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AssigneeMastercard International Incorporated
InventorsIrina Singh, Shanthan Subramaniam, Suman Rausaria
Estimating the term…
A payment management system and method of managing a payment network includes generating a payment token based on a bank account of a user (e.g., a buyer), receiving a dynamic code through a network for a transaction, and validating a request for payment of the transaction using an installment plan based on funds from the bank account. The validating the request for payment of the transaction is performed based on operations which include authenticating the payment token and verifying the dynamic code. In addition, the method includes generating a decision signal indicating a decision for the request when the request for payment is validated and transmitting the decision signal to a merchant system to authorize or decline completion of the transaction.
A payment management system for use with a buyer, a merchant system, and a bank, the merchant system being configured to provide a good or service to the buyer and to generate a request of available banks, the bank being configured to establish a bank account for the buyer, to register with said payment management system, to provide a tokenized personal account number associated with the bank account to said payment management system, and to provide an available installment plan to said payment management system for the merchant system, the merchant system being additionally configured to provide the available installment plan to the buyer and to generate an installment plan selection including bank account information of the bank account for the buyer, said payment management system comprising:
A method of using a payment management system with a buyer, a merchant system, and a bank, the merchant system being configured to provide a good or service to the buyer and to generate a request of available banks, the bank being configured to establish a bank account for the buyer, to register with the payment management system, to provide a tokenized personal account number associated with the bank account to the payment management system, and to provide an available installment plan to the payment management system for the merchant system, the merchant system being additionally configured to provide the available installment plan to the buyer and to generate an installment plan selection including bank account information of the bank account for the buyer, said method comprising:
A non-transitory, computer-readable media having computer-readable instructions stored thereon, the computer-readable instructions being capable of being read by a payment management system for use with a buyer, a merchant system, and a bank, the merchant system being configured to provide a good or service to the buyer and to generate a request of available banks, the bank being configured to establish a bank account for the buyer, to register with the payment management system, to provide a tokenized personal account number associated with the bank account to the payment management system, and to provide an available installment plan to the payment management system for the merchant system, the merchant system being additionally configured to provide the available installment plan to the buyer and to generate an installment plan selection including bank account information of the bank account for the buyer, wherein the computer-readable instructions are capable of instructing the payment management system to perform the method comprising:
Dependencies are inferred from the claim text.