System and method for merchant account acquisition and approval
AssigneeAmerican Express Travel Related Services Company, Inc.
InventorsLisa Lindvall, Gintas P. Balodis, Bruce Fraedrich, Elizabeth Langwith
Life of this patent
Estimating the term…
Abstract
A merchant account acquisition and approval system and method generally includes an online application process for card acceptance. The merchant views, completes and receives a merchant account number and rate in real time. A PIN may be used to identify a particular type of merchant and grant access to a specific set of terms and conditions for card acceptance. The merchant may enter the PIN to view the terms and conditions online prior to acceptance of the card acceptance agreement. Merchants from a similar locale or business, such as a franchisee and government entity, can receive similar prices, terms and conditions.
Claims15
A merchant account approval system configured for facilitating approval of merchant accounts, the system comprising:
- a webservice coupled to a server, said webservice having a website which includes a plurality of web pages comprising a merchant account application;
- and
- a merchant workstation in communication with said website via a network, said workstation having an input device configured for completing said merchant account application, and a display for viewing a merchant account application retrieved from said server and for viewing a conditional statement retrieved from said server;
- said conditional statement comprising at least one of a set of default terms and a specific set of terms, wherein a selection of said conditional statement being dependent upon the type of merchant applying for account approval;
- whereby said server receives said application from said workstation, generates a merchant account number and provides said account number to said workstation via said network in substantially real-time upon receiving said application.
A method for facilitating merchant transactional card account acceptance, the method comprising:
- (a) accessing an Internet website from a merchant workstation, said website linked to a server having a merchant account application for card acceptance stored thereon;
- (b) displaying said merchant account application;
- (c) receiving requested field information on said application;
- (d) receiving a PIN to access a specific set of terms and conditions for card acceptance;
- (e) displaying said set of terms and conditions for card acceptance, said set provided to said merchant workstation for viewing based upon said PIN and a type of merchant;
- (f) submitting said application for approval;
- and
- (g) receiving a new merchant account number for immediate card acceptance.
An online method for acquisition of merchant transactional card account acceptance, said method comprising:
- (a) retrieving a merchant account application from a server having an application website stored thereon;
- (b) displaying said application on a merchant workstation;
- (c) receiving a data input from said merchant workstation and analyzing said input to determine a type of merchant;
- (d) retrieving a conditional statement from said server, said conditional statement comprising a set of terms and conditions and corresponding to said type of merchant;
- (e) receiving a response to said conditional statement;
- (f) if said response is positive, then accepting said application to begin an approval process, and if said response is negative, then declining said application;
- and
- (g) providing a merchant account number for immediate use upon acceptance of said application.
Dependencies are inferred from the claim text.