Systems and methods for electronic scheduling of payment transaction submissions over electronic networks
A method for payment submission scheduling includes receiving, at an acquirer computing system, an authorization request submitted by a merchant computing system for a transaction, the merchant computing system being associated with a merchant, and the authorization request identifying account information for an account that is associated with a payment card network and an issuer processor; generating a submission schedule to submit the authorization request based on a dataset of historical processing results, the submission schedule identifying a time slot within which the submitted authorization request is to be transmitted to the issuer processor; and transmitting, by the acquirer computing system to an issuer processor, the authorization request, within the time slot identified by the submission schedule.
1. A method for payment submission scheduling, comprising:
receiving, by a processor, an electronic authorization request for a transaction to be submitted within a specified time window;
generating, by the processor, a submission schedule to submit the electronic authorization request within the specified time window based on a statistical analysis of a dataset of historical electronic authorization request processing results from a transaction data database, wherein the submission schedule identifies an optimal time slot within the specified time window within which the submitted electronic authorization request is to be transmitted; and
transmitting, by the processor, the electronic authorization request within the optimal time slot identified by the submission schedule.
2. The method of claim 1 , further comprising:
performing, by the processor, the statistical analysis of at least one of a Bank Identification Number (BIN), a Merchant Classification Code (MCC), and a Reason Response Code (RRC) received with a denial message from a previous electronic authorization request in the dataset of processing results for historical electronic authorization requests.
3. The method of claim 1 , wherein the electronic authorization request is associated with a merchant, and wherein the electronic authorization request identifies account information for an account that is associated with a payment card network and an issuer processor.
4. The method of claim 1 , wherein the submission schedule identifies any of a day of the week for submission of the electronic authorization request, a day of the month for submission of the electronic authorization request, or a periodic schedule for submission of the electronic authorization request.
5. The method of claim 2 , further comprising:
receiving an electronic authorization result; and
updating the transaction database using the received authorization result.
6. The method of claim 5 , further comprising:
retransmitting, by the processor, the electronic authorization request when the authorization result indicates a failure of the electronic authorization request.
7. The method of claim 1 , wherein the submission schedule identifies a plurality of time slots, wherein the received electronic authorization request is to be submitted in at least one of the plurality of time slots.
8. A non-transitory computer readable medium storing a program causing a computer to execute a method of payment submission scheduling, the method comprising:
receiving, by a processor, an electronic authorization request for a transaction to be submitted within a specified time window;
generating, by the processor, a submission schedule to submit the electronic authorization request within the specified time window based on a statistical analysis of a dataset of historical electronic authorization request processing results from a transaction data database, wherein the submission schedule identifies an optimal time slot within the specified time window within which the submitted electronic authorization request is to be transmitted; and
transmitting, by the processor, the electronic authorization request within the optimal time slot identified by the submission schedule.
9. The non-transitory computer readable medium of claim 8 , wherein the method further comprises:
performing, by the processor, the statistical analysis of at least one of a Bank Identification Number (BIN), a Merchant Classification Code (MCC), and a Reason Response Code (RRC) received with a denial message from a previous electronic authorization request in the dataset of processing results for historical electronic authorization requests.
10. The non-transitory computer readable medium of claim 8 , wherein the electronic authorization request is associated with a merchant, and wherein the electronic authorization request identifies account information for an account that is associated with a payment card network and an issuer processor.
11. The non-transitory computer readable medium of claim 8 , wherein the submission schedule identifies any of a day of the week for submission of the electronic authorization request, a day of the month for submission of the electronic authorization request, or a periodic schedule for submission of the electronic authorization request.
12. The non-transitory computer readable medium of claim 9 , wherein the method further comprises:
receiving an authorization result; and
updating the transaction database using the received authorization result.
13. The non-transitory computer readable medium of claim 12 , wherein the method further comprises:
retransmitting, by the processor, the electronic authorization request if the authorization result indicates a failure of the authorization request.
14. The non-transitory computer readable medium of claim 8 , wherein the submission schedule identifies a plurality of time slots, wherein the received electronic authorization request is to be submitted in at least one of the plurality of time slots.
15. A computing system for payment submission scheduling, the computing system comprising a non-transitory computer readable medium having instructions stored thereon which when executed by a processor cause the processor to:
receive, by the processor, an electronic authorization request for a transaction to be submitted within a specified time window;
generate, by the processor, a submission schedule to submit the electronic authorization request within the specified time window based on a statistical analysis of a dataset of historical electronic authorization request processing results from a transaction data database, wherein the submission schedule identifies an optimal time slot within the specified time window within which the submitted electronic authorization request is to be transmitted; and
transmit, by the processor, the electronic authorization request within the optimal time slot identified by the submission schedule.
16. The system of claim 15 , wherein the instructions executed by the processor further cause the processor to:
perform, by the processor, the statistical analysis of at least one of a Bank Identification Number (BIN), a Merchant Classification Code (MCC), and a Reason Response Code (RRC) received with a denial message from a previous electronic authorization request in the dataset of processing results for historical electronic authorization requests.
17. The system of claim 15 , wherein the electronic authorization request is associated with a merchant, and wherein the electronic authorization request identifies account information for an account that is associated with a payment card network and an issuer processor.
18. The system of claim 15 , wherein the submission schedule identifies any of a day of the week for submission of the electronic authorization request, a day of the month for submission of the electronic authorization request, or a periodic schedule for submission of the electronic authorization request.
19. The system of claim 16 , wherein the instructions executed by the processor further cause the processor to:
receive an electronic authorization result; and
update the transaction database using the received electronic authorization result.
20. The system of claim 19 , wherein the instructions executed by the processor further cause the processor to:
retransmit, by the processor, the electronic authorization request when the electronic authorization result indicates a failure of the electronic authorization request.