Systems and Methods for Facilitating Cash-Based Transactions
Disclosed herein are systems and method for facilitating transactions between a merchant-partner and an end-user (e.g., a customer of the merchant-partner). More specifically, presented herein are pricing systems and methods for establishing and staging transactions between a point-of-sale terminal, one or more merchant-partners, and a service provider.
1 . A computer-implemented method for facilitating a transaction between an end-user and a merchant-partner, wherein a point-of-sale (POS) terminal receives presentment of a payment from an end-user for the merchant-partner, the method comprising:
a service provider processing system
(a) providing the merchant-partner with an interface such that the merchant-partner can define a settlement funding model and a pricing model;
(b) staging a transaction between the merchant-partner and the end-user, wherein the staging of the transaction includes calculating a transaction price based on the pricing model;
(c) receiving presentment data from the POS terminal indicating that the end-user has presented, to the POS terminal, a payment for the merchant-partner;
(d) using the presentment data to confirm that the payment is in accordance with the staged transaction between the end-user and the merchant-partner; and
(e) generating an outbound cash-flow to the merchant-partner to settle the transaction based on the settlement funding model.
2 . The computer-implemented method of claim 1 , wherein the settlement funding model is selected from the group consisting of: a proactive funding model and a reactive funding model.
3 . The computer-implemented method of claim 2 , wherein if the merchant-partner selects a proactive funding model, the method further comprises:
after step (e), the service provider processing system
(f) creating a funding record identifying a funding amount expected to be received from the POS terminal; and
(g) confirming that funds received from the POS terminal match the funding amount expected from step (f).
4 . The computer-implemented method of claim 2 , wherein if the merchant-partner selects a proactive funding model, the method further comprises:
in step (a), the service provider processing system
providing an interface such that the merchant-partner can define a settlement schedule;
in step (b), the service provider processing system
including the settlement schedule as a data field in the staged transaction; and
the service provider processing system performing step (e) on the settlement schedule.
5 . The computer-implemented method of claim 2 , wherein if the merchant-partner selects a reactive funding model, the method further comprises:
after step (d), but prior to step (e), the service provider processing system
(1) creating a funding record identifying a funding amount expected to be received from the POS terminal; and
(2) confirming that funds received from the POS terminal match the funding amount expected from step (1).
6 . The computer-implemented method of claim 1 , wherein the pricing model is selected from the group consisting of: a convenience fee pricing model, a variable commission pricing model, a fixed commission pricing model, a tiered convenience fee pricing model, a tiered variable commission pricing model, a tiered fixed commission pricing model, and any combination thereof.
7 . The computer-implemented method of claim 1 , further comprising:
after step (d), but prior to step (e), the service provider processing system authorizing the POS terminal to accept the payment from the end-user.
8 . A computer-readable storage medium, comprising:
instructions executable by at least one processing device that, when executed, cause the processing device to
(a) provide a merchant-partner with an interface such that the merchant-partner can set a settlement funding model and a pricing model;
(b) stage a transaction between the merchant-partner and an end-user, wherein the staging of the transaction includes calculating a transaction price based on the pricing model;
(c) receive presentment data from a POS terminal indicating that the end-user has presented, to the POS terminal, a payment for the merchant-partner;
(d) use the presentment data to confirm that the payment is in accordance with the staged transaction between the end-user and the merchant-partner; and
(e) generate an outbound cash-flow to the merchant-partner to settle the transaction based on the settlement funding model.
9 . The computer-readable storage medium of claim 8 , wherein the settlement funding model is selected from the group consisting of: a proactive funding model and a reactive funding model.
10 . The computer-readable storage medium of claim 8 , further comprising:
instructions executable by at least one processing device that, when executed, cause the processing device to
provide an interface such that the merchant-partner can set a settlement schedule; and
generate the outbound cash-flow in accordance with the settlement schedule.
11 . The computer-readable storage medium of claim 8 , further comprising:
instructions executable by at least one processing device that, when executed, cause the processing device to
(f) create a funding record identifying a funding amount expected to be received from the POS terminal; and
(g) confirm that funds received from the POS terminal match the funding amount expected.
12 . The computer-readable storage medium of claim 8 , wherein the pricing model is selected from the group consisting of: a convenience fee pricing model, a variable commission pricing model, a fixed commission pricing model, a tiered convenience fee pricing model, a tiered variable commission pricing model, a tiered fixed commission pricing model, and any combination thereof.
13 . The computer-readable storage medium of claim 8 , further comprising:
instructions executable by at least one processing device that, when executed, cause the processing device to authorize the POS terminal to accept the payment from the end-user.
14 . A computer-implemented system for facilitating a transaction between an end-user and a merchant-partner, wherein a point-of-sale (POS) terminal receives presentment of a payment from an end-user for the merchant-partner, the system comprising:
(a) means for providing the merchant-partner with an interface such that the merchant-partner can set a settlement funding model and a pricing model;
(b) means for staging a transaction between the merchant-partner and the end-user, wherein the staging of the transaction includes calculating a transaction price based on the pricing model;
(c) means for receiving presentment data from the POS terminal indicating that the end-user has presented, to the POS terminal, a payment for the merchant-partner;
(d) means for using the presentment data to confirm that the payment is in accordance with the staged transaction between the end-user and the merchant-partner; and
(e) means for generating an outbound cash-flow to the merchant-partner to settle the transaction based on the settlement funding model.
15 . The system of claim 14 , wherein the settlement funding model is selected from the group consisting of: a proactive funding model and a reactive funding model.
16 . The system of claim 15 , wherein if the merchant-partner selects a proactive funding model, the system further comprises:
means for providing an interface such that the merchant-partner can set a settlement schedule;
means for including the settlement schedule as a data field in the staged transaction; and
means for generating the outbound cash-flow in accordance with the settlement schedule.
17 . The system of claim 14 , further comprising:
(f) means for creating a funding record identifying a funding amount expected to be received from the POS terminal; and
(g) means for confirming that funds received from the POS terminal match the funding amount expected.
18 . The system of claim 14 , wherein the pricing model is selected from the group consisting of: a convenience fee pricing model, a variable commission pricing model, a fixed commission pricing model, a tiered convenience fee pricing model, a tiered variable commission pricing model, a tiered fixed commission pricing model, and any combination thereof.
19 . The system of claim 14 , further comprising:
means for authorizing the POS terminal to accept the payment from the end-user.
20 . The system of claim 14 , further comprising:
means for tokenizing the transaction.