System and method for processing microtransactions

A computer-implemented system for processing microtransactions, the system comprising:

• at least one processor, at least one storage device, and at least one communication interface, which are configured to perform the following:
• receiving a request from a customer for an attempted transaction with a merchant, the request comprising identifying information associated with a transaction account and a transaction amount, the transaction account provided by a payment enabler;
• classifying the attempted transaction as a microtransaction if the transaction amount is below a predetermined monetary amount, and otherwise classifying the attempted transaction as a non-microtransaction;
• submitting the transaction request for authorization by the payment enabler according to a first protocol for non-microtransactions, if the attempted transaction is a non-microtransaction;
• determining, by at least one processor, an authorization requirement for the customer, and
• if the authorization requirement indicates no authorization needed, approving the attempted transaction without submitting the transaction request for further authorization by the payment enabler,
• otherwise, submitting the transaction request for authorization by the payment enabler according to either a second protocol for microtransactions or the first protocol for non-microtransactions.

A computer-implemented method for processing microtransactions, the method comprising:

• receiving, by at least one processor, a request from a customer for an attempted transaction with a merchant, the request comprising identifying information associated with a transaction account and a transaction amount, the transaction account provided by a payment enabler;
• classifying, by at least one processor, the attempted transaction as a microtransaction if the transaction amount is below a predetermined monetary amount, and otherwise classifying the attempted transaction as a non-microtransaction;
• submitting, via a communication interface, the transaction request for authorization by the payment enabler according to a first protocol for non-microtransactions, if the attempted transaction is a non-microtransaction;
• determining, by at least one processor, an authorization requirement for the customer, and
• if the authorization requirement indicates no authorization needed, submitting the transaction request for authorization according to a second protocol for microtransactions,
• otherwise, submitting the transaction request for authorization according to the first protocol for non-microtransactions.