SYSTEMS AND METHODS FOR DATA AGGREGATION FOR TRANSACTION SETTLEMENT USING MACHINE LEARNING
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United States of America Patent
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Issued Date -
Jun 22, 2023
app pub date -
Feb 10, 2023
filing date -
Sep 3, 2021
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Abstract
Systems and methods are disclosed for data aggregation and efficient routing of the aggregated data for the settlement of payments. The method includes receiving, in real-time, transactions associated with an account of a registered user. The outstanding amount associated with transactions is aggregated based on a first preset time period. The payments for the aggregated outstanding amount are transmitted from a settlement account to an account of a merchant based on the first preset time period and/or a pre-determined total outstanding amount threshold. The transmitted payments are aggregated based on a second preset time period. The amount equivalent to the aggregated transmitted payments is transmitted from the account associated with the registered user to the settlement account based on the second preset time period. A user interface is then generated in devices of the registered user and merchant.
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