Methods and systems for providing a payment account with adaptive interchange

Abstract

Pursuant to some embodiments, systems, methods, apparatus, and means for conducting payment transactions using mobile devices are provided in which a mobile device is presented at a point of sale for use in a payment transaction. A selection of a primary account is received from a user of the mobile device, and the mobile device automatically identifies a product type of the primary payment account. The mobile device selects and transmits a proxy payment account identifier having a product type equivalent to the product type of the primary payment account to the point of sale for use in the payment transaction. The point of sale causes a first payment authorization request message to be routed to an issuer of the proxy payment account.

What is claimed is: 
     
         1 . A processing system, comprising:
 a processor; and   a memory in communication with said processor and storing program instructions, the processor operative with the program instructions to:
 receive a first authorization request associated with a transaction at a merchant point of sale, the first authorization request including information identifying a transaction amount and a proxy account identifier, said first authorization request assessed a first interchange fee at a first interchange rate, said first interchange fee charged to the merchant's acquirer; 
 determine, based on said proxy account identifier, an associated proxy payment account, said associated proxy payment account associated with a funding payment account; 
 generate a second authorization request including information identifying said transaction amount and an identifier associated with said funding payment account; and 
 transmit said second authorization request to an issuer of said funding payment account for authorization of said transaction, said second authorization request assessed a second interchange fee substantially equivalent to said first interchange fee and at said first interchange rate, said second interchange fee charged to a proxy card issuer that generates said second authorization request. 
   
     
     
         2 . The processing system of  claim 1 , wherein said second authorization request further includes information identifying said first authorization request. 
     
     
         3 . The processing system of  claim 1 , wherein said second authorization request further includes information identifying the transaction as a transaction involving a proxy payment account. 
     
     
         4 . The processing system of  claim 1 , wherein said proxy account identifier is automatically selected for use in said transaction under control of a payment application of a mobile device at said point of sale. 
     
     
         5 . The processing system of  claim 1 , wherein said proxy account identifier is automatically selected for use in said transaction from among a plurality of proxy account identifiers associated with said payment application of said mobile device based on a user indication of a desired funding payment account.