID being associated with information indicative of the acquirer represented by the respective acquirer ID;
• based on the comparison, determining, by the TEI computing device, that the merchant ID data element is not uniquely associated with the merchant, wherein the merchant ID is duplicated with one or more second merchants;
• flagging the transaction message, wherein the flagging indicates that the transaction messages include an error;
• storing the flagged transaction message in an audit database;
• generating an error message indicating that the merchant ID data element is not uniquely associate with the merchant;
• processing the acquirer ID data element at the TEI computing device to identify the acquirer associated with the flagged transaction message by matching the acquirer ID of the transaction message to one of the plurality of acquirer IDs stored on the historical database;
• and
• transmitting the error message to the acquirer.

One or more non-transitory computer-readable storage media having computer-executable instructions for identifying errors in transaction messages processed through a payment network, wherein when executed by at least one processor the computer-executable instructions cause the processor to:

• receive, from a sender, a transaction message associated with a financial transaction, the financial transaction originating from a merchant and processed through an acquirer,
• the transaction message including a plurality of data element fields, at least one of the data element fields is a merchant identification field including a merchant identification (ID) data element used to identify the merchant at which the financial transaction originated and at least another one of the data element fields is an acquirer identification field including an acquirer identification (ID) data element;
• process the merchant ID data element at the TEI computing device by executing an error-identification routine to analyze the merchant ID data element populated in the merchant identification field;
• compare, by the TEI computing device, the merchant ID data element to historical transaction data stored in a historical database, the historical database further including a plurality of acquirer identifiers (IDs) stored thereon, each respective acquirer ID being associated with information indicative of the acquirer represented by the respective acquirer ID;
• based on the comparison, determine, by the TEI computing device, that the merchant ID data element is not uniquely associated with the merchant, wherein the merchant ID is duplicated with one or more second merchants;
• flag the transaction message, wherein the flag indicates that the transaction messages include an error;
• store the flagged transaction message in an audit database;
• generate an error message indicating that the merchant ID data element is not uniquely associate with the merchant;
• process the acquirer ID data element at the TEI computing device to identify the acquirer associated with the flagged transaction message by matching the acquirer ID of the transaction message to one of the plurality of acquirer IDs stored on the historical database;
• and
• transmit the error message to the acquirer.