Point of interaction loyalty currency redemption in a transaction

A non-transitory computer medium storing instructions which, when executed by a processor of a computing apparatus configured on an electronic payment processing network, cause the computing apparatus to:

• receive an authorization request initiated by a point of service (POS) terminal of a merchant in the electronic payment processing network, the authorization request associated with a payment transaction from a payment account of a user;
• and
• in response to receiving the authorization request, and while the payment transaction is being processed:
• communicate, via a transaction handler of a payment processing system, with each secondary issuer of a plurality of secondary issuers to:
• receive, from the secondary issuer, an equivalent financial currency value of a loyalty currency value of the user being held by the secondary issuer, the equivalent financial currency value corresponding to a reduction of the loyalty currency value from a loyalty account of a plurality of loyalty accounts, the loyalty account controlled by the secondary issuer;
• and
• in response to receiving the equivalent financial currency value, convert the equivalent financial currency value to an equivalent primary loyalty currency value, wherein converting the equivalent financial currency value comprises adding the equivalent primary loyalty currency value to a primary loyalty account of the user in exchange for the equivalent financial currency value received from the secondary issuer;
• send, as financial tender for the payment transaction, at least a first financial currency value corresponding to a sum of loyalty currency values that are reduced in the plurality of loyalty accounts;
• and
• reduce a balance in the primary loyalty account according to the first financial currency value sent as financial tender for the payment transaction.

A computer-implemented method comprising:

• receiving, with at least one processor, an authorization request initiated by a point of service (POS) terminal of a merchant in an electronic payment processing network, the authorization request associated with a payment transaction from a payment account of a user;
• and
• in response to receiving the authorization request, and while the payment transaction is being processed:
• communicating, with the at least one processor via a transaction handler of a payment processing system, with each secondary issuer of a plurality of secondary issuers to:
• receive, with the at least one processor from the secondary issuer, an equivalent financial currency value of a loyalty currency value of the user being held by the secondary issuer, the equivalent financial currency value corresponding to a reduction of the loyalty currency value from a loyalty account of a plurality of loyalty accounts, the loyalty account controlled by the secondary issuer;
• and
• in response to receiving the equivalent financial currency value, convert, with the at least one processor, the equivalent financial currency value to an equivalent primary loyalty currency value, wherein converting the equivalent financial currency value comprises adding, with the at least one processor, the equivalent primary loyalty currency value to a primary loyalty account of the user in exchange for the equivalent financial currency value received from the secondary issuer;
• sending, with the at least one processor, as financial tender for the payment transaction, at least a first financial currency value corresponding to a sum of loyalty currency values that are reduced in the plurality of loyalty accounts;
• and
• reducing, with the at least one processor, a balance in the primary loyalty account according to the first financial currency value sent as financial tender for the payment transaction.