Systems and methods for routing electronic transactions using pseudo-network simulation

1. A computer-implemented method for routing electronic payment transactions to PIN-less networks using payment pseudo-networks and electronic transaction simulation, the method comprising:

receiving, by at least one processor of a transaction routing server, transaction-related information from a merchant terminal via an electronic network, the merchant terminal associated with a merchant, the transaction-related information received in a first message format defining the received transaction-related information to include a bank identification number (“BIN”), one or more available payment network IDs, one or more merchant categories, an issuer regulatory status, a transaction amount, and a preferred status;

extracting, by the at least one processor of the transaction routing server, transaction routing criteria from the received transaction-related information;

dynamically identifying, by the at least one processor of the transaction routing server, one or more eligible payment networks based on the extracted transaction routing criteria;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each identified eligible payment network, each breakeven transaction amount defining a point at which two or more eligible payment networks have the same expenses for a given transaction amount;

converting, by the at least one processor of the transaction routing server, the received transaction-related information from the first message format to one or more signature debit transactions in a second message format readable by a least cost PIN-less debit network selected from the eligible payment networks based on an identification of a desired breakeven transaction amount for the PIN-less debit network; and

routing, by the at least one processor of the transaction routing server, the one or more signature debit transactions in the second message format to the least cost PIN-less debit network.

2. The computer-implemented method of claim 1 , wherein the transaction related information further includes one or more of:

a primary account number;

an issuer identification number;

a payment card number;

a mode of payment including a swiping of a card, keying in an identification related to the payment network, a contactless mode of payment, or a mode of payment that utilizes a chip; and

whether an address verification system was utilized.

3. The computer-implemented method of claim 1 , further comprising:

identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status.

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

dynamically sorting, by the at least one processor of the transaction routing server, the identified eligible networks according to breakeven transaction amounts, absolute cost, availability of volume discount, and availability of preferred rates.

5. The computer-implemented method of claim 1 , further comprising:

receiving, by the at least one processor of the transaction routing server, an identification of a regulatory threshold or negotiated volume threshold;

identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each eligible network, the breakeven transaction amounts defining a point at which two or more eligible networks have the same expenses for a given transaction amount; and

dynamically sorting, by the at least one processor of the transaction routing server, the eligible networks and pseudo-networks to identify a least-cost network.

6. The computer-implemented method of claim 1 , further comprising:

generating, by the at least one processor of the transaction routing server, a display of routing and settlement across eligible networks, and user-configurable displays of regulated vs. exempt issuers.

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

generating, by the at least one processor of the transaction routing server, a display of first grouping of networks to which a set of transactions were routed relative to a second grouping of networks to which the set of transactions could have been routed, for an overall cost savings to the merchant.

8. The computer-implemented method of claim 7 , further comprising:

generating, by the at least one processor of the transaction routing server, a plurality of user elements enabling the merchant to reveal a group of transaction routing decisions according to issuer, regulatory exemption status, and preference or preferred rate status.

9. A system for routing electronic payment transactions to PIN-less networks using payment pseudo-networks and electronic transaction simulation, the system comprising:

a data storage device storing instructions for routing electronic payment transactions to PIN-less networks using payment pseudo-networks and electronic transaction simulation in an electronic storage medium; and

at least one processor of a transaction routing server, configured to execute the instructions to perform a method including:

receiving, by the at least one processor of the transaction routing server, transaction-related information from a merchant terminal via an electronic network, the merchant terminal associated with a merchant, the transaction-related information received in a first message format, the received transaction-related information to include a bank identification number (“BIN”), one or more available payment network IDs, one or more merchant categories, an issuer regulatory status, a transaction amount, and a preferred status;

extracting, by the at least one processor of the transaction routing server, routing criteria from the received transaction-related information;

dynamically identifying, by the at least one processor of the transaction routing server, one or more eligible payment networks based on extracted transaction routing criteria;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each identified eligible network, each breakeven transaction amount defining a point at which two or more eligible networks have the same expenses for a given transaction amount;

converting, by the at least one processor of the transaction routing server, the received transaction-related information from the first message format to one or more signature debit transactions in a second message format readable by a least cost PIN-less debit network selected from the eligible payment networks based on an identification of a desired breakeven transaction amount for the least cost PIN-less debit network; and

routing, by the at least one processor of the transaction routing server, the one or more signature debit transactions in the second message format to the least cost PIN-less network.

