Method and system of providing interoperability between different payment rails
A method for facilitating a payment transaction between incompatible and unconnected payment networks includes: receiving, by a receiver of a processing server, a transaction request from a first computing device, the transaction request including at least a first payment network identifier and a second payment network identifier; identifying, by a processor of the processing server, a first network profile associated with a first payment network based on the first payment network identifier and a second network profile associated with a second payment network based on the second payment network identifier; determining, by the processor of the processing server, one or more incremental data values required for the second payment network based on a comparison of the first network profile with the second network profile; and transmitting, by a transmitter of the processing server, the one or more incremental data values to the first computing device.
1 . A method for facilitating a payment transaction between incompatible and unconnected payment networks, comprising:
storing, in a network database of a processing server, a plurality of network profiles, each network profile being associated with a payment network and including at least a respective payment network identifier;
receiving, by a receiver of a processing server, a transaction request from a first computing device, the transaction request including at least a first payment network identifier associated with a first payment network selected by the first computing device and a second payment network identifier associated with a second payment network selected by a second computing device;
identifying, by a processor of the processing server, in the network database of the processing server, a first network profile, from the plurality of network profiles, that is associated with the first payment network based on the first payment network identifier included in the received transaction request and a second network profile, from the plurality of network profiles, that is associated with the second payment network based on the second payment network identifier;
based on an analysis of information included in the identified first network profile and the second network profile, determining, by the processor of the processing server, one or more incremental data values, wherein the one or more incremental data values include data values that are required by the second payment network that are not required by the first payment network; and
transmitting, by a transmitter of the processing server, the one or more incremental data values to the first computing device.
2 . The method of claim 1 , further comprising:
receiving, by the receiver of the processing server, a payment notification for a first payment transaction processed using the first payment network, wherein the payment notification includes at least a transaction amount and incremental data correspond to the one or more incremental data values; and
initiating, by the transmitter of the processing server, a second payment transaction to a payee using the second payment network, wherein a transaction message for the second payment transaction includes at least a currency amount based on the transaction amount and the incremental data.
3 . The method of claim 2 , wherein
the transaction request includes a transaction account number associated with the payee, and
the transaction message includes the transaction account number.
4 . The method of claim 2 , further comprising:
generating, by the processor of the processing server, the transaction message, wherein the transaction message is formatted according to one or more standards governing the second payment network and includes one or more data fields storing at least the currency amount and the incremental data.
5 . The method of claim 2 , further comprising:
generating, by the processor of the processing server, a unique identifier, wherein
the unique identifier is included in the payment notification, and
the unique identifier is included in the transaction message.
6 . The method of claim 1 , wherein
the first network profile includes a first set of standards governing payment transactions processed using the first payment network,
the second network profile includes a second set of standards governing payment transactions processed using the second payment network, and
the incremental data values are based on one or more differences between the first set of standards and the second set of standards.
7 . The method of claim 1 , further comprising:
transmitting, by the transmitter of the processing server, a notification message regarding the transaction request to a second computing device, wherein the second computing device is identified based on communication data, wherein
the transaction request includes the communication data.
8 . The method of claim 1 , wherein the payment notification is a transaction message for the first payment transaction formatted according to one or more standards governing payment transactions processed using the first payment network.
9 . A system for facilitating a payment transaction between incompatible and unconnected payment networks, comprising:
a first payment network;
a second payment network;
a first computing device; and
a processing server, the processing server including
a network database storing a plurality of network profiles, wherein each network profile is associated with a payment network and includes at least a respective payment network identifier,
a receiver receiving a transaction request from the first computing device, the transaction request including at least a first payment network identifier associated with the first payment network selected by the first computing device and a second payment network identifier associated with the second payment network selected by a second computing device,
a processor
identifying, in the network database of the processing server, a first network profile, from the plurality of network profiles, that is associated with the first payment network based on the first payment network identifier included in the received transaction request and a second network profile, from the plurality of network profiles, that is associated with the second payment network based on the second payment network identifier, and
determining, based on an analysis of information included in the identified first network profile and the second network profile, one or more incremental data values, wherein the one or more incremental data values include data values that are required by the second payment network that are not required by the first payment network, and
a transmitter transmitting the one or more incremental data values to the first computing device.
10 . The system of claim 9 , wherein
the receiver of the processing server further receives a payment notification for a first payment transaction processed using the first payment network, wherein the payment notification includes at least a transaction amount and incremental data correspond to the one or more incremental data values, and
the transmitter of the processing server further initiates a second payment transaction to a payee using the second payment network, wherein a transaction message for the second payment transaction includes at least a currency amount based on the transaction amount and the incremental data.
11 . The system of claim 10 , wherein
the transaction request includes a transaction account number associated with the payee, and
the transaction message includes the transaction account number.
12 . The system of claim 10 , wherein the processor of the processing server further generates the transaction message, wherein the transaction message is formatted according to one or more standards governing the second payment network and includes one or more data fields storing at least the currency amount and the incremental data.
13 . The system of claim 10 , wherein
the processor of the processing server further generates a unique identifier,
the unique identifier is included in the payment notification, and
the unique identifier is included in the transaction message.
14 . The system of claim 9 , wherein
the first network profile includes a first set of standards governing payment transactions processed using the first payment network,
the second network profile includes a second set of standards governing payment transactions processed using the second payment network, and
the incremental data values are based on one or more differences between the first set of standards and the second set of standards.
15 . The system of claim 9 , wherein
the transmitter of the processing server further transmits a notification message regarding the transaction request to a second computing device, wherein the second computing device is identified based on communication data, and
the transaction request includes the communication data.
16 . The system of claim 9 , wherein the payment notification is a transaction message for the first payment transaction formatted according to one or more standards governing payment transactions processed using the first payment network.