US 11,810,085 B2
Processing financial transactions
Koni Uttam Nayak, Mumbai (IN); Ashish Kulpati, Haryana (IN); Pankaj Rajurkar, Indore (IN); and Glenn Leon Powell, Fremont, CA (US)
Assigned to Visa International Service Association, San Francisco, CA (US)
Filed by Visa International Service Association, San Francisco, CA (US)
Filed on Jun. 9, 2021, as Appl. No. 17/343,675.
Application 17/343,675 is a continuation of application No. 15/509,182, granted, now 11,062,281, previously published as PCT/IB2015/057629, filed on Oct. 6, 2015.
Claims priority of application No. 5083/CHE/2014 (IN), filed on Oct. 9, 2014.
Prior Publication US 2021/0357885 A1, Nov. 18, 2021
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 20/10 (2012.01); G06F 16/22 (2019.01); G06F 16/23 (2019.01); G06F 16/2455 (2019.01); G06Q 40/02 (2023.01); H04W 4/12 (2009.01); G06Q 20/22 (2012.01); G06Q 20/32 (2012.01)
CPC G06Q 20/102 (2013.01) [G06F 16/22 (2019.01); G06F 16/2379 (2019.01); G06F 16/2455 (2019.01); G06Q 20/223 (2013.01); G06Q 20/3224 (2013.01); G06Q 40/02 (2013.01); H04W 4/12 (2013.01)] 14 Claims
OG exemplary drawing
 
1. A method for processing a financial transaction conducted at an issuing server computer associated with a first entity, the issuing server computer controlling an account of the first entity, the method comprising:
receiving, by the issuing server computer, a payment message from a first entity device comprising a contactless element, the first entity device associated with the first entity;
responsive to receiving the payment message from the first entity device, electronically transmitting, by the issuing server computer, a transaction request message to an acquiring server computer associated with a second entity, the transaction request message being in respect of a push transaction in which funds from the first entity are transferred to the second entity, the acquiring server computer controlling an account of the second entity, wherein the transaction request message includes a first set of data elements including: a first entity identifier, a second entity identifier, and an amount associated with the funds to be transferred;
responsive to transmitting the transaction request message, creating, by the issuing server computer, a transaction record in a database and storing at least the first set of data elements in the database in association with the transaction record;
in response to transmitting the transaction request message, receiving, by the issuing server computer, a transaction response message including a second set of data elements from the acquiring server computer, and wherein the account of the second entity is credited for the amount;
querying, by the issuing server computer, the database using the second entity identifier to identify the transaction record associated with the first set of data elements;
associating, by the issuing server computer, the second set of data elements with the first set of data elements;
processing, by the issuing server computer, the financial transaction using information contained in the first set of data elements and the second set of data elements; and
completing, by the issuing server computer, the financial transaction, wherein completing the financial transaction comprises performing a clearing and settlement process between the issuing server computer and the acquiring server computer to transfer funds associated with the amount from the issuing server computer to the acquiring server computer.