Systems and methods for managing transactions for a merchant

Abstract

A method and system for managing payment transactions for a merchant using a computing device coupled to a memory device is described. Each transaction is initiated by a consumer using a payment card. The method includes receiving a registration request from a candidate merchant for enrollment within a manager module wherein the registration request includes registration data associated with the candidate merchant, executing a primary approval process using at least some of the registration data, and transmitting an account request message requesting an opening of a merchant account for the candidate merchant with an acquiring bank upon approval. The method further includes receiving, in real-time, merchant account data associated with the candidate merchant from the acquiring bank upon approval by a secondary approval process wherein the candidate merchant becomes a registered merchant upon the secondary approval. The method further includes managing a first payment transaction submitted by the registered merchant.

What is claimed is: 
     
         1 . A computer-based method for managing payment transactions for a merchant using a computing device coupled to a memory device, wherein each transaction is initiated by a consumer using a payment card, said method comprising:
 receiving, at the computing device, a registration request from a candidate merchant for enrollment within a manager module included within the computing device, the registration request including registration data associated with the candidate merchant;   executing by the merchant manager module a primary approval process using at least some of the registration data;   transmitting an account request message requesting an opening of a merchant account for the candidate merchant with an acquiring bank upon approval by the primary approval process, wherein the account request message includes the registration data;   receiving, in real-time, merchant account data associated with the candidate merchant from the acquiring bank upon approval by a secondary approval process, wherein the acquiring bank performs the secondary approval process using at least some of the registration data, the merchant account data representing an agreement by the acquiring bank to underwrite payment transactions submitted by the candidate merchant to the merchant manager module, the candidate merchant becoming a registered merchant upon secondary approval; and   managing, at the merchant manager module, a first payment transaction submitted by the registered merchant by transmitting transaction data associated with the first payment transaction and the merchant account data to a payment processor for processing.   
     
     
         2 . A computer-based method in accordance with  claim 1 , wherein receiving a registration request from a candidate merchant further comprises:
 receiving, at the computing device, a registration request including registration data associated with the candidate merchant, the registration data including at least one of a legal name, a statement name, a URL (Uniform Resource Locator), a description, a customer service phone number, a business address, a business city, a business state, a business zip code, a business state of filing, a business start date, a business type, a tax id/EIN, an owner first name, an owner last name, an owner address, an owner city, an owner state, an owner zip code, a social security number, a date of birth, a phone number, a mobile phone number, a bank name, a routing number, an account number, an average payment amount, an average number of payments monthly, a maximum payment amount, whether the merchant ships goods (Y/N), and a typical number of days to delivery.   
     
     
         3 . A computer-based method in accordance with  claim 1 , wherein executing by the merchant manager module a primary approval process further comprises:
 storing a high risk merchant list within the memory device;   comparing the registration data of the candidate merchant to the high risk merchant list; and   approving the candidate merchant under the primary approval process if the comparison step generates a no match for the candidate merchant, wherein a no match indicates a low risk that the candidate merchant is a high risk merchant.   
     
     
         4 . A computer-based method in accordance with  claim 1 , wherein transmitting an account request message requesting an opening of a merchant account for the candidate merchant further comprises:
 pre-determining merchant data elements required by the acquiring bank prior to agreeing in real-time to underwrite payment transactions submitted through the merchant manager module.   
     
     
         5 . A computer-based method in accordance with  claim 1 , wherein receiving, in real-time, merchant account data further comprises:
 transmitting the account request message and then receiving the merchant account data associated with the candidate merchant from the acquiring bank in real-time, wherein real-time means less than 30 seconds.   
     
     
         6 . A computer-based method in accordance with  claim 1  further comprising:
 requesting by the merchant manager module provisioning of credentials for the registered merchant with the payment processor after the merchant account data is received; 
 receiving the registered merchant credentials from the payment processor; and 
 storing the registered merchant credentials within the memory device; 
 notifying the registered merchant of account activation, wherein the registered merchant is then approved to submit payment transactions initiated by consumers using payment cards to the merchant manager module. 
 
