System and Method for Automated Switching of Payment Devices in a Payment Transaction

A system for automated switching of payment devices during a payment transaction, the system including a facilitator module comprising:

• at least one processor;
• and
• at least one memory in communication with the at least one processor and including computer program code;
• the at least one memory and the computer program code configured to, with the at least one processor, cause the facilitator module at least to:
• in response to a payment status message from an issuer of a primary payment device which is indicative of a partial approval or a decline of a payment transaction request for the primary payment device, retrieve, from a database, identification data for a secondary payment device which is associated with the primary payment device;
• generate a secondary payment instruction comprising the identification data of the secondary payment device, and an amount or a remaining amount of the payment transaction;
• and
• transmit the secondary payment instruction to an issuer of the secondary payment device.