Technologies for preprocessing transaction authorization records

1. A method for preprocessing transaction authorization records for clearing data batch file generation, the method comprising:

receiving, by a settlement processing server, a first transaction authorization record corresponding to a first authorized transaction;

appending the first transaction authorization record to a first authorization stream comprising a plurality of transaction authorization records corresponding to a plurality of authorized transactions;

determining, by the settlement processing server, whether to close the first authorization stream;

in response to a determination to close the first authorization stream:

closing, by the settlement processing server, the first authorization stream;

initializing, by the settlement processing server, a second authorization stream;

splitting, by the settlement processing server, the plurality of transaction authorization records of the first authorization stream into at least a first authorization substream and a second authorization substream based at least in part on a determined classification for each of the plurality of transaction authorization records of the first authorization stream;

preprocessing, by the settlement processing server, the plurality of transaction authorization records of the first and second authorization substreams;

receiving, by the settlement processing server and while preprocessing the plurality of transaction authorization records of the first and second authorization substreams, a second transaction authorization record corresponding to a second authorized transaction; and

appending, by the settlement processing server, the second transaction authorization record to the second authorization stream; and

generating, by the settlement processing server, a clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams.

2. The method of claim 1 , further comprising:

receiving, by the settlement processing server and while preprocessing the plurality of transaction authorization records of the first and second authorization substreams, a plurality of additional transaction authorization records corresponding to a plurality of additional authorized transactions;

appending, by the settlement processing server, the plurality of additional transaction authorization records to a second authorization stream;

determining, by the settlement processing server, whether to close the second authorization stream;

in response to a determination to close the second authorization stream:

closing, by the settlement processing server, the second authorization stream;

splitting, by the settlement processing server, the plurality of additional transaction authorization records of the second authorization stream into a third authorization substream and a fourth authorization substream based at least in part on a determined classification for each of the plurality of additional transaction authorization records of the second authorization stream; and

preprocessing, by the settlement processing server, the plurality of additional transaction authorization records of the third and fourth authorization substreams; and

wherein generating the clearing data batch file comprises generating the clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams and the plurality of additional transaction authorization records of the third and fourth authorization substreams.

3. The method of claim 2 , further comprising:

transmitting, by the settlement processing server, the clearing data batch file to a settlement processing computing device of a payment network; and

receiving, by the settlement processing server, net settlement data from the settlement processing computing device of the payment network, the received net settlement data is based on the clearing data batch file.

4. The method of claim 3 , further comprising finalizing, by the settlement processing server, settlement of the plurality of transaction authorization records of the first, second, third, and fourth authorization substreams as a function of the clearing data batch file.

5. The method of claim 4 , wherein finalizing settlement of the plurality of transaction authorization records comprises:

generating, by the settlement processing server, funding instructions based at least in part on the net settlement data received from the settlement processing computing device of the payment network; and

transmitting, by the settlement processing server, the funding instructions to a funding computing device of a financial institution, the funding instructions indicate an amount of funds for transfer to an account of a merchant.

6. The method of claim 1 , further comprising determining, by the settlement processing server, the classification for each of the plurality of transaction authorization records of the first authorization stream based on the plurality of transaction authorization records corresponding to the plurality of authorized transactions.

7. The method of claim 6 , wherein the determined classification for each of the plurality of transaction authorization records of the first authorization stream comprises at least one of a merchant identifier, a payment card type, a reference settlement cut-off time, a reference clearing cut-off time, a transaction amount, or interchange fees.

8. The method of claim 1 , wherein preprocessing the plurality of transaction authorization records of the first and second authorization substreams comprises at least one of generating a settlement report for the plurality of transaction authorization records of the first and second authorization substreams, analyzing the plurality of transaction authorization records of the first and second authorization substreams, or detecting fraudulent activity corresponding to one or more of the plurality of transaction authorization records of the first and second authorization substreams.

9. A system for preprocessing transaction authorization records for clearing data batch file generation, the system comprising:

a settlement processing server comprising a processor executing instructions stored in memory, wherein the instructions cause the processor to:

receive a first transaction authorization record that corresponds to a first authorized transaction;

append the first transaction authorization record to a first authorization stream that comprises a plurality of transaction authorization records that correspond to a plurality of authorized transactions;

determine whether to close the first authorization stream;

in response to a determination to close the first authorization stream:

close the first authorization stream;

initialize a second authorization stream;

split the plurality of transaction authorization records of the first authorization stream into at least a first authorization substream and a second authorization substream based at least in part on a determined classification for each of the plurality of transaction authorization records of the first authorization stream;

preprocess the plurality of transaction authorization records of the first and second authorization substreams;

receive, while the plurality of transaction authorization records of the first and second authorization substreams are preprocessed, a second transaction authorization record that corresponds to a second authorized transaction; and

append the second transaction authorization record to the second authorization stream; and

generate a clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams.

10. The system of claim 9 , wherein the instructions of the settlement processing server further cause the processor to:

receive, while the plurality of transaction authorization records of the first and second authorization substreams are preprocessed, a plurality of additional transaction authorization records that correspond to a plurality of additional authorized transactions;

append the plurality of additional transaction authorization records to a second authorization stream;

determine whether to close the second authorization stream;

in response to a determination to close the second authorization stream:

close the second authorization stream;

split the plurality of additional transaction authorization records of the second authorization stream into a third authorization substream and a fourth authorization substream based at least in part on a determined classification for each of the plurality of additional transaction authorization records of the second authorization stream; and

preprocess the plurality of additional transaction authorization records of the third and fourth authorization substreams; and

wherein to generate the clearing data batch file comprises to generate the clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams and the plurality of additional transaction authorization records of the third and fourth authorization substreams.