     
     
         7 . A computer-based method in accordance with  claim 1 , wherein managing, at the merchant manager module, a first payment transaction further comprises:
 causing to be displayed on a merchant computing device a dashboard including a plurality of merchant manager modules including a payment application, a customers application, an inventory application, a coupons and offers application, an analytics application and a fraud management application, wherein the merchant computing device is associated with the registered merchant.   
     
     
         8 . A computer-based method in accordance with  claim 7  further comprising:
 receiving by the merchant manager module from the merchant computing device a selection of an application from the merchant manager module; 
 receiving from the merchant computing device input data related to the selected application; and 
 processing by the merchant manager module the input data within the selected application. 
 
     
     
         9 . A computer system for managing payment transactions for a merchant, wherein each transaction is initiated by a consumer using a payment card, said system comprising:
 a memory device for storing data; and   a processor in communication with the memory device, said processor programmed to:
 receive a registration request from a candidate merchant for enrollment within a manager module, the registration request including registration data associated with the candidate merchant, the manager module in communication with the processor; 
 cause the merchant manager module to execute a primary approval process using at least some of the registration data; 
 transmit an account request message requesting an opening of a merchant account for the candidate merchant with an acquiring bank upon approval by the primary approval process, wherein the account request message includes the registration data; 
 receive, in real-time, merchant account data associated with the candidate merchant from the acquiring bank upon approval by a secondary approval process, wherein the acquiring bank performs the secondary approval process using at least some of the registration data, the merchant account data representing an agreement by the acquiring bank to underwrite payment transactions submitted by the candidate merchant to the merchant manager module, the candidate merchant becoming a registered merchant upon secondary approval; and 
 cause the merchant manager module to manage a first payment transaction submitted by the registered merchant by transmitting transaction data associated with the first payment transaction and the merchant account data to a payment processor for processing. 
   
     
     
         10 . A computer system in accordance with  claim 9 , wherein said processor is programmed to receive a registration request including registration data associated with the candidate merchant, the registration data including at least one of a legal name, a statement name, a URL (Uniform Resource Locator), a description, a customer service phone number, a business address, a business city, a business state, a business zip code, a business state of filing, a business start date, a business type, a tax id/EIN, an owner first name, an owner last name, an owner address, an owner city, an owner state, an owner zip code, a social security number, a date of birth, a phone number, a mobile phone number, a bank name, a routing number, an account number, an average payment amount, an average number of payments monthly, a maximum payment amount, whether the merchant ships goods (Y/N), and a typical number of days to delivery. 
     
     
         11 . A computer system in accordance with  claim 9 , wherein the processor is programmed to:
 cause the memory device to store a high risk merchant list therewithin;   compare the registration data of the candidate merchant to the high risk merchant list; and   approve the candidate merchant under the primary approval process if the comparison step generates a no match for the candidate merchant, wherein a no match indicates a low risk that the candidate merchant is a high risk merchant.   
     
     
         12 . A computer system in accordance with  claim 9 , wherein the registration data comprises pre-determined merchant data elements required by the acquiring bank prior to agreeing in real-time to underwrite payment transactions submitted through the merchant manager module. 
     
     
         13 . A computer system in accordance with  claim 9 , wherein the processor is programmed to transmit the account request message and then receiving the merchant account data associated with the candidate merchant from the acquiring bank in real-time, wherein real-time means less than 30 seconds. 
     
     
         14 . A computer system in accordance with  claim 9 , wherein the processor is programmed to:
 cause the merchant manager module to request provisioning of credentials for the registered merchant with the payment processor after the merchant account data is received;   receive the registered merchant credentials from the payment processor;   cause the memory device to store the registered merchant credentials therewithin; and   notify the registered merchant of account activation, wherein the registered merchant is then approved to submit payment transactions initiated by consumers using payment cards to the merchant manager module.   
     
     
         15 . A computer system in accordance with  claim 9 , wherein the processor is programmed to cause to be displayed on a merchant computing device a dashboard including a plurality of merchant manager modules including a payment application, a customers application, an inventory application, a coupons and offers application, an analytics application and a fraud management application, wherein the merchant computing device is associated with the registered merchant. 
     
