Abstract: A system and method are provided that automatically track the use of an instrument used in a financial transaction to determine if any rewards or discounts should be applied. The system and method of the present invention apply the reward or discounts in real-time as part of the transaction authorization process.

Abstract: Disclosed is a mobile platform that enables unique tap-and-connect transaction processing and settlement, which allows consumers, merchants, financial institutions and other third parties to strengthen their relationships through a local transaction network that offers more efficient transaction processing and settlement for reduced per-transaction cost and risk management costs and increased security.

Abstract: Described herein are networks and related devices and methods for facilitating the electronic transfer of funds and electronic purchases between consumers, merchants, and other parties. Also facilitated by the principles described herein is the electronic transfer of funds or payments between individuals. The disclosed principles provide for the funds of a user's account to never leave his original financial account until the financial transaction takes place. Thus, no special accounts within the payment system are required to be opened, maintained, or funded by a user. Instead, funds are simply transferred to or from a user's associated financial account by the financial institution maintaining that account and in accordance with instructions from the network. Thus, the present disclosure provides for fund transfers and purchases between parties in a secure, efficient, and the user-friendly manner.