Jpmorgan Chase Bank, N.a.

William S Wallace

Mark Robert Sheehan

Lee Knackstedt

William Smith Rielly

Glen R Cataline

Ayman A Hammad

A method for real time negotiation among parties to a transaction may include (1) a computer application executed by a computer processor on a mobile electronic device receiving, from a merchant computer processor at a merchant computer system, an offer to conduct a transaction using a first payment mechanism accepted by the merchant, the offer comprising a first consumer benefit; (2) comparing the first benefit to at least one consumer benefit preference; (3) automatically presenting a second payment mechanism associated with a second consumer benefit or a modification to the first consumer benefit; and (4) agreeing on an agreed payment mechanism and an agreed consumer benefit, wherein the agreed payment mechanism is the first payment mechanism or the second payment mechanism, and the agreed consumer benefit is the first consumer benefit, the second consumer benefit, or the modification to the first consumer benefit.

Systems and methods for real time, automated negotiation among parties to a transaction

Methods and systems of the invention provide a variety of techniques for processing microtransactions. In accordance with the invention, the method starts with a customer initiating a purchase through interaction with a merchant. The purchase is associated with purchase information, which includes the particulars of the purchase, such as the purchase price. In the purchase, the customer uses a transaction account, obtained from a payment enabler. The purchase is classified as a microtransaction, if the purchase price is below a predetermined monetary amount. Thereafter, the purchase information is forwarded for processing based on the classifying, i.e., either as a regular transaction or as a microtransaction. Then, upon receipt of the purchase information by an appropriate recipient, such as an interchange entity or an alternate interchange entity, the purchase information is processed to effect the microtransaction, if so classified, between the customer and the merchant.

System and method for processing microtransactions

A system for transferring funds to pay bills and to and from selected accounts on an optimized is provided. A mediation engine may manage the payments made to selected payees, including by scheduling the payments and selecting sources for funds. A rules-based optimizer may automatically select the least-cost or other most efficient or desirable transaction, given the customer's available funds, types of funds and payment date. All payment providers and payees may manipulated using one seamless view. A customer service representative may also view the transfers.

System and method for selectable funding of electronic transactions

The method and system of the invention provide a variety of techniques for processing a microtransaction, wherein the microtransaction is a low monetary amount. In accordance with the invention, the method starts with a customer initiating a purchase through interaction with a merchant. The purchase is associated with purchase information, which includes the particulars of the purchase, such as the purchase price. In the purchase, the customer uses a transaction account, obtained from a payment enabler. The merchant submits the purchase information for processing of the purchase information. Thereafter, the purchase is classified as a microtransaction, if the purchase price is below a predetermined monetary amount. Thereafter, the purchase information is forwarded for processing based on the classifying, i.e., as a result of the purchase being classified as a microtransaction. Then, upon receipt of the purchase information by an appropriate recipient, such as an interchange entity or an alternate interchange entity, the purchase information is processed to effect the microtransaction between the customer and the merchant.

System and method for processing mircotransactions

The invention provides systems and methods for managing transactions. The system includes a data input portion that communicates first information regarding a payment request, as well as a decision reference data store for communicating second information regarding parameters for use in determining a payment option for the payment request. The system also includes a processor. The processor inputs the first information and the second information. Then, the processor selectably determines the payment option to direct a transmission of funds from at least one payment source to at least one payee account based on an optimization determination performed by the processor. The optimization determination may provide savings to the institution processing the transaction, or alternatively, may provide savings to the customer initiating the transaction, for example.

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Downington, PA, United States of America

William S Wallace