Abstract: Embodiments provide methods and systems for preventing a fraudulent payment transaction. The method performed by issuer system associated with payment account of user includes generating unique data for payment transaction of the user upon approval of payment transaction authorization request signal. The method includes facilitating encryption of the unique data based on encryption key and sending payment transaction authorization response signal to payment server associated with payment network. The payment transaction authorization response signal includes at least the encrypted unique data. The method includes processing the payment transaction upon receiving a notification of a successful validation of the payment transaction authorization response signal from payment server. The validation of the payment transaction authorization response signal is performed by payment server.

Abstract: Embodiments provide methods and systems for preventing a fraudulent payment transaction. The method performed by issuer system associated with payment account of user includes generating unique data for payment transaction of the user upon approval of payment transaction authorization request signal. The method includes facilitating encryption of the unique data based on encryption key and sending payment transaction authorization response signal to payment server associated with payment network. The payment transaction authorization response signal includes at least the encrypted unique data. The method includes processing the payment transaction upon receiving a notification of a successful validation of the payment transaction authorization response signal from payment server. The validation of the payment transaction authorization response signal is performed by payment server.

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: 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 server and method for processing a card-not-present transaction whereby a purchaser selects to use one or more friends' card to obtain a reward is disclosed. The server comprises at least a computer processor to: (i) receive, from a merchant server, a payment request including a contact mechanism for the friend(s); (ii) send a selection request to the friend(s) using the contact mechanism; (iii) receive, from the friend(s) a selection response including card number(s) eligible for the reward; (iv) request the issuer server(s) for authentication and blocking the amount; (v) track a cumulative amount dynamically and repeat steps (iii) and (iv) until equal to or greater than the payment amount; (vi) generate a virtual card number for one time use based on the card number(s); and (vii) send a payment response to the merchant server including the virtual card number for the purchaser to complete the transaction.

Abstract: The disclosure relates to identity authentication in electronic payment transactions.

Abstract: The disclosure comprises systems, methods and computer program products for identity authentication in connection with payment account information submitted for the purpose of network based electronic payment transaction(s). The disclosure comprises (i) receiving from a merchant server, (a) a name associated with a purchaser, and (b) a payment card number, (ii) retrieving a data record comprising a payment card holder name associated with the received payment card number, (iii) comparing the payment card holder name extracted from the retrieved data record with the name associated with the purchaser that has been received at the merchant server, and (d) responsive to a match between the payment card holder name extracted from the retrieved data record with the name associated with the purchaser that has been received at the merchant server, generating a positive identity authentication decision and transmit said identity authentication decision to the merchant server.

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 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 entities based 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: Embodiments provide methods and systems for preventing a fraudulent payment transaction. The method performed by issuer system associated with payment account of user includes generating unique data for payment transaction of the user upon approval of payment transaction authorization request signal. The method includes facilitating encryption of the unique data based on encryption key and sending payment transaction authorization response signal to payment server associated with payment network. The payment transaction authorization response signal includes at least the encrypted unique data. The method includes processing the payment transaction upon receiving a notification of a successful validation of the payment transaction authorization response signal from payment server. The validation of the payment transaction authorization response signal is performed by payment server.

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 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 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: The disclosure relates to identity authentication in electronic payment transactions.

Abstract: The disclosure comprises systems, methods and computer program products for identity authentication in connection with payment account information submitted for the purpose of network based electronic payment transaction(s). The disclosure comprises (i) receiving from a merchant server, (a) a name associated with a purchaser, and (b) a payment card number, (ii) retrieving a data record comprising a payment card holder name associated with the received payment card number, (iii) comparing the payment card holder name extracted from the retrieved data record with the name associated with the purchaser that has been received at the merchant server, and (d) responsive to a match between the payment card holder name extracted from the retrieved data record with the name associated with the purchaser that has been received at the merchant server, generating a positive identity authentication decision and transmit said identity authentication decision to the merchant server.

Abstract: A server and method for processing a card-not-present transaction whereby a purchaser selects to use one or more friends' card to obtain a reward is disclosed. The server comprises at least a computer processor to: (i) receive, from a merchant server, a payment request including a contact mechanism for the friend(s); (ii) send a selection request to the friend(s) using the contact mechanism; (iii) receive, from the friend(s) a selection response including card number(s) eligible for the reward; (iv) request the issuer server(s) for authentication and blocking the amount; (v) track a cumulative amount dynamically and repeat steps (iii) and (iv) until equal to or greater than the payment amount; (vi) generate a virtual card number for one time use based on the card number(s); and (vii) send a payment response to the merchant server including the virtual card number for the purchaser to complete the transaction.

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: Embodiments provide methods, and server systems for facilitating payment transaction using a preferred digital wallet application. In an embodiment, the method includes receiving, by a server system, a unique reference number associated with a payment card linked with a plurality of digital wallet applications of a user on an e-commerce website for making a payment transaction. The method includes accessing a mapping database to extract the plurality of digital wallet applications using the unique reference number. The method includes selecting a preferred digital wallet application based on a type of the payment transaction and at least one predefined criteria being usage information of each digital wallet application. The method includes facilitating a display of the preferred digital wallet application on a user device of the user.

Abstract: A transaction authorization method includes generation of a unique identification code for registering a user as an on-behalf payee for an account based on a registration request raised by an account holder of the account. The user is authorized to perform on-behalf transactions from the account by using the unique identification code. The account holder is notified, when the user performs an on-behalf transaction from the account. The on-behalf transaction is authorized, when the account holder approves the on-behalf transaction and is declined, when the account holder rejects the on-behalf transaction.

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.