System for implementing flexible credentials

A method for processing a transaction for a flexible credential, the method performed by an electronic online system, the method comprising:

• maintaining a database that maps a primary account number (PAN) of a group payment account to a respective underlying funding source of each member of a plurality of members of the group payment account, each respective underlying funding source identified in the database by a payment token or a PAN of the respective underlying funding source:
• receiving, from a payment network, an indication of a payment transaction involving an accountholder of the group payment account, the payment transaction including a payment amount and the PAN of the group payment account, the flexible credential linked to the group payment account, and the group payment account including a plurality of members;
• evaluating rules established by the accountholder to determine:
• a) a set of funding sources to use in the payment transaction, cach of the set of funding sources held by a different member of the plurality of members, and b) a respective portion of the payment amount to be allocated to each of the set of funding sources;
• transmitting a plurality of notifications respectively to the plurality of members associated with the determined set of funding sources, the plurality of notifications including a mechanism to provide consent for the transaction to proceed;
• receiving responses from the plurality of members that received the respective plurality of notifications, the responses indicating consent by all of the plurality of members that received the respective plurality of notifications to proceed with the transaction;
• and
• in response to obtaining unanimous consent from all of the plurality of members that received the respective plurality of notifications to proceed with the transaction, completing the payment transaction by identifying, using the database and the PAN of the group payment account. the respective underlying funding source of each of the plurality of members that received the respective plurality of notifications, and initiating separate payment transactions with each of the set of funding sources for the respective portion of the payment amount, each separate payment transaction directed to the respective underlying funding source identified from the database.

A non-transitory machine-readable medium comprising instructions for processing a transaction for a flexible credential, which when executed by a machine in an online system cause the machine to:

• maintain a database that maps a primary account number (PAN) of a group payment account to a respective underlying funding source of each member of a plurality of members of the group payment account, each respective underlying funding source identified in the database by a payment token or a PAN of the respective underlying funding source;
• receive, from a payment network, an indication of a payment transaction involving an accountholder the group payment account, the payment transaction including a payment amount and the PAN of the group payment account, the flexible credential linked to the group payment account, and the group payment account including a plurality of members;
• evaluate rules established by the accountholder to determine:
• a) a set of funding sources to use in the payment transaction, each of the set of funding sources held by a different member of the plurality of members, and b) a respective portion of the payment amount to be allocated to each of the set of funding sources;
• transmit a plurality of notifications respectively to the plurality of members associated with the determined set of funding sources, the plurality of notifications including a mechanism to provide consent for the transaction to proceed;
• receive responses from the plurality of members that received the respective plurality of notifications, the responses indicating consent by all of the plurality of members that received the respective plurality of notifications to proceed with the transaction;
• and
• in response to obtaining unanimous consent from all of the plurality of members that received the respective plurality of notifications to proceed with the transaction, complete the payment transaction by identifying, using the database and the PAN of the group payment account, the respective underlying funding source of each of the plurality of members that received the respective plurality of notifications, and initiating separate payment transactions with each of the set of funding sources for the respective portion of the payment amount, each separate payment transaction directed to the respective underlying funding source identified from the database.