Abstract: According to some embodiments, a transaction device for performing a transaction between a customer and a merchant comprises an account selection engine and a communication link. The account selection engine operable to receive information identifying at least one characteristic of a proposed transaction, identify a plurality of accounts associated with the customer, and select a first account from among the plurality of accounts based on the at least one characteristic. The communication link is operable to transmit identification of the first account to a point of sale interface of a transaction device, the point of sale interface operable to transmit a transaction request to a point of sale receiver associated with the merchant, the transaction request comprising an account number associated with the first account.

Abstract: According to some embodiments, a transaction processing system for evaluating transactions between a customer and a merchant comprises a transaction tracker, an account selection engine, and a performance module. The transaction tracker is operable to identify a transaction executed by a customer using a transaction device, the transaction device being operable to execute a transaction with a point of sale receiver associated with the merchant by providing an account number for a first account of the plurality of accounts. The account selection engine is operable to receive information identifying at least one characteristic of the transaction and select a recommended account based on the at least one characteristic. The performance module is operable to compare the first account with the recommended account to determine whether the customer would have received a financial benefit by executing the transaction using the recommended account instead of the first account.

Abstract: A system for authorizing a financial transaction includes a processor operable to execute an application on a wireless communications device that is communicatively coupled to a data stripe through a wired connection, receive a request to authorize a financial transaction involving a financial account associated with account data, access authorization criteria for determining whether to authorize the financial transaction, apply the authorization criteria to the financial transaction, generate an authorization code based on the application of the authorization criteria to the financial transaction, and communicate the authorization code.

Abstract: A system for authorizing a financial transaction includes a processor operable to execute an application on a wireless communications device, communicate wirelessly with a data stripe through a security enabled wireless communications protocol, receive a request to authorize a financial transaction involving a financial account associated with account data, access authorization criteria for determining whether to authorize the financial transaction, apply the authorization criteria to the financial transaction, generate an authorization code based on the application of the authorization criteria to the financial transaction, and communicate the authorization code.

Abstract: According to one embodiment, an apparatus may include a memory and a processor. The memory may be operable to store a cash account associated with a cash value and a user. The processor may be operable to receive a request from the user to pay an amount from the cash account. The processor may determine, in response to the request, whether the amount exceeds the cash value associated with the cash account. The processor may then decrease the cash value associated with the cash account by the amount if the amount does not exceed the cash value of the cash account. The processor may then send a notification that includes the decreased cash value associated with the cash account. The apparatus may be associated with an enterprise and the enterprise may exclusively process the request.

Abstract: To facilitate management of a universal payment account, it is determined whether a transaction occurs. Transaction information is received from a payment systems module if the transaction occurs, wherein the transaction information comprises a universal payment identifier associated with a universal payment account. A processor determines at least one payment rule based at least in part on the universal payment identifier, and the processor determines a financial account associated with the universal payment account based upon the at least one payment rule. The plurality of financial accounts are associated with the universal payment account and the determined financial account is used to process the transaction. The determined financial account is accessed to facilitate processing of the transaction.

Abstract: According to some embodiments, a transaction device for performing a transaction between a customer and a merchant comprises a transaction module and a point of sale interface. The transaction module is operable to identify a first account and obtain an obfuscated account number, the obfuscated account number being a temporary-use number associated with a permanent account number of the first account. The point of sale interface is operable to transmit a transaction request to a point of sale receiver associated with the merchant, the transaction request comprising the obfuscated account number.

Abstract: According to some embodiments, a transaction device for performing a transaction between a customer and a merchant comprises a transaction module and a point of sale interface. The transaction module is operable to receive, from the customer, a selection of a first account from among a plurality of accounts, wherein the selection of the first account is received from the customer when the customer is located at a facility associated with the merchant. The transaction module also obtains an account number associated with the first account, each account of the plurality of accounts being associated with an account number. The point of sale interface is operable to transmit a transaction request to a point of sale receiver associated with the merchant, the transaction request comprising the account number associated with the first account.

Abstract: According to some embodiments, a transaction device for performing a transaction between a customer and a merchant comprises an account selection engine and a communication link. The account selection engine operable to receive information identifying at least one characteristic of a proposed transaction, identify a plurality of accounts associated with the customer, and select a first account from among the plurality of accounts based on the at least one characteristic. The communication link is operable to transmit identification of the first account to a point of sale interface of a transaction device, the point of sale interface operable to transmit a transaction request to a point of sale receiver associated with the merchant, the transaction request comprising an account number associated with the first account.

Abstract: According to some embodiments, a transaction processing system for evaluating transactions between a customer and a merchant comprises a transaction tracker, an account selection engine, and a performance module. The transaction tracker is operable to identify a transaction executed by a customer using a transaction device, the transaction device being operable to execute a transaction with a point of sale receiver associated with the merchant by providing an account number for a first account of the plurality of accounts. The account selection engine is operable to receive information identifying at least one characteristic of the transaction and select a recommended account based on the at least one characteristic. The performance module is operable to compare the first account with the recommended account to determine whether the customer would have received a financial benefit by executing the transaction using the recommended account instead of the first account.

