Processing Marketplace Transactions

A system, comprising:

• a non-transitory memory storing instructions;
• and
• one or more hardware processors coupled to the non-transitory memory and configured to execute the instructions from the non-transitory memory to cause the system to:
• receive, via a payment network, an indication of a point-of-sale (POS) transaction for processing by a POS device;
• obtain funding source information associated with a funding source for the POS transaction via a communication link established between the POS device and a payment instrument;
• subsequent to receiving the indication, retrieve, terms information from a plurality of third-party servers associated with a plurality of third-party financial service providers via a first communication channel;
• select, by the application and from the plurality of third-party financial service providers, a first third-party financial service provider for processing the POS transaction based on the terms information;
• and
• cause the POS device to transmit, using a protocol used by the first third-party financial service provider and via a second communication channel, the funding source information and transaction information related to the POS transaction to a first third-party server associated with the first third-party financial service provider for processing the POS transaction.

A method comprising:

• obtaining, by a computer system and from a point-of-sale (POS) device, funding source information of a funding source usable in a POS transaction;
• retrieving, by the computer system, terms information from a plurality of remote servers associated with a plurality of financial service providers via a first communication channel;
• selecting, by the computer system and from the plurality of financial service providers, a first financial service provider for processing the POS transaction based on the terms information and a set of criteria specified by a merchant associated with the POS device;
• and
• causing, by the computer system, the POS device to transmit, using a protocol associated with the first financial service provider and via a second communication channel, the funding source information and transaction information related to the POS transaction to a first remote server from the plurality of remote servers and associated with the first financial service provider for processing the POS transaction.

A non-transitory machine-readable medium having stored thereon machine-readable instructions executable to cause a machine to perform operations comprising:

• obtaining, from a point-of-sale (POS) device, funding source information associated with a funding source usable for a POS transaction;
• retrieving terms information from a plurality of third-party servers associated with a plurality of third-party financial service providers via a first communication channel;
• selecting, from the plurality of third-party financial service providers, a first third-party financial service provider for processing the POS transaction based on the terms information and a set of criteria specified by a merchant associated with the POS device;
• and
• causing the POS device to transmit, using a protocol associated with the first third-party financial service provider and via a second communication channel, the funding source information and transaction information related to the POS transaction to a first third-party server from the plurality of third-party servers for processing the POS transaction, wherein the first third-party server is associated with the first third-party financial service provider.