10. The system of claim 9 , wherein the transaction related information further includes one or more of:

a primary account number;

an issuer identification number;

a payment card number;

a mode of payment including a swiping of a card, keying in an identification related to the payment network, a contactless mode of payment, or a mode of payment that utilizes a chip; and

whether an address verification system was utilized.

11. The system of claim 9 , wherein the system is further configured for:

identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status.

12. The system of claim 9 , wherein the system is further configured for:

dynamically sorting, by the at least one processor of the transaction routing server, the identified eligible networks according to breakeven transaction amount, absolute cost, availability of volume discount, and availability of preferred rates.

13. The system of claim 9 , wherein the system is further configured for:

receiving, by the at least one processor of the transaction routing server, an identification of a regulatory threshold or negotiated volume threshold;

identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each eligible network, the breakeven transaction amounts defining a point at which two or more eligible networks have the same expenses for a given transaction amount; and

dynamically sorting, by the at least one processor of the transaction routing server, the eligible networks and pseudo-networks to identify a least-cost network.

14. The system of claim 9 , wherein the system is further configured for:

generating, by the at least one processor of the transaction routing server, a display of routing and settlement across eligible networks, and user-configurable displays of regulated vs. exempt issuers.

15. The system of claim 9 , wherein the system is further configured for:

generating, by the at least one processor of the transaction routing server, a display of first grouping of networks to which a set of transactions were routed relative to a second grouping of networks to which the set of transactions could have been routed, for an overall cost savings to the merchant.

16. The system of claim 15 , wherein the system is further configured for:

generating, by the at least one processor of the transaction routing server, a plurality of user elements enabling the merchant to reveal a group of transaction routing decisions according to issuer, regulatory exemption status, and preference or preferred rate status.

17. A non-transitory machine-readable medium storing instructions that, when executed by the a computing system, causes the computing system to perform a method for routing electronic payment transactions to PIN-less networks using payment pseudo-networks and electronic transaction simulation, the method including:

receiving, by at least one processor of a transaction routing server, transaction-related information from a merchant terminal via an electronic network, the transaction-related information received in a first message format defining the received transaction-related information to include a bank identification number (“BIN”), one or more available payment network IDs, one or more merchant categories, an issuer regulatory status, a transaction amount, and a preferred status;

extracting, by the at least one processor of the transaction routing server, routing criteria from the received transaction-related information;

dynamically identifying, by the at least one processor of the transaction routing server, one or more eligible payment networks based on extracted transaction routing criteria;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each identified eligible network, each breakeven transaction amount defining a point at which two or more eligible networks have the same expenses for a given transaction amount;

converting, by the at least one processor of the transaction routing server, the received transaction-related information from the first message format to one or more signature debit transactions in a second message format readable by a least cost PIN-less debit network selected from the eligible payment networks based on an identification of a desired breakeven transaction amount for the PIN-less debit network; and

routing, by the at least one processor of the transaction routing server, the one or more signature debit transactions in the second message format to the least cost PIN-less network.

18. The non-transitory machine-readable medium of claim 17 , the method further comprising: identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status.

19. The non-transitory machine-readable medium of claim 17 , the method further comprising dynamically sorting, by the at least one processor of the transaction routing server, the identified eligible networks according to breakeven transaction amount, absolute cost, availability of volume discount, and availability of preferred rates.

20. The non-transitory machine-readable medium of claim 17 , the method further comprising:

receiving an identification of a regulatory threshold or negotiated volume threshold;

identifying, by the at least one processor of the transaction routing server, one or more pseudo-networks corresponding to one or more of the eligible networks, each pseudo-network comprising a modification of a network to account for a change in regulatory exemption status or a change in preferred status;

dynamically identifying, by the at least one processor of the transaction routing server, one or more breakeven transaction amounts for each eligible network, the breakeven transaction amounts defining a point at which two or more eligible networks have the same expenses for a given transaction amount; and

dynamically sorting, by the at least one processor of the transaction routing server, the eligible networks and pseudo-networks to identify a least-cost network.