Granted Patent B2

US 12,586,046 · App. 17/654,673 · Granted Mar 24, 2026

Inventors: William J. Wied (Austin, TX); Aman S. Cheema (Warwickshire, GB); Manuela Dragan (Westfield, NJ); Stephen E. Dinan (Austin, TX)

Assignee: Worldpay, LLC

G06Q20/047G06Q20/023G06Q20/065G06Q20/102

Abstract

Claims (63)

1 . A method of executing an electronic transaction by a real time transaction system, the method comprising:

receiving, at an application programing interface (API) system and from a computing device, an electronic transaction request associated with a user and a receipt date;

determining, using a processor of the API system and without input from the user or a target recipient, a value associated with the electronic transaction request and a threshold settlement date by which the electronic transaction request is required to be processed to a recipient account associated with the target recipient using electronic communication data associated with the user and the target recipient, wherein the electronic communication data is captured via the API system;

comparing, using the processor of the API system, the value to a predetermined threshold of each of a plurality of available transaction networks;

determining, using the processor of the API system, at least one transaction network certified to process the electronic transaction request based on the value being below the predetermined threshold;

determining, using the processor of the API system, a processing time for the electronic transaction request for each of the at least one transaction networks certified to process the electronic transaction request;

determining, using the processor of the API system and based on the receipt date and the processing time for each of the at least one transaction networks, an optimal transaction network from the at least one transaction network and a transfer execution date, wherein the optimal transaction network is certified to process the electronic transaction request and configured to process the electronic transaction request by the transfer execution date at a least cost, and wherein the transfer execution date is a latest date by which the electronic transaction request is executable via the optimal transaction network for the value of the electronic transaction request by the threshold settlement date, wherein the determining comprises:

accessing, using the processor of the API system and in a database in electronic communication with the API system, a plurality of stored transaction processing network configurations associated with the at least one transaction network, the plurality of stored transaction processing network configurations including at least a transaction processing cost; and

determining, using the processor of the API system, the optimal transaction network that is optimally configured to process the electronic transaction request by the transfer execution date at the least cost based on the plurality of stored transaction processing network configurations including the transaction processing cost; and

processing, by the API system, the electronic transaction request to the recipient account on the transfer execution date via the optimal transaction network.

2 . The method of claim 1 , wherein determining the threshold settlement date comprises dynamically identifying the threshold settlement date via analyzing context data associated with an owner of the recipient account.

3 . The method of claim 1 , wherein the at least one transaction network is at least one selected from the group consisting of an Automated Clearing House (ACH) network, a Same Day Automated Clearing House (SD ACH) network, a Real Time Payment (RTP) network, and a credit card network.

4 . The method of claim 1 , wherein determining the at least one transaction network comprises:

identifying a pool of available transaction networks;

determining which of the available transaction networks is certified to process transactions having a transaction value at least as large as the predetermined threshold; and

establishing, as the at least one transaction network, each of the available transaction networks from the pool certified to process transactions of a size at least as large as the predetermined threshold.

5 . The method of claim 1 , wherein determining the processing time comprises accessing a database comprising a listing of associations between available transaction networks and average processing times associated with each of the available transaction networks.

6 . The method of claim 5 , wherein determining the processing time further comprises:

identifying a processing range associated with one or more of the average processing times associated with each of the available transaction networks; and

establishing, as a projected processing time, a longest processing time from the processing range.

7 . The method of claim 1 , wherein the processing comprises automatically executing the processing of the electronic transaction request without receipt of additional user input.

8 . The method of claim 1 , further comprising transmitting, subsequent to the processing, an indication of a successful transfer to at least one of: the user or an owner of the recipient account.

9 . The method of claim 1 , wherein determining the optimal transaction network comprises referencing one or more additional criteria selected from the group consisting of an upcoming holiday, a national designation for the electronic transaction request, and combinations thereof.

10 . A real-time transaction system, comprising:

one or more computer readable media storing instructions for executing a real-time electronic transaction; and

one or more processors configured to execute the instructions to perform operations comprising:

receiving, at an application programing interface (API) system and from a computing device, an electronic transaction request associated with a user and a receipt date;

determining, using a processor of the API system and without input from the user or a target recipient, a value associated with the electronic transaction request and a threshold settlement date by which the electronic transaction request is required to be processed to a recipient account associated with the target recipient using electronic communication data associated with the user and the target recipient, wherein the electronic communication data is captured via the API system;

comparing, using the processor of the API system, the value to a predetermined threshold of each of a plurality of available transaction networks;

determining, using the processor of the API system, at least one transaction network certified to process the electronic transaction request based on the value being below the predetermined threshold;

determining, using the processor of the API system, a processing time for the electronic transaction request for each of the at least one transaction networks certified to process the electronic transaction request;

