Variable rate system
OwnerLaura Long, Michele Larsen +2inventors
InventorsLaura Long, Michele Larsen, Patricia Torres, Malini Dutta
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Abstract
Embodiments of the disclosure are directed to a system in which a transaction may automatically be subjected to a variable interchange rate based on the entities involve in the transaction. In some embodiments, a target criteria document may be received from a resource provider or an authorization entity. The target criteria may include a variable rate which is particular to two specific entities. The variable rate is then stored at a processing network in relation to the two entities. Upon receiving a request to complete a transaction that involves the two entities, the processing network may automatically adjust an amount of the transaction based on the stored variable rate.
Claims19
A method comprising:
- receiving, at a processing network server, a target criteria document that includes a variable rate related to at least a first resource provider and a second resource provider;
- storing, at the processing network server, the variable rate in a data store in relation to both the first resource provider and the second resource provider;
- receiving, at the processing network server, a request to complete a transaction with respect to the first resource provider using a device obtained from the second resource provider;
- and
- processing the transaction according to the variable rate.
A server device comprising:
- a processor;
- and
- a memory including instructions that, when executed with the processor, cause the server device to, at least:
- receive a target criteria document that includes a variable rate related to at least a first resource provider and a second resource provider;
- store the variable rate in a data store in relation to both the first resource provider and the second resource provider;
- receive, at the processing network server, a request to complete a transaction with respect to the first resource provider using a device obtained from the second resource provider;
- retrieve the variable rate stored in relation to both the first resource provider and the second resource provider;
- adjust an amount of the transaction in the request based on the variable rate;
- and
- route the request to an authorization server for approval.
A server device comprising:
- a processor;
- and
- a memory including instructions that, when executed with the processor, cause the server device to, at least:
- receive a target criteria document that includes a variable rate related to at least a first resource provider and a second resource provider;
- store the variable rate in a data store in relation to both the first resource provider and the second resource provider;
- receive, at the processing network server, a request to complete a transaction with respect to the first resource provider using a device obtained from the second resource provider;
- and
- process the transaction according to the variable rate.
Dependencies are inferred from the claim text.