US 12,406,262 B2
Systems and methods for optimizing electronic refund transactions for detected fraudulent transactions
Dmitriy Burmistrov, Woburn, MA (US); Dennis A. Kettler, Mason, OH (US); and Tao Hong, Acton, MA (US)
Assigned to Worldpay, LLC, Symmes Township, OH (US)
Filed by Worldpay, LLC, Symmes Township, OH (US)
Filed on Jul. 7, 2023, as Appl. No. 18/348,538.
Application 18/348,538 is a continuation of application No. 16/822,254, filed on Mar. 18, 2020, granted, now 11,790,367.
Prior Publication US 2023/0351399 A1, Nov. 2, 2023
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 20/40 (2012.01); H04L 9/40 (2022.01)
CPC G06Q 20/4016 (2013.01) [G06Q 20/407 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A method for optimizing electronic refund transactions for suspect or detected fraudulent transactions, the method comprising:
receiving, by a computer processor, a chargeback analysis request for a potential chargeback transaction from a merchant or a payment processor;
extracting, by the computer processor, identifying information of transactions associated with the potential chargeback transaction from the chargeback analysis request;
retrieving, by the computer processor, historical transaction data associated with the identifying information of transactions from at least one of a plurality of issuer chargeback databases;
generating, by the computer processor, a chargeback analysis profile request, wherein the chargeback analysis profile request includes a unique profile identifier and aggregated historical transaction data from the plurality of issuer chargeback databases;
tokenizing, by the computer processor, the identifying information and the unique profile identifier of transactions associated with the potential chargeback transaction within the chargeback analysis profile request;
sending, by the computer processor, the chargeback analysis profile request to a cloud platform for analysis;
receiving, by the computer processor, a chargeback analysis profile from the cloud platform;
detokenizing, by the computer processor, the identifying information and the unique profile identifier of transactions associated with the potential chargeback transaction within the chargeback analysis profile;
determining, by the computer processor based on the chargeback analysis profile, a first probability that the potential chargeback transaction will result in a chargeback;
determining, by the computer processor based on the chargeback analysis profile, a second probability that the potential chargeback transaction will result in a chargeback following a refund of the potential chargeback transaction; and
generating, by the computer processor, an electronic refund transaction based on the first probability and the second probability.