determining, using the processor of the API system and based on the receipt date and the processing time for each of the at least one transaction networks, an optimal transaction network from the at least one transaction network and a transfer execution date, wherein the optimal transaction network is certified to process the electronic transaction request and configured to process the electronic transaction request by the transfer execution date at a least cost, and wherein the transfer execution date is a latest date by which the electronic transaction request is executable via the optimal transaction network for the value of the electronic transaction request to by the threshold settlement date, wherein the determining comprises:

accessing, using the processor of the API system and in a database in electronic communication with the API system, a plurality of stored transaction processing network configurations associated with the at least one transaction network, the plurality of stored transaction processing network configurations including at least a transaction processing cost; and

determining, using the processor of the API system, the optimal transaction network that is optimally configured to process the electronic transaction request by the transfer execution date at the least cost based on the plurality of stored transaction processing network configurations including the transaction processing cost; and

processing, by the API system, the electronic transaction request to the recipient account on the transfer execution date via the optimal transaction network.

11 . The system of claim 10 , wherein the operations to identify further comprise:

dynamically identifying the threshold settlement date via analyzing context data associated with an owner of the recipient account.

12 . The system of claim 10 , wherein the at least one transaction network is at least one selected from the group consisting of an Automated Clearing House (ACH) network, a Same Day Automated Clearing House (SD ACH) network, a Real Time Payment (RTP) network, and a credit card network.

13 . The system of claim 10 , wherein the operations to determine the at least one transaction network further comprise:

identifying a pool of available transaction networks;

determining which of the available transaction networks is certified to process transactions having a transaction value at least as large as the predetermined threshold; and

establishing, as the at least one transaction network, each of the available transaction networks from the pool certified to process transactions of a size at least as large as the predetermined threshold.

14 . The system of claim 10 , wherein the operations to determine the processing time further comprise:

accessing a database comprising a listing of associations between available transaction networks and average processing times associated with each of the available transaction networks.

15 . The system of claim 14 , wherein the operations to determine the processing time further comprise:

identifying a processing range associated with one or more of the average processing times associated with each of the available transaction networks; and

establishing, as a projected processing time, a longest processing time from the processing range.

16 . The system of claim 10 , wherein the operations to process further comprise:

automatically executing the processing of the electronic transaction request without receipt of additional user input.

17 . The system of claim 10 , wherein the operations further comprise:

transmitting, subsequent to the processing, an indication of a successful transfer to at least one of: the user or an owner of the recipient account.

18 . A non-transitory computer-readable medium storing instructions for executing a real-time transaction, the instructions, when executed by one or more processors, causing the one or more processors to perform operations, comprising:

receiving, at an application programing interface (API) system and from a computing device, an electronic transaction request associated with a user and a receipt date;

determining, using a processor of the API system and without input from the user or a target recipient, a value associated with the electronic transaction request and a threshold settlement date by which the electronic transaction request is required to be processed to a recipient account associated with the target recipient using electronic communication data associated with the user and the target recipient, wherein the electronic communication data is captured via the API system;

comparing, using the processor of the API system, the value to a predetermined threshold of each of a plurality of available transaction networks;

determining, using the processor of the API system, at least one transaction network certified to process the electronic transaction request based on the value being below the predetermined threshold;

determining, using the processor of the API system, a processing time for the electronic transaction request for each of the at least one transaction networks certified to process the electronic transaction request;

determining, using the processor of the API system and based on the receipt date and the processing time for each of the at least one transaction networks, an optimal transaction network from the at least one transaction network and a transfer execution date, wherein the optimal transaction network is certified to process the electronic transaction request and configured to process the electronic transaction request by the transfer execution date at a least cost, and wherein the transfer execution date is a latest date by which the electronic transaction request is executable via the optimal transaction network for the value of the electronic transaction request by the threshold settlement date, wherein the determining comprises:

accessing, using the processor of the API system and in a database in electronic communication with the API system, a plurality of stored transaction processing network configurations associated with the at least one transaction network, the plurality of stored transaction processing network configurations including at least a transaction processing cost; and

determining, using the processor of the API system, the optimal transaction network that is optimally configured to process the electronic transaction request by the transfer execution date at the least cost based on the plurality of stored transaction processing network configurations including the transaction processing cost; and

processing, by the API system, the electronic transaction request to the recipient account on the transfer execution date via the optimal transaction network.

19 . The method of claim 1 , wherein the electronic transaction request is associated with an electronic payment transaction, and wherein the electronic transaction request comprises a request to transmit an electronic payment.

20 . The system of claim 10 , wherein the electronic transaction request is associated with an electronic payment transaction, and wherein the electronic transaction request comprises a request to transmit an electronic payment.

Assignments (6)

Continuity (1)

References Cited (70)