Source: https://patents.google.com/patent/US9911110B2/en
Timestamp: 2018-11-18 06:57:53
Document Index: 469486340

Matched Legal Cases: ['Application No. 13', 'Application No. 14760487', 'Application No. 2014225973', 'Application No. 2', 'Application No. 2', 'Application No. 13819366', 'Application No. 14760487', 'Application No. 2014225973', 'Application No. 2', 'Application No. 2']

US9911110B2 - Predicting approval of transactions - Google Patents
US9911110B2
US9911110B2 US13786262 US201313786262A US9911110B2 US 9911110 B2 US9911110 B2 US 9911110B2 US 13786262 US13786262 US 13786262 US 201313786262 A US201313786262 A US 201313786262A US 9911110 B2 US9911110 B2 US 9911110B2
US13786262
US20140258118A1 (en )
1. A method of processing a payment transaction, the method comprising:
receiving, by one or more applications operating on a merchant point-of-sale (POS) terminal associated with a merchant, an indication to process a payment transaction between the merchant and a customer at the merchant POS terminal;
receiving, by the one or more applications operating on the merchant POS terminal and from a card reader, payment information for a payment card that is to be used to process the payment transaction between the merchant and the customer;
determining, at a first time, that a first network connection between the merchant POS terminal and a computing device of a payment service is offline;
subsequent to determining at the first time that the first network connection between the merchant POS terminal and the computing device of the payment service is offline:
performing, by the one or more applications operating on the merchant POS terminal, a risk analysis to determine a likelihood that the payment transaction will be approved at a second time when the first network connection is online, wherein the risk analysis is based at least in part on a risk algorithm model that considers one or more of: (i) one or more risk factors associated with data regarding the payment transaction, (ii) one or more risk factors associated with data regarding the customer, or (iii) one or more risk factors associated with data regarding the merchant, and wherein the risk algorithm model determines a weight for individual ones of the one or more risk factors, weights the one or more risk factors, and calculates a sum of the one or more weighted risk factors;
when the sum of the one or more weighted risk factors is less than a threshold value displaying, on the merchant POS terminal, a rejection of the payment transaction such that the payment information is not saved for future processing;
when the sum of the one or more weighted risk factors is greater than the threshold value:
determining that the payment transaction will likely be approved at the second time when the first network connection of the merchant POS terminal is online;
storing, at the merchant POS terminal, the payment information for future processing of the payment transaction; and
displaying, on the merchant POS terminal, an indication that the merchant should provide an item or service to the customer for the payment transaction;
after storing the payment information, determining that the first network connection between the merchant POS terminal and the computing device of the payment service is online;
subsequent to determining that the first network connection of the merchant POS terminal is online, sending the payment information to the computing device of the payment service to process the payment transaction;
receiving, at the computing device of the payment service and from the merchant POS terminal, the payment information to process the payment transaction;
determining that a second network connection between the payment service and another computing device of a payment processing system is offline;
based at least in part on determining that the second network connection to the other computing device of the payment processing system is offline, storing the payment information at the computing device of the payment service for future processing of the payment transaction;
determining that the second network connection to the other computing device of the payment processing system is online; and
based at least in part on determining that the second network connection to the other computing device of the payment processing system is online, sending the payment information to the other computing device associated with the payment processing system for processing of the payment transaction.
determining the merchant POS terminal has one or more stored payment transactions; and
forwarding each of the stored payment transactions to the payment service.
calculating a wait time, where the wait time is within a range of an average round trip time for a successfully processed transaction; and
waiting the wait time before causing display of the indication.
the data regarding the payment transaction include one or more of the following: a value of the payment transaction, description of the payment transaction, itemization of the payment transaction, a type of transaction input, a signature, or an image of the payment transaction.
the data regarding the customer include one or more of the following: a number of already stored transactions, a total value, where the total value is a sum of the value of the payment transaction and values of one or more already stored transactions, prior transactions, a type of payment card, or customer account information, where the customer account information includes a name, contact information, or location of the customer.
the data regarding the merchant includes one or more of the following: a classification of the merchant, merchant transaction history, merchant account information, where the merchant account information includes age, name, or contact information of the merchant, merchant location, locations of transactions conducted with the merchant, operating system of merchant device, or a type of a financial account of the merchant.
7. The method of claim 1, wherein the payment information is encrypted using a key before the storing, where the key is obtained from the payment service.
