Abstract: A method for processing a cross-border payment includes receiving inbound payment data from a first financial institution located in a first country. The inbound payment data is in a first message format. The method further includes generating a payment request based on the inbound payment data such that the payment request is in the second message format, and processing the generated payment request. Processing comprises approving or declining the payment request. If the payment request is approved, the method further includes generating outbound payment data such that the outbound payment data is in the first message format, and sending the outbound payment data to a second financial institution located in a second country. A system for processing a cross-border payment is also provided.

Abstract: A payment network server for processing a payment transaction at a point-of-sale terminal is described. The server comprises a transaction module, a query module and a transfer module. The transaction module is configured to: (i) receive a payment transaction request comprising at least transaction details and a fund transfer indicator, the transaction details comprise at least a customer identifier, a merchant identifier, and a payment amount, the fund transfer indicator indicating that the payment transaction is to be processed by fund transfer; and (ii) transmit a payment transaction response indicating if the payment transaction is approved or refused to proceed.

Abstract: A method for monitoring transactions and providing recommendations, the method including, in one or more electronic processing devices, receiving transaction data indicative of transaction details regarding a transaction between a user and a merchant, the transaction details being indicative of at least one of a merchant identity of the merchant, a merchant type associated with the merchant, an item associated with the transaction, and an item type associated with the transaction, retrieving at least one recommendation from relationship data using the transaction details, the relationship data being indicative of a plurality of recommendations, each recommendation being related to at least one of at least one merchant identity, at least one merchant type, at least one item type, and at least one item, and causing a recommendation indication indicative of at least one recommendation to be displayed to the user, thereby allowing the user to selectively perform at least one transaction.

Abstract: A method and system are proposed for financial purchase transactions between a merchant and an employee in possession of a contactless credential device such as a proximity card ordinarily used for access to commercial facilities as in the case of electronically controlled doors and the like. The merchant is provided with a contactless reader device adapted to discern credential device codes.

Abstract: Disclosed is a method, server processing system, system and computer readable medium for managing inventory. In one aspect, the method includes, in a server processing system, steps of: receiving, from a plurality of merchant devices including a first and second merchant device associated with a first and second merchant respectively, inventory data and a plurality of merchant locations which are stored in a data store; receiving, from the first merchant device, data indicative of a requested good that is not stocked by the first merchant; determining that the requested good is stocked by a second merchant using the inventory data of one or more merchants that are located within a proximity of the location of the first merchant; and transferring, to the second merchant device, a request to facilitate provision of the requested good to a customer of the first merchant.

Abstract: A system and method for automated switching of payment devices in a financial transaction are provided. The method comprises, in response to a payment status message from an issuer of a primary payment device which is indicative of a partial approval or a decline of a payment transaction request for the primary payment device, retrieving, from a database, identification data for a secondary payment device which is associated with the primary payment device; generating a secondary payment instruction comprising the identification data of the secondary payment device and an amount or a remaining amount of the payment transaction; and transmitting the payment instruction to an issuer of the secondary payment device.

Abstract: A system and method for authenticating a location of a payment acceptance device is provided. The method comprises receiving a transaction request comprising merchant data, the merchant data identifying the payment acceptance device and location information identifying a location at which the transaction request is initiated; retrieving, from a database, a payment acceptance device identifier based on the merchant data, the payment acceptance device identifier identifying a location at which the payment acceptance device is registered; authenticating the location of the payment acceptance device by comparing the location information and the location identified by the payment acceptance device identifier.

Abstract: A method for managing funds is provided. The method includes receiving a payment vehicle identifier by which a payment vehicle can be identified, the payment vehicle includes an available account balance, transaction details of a purchase transaction, and the transaction details, sending a first amount that is less than or equal to the transaction value if the transaction value does not exceed the available account balance, and sending a second amount that is less than or equal to the first amount. The transaction details include a transaction value, a merchant identifier of a merchant with whom the purchase transaction is being made, and a merchant wallet identifier by which a merchant virtual wallet can be identified, the merchant virtual wallet being associated with the merchant identifier.

