Systems and methods for prepaid card funding for sponsored purchases
A computer-implemented method for prepaid card funding for sponsored purchases includes receiving a payment request for funding a sponsored purchase using a payment vehicle, deducting funds from a financial account associated with the payment vehicle, such that the financial account has a negative balance, and loading additional funds into the financial account associated with the payment vehicle, such that the financial account has a zero balance.
1. A computer-implemented method for prepaid card funding for sponsored purchases, the method comprising:
receiving a payment request for funding a sponsored purchase using a payment vehicle;
approving the payment request based on the payment vehicle meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service; and
deducting funds from a financial account associated with the payment vehicle.
2. The computer-implemented method of claim 1 , further comprising:
forcing an approval of the payment request based on the payment vehicle meeting the predetermined criteria.
3. The computer-implemented method of claim 1 , wherein a sponsor of the sponsored purchase is a transportation company and the sponsored purchase is for fuel.
4. The computer-implemented method of claim 1 , wherein deducting the funds from the financial account associated with the payment vehicle occurs at least two days after receiving the payment request.
5. A computer-implemented method for prepaid card funding for sponsored purchases, the method comprising:
receiving a payment request for funding a sponsored purchase using a payment vehicle;
approving the payment request based on the payment vehicle meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service; and
adding the payment request to a settlement file.
6. The computer-implemented method of claim 5 , further comprising:
forcing an approval of the payment request based on the payment vehicle meeting the predetermined criteria.
7. The computer-implemented method of claim 5 , wherein the payment processor is an issuer of the payment vehicle.
8. The computer-implemented method of claim 5 , wherein the payment processor is an acquirer processor.
9. The computer-implemented method of claim 5 , further comprising:
receiving, from the payment processor, a result file including a processing result for the payment request.
10. The computer-implemented method of claim 5 , wherein the sponsor of the sponsored purchase is a transportation company and the sponsored purchase is for fuel.
11. The computer-implemented method of claim 5 , wherein the sponsor of the sponsored purchase is a motor vehicle manufacturing company and the sponsored purchase is for fuel.
12. The computer-implemented method of claim 11 , wherein the fuel is hydrogen or compressed natural gas.
13. A non-transitory machine-readable medium storing instructions that, when executed by a computing system, causes the computing system to perform a method for method for prepaid card funding for sponsored purchases, the method including:
receiving a payment request for funding a sponsored purchase using a payment vehicle;
approving the payment request based on the payment vehicle meeting predetermined criteria including one or more of the sponsored purchase being at a certain type of merchant identified by a merchant category code (MCC), at a particular merchant identified by a merchant identifier (MID), within a geofence radiating a predetermined radius from a desired location, at a location along a particular route from a starting point and a destination, within a predetermined window of time, or for a particular product or service; and
adding the payment request to a settlement file.
14. The non-transitory machine-readable medium of claim 13 , the method further comprising:
forcing an approval of the payment request based on the payment vehicle meeting the predetermined criteria.
15. The non-transitory machine-readable medium of claim 13 , wherein the payment processor is an issuer of the payment vehicle.
16. The non-transitory machine-readable medium of claim 13 , wherein the payment processor is an acquirer processor.
17. The non-transitory machine-readable medium of claim 13 , the method further comprising:
receiving, from the payment processor, a result file including a processing result for the payment request.
18. The non-transitory machine-readable medium of claim 13 , wherein the sponsor of the sponsored purchase is a transportation company and the sponsored purchase is for fuel.
19. The non-transitory machine-readable medium of claim 13 , wherein the sponsor of the sponsored purchase is a motor vehicle manufacturing company and the sponsored purchase is for fuel.
20. The non-transitory machine-readable medium of claim 13 , wherein the fuel is hydrogen or compressed natural gas.