Systems, methods and apparatus for variable settlement accounts

1. A computer-based funds transfer system for settling accounts according to merchant-controlled settlement rules, comprising:

a web server or application server of an acquirer processor system configured to:

generate a merchant dashboard graphical user interface (GUI) for enabling merchants to input settlement rules for settling funds from an acquirer processor pooled account to merchant accounts; and

direct a remote computing device of a merchant to electronically generate and present an instance of the merchant dashboard GUI on a display of the remote computing device, wherein the instance of the merchant dashboard GUI comprises:

a settlement rules portion comprising an amount field and a target account field; and

an account identification field;

receive via the merchant input of the account identification field of the merchant dashboard GUI, one or more merchant accounts; and

receive, via the merchant input of the settlement rules portion of the merchant dashboard GUI, one or more settlement rules for the merchant, the one or more received settlement rules each comprising an amount entered into the amount field of the settlement rules portion and at least one target account entered into the target account field of the settlement rules portion, wherein the at least one target account is one or more of the received one or more merchant accounts, and wherein the one or more settlement rules provide one or more directives for optionally settling funds from an acquirer processor pooled account to at least one of the received one or more merchant accounts;

an electronic rules database of the acquirer processor system connected to the web server or application server of the acquirer processor system, the electronic rules database storing the one or more received settlement rules for the merchant; and

a settlement engine of the acquirer processor system connected to the electronic rules database of the acquirer processor system, the settlement engine configured to:

receive a payment authorization request from a point of system device for a transaction;

communicate the payment authorization to the payment network to seek authorization for the transaction;

receive an electronic transfer of funds into the acquirer processor pooled account on behalf of the merchant subsequent to execution of a payment vehicle transaction at a point of sale device of the merchant based on the authorization granted by the payment network;

upon receipt of the electronic transfer of funds into the acquirer processor pooled account on behalf of the merchant, retrieve the settlement rules received for the merchant from the electronic rules database; and

based on the one or more settlement rules retrieved for the merchant, electronically transfer funds from the acquirer processor pooled account to the at least one of the received one or more merchant accounts according to the retrieved settlement rules, wherein the retrieved settlement rules define one or more funds transfer technique(s) to electronically transfer funds from the acquirer processor pooled account to the one or more merchant accounts, and wherein the electronic transfer of funds is a substantially instantaneous transfer of funds to the one or more merchant account(s) using an intra-bank transfer technique, wherein the acquirer processor pooled account retains the funds if an error in funding one or more merchant account(s) is experienced.

2. The computer-based funds transfer system of claim 1 , wherein the web server or application server of the acquirer processor system is configured to receive a plurality of settlement rules for the merchant.

3. The computer-based funds transfer system of claim 1 , wherein the settlement rules portion of the generated instance of the merchant dashboard GUI further comprises one or more of a rule revision option and a rule deletion option.

4. The computer-based funds transfer system of claim 1 , wherein the instance of the merchant dashboard GUI further comprises one or more of an account revision option and an account deletion option.

5. The computer-based funds transfer system of claim 1 , wherein the received one or more settlement rules specifies one or more electronic fund transfer methods for electronically transferring funds to the at least one of the received one or more merchant accounts.

6. The computer-based funds transfer system of claim 1 , wherein the one or more received settlement rules identifies a plurality of received merchant accounts.

7. The computer-based funds transfer system of claim 6 , wherein the plurality of received merchant accounts comprises a first financial account and a second financial account.

8. The computer-based funds transfer system of claim 7 , wherein the first financial account is of a first account type and the second financial account is of a second account type.

9. The computer-based funds transfer system of claim 7 , wherein the first financial account is accessible by a first account holder and the second financial account is accessible by a second account holder, wherein the first account holder is different than the second account holder.

10. The computer-based funds transfer system of claim 6 , wherein the plurality of received merchant accounts are each of an account type, wherein the account type is any of a checking account, a savings account, a pre-paid open-loop account, a virtual wallet account, a peer-to-peer account, a pre-paid closed-loop account, an investment account, a loan account, and a money market account.

11. A system comprising:

one or more processors of an acquirer processor system, configured to:

receive one or more settlement rules for a merchant through at least one input in one or more of the amount field and the target account field, wherein the one or more settlement rules provide one or more directives for settling funds from the acquirer processor pooled account to the plurality of merchant financial accounts;

an electronic rules database of the acquirer processor system connected to the one or more processors of the acquirer processor system, the electronic rules database storing the one or more received settlement rules for the merchant; and

a settlement engine of the acquirer processor system connected to the electronic rules database of the acquirer processor system, the settlement engine configured to:

receive a payment authorization request from a point of system device for a transaction;

communicate the payment authorization to the payment network to seek authorization for the transaction;

receive an electronic transfer of funds into the acquirer processor pooled account on behalf of the merchant subsequent to execution of a payment vehicle transaction at a point of sale device of the merchant based on the authorization granted by the payment network;

upon receipt of the electronic transfer of funds into the acquirer processor pooled account on behalf of the merchant, access the electronic rules database to retrieve the one or more settlement rules received in relation to the merchant; and

based on the one or more settlement rules retrieved for the merchant from the electronic rules database, electronically transfer a first portion of funds to one of the plurality of merchant financial accounts according to the retrieved settlement rules, and electronically transfer a second portion of funds to another of the plurality of merchant financial accounts according to the retrieved settlement rules, wherein the retrieved settlement rules define one or more funds transfer technique(s) to electronically transfer funds from the acquirer processor pooled account to the one or more merchant accounts, wherein the electronic transfer of the first portion of funds is a substantially instantaneous transfer of funds to the one or more merchant account(s) using an intra-bank transfer technique, wherein the acquirer processor pooled account retains the funds if an error in funding one or more merchant accounts is experienced.

12. The system of claim 11 , wherein the one or more settlement rules specifies a percentage of funds to electronically transfer from the acquirer processor account to at least one of the plurality of merchant financial accounts.

13. The system of claim 11 , wherein the one or more settlement rules specifies one or more electronic fund transfer methods for electronically transferring funds to at least one of the plurality of merchant financial accounts.

14. The system of claim 11 , wherein a first merchant financial account of the plurality of merchant financial accounts is held by a first account holder and a second merchant financial account of the plurality of merchant financial accounts is held by a second account holder, wherein the first account holder is different than the second account holder.

15. The system of claim 11 , wherein the plurality of merchant financial accounts are each of an account type, wherein the account type is any of a checking account, a savings account, a pre-paid open-loop account, a virtual wallet account, a peer-to-peer account, a pre-paid closed-loop account, an investment account, a loan account, and a money market account.