Patent Application

App. No. 14/965,266

Abstract

Claims (52)

1 . A computer-implemented payment processing method, comprising:

creating a merchant account associated with a payment processing platform, wherein the merchant account is associated with a payment facilitator;

associating the merchant account with a first settlement account held by a first financial institution;

creating a sub-merchant account associated with the payment processing platform, the sub-merchant account associated with a sub-merchant of the payment facilitator, wherein the payment facilitator charges the sub-merchant a payment facilitation fee to facilitate payment processing on behalf of the sub-merchant;

associating the sub-merchant account with a second settlement account held by a second financial institution;

subsequent to creating the merchant account and the sub-merchant account, processing a payment transaction for an initial amount of funds originating with the sub-merchant;

distributing the payment facilitation fee into the first settlement account; and

distributing remaining funds into the second settlement account.

2 . The computer-implemented payment processing method of claim 1 , wherein the payment processing platform charges a payment processing fee, and wherein the payment processing platform is associated with a third settlement account, the method further comprising:

distributing the payment processing fee into the third settlement account; and wherein the remaining funds is the initial amount of funds less the payment facilitation fee and the payment processing fee.

3 . The computer-implemented payment processing method of claim 1 , wherein the payment transaction is associated with a payment card issued by an issuer financial institution and associated with a card association, the method further comprising distributing fees into a fourth settlement account, wherein the fourth settlement account is associated with the card association.

4 . The computer-implemented payment processing method of claim 1 , comprising:

determining the payment facilitation fee based at least on the initial amount of funds originating with the sub-merchant.

5 . The computer-implemented payment processing method of claim 4 , wherein a value of the payment facilitator fee is the payment facilitator fee less a payment processing fee, wherein the payment processing fee comprises a fee charged by the payment processing platform.

6 . The computer-implemented payment processing method of claim 5 , wherein the payment transaction is associated with a payment card issued by an issuer financial institution and associated with a card association, and the method further comprising:

collecting a card association fee on behalf of the card association.

7 . The computer-implemented payment processing method of claim 1 , further comprising:

creating a plurality of sub-merchant accounts associated with the payment processing platform, each of the plurality of the sub-merchant accounts associated with the payment facilitator, wherein the plurality of sub-merchants comprises a first and second sub-merchant, wherein the payment facilitator charges a first payment facilitation fee to facilitate payment processing on behalf of the first sub-merchant and a second payment facilitation fee to facilitate payment processing on behalf of the second sub-merchant.

8 . The computer-implemented payment processing method of claim 7 , wherein the first payment facilitation fee is different than the second payment facilitation fee.

9 . The computer-implemented payment processing method of claim 8 , further comprising:

receiving a request from the payment facilitator to change the first payment facilitation fee.

10 . A non-transitory computer readable medium having instructions stored thereon which when executed by a processor cause the processor to:

create a merchant account associated with a payment processing platform, wherein the merchant account is associated with a payment facilitator;

associate the merchant account with a first settlement account held by a first financial institution;

create a sub-merchant account associated with the payment processing platform, the sub-merchant account associated with a sub-merchant of the payment facilitator, wherein the payment facilitator charges the sub-merchant a payment facilitation fee to facilitate payment processing on behalf of the sub-merchant;

associate the sub-merchant account with a second settlement account held by a second financial institution;

subsequent to creating the merchant account and the sub-merchant account, process a payment transaction for an initial amount of funds originating with the sub-merchant;

distribute the payment facilitation fee into the first settlement account; and

distribute remaining funds into the second settlement account.

11 . The non-transitory computer readable medium of claim 10 , wherein the payment processing platform charges a payment processing fee, and wherein the payment processing platform is associated with a third settlement account, and the instructions when executed by a processor further cause the processor to:

distribute the payment processing fee into the third settlement account; and where the remaining funds is the initial amount of funds less the payment facilitation fee and the payment processing fee.

12 . The non-transitory computer readable medium of claim 10 , wherein the payment transaction is associated with a payment card issued by an issuer financial institution and associated with a card association, wherein instructions stored thereon which when executed by a processor cause the processor to distribute fees into a fourth settlement account, wherein the fourth settlement account is associated with the card association.

13 . The non-transitory computer readable medium of claim 10 , wherein instructions stored thereon which when executed by a processor cause the processor to:

determine a payment facilitation fee based at least on initial amount of funds originating with the sub-merchant.

14 . The non-transitory computer readable medium of claim 13 , wherein a value of the payment facilitator fee is the payment facilitator fee less a payment processing fee, wherein the payment processing fee comprise a fee charged by the payment processing platform.

15 . The non-transitory computer readable medium of claim 14 , wherein the payment transaction is associated with a payment card issued by an issuer financial institution and associated with a card association, and the instructions when executed by a processor further cause the processor to:

collect a card association fee on behalf of the card association.

16 . The non-transitory computer readable medium of claim 10 , wherein instructions stored thereon which when executed by a processor cause the processor to:

create a plurality of sub-merchant accounts associated with the payment processing platform, each of the plurality of the sub-merchant accounts associated with the payment facilitator, wherein the plurality of sub-merchants comprises a first and second sub-merchant, wherein the payment facilitator charges a first payment facilitation fee to facilitate payment processing on behalf of the first sub-merchant and a second payment facilitation fee to facilitate payment processing on behalf of the second sub-merchant.

17 . The non-transitory computer readable medium of claim 16 , wherein the first payment facilitation fee is different than the second payment facilitation fee.

18 . The non-transitory computer readable medium of claim 17 , wherein instructions stored thereon which when executed by a processor cause the processor to:

receive a request from the payment facilitator to change the first payment facilitation fee.

19 . A payment processing platform, comprising:

means for creating a merchant account associated with a payment processing platform, wherein the merchant account is associated with a payment facilitator;

means for associating the merchant account with a first settlement account held by a first financial institution;

means for creating a sub-merchant account associated with the payment processing platform, the sub-merchant account associated with a sub-merchant of the payment facilitator, wherein the payment facilitator charges the sub-merchant a payment facilitation fee to facilitate payment processing on behalf of the sub-merchant;

means for associating the sub-merchant account with a second settlement account held by a second financial institution;

means for processing a payment transaction for an initial amount of funds originating with the sub-merchant;

means for distributing the payment facilitation fee into the first settlement account; and

means for distributing remaining funds into the second settlement account.

20 . The payment processing platform of claim 19 , comprising:

means for creating a plurality of sub-merchant accounts associated with the payment processing platform, each of the plurality of the sub-merchant accounts associated with the payment facilitator, wherein the plurality of sub-merchants comprises a first and second sub-merchant, wherein the payment facilitator charges a first payment facilitation fee to facilitate payment processing on behalf of the first sub-merchant and a second payment facilitation fee to facilitate payment processing on behalf of the second sub-merchant.

Assignments (11)