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US 2014/0279117 A1Published application
Subscription and membership based credit card processing system
AssigneeBestmerchantrates.Com
InventorsDANNY K. CHOI, MELINDA A. CHOI
Life of this patent
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Abstract
A method for implementing a flat fee structure for credit card processing, which simplifies the fees charged to a merchant from an ISO. The flat rate processing fee may cover processing for a particular merchant for a specified period of time.
Claims7
A method of processing credit card transactions of a merchant, the method comprising the steps of:
- receiving a flat-fee payment from an authorized merchant, the flat fee being associated with unlimited processing services during a prescribed time period;
- associating a point of sale terminal identifier with the authorized merchant;
- entering the point of sale terminal identifier associated with the authorized merchant into a central processing server;
- and
- authorizing the central processing server to conduct processing services in response to processing requests received from the point of sale terminal associated with the authorized merchant.
2 more elements
Dependencies are inferred from the claim text.