Abstract: To facilitate management of a universal payment account, it is determined whether a transaction occurs. Transaction information is received from a payment systems module if the transaction occurs, wherein the transaction information comprises a universal payment identifier associated with a universal payment account. A processor determines at least one payment rule based at least in part on the universal payment identifier, and the processor determines a financial account associated with the universal payment account based upon the at least one payment rule. The plurality of financial accounts are associated with the universal payment account and the determined financial account is used to process the transaction. The determined financial account is accessed to facilitate processing of the transaction.

Abstract: In an exemplary embodiment, a method includes receiving, from a mobile device, a payment transaction between a customer and a merchant. A customer account identifier and a merchant account identifier of the payment transaction may be determined. The method further includes communicating the customer account identifier to an enterprise to determine whether the customer account identifier corresponds to a customer account associated with the enterprise. If the customer account identifier and the merchant account identifier each correspond to a respective account associated with the enterprise, an indication that the enterprise initiates the processing of the payment transaction is received, and a notification that the payment transaction was processed is sent. If the customer account identifier and the merchant account identifier do not each correspond to a respective account associated with the enterprise, a notification that the payment transaction was not processed is sent.

Abstract: A system for authorizing a financial transaction includes a processor operable to execute an application on a wireless communications device, communicate wirelessly with a data stripe through a security enabled wireless communications protocol, receive a request to authorize a financial transaction involving a financial account associated with account data, access authorization criteria for determining whether to authorize the financial transaction, apply the authorization criteria to the financial transaction, generate an authorization code based on the application of the authorization criteria to the financial transaction, and communicate the authorization code.

Abstract: A system for authorizing a financial transaction includes a processor operable to execute an application on a wireless communications device that is communicatively coupled to a data stripe through a wired connection, receive a request to authorize a financial transaction involving a financial account associated with account data, access authorization criteria for determining whether to authorize the financial transaction, apply the authorization criteria to the financial transaction, generate an authorization code based on the application of the authorization criteria to the financial transaction, and communicate the authorization code.

Abstract: In an exemplary embodiment, a method includes receiving a payment transaction comprising a customer account identifier and a merchant account identifier. A processor may determine whether the customer account identifier and merchant account identifier correspond to respective accounts associated with the enterprise. If the account identifiers each correspond to a respective account associated with the enterprise, the processing of the payment transaction is initiated at the enterprise and a notification that the enterprise initiates the processing of the payment transaction is sent. If the account identifiers do not each correspond to a respective account associated with the enterprise, a notification that the payment transaction was not processed may be sent.

Abstract: A system and method for controlling a monetary account with one or more sub-accounts is described. A monetary account with an entity is established and an account user associated with the monetary account is identified. A sub-account with the entity is established, where the sub-account is associated with the monetary account and includes monetary funds transferred from the monetary account. At least one sub-account user associated with the sub-account is identified, where the at least one sub-account user is different from the account user. One or more controls, placed by the account user, are established on at least one of the sub-account and the at least one sub-account user. The at least one sub-account user is restricted from accessing monetary funds in the monetary account and the account user is permitted to access the sub-account.

Abstract: Systems and methods for authorizing an individual for purchasing a product and/or service are described. Monetary funds of a customer of a company may be received into a monetary account of the company at the financial entity. The received monetary funds of the customer may be maintained virtually in a non-monetary account with the non-monetary account value being proportional to the received monetary funds. A determination may be made as to whether an identified customer is authorized to make a purchase with an associated payment amount. The customer may be identified by a scanned iris. Upon determining the identified customer is authorized, the non-monetary account value may be decreased proportional to the associated payment amount.

Abstract: Systems and methods for biometrically identifying an individual for purchasing a product and/or service without a need for the individual to input authentication data into a system/device are described. Data representative of a scanned iris of a customer desiring to make a purchase may be made. The customer may be identified based upon the scanned iris. A determination may be made as to whether the identified customer desires to make a purchase with an associated payment amount from an entity. A determination may be made as to whether the identified customer has a default purchase at the entity. Information of an account of the customer to make a purchase may be received and funds in the account may be debited by the associated payment amount. An item corresponding with the purchase based upon the scanned iris may be determined.

Abstract: Embodiments of the invention provide a system and method for using aliases, such as mobile telephone numbers, email addresses, and social networking identifications, to identify a payment recipient's account involved in a payment transaction. Some embodiments of the method include: (1) receiving a payment request from a payment sender via a communication from a remote device, where the payment request includes an alias, and where the alias is not an account number; (2) using a processor to identify a payment recipient's financial account based at least partially on the alias; and (3) transferring funds from the payment sender's account to the payment recipient's account.

Abstract: Embodiments of the invention provide systems and methods for creating a financial account alias data repository to be used to identify payee accounts in payment transactions. For example, an embodiment of the method includes: (1) receiving a communication comprising an alias that is not a financial account number; and (2) using a processor to store the alias in memory and create a data repository in the memory that maps the alias to a particular financial account such that the alias can be used by others instead of a financial account number to transfer money to the particular financial account associated with the alias. The alias may include, for example, a telephone number, email address, or social networking identifier of the financial account owner.