System and method for reconciling credit card payments with corresponding transactions

A computer readable medium storing instructions that, when executed by a computer, cause the computer to perform a method of reconciling a payment to a merchant for a set of credit card transactions, the method comprising:

• accepting from a merchant payment requests for multiple credit card transactions;
• for each transaction:
• generating a unique transaction identifier;
• and
• transmitting the transaction identifier to the merchant;
• and
• submitting an authorization request for the transaction toward a credit card issuer;
• forwarding a settlement request toward the credit card issuer, wherein the settlement request comprises the transaction identifiers of each transaction in the multiple transactions that was authorized;
• receiving settlement of the settlement request, wherein the settlement comprises data that includes the transaction identifiers of one or more transactions in the multiple transactions;
• and
• automatically matching transaction identifiers of transactions that settled with transaction identifiers of the multiple transactions.

A reconciliation facilitator system, comprising:

• a transaction identifier generator configured to:
• receive from a merchant credit card data for a first credit card transaction;
• generate a unique transaction identifier for the first credit card transaction;
• and
• transmit the unique transaction identifier to the merchant;
• a gateway configured to submit an authorization request for the first credit card transaction toward a credit card issuer;
• a settlement module configured to submit toward the credit card issuer a settlement request to settle a set of credit card transactions, including the first credit card transaction, wherein the settlement request comprises the unique transaction identifier of each;
• and
• a reconciliation module configured to:
• receive a settlement constituting approval of the settlement request, wherein said settlement comprises the unique transaction identifier;
• and
• indicate to the merchant that the first credit card transaction has been settled.