Method and system for dynamically processing financial transactions

Number of patents in Portfolio can not be more than 2000

United States of America

PATENT NO 12236426
APP PUB NO 20220292504A1
SERIAL NO

17199611

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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The present disclosure discloses a method and system for dynamically processing financial transactions. The method includes receiving a transaction request including at least one unique identifier field to transfer payment into an account associated with a payment instrument and authorizing the transaction request based on one or more predetermined rules. The payment instrument is used at an electronic device by a merchant for transfer of the payment from a merchant account. Thereafter, the method includes generating a direct fund transfer message based on the at least one unique identifier field upon authorization of the transaction request and transmitting the direct fund transfer message to an issuer associated with the merchant account for authentication of the direct fund transfer message. Lastly, the method includes transferring dynamically the payment from the merchant account to the account associated with the payment instrument when the direct fund transfer message is authenticated by the issuer.

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Patent Owner(s)

  • VISA INTERNATIONAL SERVICE ASSOCIATION

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Singhal, Rahul Whitefield, IN 8 6
Sukhija, Rohit Whitefield, IN 25 54
Vyas, Surendra Gunjur, IN 8 13

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