Linking a merchant account with a financial card

Details Linking a merchant account with a financial card Linking a merchant account with a financial card

2003-02-05

2010-12-21

Patel, Jagdish N (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S042000, C705S044000

Reexamination Certificate

active

07856399

ABSTRACT:
Systems and methods for linking a merchant card with a merchant account. A financial institution that issues the merchant card to a merchant acts as both issuer and acquirer for the merchant. The merchant uses the merchant card to accept other financial cards as payment. Funds due the merchant are added to an available balance of the merchant card rather than depositing the funds in a settlement account. The funds can be added to the available balance before the transactions settle and can be accessed by the merchant. The financial institution also authorizes transactions when the merchant uses the merchant card as a regular cardholder to make payment. The merchant name can be changed on a per transaction basis if desired.

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