Systems, devices, and methods for managing a payment transaction

Abstract

Disclosed herein is a method for managing a payment transaction wherein a processor receives a transaction information input corresponding to a particular card type. The processor then accesses a BIN table and a rate table to calculate a fee based on the transaction information input and compares the calculated fee with alternate fees corresponding to alternate card types. A card type corresponding to a determined lowest fee between the calculated fee and the alternate fees is then outputted. The processor then completes the payment transaction by accessing transaction information corresponding to a user selected card type.

1 - 14 . (canceled) 
     
     
         15 . A method for managing a payment transaction, the method comprising:
 receiving, at a processor, a transaction information input corresponding to a particular card;   in response to receiving the transaction information input, accessing, by the processor, a bank identification number (BIN) table and a rate table stored in a storage device;   calculating, by the processor, a transaction cost based on a stored algorithm using the transaction information input applied from the BIN and rate tables;   suggesting, by the processor, one or more alternate card types based on the transaction costs of each of the alternate card types using the stored algorithm;   outputting one or more incentives based on the transaction cost of each of the one or more alternate card types.   
     
     
         16 . The method of  claim 15 , further comprising:
 completing the payment transaction based on the transaction information input.   
     
     
         17 . The method of  claim 15 , wherein the transaction cost includes interchange fees, network fees, and processor fees. 
     
     
         18 . The method of  claim 15 , further comprising:
 in response to user input of an alternate card associated with the one or more alternate card types, completing the payment transaction by accessing transaction.   
     
     
         19 . (canceled) 
     
     
         20 . The method of  claim 15 , wherein the transaction information input is selected from a group consisting of: payment information, a payment amount, a transaction type, merchant information, a merchant type, a merchant category, card information, a card type, a card number, a BIN, a card expiration date, a cardholder address, a PIN, a security code, asset size of the card issuer, card networks of which the card issuer is a member, merchant category code (MCC), a cardholder name and a combination thereof. 
     
     
         21 . The method of  claim 15 , wherein the card is selected from a group consisting of: a credit card, a debit card, a prepaid card, a charge card, a reward credit card, a corporate credit card, a corporate debit card, a rewards debit card, a retailer credit card, a gift card, a stored value card, and a combination thereof. 
     
     
         22 . The method of  claim 15 , wherein the incentive is selected from a group consisting of: currency, merchant incentives, goods, services, coupons, charities gifts, gift, points, third party incentives, or a combination thereof. 
     
     
         23 . The method of  claim 15 , further comprising:
 accessing, by the processor, a blocking list, wherein the blocking list is stored on the storage device and includes a plurality of transaction information input;   determining, by the processor, that the particular card is on the blocking list; and   outputting, by the processor, a notice to a user indicating that the particular card cannot be processed.   
     
     
         24 . A system for managing a payment transaction, the system comprising:
 one or more network interfaces to communicate with a one or more communication networks and configured to receive a transaction information input corresponding to a particular card;   one or more processors coupled to the network interfaces and adapted to execute one or more processors; and   a memory configured to store a process executable by the processor, the process when executed operable to:
 receive a transaction information input corresponding to a particular card; 
 in response to receiving the transaction information input, access a bank identification number (BIN) table and a rate table stored in a storage device; 
 calculate a transaction cost based on a stored algorithm using the transaction information input applied from the BIN and rate tables; 
 suggest one or more alternate card types based on the transaction costs of each of the alternate card types using the stored algorithm; 
 output one or more incentives based on the transaction cost of each of the one or more alternate card types. 
   
     
     
         25 . The system of  claim 24 , wherein the process when executed is further operable to:
 complete the payment transaction based on the transaction information input.   
     
     
         26 . The method of  claim 24 , wherein the incentive is determined using an implemented algorithm using at least the transaction processing cost. 
     
     
         27 . The method of  claim 24 , wherein the transaction cost includes interchange fees, network fees, and processor fees. 
     
     
         28 . The method of  claim 24 , wherein the process when executed is further operable to:
 compare a calculated cost and alternate costs corresponding to alternate card types using the BIN and rate tables;   determine suggested card types having a lower calculated cost than the calculated cost;   output the suggested card types and the corresponding incentives; and   complete the payment transaction by using the transaction information input of the user selected card type.   
     
