System and method for implementing transaction processing ecosystems

A method for processing transactions in a transaction processing ecosystem comprising a financial transaction processing system comprising a message bus and a plurality of processors interfacing with the message bus, the method comprising the steps of:

• registering, with the message bus, registration information of each of the plurality of processors, the registration information indicating a transaction processing capability of a respective processor, and the plurality of processors having different transaction processing capabilities such that each of the plurality of processors is capable of processing a different transaction type;
• receiving, via a capture interface, raw data in a raw data format for a payment transaction,
• wherein the raw data comprises client instructions;
• registering, via the capture interface, the raw data format with the message bus, the registration comprising mapping each of a plurality of data fields in the raw data format to a corresponding data field in a standardized logical data model format;
• normalizing, via the capture interface, the raw data into standardized transaction data for the standard logical data model format based on the raw data format registration, to provide a normalized transaction format;
• publishing, via the capture interface, the normalized transaction format as a transaction to the message bus that interfaces with the plurality of processors such that each of the plurality of processors is notified of the publishing;
• monitoring, by the plurality of processors, the message bus for the transaction to process based on the registration information of each of the plurality of processors, the transaction including a first sub-transaction of a first transaction type and a second sub-transaction of a second transaction type that is different from the first transaction type;
• pulling, by a first processor among the plurality of processors and from the message bus, the transaction including the first sub-transaction of the first transaction type for processing based on a transaction processing capability of the first processor according to the registration information of each of the plurality of processors,
• wherein the first transaction type corresponds to a transaction type capable of being processed by the first processor among the plurality of processors, but not by other processors among the plurality of processors;
• notifying the other processors among the plurality of processors of the transaction pulled for processing based on the transaction processing capability of the first processor;
• processing, via the first processor of the plurality of processors, the first sub-transaction of the transaction;
• returning the transaction processed by the first processor to the message bus and publishing the transaction including the second sub-transaction that has not yet been processed to the message bus for further processing by another processor among the plurality of processors;
• monitoring, by the plurality of processors and based on the registration information of each of the plurality of processors, the message bus for the transaction that was processed by the first processor and requires further processing of the second sub-transaction;
• pulling, from the message bus and by a second processor among the plurality of processors, the transaction including the second sub-transaction for processing, when the second transaction type of the second sub-transaction corresponds to a transaction type capable of being processed by the second processor among the plurality of processors, but not by the other processors among the plurality of processors;
• determining whether the second processor is an end point for the payment transaction, such that no further processing is required by remaining of the plurality of processors;
• and
• in response to a determination that the second processor is the end point for the payment transaction, sending the processed standardized transaction to a user interface and completing the payment transaction.