Systems and methods for managing electronic transactions

Abstract

Methods and systems are presented for providing comprehensive payment transaction services through a digital wallet. The digital wallet enables a user to conduct an electronic transaction with a merchant or another user. In one aspect, the digital wallet may modify a payment arrangement of the electronic transaction. For example, the digital wallet may determine a first payment arrangement that specifies one or more financial instruments and a payment deferral time period for the electronic transaction. Subsequent to processing the electronic transaction, the digital wallet may determine a different, second payment arrangement for the electronic transaction. The digital wallet may modify the electronic transaction based on the second payment arrangement without canceling the electronic transaction. In another aspect, the digital wallet may manage rewards by dynamically withholding rewards, releasing the rewards, and/or distributing at least portions of the rewards to different users.

What is claimed is: 
     
         1 . A system, comprising:
 a non-transitory memory; and   one or more hardware processors coupled with the non-transitory memory and configured to read instructions from the non-transitory memory to cause the system to perform operations comprising:
 processing an electronic transaction using a first payment arrangement corresponding to a digital wallet of a user, wherein the digital wallet is associated with a plurality of financial instruments, and wherein the first payment arrangement specifies a first set of financial instruments, selected from the plurality of financial instruments, for use in the electronic transaction; 
 subsequent to processing the electronic transaction, determining a second payment arrangement for a subsequent processing of the electronic transaction, wherein the second payment arrangement specifies a second set of financial instruments selected from the plurality of financial instruments, and wherein the second set of financial instruments is different from the first set of financial instruments; 
 re-processing the electronic transaction using the second payment arrangement through a series of commands transmitted within a payment network; and 
 transmitting, to a user device associated with the user, a notification indicating a completion of the electronic transaction using the second payment arrangement. 
   
     
     
         2 . The system of  claim 1 , wherein the re-processing of the electronic transaction is performed without canceling the electronic transaction. 
     
     
         3 . The system of  claim 1 , wherein the first payment arrangement further specifies a first payment deferral time period, and wherein the second payment arrangement further specifies a second payment deferral time period different from the first payment deferral time period. 
     
     
         4 . The system of  claim 3 , wherein the operations further comprise:
 determining a set of expected future expenses associated with the first digital wallet; and   determining the second payment deferral time period for the second payment arrangement based on the set of expected future expenses.   
     
     
         5 . The system of  claim 3 , wherein the operations further comprise:
 determining a set of anticipated incoming funds associated with the first digital wallet; and   determining the second payment deferral time period for the second payment arrangement based on the set of anticipated incoming funds.   
     
     
         6 . The system of  claim 1 , wherein the operations further comprise:
 determining that a balance associated with a first financial instrument in the first set of financial instruments has exceeded a threshold; and   determining the second set of financial instruments for the second payment arrangement based on the determining that the balance associated with the first financial instrument has exceeded the threshold.   
     
     
         7 . The system of  claim 1 , wherein the user is a first user, and wherein the operations further comprise:
 determining that a first user device associated with the first user is within a distance threshold from a second user device associated with a second user when a request for processing the electronic transaction is received; and   processing a fund transfer transaction in association with the electronic transaction based on the determining that the second user device is within the distance threshold from the first user device when the request for processing the electronic transaction is received.   
     
     
         8 . The system of  claim 1 , wherein the second payment arrangement includes a payment installment plan. 
     
     
         9 . The system of  claim 8 , wherein the operations further comprise:
 determining an expected future expense for the first user account, wherein the payment installment plan is determined based on the expected future expense.   
     
     
         10 . A method comprising:
 determining, by one or more hardware processors, that a first digital wallet associated with a first user has received a reward based on an electronic transaction processed through the first digital wallet;   determining, by the one or more hardware processors, that a portion of an amount associated with the electronic transaction has been allocated to a second digital wallet associated with a second user;   in response to determining that the portion of the amount has been allocated to the second digital wallet, causing, by the one or more hardware processors, an access to a portion of the reward from the first digital wallet to be restricted;   determining, by the one or more hardware processors, that the first digital wallet has received the portion of the amount from the second digital wallet; and   in response to determining that the first digital wallet has received the portion of the amount from the second digital wallet, releasing, by the one or more hardware processors, the portion of the reward for use by the first digital wallet.   
     
     
         11 . The method of  claim 10 , further comprising:
 receiving a bill splitting request for the electronic transaction;   determining a plurality of digital wallets comprising the first digital wallet and the second digital wallet for splitting the electronic transaction;   processing the electronic transaction through the first digital wallet; and   initiating a fund transfer transaction for transferring the portion of the amount from the second digital wallet to the first digital wallet.   
     
     
         12 . The method of  claim 10 , further comprising transferring the portion of the reward from the first digital wallet to the second digital wallet. 
     
     
         13 . The method of  claim 10 , further comprising:
 receiving a request for processing a second electronic transaction based on the reward through the first digital wallet; and   determining that a first device associated with the first digital wallet is within a distance threshold of a second device associated with the second digital wallet, wherein the portion of the reward is released for use in response to determining that the first device is within the distance threshold of the second device.   
     
     
         14 . The method of  claim 13 , further comprising:
 processing the second transaction using the reward based on the releasing of the reward for use by the first digital wallet.   
     
     
         15 . A non-transitory machine-readable medium having stored thereon machine-readable instructions executable to cause a machine to perform operations comprising:
 processing an electronic transaction using a first payment arrangement corresponding to a digital wallet of a user, wherein the digital wallet is associated with a plurality of financial instruments, and wherein the first payment arrangement specifies a first set of financial instruments, selected from the plurality of financial instruments, for use in the electronic payment transaction;   subsequent to processing the electronic payment transaction, determining a second payment arrangement for a subsequent processing of the electronic transaction, wherein the second payment arrangement specifies a second set of financial instruments selected from the plurality of financial instruments, and wherein the second set of financial instruments is different from the first set of financial instruments;   modifying the electronic transaction based on the second payment arrangement through a series of commands transmitted within a payment network, wherein the modifying is performed without notifying a payee of the electronic transaction; and   transmitting, to a user device associated with the user, a notification indicating a completion of the electronic transaction using the second payment arrangement.   
     
     
         16 . The non-transitory machine-readable medium of  claim 15 , wherein the second payment arrangement is determined based on a transaction history associated with the first digital wallet. 
     
     
         17 . The non-transitory machine-readable medium of  claim 15 , wherein the electronic transaction is a first electronic transaction, and wherein the operations further comprise:
 determining a second electronic transaction conducted through the digital wallet of the user;   generating a payment group comprising the first and second electronic transactions;   determining a third payment arrangement for the payment group; and   modifying the first and second payment transactions based on the third payment arrangement.   
     
     
         18 . The non-transitory machine-readable medium of  claim 15 , wherein the third payment arrangement specifies a payment installment plan that divides a total amount associated with the first and second electronic transactions into a plurality of payments. 
     
     
         19 . The non-transitory machine-readable medium of  claim 15 , wherein the modifying the electronic transaction is performed without canceling the electronic transaction. 
     
     
         20 . The non-transitory machine-readable medium of  claim 15 , wherein the first payment arrangement further specifies a first payment deferral time period, and wherein the second payment arrangement further specifies a second payment deferral time period different from the first payment deferral time period.