Abstract: A method and system are presented for scheduling payments. The method comprises the operations of: a) storing, in a memory, instructions for an action to be taken when at least one specified criterion is fulfilled, the specified criterion relating to anticipated funds to be received and/or anticipated funds authorized for receipt; b) receiving, by a processor, details of funds received and/or funds authorized for receipt; c) checking, by the processor, whether the specified criterion is fulfilled; d) repeating steps b) and c) until the specified criterion is fulfilled; and e) upon fulfillment of the specified criterion, actioning the instructions stored in the memory.

Abstract: There is provided a data processor implemented process for performing NFC enabled point-of-sale (POS) transactions on a computing device. Furthermore, there is also provided an NFC enabled point-of-sale (POS) transaction system.

Abstract: A method for managing funds is provided. The method includes receiving a payment vehicle identifier by which a payment vehicle can be identified, the payment vehicle includes an available account balance, transaction details of a purchase transaction, and the transaction details, sending a first amount that is less than or equal to the transaction value if the transaction value does not exceed the available account balance, and sending a second amount that is less than or equal to the first amount. The transaction details include a transaction value, a merchant identifier of a merchant with whom the purchase transaction is being made, and a merchant wallet identifier by which a merchant virtual wallet can be identified, the merchant virtual wallet being associated with the merchant identifier.

Abstract: A method and system are provided for authorizing an electronic transaction between two entities. The method includes receiving, at a verification module, coincidentally captured facial image data relating to both of the two entities and authenticating each of the two entitiesbased on a comparison between the coincidentally captured facial image data and respective facial image templates relating to each of the two entities enrolled in a database. The method also includes retrieving, from the database, account data relating to each of the two entities based on the coincidentally captured facial image data, on determining that each of the two entities are positively authenticated, and generating an authorization message for authorizing the electronic transaction, where the authorization message comprises the account data relating to each of the two entities retrieved from the database.

Abstract: A computer-implement method, at a server, for effecting a transaction is disclosed, the method comprising the steps of receiving, from a payee device, a payee payment threshold amount identifying a minimum amount that a payee is willing to accept for a predetermined number of goods for the transaction; receiving, from a payer device, a payer payment threshold amount identifying a maximum amount that a payer is willing to pay for the transaction; determining if the payer payment threshold amount is equal to or more than the payee payment threshold amount; and effecting the transaction if it is determined that the payer payment threshold amount is equal to or more than the payee payment threshold amount.

Abstract: A computerised method for performing a transaction is disclosed. The method comprises: generating, by a merchant billing machine at a merchant location, transaction data comprising a transaction cost and identifying, via the merchant billing machine, a customer digital wallet and/or number for a customer mobile device. The merchant billing machine then communicates the transaction data and identification of a merchant digital wallet to the customer digital wallet and/or customer mobile device. A digital wallet server receives, upon authorisation of the transaction via the customer mobile device, the transaction data and merchant digital wallet identification along with details of a customer payment vehicle and transfers the transaction cost from the customer payment vehicle to the merchant digital wallet.

Abstract: A peer-to-peer (P2P) payment system is proposed in which a server computationally analyses historical data relating to P2P traffic to predict periods of high usage, and, based on the predicted high usage periods, computationally interacts with payment senders, to schedule payments to avoid the predicted high usage periods. The effect of this is to smooth the traffic over time, thereby reducing the number of transfers which are required at peak traffic periods. In this way, the resource requirements of operating the P2P process can be reduced, since the peak level of P2P traffic, which determines the computational resources which have to be devoted to the P2P traffic, can be reduced.

Abstract: Described is a payment vehicle for use in initiating a transaction. The payment vehicle includes a body and an image applied to the body. The image includes encrypted data that is readable by an electronic reader to ascertain account details of a payment vehicle user, thereby to initiate the transaction. The image is also visually comparable to the user, or to information produced by the user, to confirm the user's identity.

Abstract: A computer-implemented method is proposed for OTP authorisation for ATM or POS transactions. The method comprises: a) storing in a database a reference code for an OTP application installed on a user device and details for one or more of the user's payment cards in association with the reference code; b) receiving, along with payment card details, an OTP generated by the application and entered by the user into an ATM or POS terminal; c) validating the OTP; and d) on successful validation, authorising a payment transaction from the payment card.

Abstract: A method and system are proposed for financial purchase transactions between a merchant and an employee in possession of a contactless credential device such as a proximity card ordinarily used for access to commercial facilities as in the case of electronically controlled doors and the like. The merchant is provided with a contactless reader device adapted to discern credential device codes.