The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Feb. 23, 2021
Filed:
Jul. 13, 2016
Justin Howe, San Francisco, CA (US);
Justin Howe, San Francisco, CA (US);
VISA INTERNATIONAL SERVICE ASSOCIATION, San Francisco, CA (US);
Abstract
A apparatus and method is disclosed for optimizing authorization approval in a proposed payment card transaction. In one embodiment an issuing country of the cardholder issuing bank is identified together with a plurality of potential merchant acquiring banks that could be used to process an authorization request for the proposed payment card transaction. Using historical data regarding previous proposed payment card transactions, historical approval rates are identified for each of the identified potential merchant acquiring bank configurations. The merchant acquiring bank configuration with the highest historical approval rating is selected as the optimal merchant bank configuration for processing authorization approval. To improve the ranking of a given configuration, the apparatus and method may exclude from consideration transactions that do not include: the specific bank identifying number (BIN) on the payment card, the collection of BINs belonging to the cardholder issuing bank, and/or the at least one merchant category code associated with the merchant.