Invention Grant
- Patent Title: Dynamic bin allocation for payment card transactions
- Patent Title (中): 支付卡交易的动态箱分配
-
Application No.: US14028040Application Date: 2013-09-16
-
Publication No.: US08694431B1Publication Date: 2014-04-08
- Inventor: Robert M. Allen , Richard Alan Maxwell
- Applicant: StoneEagle Services, Inc.
- Applicant Address: US TX Richardson
- Assignee: StoneEagle Services, Inc.
- Current Assignee: StoneEagle Services, Inc.
- Current Assignee Address: US TX Richardson
- Agency: Smith & Hopen, P.A.
- Agent Anton J. Hopen
- Main IPC: G06Q40/00
- IPC: G06Q40/00

Abstract:
Preauthorized payments may be made to service providers, repair shops and even vendors serving employees on business trips through credit card processing. The approved payment amount is authorized on a virtually created payment card which is then sent to the payee. These transactions incur interchange fees for the card processing. Therefore, unlike a check or EFT payment, the payee receives the approved payment less interchange fees. Interchange rates vary based on the payment card product offered by an issuing bank in addition to factors relating to how the payment card is processed. The current invention is a method of automatically generating a virtual payment card and/or processing the card in a manner to achieve a target interchange fee.
Public/Granted literature
- US20140089183A1 DYNAMIC BIN ALLOCATION FOR PAYMENT CARD TRANSACTIONS Public/Granted day:2014-03-27
Information query