System and method for processing financial transactions

A computer-implemented method comprising:

• transmitting a first radio frequency communication to a customer transceiver;
• receiving a second radio frequency communication including customer identification data at a receiver;
• creating an authorization request based in part upon the receipt of the customer identification data, the authorization request comprising transaction data and the received customer identification data;
• communicating the authorization request to a transaction processor;
• selecting a payment method corresponding to a payment processor, at the transaction processor, based at least in part upon information associated with the customer identification data and a merchant identifier stored in a database accessible by the transaction processor;
• and
• communicating with the selected payment processor for approval and payment,
• wherein a merchant is associated with a given brand,
• wherein the merchant identifier is the same for all stores associated with the given brand,
• wherein the customer identification data is associated with a customer account, and
• wherein each customer account identifies a preassigned payment method for each merchant identified in the customer account and, in multiple customer accounts, the preassigned payment methods vary for transactions with merchants associated with different brands.

A method for processing transactions comprising the steps of:

• receiving a communication at a point-of-sale device, said communication comprising customer identification data;
• transmitting an authorization request from said point-of-sale device to a transaction processing system, said authorization request comprising a merchant identifier, transaction data, and said customer identification data;
• and
• receiving a response to said authorization request from said transaction processing system,
• wherein a merchant is associated with a given brand,
• wherein the merchant identifier is the same for all stores associated with the given brand,
• wherein the customer identification data is associated with a customer account, and
• wherein each customer account identifies a pre-assigned payment method for each merchant identified in the customer account and, in multiple customer accounts the preassigned payment methods vary for transactions with merchants associated with different brands.

A method for collecting consumer purchasing trend information in a transaction processing system, said method comprising the computer-implemented steps of:

• receiving a communication at one of a plurality of point-of-sale devices, said communication comprising customer identification data;
• transmitting an authorization request from one of said plurality of point-of-sale devices to said transaction processing system, said authorization request comprising a merchant identifier, transaction data, and said customer identification data;
• and
• updating a database with said transaction data and said customer identification data,
• wherein a merchant is associated with a given brand,
• wherein the merchant identifier is the same for all stores associated with the given brand,
• wherein the customer identification data is associated with a customer account, and
• wherein each customer account identifies a pre-assigned payment method for each merchant identified in the customer account and, in multiple customer accounts the pre-assigned payment methods vary for transactions with merchants associated with different brands.

A method of monitoring customer progress in a merchant award program, comprising the steps of:

• receiving a communication at one of a plurality of point-of-sale devices, said communication comprising customer identification data;
• transmitting an authorization request from one of said plurality of point-of-sale devices to a transaction processing system, said authorization request comprising a merchant identifier, said transaction data, and said customer identification data;
• and
• crediting a customer account in a database with loyalty points indicative of said transaction data,
• wherein a merchant is associated with a given brand,
• wherein the merchant identifier is the same for all stores associated with the given brand,
• wherein the customer identification data is associated with a customer account, and
• wherein each customer account identifies a pre-assigned payment method for each merchant identified in the customer account and, in multiple customer accounts, the pre-assigned payment methods vary for transactions with merchants associated with different brands.