Systems and methods for enhanced data routing based on data prioritization
An arbitraged enhanced payment processing system in association with a distributed enhanced payment processing system includes a merchant point of sale (POS) terminal system and a remote payment management system. The POS terminal system initiates a transaction that includes receiving a payment amount, a purchaser account identifier, a virtual electronic payment indicator, and a merchant ID via a payment client. Subsequently, the POS terminal system outputs the transaction to the remote payment management system which generates a token for the transaction. The payment management system then provides the purchaser account identifier, a merchant account identifier, and the payment amount to a payment processing servicer. Upon receiving a payment processing servicer response, the payment management system outputs the response and token to the POS terminal system.
1. A computer-implemented method for electronic transaction processing using a service control directive, the method comprising:
receiving, at an electronic transaction management system, an electronic transaction from a point of sale terminal;
retrieving, by the electronic transaction management system, the service control directive, the service control directive comprising computer-executable code configured to control processing of the electronic transaction and wherein the retrieving comprises:
preparing at least one configuration key for the electronic transaction, wherein the at least one configuration key is utilized to retrieve a recorded configuration that controls a speed at which the electronic transaction is processed;
determining, using the at least one configuration key, that the electronic transaction is associated with one or more recorded configurations;
generating a reconciled configuration to resolve conflicts between the one or more recorded configurations; and
retrieving the service control directive utilizing information associated with the reconciled configuration;
determining, by the electronic transaction management system, a prioritization of the electronic transaction using the service control directive, wherein the determining the prioritization of the electronic transaction comprises identifying whether the prioritization corresponds to a higher-than-base-line priority or a lower-than-base-line priority;
applying, responsive to determining that the prioritization corresponds to the higher-than-base-line priority, a fee to a merchant associated with the point of sale terminal for processing the electronic transaction or applying, responsive to determining that the prioritization corresponds to the lower-than-base-line priority, a discount to the merchant for processing the electronic transaction;
identifying, by the electronic transaction management system, a processing responsibility for the electronic transaction using the service control directive; and
routing, by the electronic transaction management system, the electronic transaction to an electronic transaction processing system of a plurality of electronic transaction processing systems based on the prioritization and the processing responsibility.
2. The computer-implemented method of claim 1 , wherein the determining comprises determining that the prioritization of the electronic transaction corresponds to a lower-than-base-line priority via:
identifying, from the service control directive, that electronic transaction is designated as a discounted transaction.
3. The computer-implemented method of claim 1 , wherein the determining comprises determining that the prioritization of the electronic transaction corresponds to a base-line priority via:
identifying, from the service control directive, that electronic transaction is not designated as a preferred transaction or a discounted transaction.
4. The computer-implemented method of claim 1 , wherein the identifying the processing responsibility comprises ascertaining whether the electronic transaction processing system is a payment processing servicer of the electronic transaction management system or a third party payment processing system.
5. The computer-implemented method of claim 4 , wherein the ascertaining that the electronic transaction processing system is the payment processing servicer of the electronic transaction management system comprises:
identifying, by the electronic transaction management system, that the electronic transaction comprises a virtual electronic payment (VEP) indicator.
6. The computer-implemented method of claim 4 , wherein the ascertaining that the electronic transaction processing system is the payment processing servicer of the electronic transaction management system comprises:
identifying, by the electronic transaction management system, that the electronic transaction does not comprise a virtual electronic payment (VEP) indicator; and
identifying, by the electronic transaction management system, that the electronic transaction can be processed directly.
7. The computer-implemented method of claim 4 , wherein the ascertaining that the electronic transaction processing system is the third party payment processing system comprises:
identifying, by the electronic transaction management system, that the electronic transaction does not comprise a virtual electronic payment (VEP) indicator; and
identifying, by the electronic transaction management system, that the electronic transaction cannot be processed directly.
8. The computer-implemented method of claim 1 , further comprising:
receiving, at the electronic transaction management system, a response from the electronic transaction processing system; and
outputting, by the electronic transaction management system, the response to the point of sale terminal.
