Systems and methods for processing electronic transactions based on consumer characteristics

A system for processing electronic transactions based on physical geography, the system comprising:

• a data storage device storing instructions for processing electronic transactions based on a unique characteristic;
• and
• a processor configured to execute the instructions to perform a method comprising:
• receiving from a merchant device, over an electronic network, payment data encoded on a consumer payment card;
• accessing or receiving a geofence ID associated with the consumer encoded on the consumer payment card, based on the payment data having been decrypted by a third party device associated with the consumer payment card;
• determining, using a processing device of the third party, whether the geofence ID associated with the consumer matches a geofence ID associated with the merchant;
• transmitting to the merchant, over an electronic network, a result of a comparison between the geofence ID associated with the consumer and the geofence ID associated with the merchant;
• and
• modifying an electronic payment transaction by applying a discount to the electronic payment transaction or displaying a notification in relation to the electronic payment transaction based on the result of the comparison.

A non-transitory machine readable medium storing instructions that, when executed by a computing system, causes the computing system to perform a method for processing transactions based on a characteristic, the method including:

• receiving from a merchant device, over an electronic network, payment data encoded on a consumer payment card;
• accessing or receiving a geofence ID associated with the consumer encoded on the consumer payment card, based on the payment data having been decrypted by a third party device associated with the consumer payment card;
• determining, using a processing device of the third party, whether the geofence ID associated with the consumer matches a geofence ID associated with the merchant;
• transmitting to the merchant, over an electronic network, a result of a comparison between the geofence ID associated with the consumer and the geofence ID associated with the merchant;
• and
• modifying an electronic payment transaction by applying a discount to the electronic payment transaction or displaying a notification in relation to the electronic payment transaction based on the result of the comparison.