Method and system for processing electronic payment...

Details Method and system for processing electronic payment... Method and system for processing electronic payment...

2004-03-12

2009-08-18

Havan, Thu Thao (Department: 3695)

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

Automated electrical financial or business practice or...

Finance

C705S03600T

Reexamination Certificate

active

07577599

ABSTRACT:
Systems and methods are provided for processing electronic payment transaction information. A transaction software engine operating in a server at a merchant's site effectuates the authorization of electronic payment requests and the settlement of authorized electronic payments. Authorization requests are sent by a terminal at the merchant's site to the server as each transaction occurs. Batches of settlement requests are processed after a predetermined time, although the transactions are processed on a transaction-by-transaction basis. The transaction software engine is capable of accepting data of varying formats and re-encoding such data so that it can be processed by a host associated with a data transaction provider. Accordingly, the transaction software engine processes data received from a variety of terminals as well as data sent to and received from a variety of data transaction providers.

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International Search Report and Written Opinion for PCT/US2005/004738.

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