Invention Grant
- Patent Title: Processing non-traditional transactions on a traditional payment network
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Application No.: US12835517Application Date: 2010-07-13
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Publication No.: US09940619B2Publication Date: 2018-04-10
- Inventor: Farhan Ahmad , Meeri Siljamaki
- Applicant: Farhan Ahmad , Meeri Siljamaki
- Applicant Address: US IL Riverwoods
- Assignee: DFS Services LLC
- Current Assignee: DFS Services LLC
- Current Assignee Address: US IL Riverwoods
- Agency: Leydig, Voit & Mayer, Ltd.
- Main IPC: G06Q40/00
- IPC: G06Q40/00 ; G06Q20/40 ; G06Q20/04 ; G06Q20/10 ; G06Q20/12 ; G06Q30/02

Abstract:
A system for and methods of processing non-traditional payment transactions on a traditional payment network is disclosed. More specifically, a payments system includes one or more payment program managers (PPMs), which are the providers of alternative payment products, in combination with one or more payment program processors (PPPs), which serve as processors for the PPMs. The PPMs and PPPs operate on a payment network, such as a traditional payment network. The payments system includes the utilization of traditional bank identification numbers (BINS) in order to process non-traditional transactions on a traditional payment network. Surrogate numbers are issued on BIN ranges to the non-traditional transactions in order to process them on the traditional payment network. Additionally, the payments system includes pricing structures that are associated with alternative payment products. These pricing structures are implemented and processed on the payment network, alongside the pricing structures of traditional payment products.
Public/Granted literature
- US20120016728A1 PROCESSING NON-TRADITIONAL TRANSACTIONS ON A TRADITIONAL PAYMENT NETWORK Public/Granted day:2012-01-19
Information query