Patent ID: 11907930
Assignee: MASTERCARD INTERNATIONAL INCORPORATED
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A computer-based method for managing payment transactions using a real-time merchant account activation process for a merchant using a service provider computing device coupled to a memory device, wherein the real-time merchant account activation process includes a primary approval process and a secondary approval process, and wherein each transaction is initiated by a consumer using a payment card and accepted by the merchant using a merchant mobile device, said method comprising:
receiving, at the service provider computing device, a registration request requesting an activation of a merchant account for a candidate merchant and including registration data associated with the candidate merchant;
initiating the primary approval process for registering the candidate merchant with an acquiring bank in real-time, wherein the primary approval process includes comparing the registration data of the candidate merchant to a high risk merchant list, and verifying the candidate merchant under the primary approval process if the comparing generates a no match for the candidate merchant;
transmitting, from the service provider computing device, in real-time, an account request message to an acquiring bank computer device associated with the acquiring bank upon approval by the primary approval process, the account request message requesting an opening of the merchant account for the verified candidate merchant with the acquiring bank;
receiving, at the service provider computing device, in real-time, merchant account data from the acquiring bank computer device, the merchant account data representing an agreement by the acquiring bank to underwrite payment transactions submitted by the candidate merchant to a merchant manager module of the service provider computing device, the verified candidate merchant becoming a registered merchant in real-time and having a merchant account with the acquiring bank upon approval through the secondary approval process;
based on the registered merchant account, transmitting a credential request message to a payment processor computing device requesting provisioning of registered merchant credentials for the registered merchant from the payment processor computing device after the merchant account data is received, wherein the registered merchant credentials include security keys for the merchant to access and communicate with the merchant manager module during a first payment transaction;
prompting the payment processor computing device to generate, in response to the credential request message, a gateway account and associated registered merchant credentials enabling the registered merchant to perform the first transaction and receive an amount of funds associated with the first transaction, wherein the gateway account is different from the merchant account;
receiving, at the merchant manager module, the gateway account and associated registered merchant credentials from the payment processor computing device, wherein the associated registered merchant credentials include access data, and wherein the access data enables the merchant computing device to interface with the merchant manager module for processing payment card transactions;
after the secondary approval process is completed, receiving, from the merchant mobile device associated with the registered candidate merchant, a request to access a dashboard application served by the service provider computing device, the dashboard application enabling access to a plurality of merchant manager applications including a payment application;
receiving, from the merchant mobile device via an interaction with the payment application served to the merchant mobile device, transaction data associated with the first payment transaction and the merchant account data;
processing, at the merchant manager module using the gateway account and associated registered merchant credentials, the first payment transaction; and
causing the merchant manager module of the service provider computing device to complete, in real-time, the processing of the first payment transaction.