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OwnerW. Jeffrey Knowles, Russell Hales Day +5inventors
InventorsW. Jeffrey Knowles, Russell Hales Day, David J. Matthews, Jeffrey R. Burke, Scott E. Wessman, A. Carlo Okolowitz, Joseph B. Emig
Estimating the term…
A transaction process system (10) provides for data transactions between parties. In a credit card transaction, the parties are the merchant (20), acquiring bank (24), card association (34), issuing bank (14), and cardholder (12). A transaction processing center (30) is positioned between the acquiring bank and the card association. The transaction processing center provides data processing channels for message-based processing (72) and filed-based processing (76). The file-based processing uses an incoming queue (80) and outgoing queue (84) to simplify the interface. The transaction processing center also provides for currency conversions and account reconciliation on a per transaction basis. The transaction processing center uses a scheduler (160) to efficiently manage the data processing resources.
A system for processing transactions between a merchant and a credit card holder, comprising:
A credit card processing system, comprising a data processing center having a communication link with a merchant to receive a credit card transaction initiated by the merchant, wherein the data processing center processes the credit card transaction in a plurality of currencies including a transaction currency to provide a baseline for a monetary value of the credit card transaction and a clearing currency which is selectable to match a native currency of an issuer of the credit card and further converts the transaction currency to the clearing currency.
A method of converting currency in a transaction processing system, comprising:
A method of processing a credit card transaction by a data processing center, comprising:
A method of processing a credit card transaction by a data processing center, comprising:
The method of claim 26 further including:
Dependencies are inferred from the claim text.