     
         29 . The system of  claim 24 , wherein the process when executed is further operable to:
 in response to user input of an alternate card associated with the one or more alternate card types, completing the payment transaction.   
     
     
         30 . The system of  claim 24 , wherein the transaction information input is selected from a group consisting of: payment information, a payment amount, a transaction type, merchant information, a merchant type, a merchant category, card information, a card type, a card number, a BIN, a card expiration date, a cardholder address, a PIN, a security code, asset size of the card issuer, card networks of which the card issuer is a member, merchant category code (MCC), a cardholder name and a combination thereof. 
     
     
         31 . The system of  claim 23 , wherein the card is selected from a group consisting of: a credit card, a debit card, a prepaid card, a charge card, a reward credit card, a corporate credit card, a corporate debit card, a rewards debit card, a retailer credit card, a gift card, a stored value card, and a combination thereof. 
     
     
         32 . The system of  claim 23 , wherein the incentive is selected from a group consisting of:
 currency, merchant incentives, goods, services, coupons, charities gifts, gift, points, third party incentives, or a combination thereof.   
     
     
         33 . The system of  claim 23 , wherein the process when executed is further operable to:
 access a blocking list, wherein the blocking list is stored on the storage device and includes a plurality of transaction information input;   determine that the particular card is on the blocking list; and   output a notice to a user indicating that the particular card cannot be processed.   
     
     
         34 . A method for managing a payment transaction, the method comprising:
 receiving, at a processor, transaction information input corresponding to a particular card;   in response to receiving the transaction information input, accessing, by the processor, a bank identification number (BIN) table and a rate table stored in a storage device;   calculating, by the processor, a transaction cost based on a stored algorithm that utilizes at least the transaction information input, the BIN table and the rate table;   comparing, by the processor, the calculated transaction cost to transactions costs of an automated clearing house (ACH) transaction for the payment transaction;   in response to the ACH cost being lower than the transaction cost associated with the particular card, outputting an incentive to alternately use the payment as the ACH transaction.   
     
     
         35 . The method of  claim 34 , further comprising:
 completing the payment transaction based on the transaction information input or the ACH transaction.   
     
     
         36 . The method of  claim 34 , wherein the transaction information input is selected from a group consisting of: payment information, a payment amount, a transaction type, merchant information, a merchant type, a merchant category, card information, a card type, a card number, a BIN, a card expiration date, a cardholder address, a PIN, a security code, asset size of the card issuer, card networks of which the card issuer is a member, merchant category code (MCC), a cardholder name and a combination thereof. 
     
     
         37 . The method of  claim 34 , wherein the card is selected from a group consisting of: a credit card, a debit card, a prepaid card, a charge card, a reward credit card, a corporate credit card, a corporate debit card, a rewards debit card, a retailer credit card, a gift card, a stored value card, and a combination thereof. 
     
     
         38 . The method of  claim 34 , wherein the incentive is selected from a group consisting of: currency, merchant incentives, goods, services, coupons, charities gifts, gift, points, third party incentives, or a combination thereof. 
     
     
         39 . The method of  claim 15 , further comprising:
 receiving more than one transaction information input,   in response to the receiving more than one card type, determining incentives for each of the card types.   
     
     
         40 . The method of  claim 39 , further comprising:
 completing the payment transaction based on the transaction information input.   
     
     
         41 . The system of  claim 23 , further comprising:
 receiving more than one transaction information input,   in response to the receiving more than one card type, determining incentives for each of the card types.   
     
     
         42 . The system of  claim 41 , further comprising:
 completing the payment transaction based on the transaction information input.   
     
     
         43 . The method of  claim 15 , wherein the stored algorithm calculates the incentive for recurring the payment transaction. 
     
     
         44 . The method of  claim 34 , wherein the stored algorithm calculates the incentive for recurring the payment transaction. 
     
     
         45 . The system of  claim 24 , wherein the stored algorithm calculates the incentive for recurring the payment transaction.