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:
Jul. 12, 2022
Filed:
Jun. 13, 2019
Mastercard International Incorporated, Purchase, NY (US);
Irina Singh, White Plains, NY (US);
Sandeep Malhotra, Greenwich, CT (US);
Suman Rausaria, Ballwin, MO (US);
MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US);
Abstract
A request for a refund is received relative to a payment transaction implemented in a real-time payment system. The request is transmitted to an issuer financial institution that maintains an account for the payer in the payment transaction. A response is received from the issuer financial institution. The response is transmitted to an acquirer financial institution that provides financial services to the recipient of the payment transaction. A first transfer message is transmitted to the issuer financial institution directing the issuer financial institution to credit a refund amount to the payer's account and to debit a settlement holding account maintained by the issuer financial institution. A second transfer message is transmitted to the acquirer financial institution to debit the refund amount from the recipient's account. The refund amount is settled from the acquirer financial institution to the issuer financial institution via a payment card account network settlement system.