SYSTEM AND METHOD FOR DYNAMICALLY CONFIGURING MERCHANT ACCOUNTS FOR MULTIPLE PAYMENT PROCESSORS

1 . A method for dynamically configuring a merchant account for commercial transactions, the method being implemented by one or more processors and comprising:

receiving a transaction record from a payment input device associated with a merchant, the transaction record including payment information and a first set of merchant account information;

analyzing the first set of merchant account information to determine whether the first set of merchant account information identifies a preferred merchant account; and

selectively forwarding the payment information to one of a plurality of payment processors based, at least in part, on the analysis.

2 . The method of claim 1 , wherein the first set of merchant account information is associated with a first payment processor.

3 . The method of claim 2 , wherein selectively forwarding the payment information to one of a plurality of payment processors includes forwarding the payment information to a second payment processor if the first set of merchant account information does not identify a preferred merchant account.

4 . The method of claim 3 , wherein the second payment processer is different than the first payment processor.

5 . The method of claim 4 , wherein selectively forwarding the payment information to a second payment processor includes forwarding the payment information to the second payment processor if the second payment processor charges lower processing fees than the first payment processor.

6 . The method of claim 1 , wherein selectively forwarding the payment information includes selectively writing a second set of merchant account information to the transaction record based on the analysis.

7 . The method of claim 6 , wherein the first set of merchant account information includes a first merchant identifier (MID) and a first terminal identifier (TID), and wherein the second set of merchant account information includes a second MID and a second TID.

8 . The method of claim 7 , wherein selectively writing a second set of merchant account information to the transaction record includes replacing the first MID and the first TID with the second MID and the second TID, respectively.

9 . The method of claim 1 , wherein the preferred merchant account corresponds to preexisting merchant account belonging to the merchant.

10 . A computer system comprising:

a memory that stores instructions;

one or more processors, which access instructions from the memory to perform operations including:

receive a transaction record from a payment input device associated with a merchant, the transaction record including payment information and a first set of merchant account information;

analyze the first set of merchant account information to determine whether the first set of merchant account information identifies a preferred merchant account; and

selectively forward the payment information to one of a plurality of payment processors based, at least in part, on the analysis.

11 . A computer-readable medium that stores instructions that, when executed by one or more processors, cause the one or more processors to perform operations comprising:

receiving a transaction record from a payment input device associated with a merchant, the transaction record including payment information and a first set of merchant account information;

analyzing the first set of merchant account information to determine whether the first set of merchant account information identifies a preferred merchant account; and

selectively forwarding the payment information to one of a plurality of payment processors based, at least in part, on the analysis.