9. An electronic transaction management system for electronic transaction processing using a service control directive, the electronic transaction management system comprising:
one or more processors;
a non-transitory computer readable medium storing instructions which, when executed by the one or more processors, cause the one or more processors to perform a method comprising:
receiving, at an electronic transaction management system, an electronic transaction from a point of sale terminal;
retrieving, by the electronic transaction management system, the service control directive, the service control directive comprising computer-executable code configured to control processing of the electronic transaction and wherein the retrieving comprises:
preparing at least one configuration key for the electronic transaction, wherein the at least one configuration key is utilized to retrieve a recorded configuration that controls a speed at which the electronic transaction is processed;
determining, using the at least one configuration key, that the electronic transaction is associated with one or more recorded configurations;
generating a reconciled configuration to resolve conflicts between the one or more recorded configurations; and
retrieving the service control directive utilizing information associated with the reconciled configuration;
determining, by the electronic transaction management system, a prioritization of the electronic transaction using the service control directive, wherein the determining the prioritization of the electronic transaction comprises identifying whether the prioritization corresponds to a higher-than-base-line priority or a lower-than-base-line priority;
applying, responsive to determining that the prioritization corresponds to the higher-than-base-line priority, a fee to a merchant associated with the point of sale terminal for processing the electronic transaction or applying, responsive to determining that the prioritization corresponds to the lower-than-base-line priority, a discount to the merchant for processing the electronic transaction;
identifying, by the electronic transaction management system, a processing responsibility for the electronic transaction using the service control directive; and
routing, by the electronic transaction management system, the electronic transaction to an electronic transaction processing system of a plurality of electronic transaction processing systems based on the prioritization and the processing responsibility.
10. The electronic transaction management system of claim 9 , wherein the prioritization determines timing of routing the electronic transaction to the electronic transaction processing system relative to another electronic transaction.
11. The electronic transaction management system of claim 9 , wherein the determining comprises determining that the prioritization of the electronic transaction corresponds to a base-line priority via:
identifying, from the service control directive, that electronic transaction is not designated as a preferred transaction or a discounted transaction.
12. The electronic transaction management system of claim 9 , wherein the identifying the processing responsibility comprises ascertaining whether the electronic transaction processing system is a payment processing servicer of the electronic transaction management system or a third party payment processing system.
13. The electronic transaction management system of claim 12 , wherein the ascertaining that the electronic transaction processing system is the payment processing servicer of the electronic transaction management system comprises:
identifying, by the electronic transaction management system, that the electronic transaction comprises a virtual electronic payment (VEP) indicator.
14. The electronic transaction management system of claim 12 , wherein the ascertaining that the electronic transaction processing system is the payment processing servicer of the electronic transaction management system comprises:
identifying, by the electronic transaction management system, that the electronic transaction does not comprise a virtual electronic payment (VEP) indicator; and
identifying, by the electronic transaction management system, that the electronic transaction can be processed directly.
15. The electronic transaction management system of claim 12 , wherein the ascertaining that the electronic transaction processing system is the third party payment processing system comprises:
identifying, by the electronic transaction management system, that the electronic transaction does not comprise a virtual electronic payment (VEP) indicator; and
identifying, by the electronic transaction management system, that the electronic transaction cannot be processed directly.
16. A non-transitory computer readable medium storing instructions which, when executed by one or more processors, cause the one or more processors to perform a method comprising:
receiving, at an electronic transaction management system, an electronic transaction from a point of sale terminal;
retrieving, by the electronic transaction management system, the service control directive, the service control directive comprising computer-executable code configured to control processing of the electronic transaction and wherein the retrieving comprises:
preparing at least one configuration key for the electronic transaction, wherein the at least one configuration key is utilized to retrieve a recorded configuration that controls a speed at which the electronic transaction is processed;
determining, using the at least one configuration key, that the electronic transaction is associated with one or more recorded configurations;
generating a reconciled configuration to resolve conflicts between the one or more recorded configurations; and
retrieving the service control directive utilizing information associated with the reconciled configuration;
determining, by the electronic transaction management system, a prioritization of the electronic transaction using the service control directive, wherein the determining the prioritization of the electronic transaction comprises identifying whether the prioritization corresponds to a higher-than-base-line priority or a lower-than-base-line priority;
applying, responsive to determining that the prioritization corresponds to the higher-than-base-line priority, a fee to a merchant associated with the point of sale terminal for processing the electronic transaction or applying, responsive to determining that the prioritization corresponds to the lower-than-base-line priority, a discount to the merchant for processing the electronic transaction;
identifying, by the electronic transaction management system, a processing responsibility for the electronic transaction using the service control directive; and
routing, by the electronic transaction management system, the electronic transaction to an electronic transaction processing system of a plurality of electronic transaction processing systems based on the prioritization and the processing responsibility.