Method and apparatus for optimizing authorization approval in a payment card transaction
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United States of America Patent
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Feb 23, 2021
Grant Date -
Jan 18, 2018
app pub date -
Jul 13, 2016
filing date -
Jul 13, 2016
priority date (Note) -
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Abstract
A apparatus and method is disclosed for optimizing authorization approval in a proposed payment card transaction. In one embodiment an issuing country of the cardholder issuing bank is identified together with a plurality of potential merchant acquiring banks that could be used to process an authorization request for the proposed payment card transaction. Using historical data regarding previous proposed payment card transactions, historical approval rates are identified for each of the identified potential merchant acquiring bank configurations. The merchant acquiring bank configuration with the highest historical approval rating is selected as the optimal merchant bank configuration for processing authorization approval. To improve the ranking of a given configuration, the apparatus and method may exclude from consideration transactions that do not include: the specific bank identifying number (BIN) on the payment card, the collection of BINs belonging to the cardholder issuing bank, and/or the at least one merchant category code associated with the merchant.
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