Methods and systems for processing transactions

Abstract

Methods and systems are provided for processing a transaction between a first party and a second party. Information defining terms of the transaction and identifying a presentation instrument are received at a host system. Preference information associated with the presentation instrument is retrieved with the host system. The preference information specifies terms for an allocation of transaction amounts among multiple transaction types. An amount for the transaction is allocated among the transaction types in accordance with terms of the transaction and the terms for the allocation.

1 . (canceled) 
     
     
         2 . A method for a customer to conduct a purchase transaction at a point-of-sale (POS) device, the method comprising:
 receiving, by a computer system, transaction information and an identification of a payment instrument of a customer from a POS device of a merchant, wherein the transaction information corresponds to the purchase transaction;   guaranteeing the purchase transaction at least partially based on a statistical or modeling technique used without first accessing a payment account associated with the payment instrument to determine that a sufficient balance is present to support the purchase transaction;   routing, by the computer system, the purchase transaction, wherein payment of the purchase transaction is guaranteed by an entity operating the computer system; and   transmitting, by the computer system, a transaction authorization that indicates payment of the transaction is guaranteed by an entity operating the computer system.   
     
     
         3 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 2 , wherein:
 the transaction information further comprises authentication information; and   the method further includes authenticating, by the computer system, the customer using the authentication information.   
     
     
         4 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 3 , wherein:
 the authentication information comprises a copy of a signature of the customer; and   authenticating the customer using the authentication information comprises comparing the copy of the signature with a file copy of the signature to verify an identity of the customer.   
     
     
         5 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 2 , wherein:
 the payment instrument comprises a negotiable instrument.   
     
     
         6 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 2 , wherein:
 the payment instrument comprises a check.   
     
     
         7 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 2 , further comprising:
 receiving, by a computer system, enrollment information to register the payment account, wherein the enrollment information comprises authentication information, the authentication information comprising:
 a personal identification number (PIN) selected by the customer; and 
 a telephone number of the customer. 
   
     
     
         8 . The method for a customer to conduct a purchase transaction at a point-of-sale (POS) device of  claim 2 , further comprising:
 receiving an encryption certificate from the POS device; and   authenticating, by the computer system, the customer based at least in part on the encryption certificate.   
     
     
         9 . A computer program product residing on a non-transitory processor-readable medium for a customer to conduct a purchase transaction at a point-of-sale (POS) device, the computer program product comprising processor-readable instructions configured to cause a processor to:
 receive transaction information and an identification of a payment instrument of a customer from a POS device of a merchant, wherein the transaction information corresponds to the purchase transaction;   guarantee the purchase transaction at least partially based on a statistical or modeling technique used without first accessing a payment account associated with the payment instrument to determine that a sufficient balance is present to support the purchase transaction;   route the purchase transaction, wherein payment of the purchase transaction is guaranteed by an entity operating the computer program product; and   transmit a transaction authorization that indicates payment of the transaction is guaranteed by an entity operating the computer program product.   
     
     
         10 . The computer product of  claim 9 , wherein the instructions further cause the processor to:
 detect patterns of behavior that are known to indicate an increased likelihood of fraud.   
     
     
         11 . The computer product of  claim 9 , wherein:
 the transaction information further comprises authentication information, the authentication information comprising one or both of a PIN or a copy of a signature of the customer; and   instructions further cause the processor to authenticate the customer using the authentication information.   
     
     
         12 . The computer product of  claim 11 , wherein:
 authenticating the customer using the authentication information comprises comparing the copy of the signature with a file copy of the signature to verify an identity of the customer.   
     
     
         13 . The computer product of  claim 9 , wherein the instructions further cause the processor to:
 receive an encryption certificate from the POS device; and   authenticate the customer based at least in part on the encryption certificate.   
     
     
         14 . The computer product of  claim 9 , wherein the instructions further cause the processor to:
 receive enrollment information to register the payment account.   
     
     
         15 . The computer product of  claim 9 , wherein:
 the payment instrument comprises a check.   
     
     
         16 . A host computing system, comprising:
 a communications interface;   a processor; and   a memory device having instructions stored thereon that, when executed, cause the processor to:
 receive, using the communications interface, transaction information and an identification of a payment instrument of a customer from a POS device of a merchant, wherein the transaction information corresponds to a purchase transaction; 
 guarantee the purchase transaction at least partially based on a statistical or modeling technique used without first accessing a payment account associated with the payment instrument to determine that a sufficient balance is present to support the purchase transaction; 
 route, using the communications interface, the purchase transaction, wherein payment of the purchase transaction is guaranteed by an entity operating the computer system; and 
 transmit, using the communications interface, a transaction authorization that indicates payment of the transaction is guaranteed by an entity operating the computer system. 
   
     
     
         17 . The host computing system of  claim 16 , wherein:
 the payment instrument comprises a check.   
     
     
         18 . The host computing system of  claim 16 , wherein the instructions further cause the processor to:
 receive enrollment information to register the payment account, wherein the enrollment information comprises authentication information that is usable to verify an identity of the customer.   
     
     
         19 . The host computing system of  claim 18 , wherein:
 the authentication information comprises one or more of a copy of a signature of the customer, a personal identification number (PIN) selected by the customer, or a telephone number of the customer.   
     
     
         20 . The host computing system of  claim 16 , wherein:
 the transaction information further comprises a copy of a signature of the customer; and   the instructions further cause the processor to authenticate the customer by comparing the copy of the signature with a file copy of the signature to verify an identity of the customer.   
     
     
         21 . The host computing system of  claim 16 , wherein:
 receive an encryption certificate from the POS device; and   authenticate the customer based at least in part on the encryption certificate.