Systems and methods for optimized settlement of sponsored electronic transactions
AssigneeWorldpay, LLC
InventorJackson Andrew Unrau
Life of this patent
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Abstract
A computer-implemented method for prepaid card funding for sponsored purchases includes receiving a payment request for funding a sponsored purchase using a payment vehicle, deducting funds from a financial account associated with the payment vehicle, such that the financial account has a negative balance, and loading additional funds into the financial account associated with the payment vehicle, such that the financial account has a zero balance.
Claims20
A method for prepaid card funding for sponsored purchases, the method comprising:
- receiving a payment request by a consumer for funding a sponsored purchase using a payment vehicle;
- forcing an approval of the payment request regardless of funds available on the payment vehicle based on the payment vehicle being a known payment vehicle and meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service;
- and
- settling the payment request with a sponsor of the sponsored purchase.
A system for prepaid card funding for sponsored purchases, the system comprising:
- a memory configured to store instructions;
- and
- one or more processors configured to execute the instructions to perform operations comprising:
- receiving a payment request by a consumer for funding a sponsored purchase using a payment vehicle;
- forcing an approval of the payment request regardless of funds available on the payment vehicle based on the payment vehicle being a known payment vehicle and meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service;
- and
- settling the payment request with a sponsor of the sponsored purchase.
A non-transitory machine-readable medium storing instructions that, when executed by one or more processors, cause the one or more processors to perform a method for prepaid card funding for sponsored purchases, the method including:
- receiving a payment request by a consumer for funding a sponsored purchase using a payment vehicle;
- forcing an approval of the payment request regardless of funds available on the payment vehicle based on the payment vehicle being a known payment vehicle and meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service;
- and
- settling the payment request with a sponsor of the sponsored purchase.
Dependencies are inferred from the claim text.