Mastercard International Incorporated

Navneet Jain

Piyush Sharma

Arunmurthy Gurunathan

Ganesh Shinde

Ravinder Wadhwa

Sonal Vishwas Khanvilkar

Puneet Gandhi

Rohit Mali

A system comprises a server configured for performing steps of receiving, from an acquirer financial institution for a merchant, details of a transaction and a common virtual payment token. The transaction details include details of the merchant. Identification details of a set of consumer payment instruments associated with the common virtual payment token are retrieved from a consumer database. The consumer payment instrument for the merchant is selected from the set of consumer payment instruments, based on the merchant details. Payment details of the selected consumer payment instrument are retrieved from the consumer database. The transaction is processed with the selected consumer payment instrument by communicating to an issuer financial institution for the selected consumer payment instrument, the transaction details and the payment details of the selected consumer payment instrument.

Electronic system and method for transaction processing

Embodiments provide a method for facilitating a payment transaction at a POS terminal. The method includes receiving, by a server system associated with a payment network, a machine-readable code comprising information corresponding to a merchant and a dynamic token. The machine-readable code is valid for only a pre-defined interval. The method includes sending, by the server system, a notification associated with the machine-readable code received from the customer device, to a merchant device for approval of the payment transaction. The method further includes receiving, by the server system, a merchant defined transaction code from the merchant device in response to receipt of the notification at the merchant device. The merchant defined transaction code indicates a nature of the payment transaction. facilitating, by the server system, the payment transaction upon receipt of the merchant defined transaction code from the merchant device.

Methods and systems for facilitating payment transactions at point of sale terminals

The present disclosure generally relates to an electronic system, a computerized method, and a non-transitory computer-readable storage medium comprising instructions for processing a transaction between a consumer and a merchant with a payment instrument of the consumer selected for the merchant. The system comprises a server configured for performing steps of the method comprising: receiving, from an acquirer financial institution for the merchant, details of the transaction and a common virtual payment token, the transaction details comprising details of the merchant; retrieving, from a consumer database, identification details of a set of consumer payment instruments associated with the common virtual payment token; selecting, from the set of consumer payment instruments, the consumer payment instrument for the merchant based on the merchant details; retrieving, from the consumer database, payment details of the selected consumer payment instrument; and processing the transaction with the selected consumer payment instrument, said transaction processing comprising communicating, to an issuer financial institution for the selected consumer payment instrument, the transaction details and the payment details of the selected consumer payment instrument.

Methods and server systems for facilitating sharing of reward points between users are disclosed. Information related to linked one or more social IDs of a first user to a payment account of the first user is received and stored in a mapping file. A request for reward points redemption is initiated by the second user in response to an offer to redeem a fixed number of reward points posted by the first user on a social media platform. A social ID used by the second user to initiate the request on the social media platform is identified. A transfer of the fixed number of reward points from the first user to the second user is facilitated based on the mapping file and the social ID of the second user.

Method and system for facilitating sharing of reward points

System and method for facilitating electronic payment on delivery of a product. The system includes a merchant device; a manufacturer device that is in communication with the merchant device; and a courier device that is in communication with the merchant device. The merchant device is configured to: receive, from an issuer device that is in communication with the merchant device, a pre-authorization code in response to a request for pre-authorization of a transaction corresponding to an electronic payment request for the product; and generate a first machine-readable code having encoded thereon at least the pre-authorization code and an identifier corresponding to the product. The manufacturer device is configured to generate a second machine-readable code having encoded thereon at least the pre-authorization code and the identifier corresponding to the product. The courier device is configured to: generate a third machine-readable code having encoded thereon at least the pre-authorization code and the identifier corresponding to the product; and transmit, to the issuer device, an instruction to either (i) complete an authorization of the transaction or (ii) cancel the pre-authorization of the transaction, based on a comparison of the pre-authorization code and the identifier corresponding to the product that are encoded on the first, second and third machine-readable codes during delivery of the product.

System and method for electronic payment on delivery

An apparatus for processing electronic payment transactions is provided. The apparatus includes a computer processor and a data storage device, the data storage device having an incoming and an outgoing transaction initiation module including non-transitory instructions operative by the processor to receive an order indication at a payment intermediary server, the order indication indicating an order by a customer having an order value amount, initiate a transaction from an account associated with the customer to an intermediary account for the order value amount, initiate a transaction from the intermediary account to an account associated with the merchant for a first portion of the order value amount, receive an order feedback indication, and initiate a further transaction or further transactions in response to the order feedback indication to transfer the second portion of the order value amount to the account associated with the merchant and/or the account associated with the customer.

Electronic payment processing apparatus and method

Disclosed is a system for executing a computer process for processing a transaction. The system comprises a point-of-sale (POS) terminal, and an application support terminal (AST). The POS terminal comprises a POS processor and a POS memory device in communication with the POS processor and storing POS program instructions thereon. The POS processor is operative with the POS program instructions to receive transaction information comprising payment vehicle credentials of a payment vehicle for use in processing the transaction, and transaction details defining the transaction. The POS processor is further operative to determine, based on the transaction information, that the POS terminal cannot process the transaction, send the transaction information to the AST, the AST comprising an AST processor, and an AST memory device in communication with the AST processor and storing an application capable of processing the transaction using the payment vehicle credentials, and AST program instructions thereon. The AST processor is operative with the application and AST program instructions to process payment for the transaction through the AST, and forward a transaction confirmation notification from the AST to the POS terminal, the transaction confirmation notification specifying whether the transaction was successfully or unsuccessfully processed.

Growing community of inventors

Pune, India

Navneet Jain