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SG10201701688PA - Electronic system and method for processing merchandise purchase transactions - Google Patents

Electronic system and method for processing merchandise purchase transactions

Info

Publication number
SG10201701688PA
SG10201701688PA SG10201701688PA SG10201701688PA SG10201701688PA SG 10201701688P A SG10201701688P A SG 10201701688PA SG 10201701688P A SG10201701688P A SG 10201701688PA SG 10201701688P A SG10201701688P A SG 10201701688PA SG 10201701688P A SG10201701688P A SG 10201701688PA
Authority
SG
Singapore
Prior art keywords
merchant
consumer
merchandise
transferring
cost
Prior art date
Application number
SG10201701688PA
Inventor
Gupta Sudhir
Original Assignee
Mastercard International Inc
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Mastercard International Inc filed Critical Mastercard International Inc
Priority to SG10201701688PA priority Critical patent/SG10201701688PA/en
Priority to US15/899,944 priority patent/US20180253722A1/en
Publication of SG10201701688PA publication Critical patent/SG10201701688PA/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/12—Payment architectures specially adapted for electronic shopping systems
    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/22—Payment schemes or models
    • G06Q20/24—Credit schemes, i.e. "pay after"
    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
    • G06Q20/32—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using wireless devices
    • G06Q20/327—Short range or proximity payments by means of M-devices
    • G06Q20/3276—Short range or proximity payments by means of M-devices using a pictured code, e.g. barcode or QR-code, being read by the M-device
    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/40—Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
    • G06Q20/405—Establishing or using transaction specific rules
    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/03—Credit; Loans; Processing thereof

Landscapes

  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Engineering & Computer Science (AREA)
  • General Business, Economics & Management (AREA)
  • Theoretical Computer Science (AREA)
  • Strategic Management (AREA)
  • General Physics & Mathematics (AREA)
  • Physics & Mathematics (AREA)
  • Finance (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Technology Law (AREA)
  • Marketing (AREA)
  • Computer Security & Cryptography (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

ELECTRONICSYSTEM AND METHOD FOR PROCESSING MERCHANDISE PURCHASE TRANSACTIONS The present disclosure generally relates to an electronic system and method for processing a merchandise purchase transaction between a merchant and a consumer. The system comprises a server communicatively linked to a payment network, the server configured for performing steps of the method, comprising: receiving, from a digital wallet of the consumer, transaction data comprising identification data of the merchant, data on cost of the merchandise, and details of a consumer payment instrument linked to the digital wallet; determining, from a consumer database, a purchase credit line availed to the consumer by a financial loan instrument linked to the server; determining a loan amount from the purchase credit line to offset the merchandise cost; retrieving, from a merchant database, details of a financial account of the merchant based on the merchant identification data; and transferring the merchandise cost via the payment network to the merchant financial account, comprising: transferring the merchandise cost less the loan amount from the consumer payment instrument; and transferring the loan amount from the financial loan instrument; and communicating a reservation message to the merchant to reserve the merchandise for the consumer for a predefined time period. FIG. 30
SG10201701688PA 2017-03-02 2017-03-02 Electronic system and method for processing merchandise purchase transactions SG10201701688PA (en)

Priority Applications (2)

Application Number Priority Date Filing Date Title
SG10201701688PA SG10201701688PA (en) 2017-03-02 2017-03-02 Electronic system and method for processing merchandise purchase transactions
US15/899,944 US20180253722A1 (en) 2017-03-02 2018-02-20 Electronic System and Method for Processing Merchandise Purchase Transactions

Applications Claiming Priority (1)

Application Number Priority Date Filing Date Title
SG10201701688PA SG10201701688PA (en) 2017-03-02 2017-03-02 Electronic system and method for processing merchandise purchase transactions

Publications (1)

Publication Number Publication Date
SG10201701688PA true SG10201701688PA (en) 2018-10-30

Family

ID=63355136

Family Applications (1)

Application Number Title Priority Date Filing Date
SG10201701688PA SG10201701688PA (en) 2017-03-02 2017-03-02 Electronic system and method for processing merchandise purchase transactions

Country Status (2)

Country Link
US (1) US20180253722A1 (en)
SG (1) SG10201701688PA (en)

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
IT202100005714A1 (en) * 2021-03-11 2022-09-11 Corner Banca Sa METHOD AND SYSTEM FOR PROVIDING PURCHASE PROPOSALS AND PERSONALIZED AND/OR AUTOMATED PAYMENT SERVICES

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* Cited by examiner, † Cited by third party
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US11095456B2 (en) 2019-05-24 2021-08-17 Bank Of America Corporation Distributed tiered data exchanges within a blockchain network
CN111199484B (en) * 2019-12-31 2023-09-26 东莞盟大集团有限公司 Block chain technology-based settlement method and device, equipment and storage medium
US20220207520A1 (en) * 2020-12-28 2022-06-30 Paypal, Inc. Systems and methods for managing electronic transactions
US12499207B1 (en) 2022-03-14 2025-12-16 United States Automobile Association (USSA) Validating a member and securing access to member data
US12518266B1 (en) 2023-02-27 2026-01-06 United States Automobile Association (USAA) Blockchain based verification of electronic addresses or communication identifiers

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Publication number Priority date Publication date Assignee Title
JP3660101B2 (en) * 1996-11-14 2005-06-15 松下電器産業株式会社 Personal electronic payment system
KR20060022734A (en) * 1997-08-13 2006-03-10 마츠시타 덴끼 산교 가부시키가이샤 Mobile ecommerce systems
WO2009124262A1 (en) * 2008-04-04 2009-10-08 Metabank System, program product and method for performing an incremental automatic credit line draw using a prepaid card
US9390410B2 (en) * 2010-02-18 2016-07-12 Lemon, Inc. Automated transaction system and settlement processes
EP2649745A4 (en) * 2010-12-10 2014-05-07 Electronic Payment Exchange Tokenized contactless payments for mobile devices
AU2012261904A1 (en) * 2011-06-03 2013-11-28 Visa International Service Association Virtual wallet card selection apparatuses, methods and systems
US20140279469A1 (en) * 2013-03-12 2014-09-18 Carta Worldwide Inc. System and method for mobile transaction payments
US20160232515A1 (en) * 2013-09-20 2016-08-11 Lucova Inc. Systems and methods for facilitating mobile commerce interactions between customers and merchants
US10664833B2 (en) * 2014-03-05 2020-05-26 Mastercard International Incorporated Transactions utilizing multiple digital wallets
US20160371771A1 (en) * 2015-06-16 2016-12-22 BitPagos, Inc. Loan processing service utilizing a distributed ledger digital asset
JP2017027498A (en) * 2015-07-27 2017-02-02 東芝テック株式会社 Payment apparatus, payment system, and program
US11170365B2 (en) * 2016-10-19 2021-11-09 Visa International Service Association Digital wallet merchant-specific virtual payment accounts

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
IT202100005714A1 (en) * 2021-03-11 2022-09-11 Corner Banca Sa METHOD AND SYSTEM FOR PROVIDING PURCHASE PROPOSALS AND PERSONALIZED AND/OR AUTOMATED PAYMENT SERVICES

Also Published As

Publication number Publication date
US20180253722A1 (en) 2018-09-06

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