US 11,704,633 B2
Systems, methods and apparatus for variable settlement accounts
Thomas E. Rafferty, Cincinnati, OH (US); and Bryan T. Bailey, Florence, KY (US)
Assigned to Worldpay, LLC, Symmes Township, OH (US)
Filed by Worldpay, LLC, Symmes Township, OH (US)
Filed on Nov. 24, 2020, as Appl. No. 17/102,941.
Application 17/102,941 is a continuation of application No. 15/944,194, filed on Apr. 3, 2018, granted, now 10,915,871.
Application 15/944,194 is a continuation of application No. 14/189,060, filed on Feb. 25, 2014, granted, now 9,965,749, issued on May 8, 2018.
Application 14/189,060 is a continuation of application No. 13/653,443, filed on Oct. 17, 2012, granted, now 8,700,525, issued on Apr. 15, 2014.
Prior Publication US 2021/0081910 A1, Mar. 18, 2021
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 20/02 (2012.01); G06Q 20/10 (2012.01); G06Q 20/22 (2012.01)
CPC G06Q 20/023 (2013.01) [G06Q 20/10 (2013.01); G06Q 20/227 (2013.01)] 20 Claims
OG exemplary drawing
 
13. A computer-implemented system, comprising:
an application server of an acquirer processor system, the application server configured to:
generate, by a processor of the application server, a merchant dashboard graphical user interface (GUI) on a display of a computing device of a merchant system; and
receive, via the merchant dashboard GUI, account information of one or more merchant accounts from the computing device of the merchant, wherein the account information includes settlement rules for the one or more merchant accounts;
an electronic rules database of the acquirer processor system connected to the processor of the application server, the electronic rules database configured to store the received account information of the one or more merchant accounts; and
a settlement engine of the acquirer processor system connected to the electronic rules database, the settlement engine configured to:
receive a payment authorization request for a transaction from a point of sale (POS) device of the merchant system;
receive a first electronic transfer of funds into an acquirer processor pooled account on behalf of the merchant system;
electronically transfer a second electronic transfer of funds from the acquirer processor pooled account into one of a plurality of merchant financial accounts, based at least on one or more settlement rules from the electronic rules database; and
retain, in the acquirer processor pooled account, at least a portion of the second electronic transfer of funds as a result of determining that the second electronic funds transfer results in an error in funding to the one or more merchant accounts.