Combination payment card and methods thereof
Systems and methods for processing payment transactions using combination payment cards. The combination payment card is associated with an open-loop account and one or more closed-loop accounts. Transaction information is received from a point-of-sale device. At least one of the closed-loop and open-loop account is debited.
1. A method comprising:
receiving, by one or more acquirer processors, an authorization request for an electronic transaction associated with a combination transaction vehicle from a point-of-sale device, wherein the authorization request includes account information;
determining, by the one or more acquirer processors, that the authorization request identifies the combination transaction vehicle by cross-referencing the account information associated with the authorization request against a list of combination transaction vehicles, wherein the combination transaction vehicle is associated with an open-loop account and a closed-loop account;
determining, by the one or more acquirer processors, whether to authorize the electronic transaction as an open-loop transaction, a closed-loop transaction, or a combination of the open-loop transaction and the closed-loop transaction, based on (i) association information between the electronic transaction, a merchant, the open-loop account, and the closed-loop account, and (ii) resource information in the open-loop account and the closed-loop account to complete the electronic transaction;
authorizing, by the one or more acquirer processors, the electronic transaction as the combination of the open-loop transaction and the closed-loop transaction upon determining the electronic transaction is associated with the closed-loop account with insufficient account balance to cover the electronic transaction, and the open-loop account has sufficient funds to cover an amount of deficiency to complete the electronic transaction; and
causing, by the one or more acquirer processors, a partial approval of the electronic transaction as the closed-loop transaction, and a partial approval of the electronic transaction as the open-loop transaction to cover the amount of deficiency in the closed-loop account.
2. The method of claim 1 , wherein the combination transaction vehicle includes an assigned card number that is associated with both of the closed-loop account and the open-loop account.
3. The method of claim 2 , wherein the closed-loop account associated with the assigned card number is affiliated with a closed-loop merchant and the open-loop account associated with the assigned card number is affiliated with a sponsoring network.
4. The method of claim 1 , wherein the authorizing comprises:
transmitting, by the one or more acquirer processors, the authorization to an acquirer over an electronic network.
5. The method of claim 1 , wherein the closed-loop account is a pooled closed-loop account associated with one or more merchants.
6. The method of claim 5 , further comprising:
determining, by the one or more acquirer processors, the electronic transaction is associated with at least one of the one or more merchants of the pooled closed-loop account.
7. The method of claim 1 , wherein the partial approval of the electronic transaction as the closed-loop transaction is based on account balance of the closed-loop account, and wherein the account balance of the closed-loop account is reduced by an amount equivalent to the partial approval of the electronic transaction.
8. The method of claim 1 , wherein the partial approval of the electronic transaction as the open-loop transaction is based on account balance of the open-loop account, and wherein the account balance of the open-loop account is reduced by an amount equivalent to the the partial approval of the electronic transaction.
9. The method of claim 1 , further comprising:
processing, by the one or more acquirer processors, merchant-specific identifying information to determine association of the merchant with the closed-loop account,
wherein the merchant-specific identifying information includes merchant identification (MID) and terminal identification data.
10. The method of claim 9 , further comprising:
determining, by the one or more acquirer processors, the open-loop account has insufficient funds; and
generating, by the one or more acquirer processors, a prompt at the point-of-sale device for additional funds to cover the amount of deficiency to complete the electronic transaction.
11. A device comprising:
a memory configured to store instructions; and
one or more acquirer processors configured to execute the instructions to perform operations comprising:
receiving an authorization request for an electronic transaction associated with a combination transaction vehicle from a point-of-sale device, wherein the authorization request includes account information;
determining that the authorization request identifies the combination transaction vehicle by cross-referencing the account information associated with the authorization request against a list of combination transaction vehicles, wherein the combination transaction vehicle is associated with an open-loop account and a closed-loop account;
determining whether to authorize the electronic transaction as an open-loop transaction, a closed-loop transaction, or a combination of the open-loop transaction and the closed-loop transaction, based on (i) association information between the electronic transaction, a merchant, the open-loop account, and the closed-loop account, and (ii) resource information in the open-loop account and the closed-loop account to complete the electronic transaction;
authorizing the electronic transaction as the combination of the open-loop transaction and the closed-loop transaction upon determining the electronic transaction is associated with the closed-loop account with insufficient account balance to cover the electronic transaction, and the open-loop account has sufficient funds to cover an amount of deficiency to complete the electronic transaction; and
causing a partial approval of the electronic transaction as the closed-loop transaction, and a partial approval of the electronic transaction as the open-loop transaction to cover the amount of deficiency in the closed-loop account.
12. The device of claim 11 , wherein the combination transaction vehicle includes an assigned card number that is associated with both of the closed-loop account and the open-loop account.
13. The device of claim 12 , wherein the closed-loop account associated with the assigned card number is affiliated with a closed-loop merchant and the open-loop account associated with the assigned card number is affiliated with a sponsoring network.
14. The device of claim 11 , wherein the authorizing comprises transmitting the authorization to an acquirer over an electronic network.
15. A non-transitory computer readable medium having instructions stored thereon which, when executed by one or more acquirer processors, cause the one or more acquirer processors to perform operations comprising:
receiving an authorization request for an electronic transaction associated with a combination transaction vehicle from a point-of-sale device, wherein the authorization request includes account information;
determining that the authorization request identifies the combination transaction vehicle by cross-referencing the account information associated with the authorization request against a list of combination transaction vehicles, wherein the combination transaction vehicle is associated with an open-loop account and a closed-loop account;
determining whether to authorize the electronic transaction as an open-loop transaction, a closed-loop transaction, or a combination of the open-loop transaction and the closed-loop transaction, based on (i) association information between the electronic transaction, a merchant, the open-loop account, and the closed-loop account, and (ii) resource information in the open-loop account and the closed-loop account to complete the electronic transaction;
authorizing the electronic transaction as the combination of the open-loop transaction and the closed-loop transaction upon determining the electronic transaction is associated with the closed-loop account with insufficient account balance to cover the electronic transaction, and the open-loop account has sufficient funds to cover an amount of deficiency to complete the electronic transaction; and
causing a partial approval of the electronic transaction as the closed-loop transaction, and a partial approval of the electronic transaction as the open-loop transaction to cover the amount of deficiency in the closed-loop account.
16. The non-transitory computer readable medium of claim 15 , wherein the combination transaction vehicle includes an assigned card number that is associated with both of the closed-loop account and the open-loop account.
17. The non-transitory computer readable medium of claim 16 , wherein the closed-loop account associated with the assigned card number is affiliated with a closed-loop merchant and the open-loop account associated with the assigned card number is affiliated with a sponsoring network.
18. The non-transitory computer readable medium of claim 15 , wherein the closed-loop account is a pooled closed-loop account associated with one or more merchants, further comprising:
determining the electronic transaction is associated with at least one of the one or more merchants of the pooled closed-loop account.