8. The method of claim 1, wherein determining that the first network connection of the merchant POS terminal is online occurs after an interval of time.
9. The method of claim 1, wherein the first network connection is a cellular data connection to an Internet.
updating data associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant after determining that the network connection of the merchant POS terminal is online.
data associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant is stored on the merchant POS terminal.
updating the risk algorithm model after determining that the first network connection of the merchant POS terminal is online.
13. A system for processing a payment transaction, the system comprising:
one or more applications executing on a merchant point-of-sale (POS) device associated with a merchant;
first computer-readable media coupled to the processor and having first instructions stored thereon, which, when executed by the processor, cause the processor to perform operations comprising:
receiving, by the one or more applications executing on the merchant POS device and via the card reader, payment information for a payment card that is to be used to process a payment transaction between the merchant and a customer;
determining, at a first time, that a first network connection to a network-based computing device in a payment system is offline;
subsequent to determining, at the first time, that the first network connection to the network-based computing device is offline:
performing a risk analysis to determine a likelihood that the payment transaction will be approved at a second time when the first network connection to the network-based computing device in the payment system is online, wherein the risk analysis is based at least in part on a risk algorithm model that considers one or more of: (i) one or more risk factors associated with data regarding the payment transaction, (ii) one or more risk factors associated with data regarding the customer, or (iii) one or more risk factors associated with data regarding the merchant, and wherein the risk algorithm model determines a weight for individual ones of the one or more risk factors, weights the one or more risk factors, and calculates a sum of the one or more weighted risk factors;
when the sum of the one or more weighted risk factors is less than a threshold value, displaying, on the merchant POS device, a rejection of the payment transaction such that the payment information is not saved for future processing;
determining that the payment transaction will likely be approved at the second time when the first network connection of the merchant POS device is online;
storing, by the one or more applications and at the merchant POS device, the payment information for future processing of the payment transaction; and
displaying, on the merchant POS device, an indication that the merchant should provide an item or service to the customer for the payment transaction;
after storing the payment information, determining that the first network connection to the network-based computing device in the payment system is online; and
subsequent to determining that the first network connection to the network-based computing device in the payment system is online, sending the payment information to the network-based computing device to process the payment transaction; and
the network-based computing device in the payment system comprising:
second computer-readable media coupled to the second processor and having second instructions stored thereon, which, when executed by the second processor, cause the second processor to perform acts comprising:
receiving, from the merchant POS device, the payment information to process the payment transaction;
determining that a second network connection to a computing device of a payment processing system is offline;
based at least in part on determining that the second network connection to the computing device of the payment processing system is offline, storing the payment information for future processing of the payment transaction;
determining that the second network connection to the computing device of the payment processing system is online; and
based at least in part on determining that the second network connection to the computing device of the payment processing system is online,
sending the payment information to the computing device of the payment processing system for processing of the payment transaction.
14. The system of claim 13, wherein performing the risk analysis to determine the likelihood that the payment transaction will be approved at the second time, storing the payment information, and sending the payment information are performed on the merchant POS device.
determining the merchant POS device has one or more stored payment transactions; and
forwarding each of the stored payment transactions to the payment system.
16. The system of claim 13, wherein the acts further comprise performing another risk analysis to determine a likelihood that the payment transaction will be approved in the future.
determining the payment system has one or more stored payment transactions; and
forwarding each of the stored payment transactions to the payment processing system.
18. The system of claim 13, where the operations further comprise:
19. The system of claim 13, wherein the data regarding the payment transaction includes one or more of the following: a value of the payment transaction, description of the payment transaction, itemization of the payment transaction, a type of transaction input, a signature, or an image of the payment transaction.
20. The system of claim 13, wherein the data regarding the customer includes one or more of the following: a number of already stored transactions, a total value, where the total value is a sum of the value of the payment transaction and values of one or more already stored transactions, prior transactions, a type of payment card, or customer account information, where the customer account information includes a name, contact information, or location of the customer.
21. The system of claim 13, wherein the data regarding the merchant includes one or more of the following: a classification of the merchant, merchant transaction history, merchant account information, where the merchant account information includes age, name, or contact information of the merchant, merchant location, locations of transactions conducted with the merchant, operating system of merchant device, or a type of a financial account of the merchant.
22. The system of claim 13, wherein the payment information is encrypted using a key before the storing, where the key is obtained from the payment system.
23. The system of claim 13, wherein determining that the first network connection to the network-based computing device in the payment system is online occurs after an interval of time.
