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US 8,301,559 B2Granted
Determination of interchange categories
AssigneePE Systems
InventorsAlan Wayne McElroy, Thomas P. Parrish, Kelly Birr
Life of this patent
Estimating the term…
Abstract
This document describes tools capable of auditing and/or determining reductions to card-issuer interchange fees charged for credit-card transactions. The tools may do so automatically and with user interaction for large amounts of transactions.
Claims13
One or more computer-readable storage media having computer-readable instructions that, when executed by a computing device, cause the computing device to perform acts comprising:
- receiving credit card transaction data from a database for credit card transactions associated with a particular merchant, the credit card transaction data indicating, for one or more credit card transactions, an interchange category assigned by a card issuer;
- receiving published interchange-category parameters for the interchange category assigned, the published interchange-category parameters comprising a merchant-status parameter specific to a status of a merchant;
- receiving a parameter specific to a status of the particular merchant;
- and
- determining, automatically and without user interaction and for the one or more credit card transactions, whether the interchange category assigned is correct based on whether the merchant-status parameter matches the status of the particular merchant.
2 more elements
Dependencies are inferred from the claim text.