Method, System, and Computer Program Product for Processing a Payment Transaction Via a Proxy Guarantor

A system for processing a payment transaction via a proxy guarantor, comprising at least one processor programmed or configured to:

• receive a transaction request associated with a payment transaction between a user and a merchant for a transaction amount, the transaction request comprising:
• payment device data associated with a payment device of the user, the payment device associated with a payment type not accepted by the merchant;
• and an indicator causing the payment transaction to be processed as a proxy guarantor transaction;
• identify at least one guarantor associated with the user, wherein the at least one guarantor is associated with a payment device associated with a payment type accepted by the merchant;
• communicate an authorization request to an issuer system associated with the payment device of the guarantor to cause the issuer system associated with the payment device of the guarantor to authorize the payment transaction;
• receive an authorization response from the issuer system associated with the payment device of the guarantor, the authorization response comprising a payment transaction approval indicator;
• and
• communicate a settlement request to an issuer system associated with the payment device of the user.

A computer program product for processing a payment transaction via a proxy guarantor, the computer program product comprising at least one non-transitory computer-readable medium including one or more instructions that, when executed by at least one processor, cause the at least one processor to:

• receive a transaction request associated with a payment transaction between a user and a merchant for a transaction amount, the transaction request comprising:
• payment device data associated with a payment device of the user, the payment device associated with a payment type not accepted by the merchant;
• and an indicator causing the payment transaction to be processed as a proxy guarantor transaction;
• identify at least one guarantor associated with the user, wherein the at least one guarantor is associated with a payment device associated with a payment type accepted by the merchant;
• communicate an authorization request to an issuer system associated with the payment device of the guarantor to cause the issuer system associated with the payment device of the guarantor to authorize the payment transaction;
• receive an authorization response from the issuer system associated with the payment device of the guarantor, the authorization response comprising a payment transaction approval indicator;
• and
• communicate a settlement request to an issuer system associated with the payment device of the user.