SYSTEMS AND METHODS FOR OPTIMIZING TRANSACTION AUTHORIZATION CONVERSION RATE
A method for optimizing transaction authorization conversion rates includes retrieving payment transaction parameters and authorization results for a plurality of past payment transactions, generating authorization success factors for each of a plurality of payment transaction parameters based on the retrieved payment transaction parameters and authorization results, receiving, at an acquirer processor, a payment transaction from a merchant, modifying one or more parameters of the payment transaction according to the generated authorization success factors, and submitting the modified payment transaction to a financial institution for processing.
1 - 20 . (canceled)
21 . A method for optimizing transaction authorization conversion rates, comprising:
receiving a payment transaction from a merchant device;
modifying a billing address, a card verification value (CVV), a payment vehicle expiration date, or a merchant classification code (MCC) of the payment transaction; and
submitting the modified payment transaction to a financial institution for processing.
22 . The method of claim 21 , further comprising:
receiving a payment transaction authorization result for the submitted modified payment transaction; and
adding the received payment transaction authorization result and the parameters of the modified payment transaction to the database of payment transaction processing results.
23 . The method of claim 21 , wherein the modifying comprises modifying based on authorization success factors generated from a database of payment transaction processing results.
24 . The method of claim 23 , wherein the modifying further comprises:
comparing one or more parameters of the payment transaction to generated authorization success factors; and
modifying the one or more parameters of the payment transaction where the generated authorization success factors indicate a greater likelihood of authorization of the payment transaction.
25 . The method of claim 24 , wherein the payment transaction parameters comprise at least one of the billing address, the CVV, a payment processing network, payment vehicle expiration date, a payment vehicle issuer token, or the MCC.
26 . The method of claim 23 , wherein:
a plurality of payment networks are available for submitting the modified payment transaction for processing, and
the authorization success factors indicate a likelihood of authorization of the payment transaction associated with each payment network among the plurality of payment networks.
27 . The method of claim 21 , further comprising:
providing a payment vehicle issuer token.
28 . A device for optimizing transaction authorization conversion rates, comprising:
a memory configured to store instructions; and
one or more processors configured to execute the instructions to perform operations comprising:
receiving a payment transaction from a merchant device;
modifying a billing address, a card verification value (CVV), a payment vehicle expiration date, or a merchant classification code (MCC) of the payment transaction; and
submitting the modified payment transaction to a financial institution for processing.
29 . The device of claim 28 , wherein the operations further comprise:
receiving a payment transaction authorization result for the submitted modified payment transaction; and
adding the received payment transaction authorization result and the parameters of the modified payment transaction to the database of payment transaction processing results.
30 . The device of claim 28 , wherein the modifying comprises modifying based on authorization success factors generated from a database of payment transaction processing results.
31 . The device of claim 30 , wherein the modifying further comprises:
comparing one or more parameters of the payment transaction to generated authorization success factors; and
modifying the one or more parameters of the payment transaction where the generated authorization success factors indicate a greater likelihood of authorization of the payment transaction.
32 . The device of claim 31 , wherein the payment transaction parameters comprise at least one of the billing address, the CVV, a payment processing network, payment vehicle expiration date, a payment vehicle issuer token, or the MCC.
33 . The device of claim 30 , wherein:
a plurality of payment networks are available for submitting the modified payment transaction for processing, and
the authorization success factors indicate a likelihood of authorization of the payment transaction associated with each payment network among the plurality of payment networks.
34 . The device of claim 28 , wherein the operations further comprise:
providing a payment vehicle issuer token.
35 . A non-transitory computer readable medium storing instructions that, when executed by a processor for optimizing transaction authorization conversion rates, cause the processor to perform operations comprising:
receiving a payment transaction from a merchant device;
modifying a billing address, a card verification value (CVV), a payment vehicle expiration date, or a merchant classification code (MCC) of the payment transaction; and
submitting the modified payment transaction to a financial institution for processing.
36 . The non-transitory computer readable medium of claim 35 , wherein the operations further comprise:
receiving a payment transaction authorization result for the submitted modified payment transaction; and
adding the received payment transaction authorization result and the parameters of the modified payment transaction to the database of payment transaction processing results.
37 . The non-transitory computer readable medium of claim 35 , wherein the modifying comprises modifying based on authorization success factors generated from a database of payment transaction processing results.
38 . The non-transitory computer readable medium of claim 37 , wherein the modifying further comprises:
comparing one or more parameters of the payment transaction to generated authorization success factors; and
modifying the one or more parameters of the payment transaction where the generated authorization success factors indicate a greater likelihood of authorization of the payment transaction.
39 . The non-transitory computer readable medium of claim 38 , wherein the payment transaction parameters comprise at least one of the billing address, the CVV, a payment processing network, payment vehicle expiration date, a payment vehicle issuer token, or the MCC.
40 . The non-transitory computer readable medium of claim 37 , wherein:
a plurality of payment networks are available for submitting the modified payment transaction for processing, and
the authorization success factors indicate a likelihood of authorization of the payment transaction associated with each payment network among the plurality of payment networks.