     
         16 . A computer system in accordance with  claim 15  wherein the processor is programmed to cause the merchant manager module to:
 receive from the merchant computing device a selection of an application from the merchant manager module; 
 receive from the merchant computing device input data related to the selected application; and 
 cause the merchant manager module to process the input data within the selected application. 
 
     
     
         17 . One or more computer-readable storage media having computer-executable instructions embodied thereon for managing payment transactions for a merchant, wherein each transaction is initiated by a consumer using a payment card, wherein when executed by at least one processor, said computer-executable instructions cause the processor to:
 receive a registration request from a candidate merchant for enrollment within a manager module, the registration request including registration data associated with the candidate merchant, the manager module in communication with the processor;   cause the merchant manager module to execute a primary approval process using at least some of the registration data;   transmit an account request message requesting an opening of a merchant account for the candidate merchant with an acquiring bank upon approval by the primary approval process, wherein the account request message includes the registration data;   receive, in real-time, merchant account data associated with the candidate merchant from the acquiring bank upon approval by a secondary approval process, wherein the acquiring bank performs the secondary approval process using at least some of the registration data, the merchant account data representing an agreement by the acquiring bank to underwrite payment transactions submitted by the candidate merchant to the merchant manager module, the candidate merchant becoming a registered merchant upon secondary approval; and   cause the merchant manager module to manage a first payment transaction submitted by the registered merchant by transmitting transaction data associated with the first payment transaction and the merchant account data to a payment processor for processing.   
     
     
         18 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to receive a registration request including registration data associated with the candidate merchant, the registration data including at least one of a legal name, a statement name, a URL (Uniform Resource Locator), a description, a customer service phone number, a business address, a business city, a business state, a business zip code, a business state of filing, a business start date, a business type, a tax id/EIN, an owner first name, an owner last name, an owner address, an owner city, an owner state, an owner zip code, a social security number, a date of birth, a phone number, a mobile phone number, a bank name, a routing number, an account number, an average payment amount, an average number of payments monthly, a maximum payment amount, whether the merchant ships goods (Y/N), and a typical number of days to delivery. 
     
     
         19 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to:
 cause the memory device to store a high risk merchant list therewithin;   compare the registration data of the candidate merchant to the high risk merchant list; and   approve the candidate merchant under the primary approval process if the comparison step generates a no match for the candidate merchant, wherein a no match indicates a low risk that the candidate merchant is a high risk merchant.   
     
     
         20 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to receive pre-determined merchant data elements for inclusion within the registration data, the merchant data elements required by the acquiring bank prior to agreeing in real-time to underwrite payment transactions submitted through the merchant manager module. 
     
     
         21 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to transmit the account request message and then receiving the merchant account data associated with the candidate merchant from the acquiring bank in real-time, wherein real-time means less than 30 seconds. 
     
     
         22 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to:
 cause the merchant manager module to request provisioning of credentials for the registered merchant with the payment processor after the merchant account data is received;   receive the registered merchant credentials from the payment processor;   cause the memory device to store the registered merchant credentials therewithin; and   notify the registered merchant of account activation, wherein the registered merchant is then approved to submit payment transactions initiated by consumers using payment cards to the merchant manager module.   
     
     
         23 . The computer-readable storage media in accordance with  claim 17 , wherein said computer-executable instructions cause said processor to cause to be displayed on a merchant computing device a dashboard including a plurality of merchant manager modules including a payment application, a customers application, an inventory application, a coupons and offers application, an analytics application and a fraud management application, wherein the merchant computing device is associated with the registered merchant. 
     
     
         24 . The computer-readable storage media in accordance with  claim 23  wherein said computer-executable instructions cause said processor to cause the merchant manager module to:
 receive from the merchant computing device a selection of an application from the merchant manager module; 
 receive from the merchant computing device input data related to the selected application; and 
 cause the merchant manager module to process the input data within the selected application.