11. The system of claim 10 , wherein the instructions of the settlement processing server further cause the processor to:

transmit the clearing data batch file to a settlement processing computing device of a payment network; and

receive net settlement data from the settlement processing computing device of the payment network, the received net settlement data is based on the clearing data batch file.

12. The system of claim 11 , wherein the instructions of the settlement processing server further cause the processor to finalize settlement of the plurality of transaction authorization records of the first, second, third, and fourth authorization substreams as a function of the clearing data batch file.

13. The system of claim 12 , wherein to finalize settlement of the plurality of transaction authorization records comprises to:

generate funding instructions based at least in part on the net settlement data received from the settlement processing computing device of the payment network; and

transmit the funding instructions to a funding computing device of a financial institution, the funding instructions indicate an amount of funds for transfer to an account of a merchant.

14. The system of claim 9 , wherein the instructions of the settlement processing server further cause the processor to determine the classification for each of the plurality of transaction authorization records of the first authorization stream based on the plurality of transaction authorization records that correspond to the plurality of authorized transactions.

15. The system of claim 14 , wherein the determined classification for each of the plurality of transaction authorization records of the first authorization stream comprises at least one of a merchant identifier, a payment card type, a reference settlement cut-off time, a reference clearing cut-off time, a transaction amount, or interchange fees.

16. The system of claim 9 , wherein to preprocess the plurality of transaction authorization records of the first and second authorization substreams comprises to at least one of generate a settlement report for the plurality of transaction authorization records of the first and second authorization substreams, analyze the plurality of transaction authorization records of the first and second authorization substreams, or detect fraudulent activity corresponding to one or more of the plurality of transaction authorization records of the first and second authorization substreams.

17. A method for preprocessing transaction authorization records for clearing data batch file generation, the method comprising:

receiving, by a settlement processing server, a first transaction authorization record corresponding to a first authorized transaction;

appending, by the settlement processing server, the first transaction authorization record to a first authorization stream comprising a plurality of transaction authorization records corresponding to a plurality of authorized transactions;

closing, by the settlement processing server, the first authorization stream;

initializing, by the settlement processing server, a second authorization stream;

splitting, by the settlement processing server, the plurality of transaction authorization records of the first authorization stream into at least a first authorization substream and a second authorization substream based at least in part on a determined classification for each of the plurality of transaction authorization records of the first authorization stream;

preprocessing, by the settlement processing server, the plurality of transaction authorization records of the first and second authorization substreams;

receiving, by the settlement processing server and while preprocessing the plurality of transaction authorization records of the first and second authorization substreams, a second transaction authorization record corresponding to a second authorized transaction;

appending, by the settlement processing server, the second transaction authorization record to the second authorization stream; and

generating, by the settlement processing server, a clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams.

18. The method of claim 17 , further comprising:

receiving, by the settlement processing server and while preprocessing the plurality of transaction authorization records of the first and second authorization substreams, a plurality of additional transaction authorization records corresponding to a plurality of additional authorized transactions;

appending, by the settlement processing server, the plurality of additional transaction authorization records to a second authorization stream;

closing, by the settlement processing server, the second authorization stream;

splitting, by the settlement processing server, the plurality of additional transaction authorization records of the second authorization stream into a third authorization substream and a fourth authorization substream based at least in part on a determined classification for each of the plurality of additional transaction authorization records of the second authorization stream;

preprocessing, by the settlement processing server, the plurality of additional transaction authorization records of the third and fourth authorization substreams; and

wherein generating the clearing data batch file comprises generating the clearing data batch file based at least in part on the plurality of transaction authorization records of the first and second authorization substreams and the plurality of additional transaction authorization records of the third and fourth authorization substreams.

19. The method of claim 18 , further comprising:

transmitting, by the settlement processing server, the clearing data batch file to a settlement processing computing device of a payment network; and

receiving, by the settlement processing server, net settlement data from the settlement processing computing device of the payment network, the received net settlement data is based on the clearing data batch file.

20. The method of claim 19 , further comprising finalizing, by the settlement processing server, settlement of the plurality of transaction authorization records of the first, second, third, and fourth authorization substreams as a function of the clearing data batch file.

21. The method of claim 20 , wherein finalizing settlement of the plurality of transaction authorization records comprises:

generating, by the settlement processing server, funding instructions based at least in part on the net settlement data received from the settlement processing computing device of the payment network; and

transmitting, by the settlement processing server, the funding instructions to a funding computing device of a financial institution, the funding instructions indicate an amount of funds for transfer to an account of a merchant.

22. The method of claim 17 , further comprising determining, by the settlement processing server, the classification for each of the plurality of transaction authorization records of the first authorization stream based on the plurality of transaction authorization records corresponding to the plurality of authorized transactions.

23. The method of claim 22 , wherein the determined classification for each of the plurality of transaction authorization records of the first authorization stream comprises at least one of a merchant identifier, a payment card type, a reference settlement cut-off time, a reference clearing cut-off time, a transaction amount, or interchange fees.

24. The method of claim 17 , wherein preprocessing the plurality of transaction authorization records of the first and second authorization substreams comprises at least one of generating a settlement report for the plurality of transaction authorization records of the first and second authorization substreams, analyzing the plurality of transaction authorization records of the first and second authorization substreams, or detecting fraudulent activity corresponding to one or more of the plurality of transaction authorization records of the first and second authorization substreams.