24. The system of claim 13, wherein the first network connection is a cellular data connection to an Internet.
25. The system of claim 13,
updating data at the merchant POS device associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant after determining that the first network connection to the network-based computing device in the payment system is online.
26. The system of claim 13,
wherein data associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant is stored on the merchant POS device.
27. The system of claim 13, wherein the operations further comprise:
updating the risk algorithm model used to perform the risk analysis after determining that the first network connection to the network-based computing device in the payment system is online.
28. A system for processing a payment transaction, the system comprising:
first non-transitory computer-readable media having instructions stored thereon which, when executed by the first processor, cause the first processor to perform operations comprising:
receiving, by the one or more applications executing on the merchant POS device and via the card reader, payment information for a payment card that is to be used to process a payment transaction between a merchant and a customer;
determining, at a first time, that a first network connection between the merchant POS device and a computing device in a payment system is offline;
subsequent to determining, at the first time, that the first network connection to the computing device in the payment system is offline:
performing a risk analysis to determine a likelihood that the payment transaction will be approved at a second time when the first network connection to the computing device in the payment system is online, wherein the risk analysis is based at least in part on a risk algorithm model that considers one or more of: (i) one or more risk factors associated with data regarding the payment transaction, (ii) one or more risk factors associated with data regarding the customer, or (iii) one or more risk factors associated with data regarding the merchant, and wherein the risk algorithm model determines a weight for individual ones of the one or more risk factors, weights the one or more risk factors, and calculates a sum of the one or more weighted risk factors;
storing, at the merchant POS device, the payment information for future processing of the payment transaction; and
after storing the payment information, determining that the first network connection to the computing device in the payment system is online; and
based at least in part on determining that the first network connection to the computing device in the payment system is online, sending the payment information, from the merchant POS device, to the payment system to process the payment transaction; and
the payment system, comprising:
second non-transitory computer-readable media having instructions stored thereon, which, when executed by the second processor, cause the second processor to perform acts comprising:
determining that a second network connection to another computing device of a payment processing system is offline;
based at least in part on determining that the second network connection to the other computing device of the payment processing system is offline, storing the payment information for future processing of the payment transaction;
based at least in part on determining that the second network connection to the other computing device of the payment processing system is online, sending the payment information to the other computing device of the payment processing system for processing of the payment transaction.
29. The system of claim 28, wherein the one or more applications executing on the merchant POS device perform the risk analysis to determine a likelihood that the payment transaction will be approved in the future, storing the payment information, and sending the payment information.
30. The system of claim 29, where the operations further comprise:
31. The system of claim 28, wherein the acts further comprise performing another risk analysis to determine a likelihood that the payment transaction will be approved in the future.
forwarding each of the stored payment transactions to the other computing device of the payment processing system.
33. The system of claim 28, where the operations further comprise:
the one or more risk factors associated with the data regarding the payment transaction include one or more of the following: a value of the payment transaction, description of the payment transaction, itemization of the payment transaction, a type of transaction input, a signature, or an image of the payment transaction.
the one or more risk factors associated with the data regarding the customer includes one or more of the following: a number of already stored transactions, a total value, where the total value is a sum of the value of the payment transaction and values of one or more already stored transactions, prior transactions, a type of payment card, or customer account information, wherein the customer account information includes a name, contact information, or location of the customer.
the one or more risk factors associated with the data regarding the merchant includes one or more of the following: a classification of the merchant, merchant transaction history, merchant account information, where the merchant account information includes age, name, or contact information of the merchant, merchant location, locations of transactions conducted with the merchant, operating system of merchant device, or a type of a financial account of the merchant.
37. The system of claim 28, wherein the payment information is encrypted using a key before the storing, where the key is obtained from the payment system.
38. The system of claim 28, wherein determining that the first network connection to the computing device in the payment system is online occurs after an interval of time.
39. The system of claim 28, wherein the first network connection is a cellular data connection to an Internet.
updating data associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant after determining that the network connection to the computing device in the payment system is online.
data associated with at least one of (i) the one or more risk factors associated with data regarding the payment transaction, (ii) the one or more risk factors associated with data regarding the customer, or (iii) the one or more risk factors associated with data regarding the merchant is stored on the merchant POS device.
42. The system of claim 28, wherein
updating the risk algorithm model after determining that the first network connection to the computing device in the payment system is online.
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