Patent ID: 8010429

Claim:
A method, comprising: receiving, by a computer for calculating merchant transaction fees and from a first sender, a summary of charges (SOC), wherein the first sender comprises at least one of a merchant, a payment processor and an acquiring bank; receiving, by the computer and from a second sender, a plurality of records of charges (ROCs) comprising a first ROC, wherein each ROC in the plurality of ROCs comprises ROC data from a financial transaction, wherein the second sender comprises at least one of a merchant, a payment processor and an acquiring bank, and wherein the first ROC is associated with the SOC and includes first ROC data, wherein the first ROC data comprises at least one of a transaction authorization code, a transaction account identifier (TXA-ID), a transaction date, a transaction amount, a transaction time, a merchant identifier (ID), and a product ID; retrieving, by the computer and from a database, custom transaction fee rules associated with a merchant profile associated with the merchant; determining, by the computer and based upon the SOC and the custom transaction fee rules, that the SOC provides insufficient detail to properly determine a merchant transaction fee based on the SOC; in response to the determining that the SOC provides insufficient detail, determining second data by at least one of: acquiring, by the computer, a customer ID from a transaction account database using the TXA-ID; correlating, by the computer, the customer ID with at least one of a customer profile, a customer type, a customer transaction history, and a customer location to determine a customer factor, wherein the second data comprises the customer factor; acquiring, by the computer, the merchant profile based upon the merchant ID from a merchant database; correlating, by the computer, the merchant profile with at least one of a merchant type, a merchant transaction history and a merchant location, to determine a merchant factor, wherein the second data comprises the merchant factor; acquiring, by the computer, product data associated with the product ID from a product database; correlating, by the computer, the product data with at least one of a product type, a product transaction history, a product-customer demographic and a product price, to determine a product factor, wherein the second data comprises the product factor; and, in response to the determining the second data, dynamically calculating, by the computer, the merchant transaction fee according to the custom transaction fee rules using first ROC data, the SOC and the second data, wherein the second data is associated with at least one of the merchant, a consumer, a location, a product, the financial transaction, historical data, current data, projected data, aggregate data, random data, trend data, economic data and third party data.