Micropayments transaction system
AssigneeMastercard International Incorporated
InventorsRahul Das Putham Das, Mayank Prakash, Nimit Gulati, Sandeep Gelli
Life of this patent
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Abstract
An improved payment system is provided for approving micropayments during interactive services engaged by consumers. The payment system provides a stored list of multiple sources of payment entered by the consumer. A transaction processor receives micropayment transaction payment requests and uses a financial database to approve or deny the request before submitting the payment request to the corresponding cash account or credit account issuer. The improved payment system may be useful in reducing latency due to waiting for payment approvals and may be useful in reducing transaction costs.
Claims20
A system configured to process micropayment and non-micropayment transactions differently, the system comprising:
- at least one computer-readable storage medium storing:
- payment sources associated with a consumer for paying micropayment transactions, wherein the payment sources comprise at least one of a cash account or credit account associated with a corresponding account issuer;
- and
- financial information associated with the consumer;
- and
- a transaction processor configured to:
- receive a micropayment transaction payment request from an interactive service in response to the consumer authorizing a micropayment transaction during interactive engagement with the interactive service;
- in response to the micropayment transaction payment request, implement micropayment processing using the cash account or credit account, wherein the quick pay micropayment processing is different from non-micropayment processing using the cash account or credit account;
- and
- apply the micropayment processing to provide real-time approval of the micropayment transaction payment request using at least one of the cash account or credit account based on a real-time assessment of the financial information before receiving approval of the micropayment transaction payment request from the corresponding cash account or credit account issuer.
Dependencies are inferred from the claim text.