Invention Grant
- Patent Title: Systems and methods for optimizing transaction authorization conversion rate
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Application No.: US15717500Application Date: 2017-09-27
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Publication No.: US10607231B1Publication Date: 2020-03-31
- Inventor: William H. Cohn , Sayid Shabeer , Ned Canning
- Applicant: Vantiv, LLC
- Applicant Address: US OH Symmes Township
- Assignee: Worldpay, LLC
- Current Assignee: Worldpay, LLC
- Current Assignee Address: US OH Symmes Township
- Agency: Bookoff McAndrews, PLLC
- Main IPC: G06Q20/00
- IPC: G06Q20/00 ; G06Q20/40

Abstract:
A method for optimizing transaction authorization conversion rates includes retrieving payment transaction parameters and authorization results for a plurality of past payment transactions, generating authorization success factors for each of a plurality of payment transaction parameters based on the retrieved payment transaction parameters and authorization results, receiving, at an acquirer processor, a payment transaction from a merchant, modifying one or more parameters of the payment transaction according to the generated authorization success factors, and submitting the modified payment transaction to a financial institution for processing.
Information query