Systems and methods for automated integration between payment facilitators and submerchants

Abstract

Systems and methods are disclosed for automated integration between payment facilitators and submerchants. One method includes receiving and storing an identifier and financial information of a payment facilitator, registering the payment facilitator as a user of a user interface, receiving a command from the payment facilitator, the command being one of: register a legal entity or a submerchant, wherein the registering associates the legal entity or the submerchant with the payment facilitator, validates financial and identifying information pertaining to the legal entity or the submerchant, and is based on an acceptance after a background check of the legal entity or the submerchant, view or edit details of the legal entity or the submerchant, perform a search of legal entities or submerchants associated with the payment facilitator, using one or more search criteria, and add, view, edit, and assign fee profiles.

1 - 20 . (canceled) 
     
     
         21 . A computer-implemented method for automated integration of online transaction between a payment facilitator and a plurality of submerchants, the method comprising:
 receiving transaction information for a plurality of transactions over a pre-determined time period from a point-of-sale (POS) device operated by one of the plurality of submerchants, wherein the POS device includes a contactless reader configured to interact with payment vehicles of users that transact with the one of the plurality of submerchants;   receiving financial and identifying information of the payment facilitator to register the payment facilitator as a user of a user interface;   receiving, via the user interface, a command from the payment facilitator to register the plurality of submerchants, wherein the registration associates the plurality of submerchants with the payment facilitator; and   analyzing the transaction information to generate predictive analytics data relating to transaction patterns of the plurality of submerchants for presentation in the user interface of the payment facilitator.   
     
     
         22 . The computer-implemented method of  claim 21 , wherein registration of the plurality of submerchants comprises iterative steps of:
 validating, via one or more processors, financial and identifying information of the plurality of submerchants stored in one or more data fields by determining whether the one or more data fields include invalid or missing data;   upon determining the data fields include the invalid or missing data, notifying the payment facilitator to correct the invalid or missing data;   upon determining the data fields do not include the invalid or missing data, performing background checks on the plurality of submerchants, wherein the background checks result in an acceptance, a decline, or a soft decline of the plurality of submerchants; and   upon determining the submerchant passed the background checks, registering the plurality of submerchants by storing an indication of the acceptance and an association with the payment facilitator.   
     
     
         23 . The computer-implemented method of  claim 22 , further comprising:
 enabling, via the user interface, the payment facilitator to input a selection of a payout method for the plurality of submerchants; and   processing a payout transaction based on the selected payout method between the payment facilitator and the plurality of submerchants, wherein the selected payout method includes a payment facilitator-funded payout, a managed payout, a dynamic payout, or a combination thereof.   
     
     
         24 . The computer-implemented method of  claim 23 , wherein the managed payout, further comprising:
 adding, viewing, editing, and assigning one or more fee profiles to the plurality of submerchants;   onboarding the plurality of submerchants and assigning, via the user interface, the fee profiles to the plurality of submerchants;   processing the transaction information between the plurality of submerchants and the payment facilitator, wherein the one or more transactions are processed in batches or periodically; and   causing a reconciliation based, at least in part, on the processing of the transaction information, wherein the reconciliation includes notifying the payment facilitator on calculation of funds, and transmitting instructions by the payment facilitator to distribute the funds.   
     
     
         25 . The computer-implemented method of  claim 21 , further comprising,
 determining, by querying a memory, a registered submerchant that shares a common financial or common identifying information with at least one of the plurality of submerchants having a pending state of registration; and   registering the at least one of the plurality of submerchants having the pending state of registration by indicating the registration in a data structure of the memory.   
     
     
         26 . The computer-implemented method of  claim 21 , wherein the predictive analytics data includes a summary and result of a background check of the plurality of submerchants, a reconciliation report between the payment facilitator and the plurality of submerchants, a transaction summary report, an activity report, a settlement report, a chargeback financial report, a chargeback status report, a fraud alert report, or a combination thereof. 
     
     
         27 . The computer-implemented method of  claim 21 , further comprising:
 applying a plurality of filters to the transaction information based on one or more filtering rules to approve or decline a transaction, wherein the plurality of filters includes an international BIN filter, a prior chargeback filter, a security code no-match filter, a card velocity filter, a prior fraud advice filter, an address verification system (AVS) filter, an email velocity filter, a phone velocity filter, an IP velocity filter, or a device velocity filter.   
     
     
         28 . The computer-implemented method of  claim 21 , further comprising:
 receiving collective transaction information from the payment facilitator on transactions incurred by the plurality of submerchants over a pre-determined duration of time; and   displaying the collective transaction information on the user interface.   
     
     
         29 . The computer-implemented method of  claim 21 , wherein the user interface is an extensible markup language (XML) based application programming interface that retrieve, in near real-time, information about existing submerchants. 
     
     
         30 . The computer-implemented method of  claim 21 , further comprising:
 tokenizing the transaction information for the plurality of transactions; and   encrypting the tokenized transaction information.   
     
     
         31 . A system for automated integration of online transaction between a payment facilitator and a plurality of submerchants, the system comprising:
 at least one non-transitory memory configured to store computer program code instructions; and   at least one processor of an integration system configured to execute the computer program code instructions to perform a method including:
 receiving transaction information for a plurality of transactions over a pre-determined time period from a point-of-sale (POS) device operated by one of the plurality of submerchants, wherein the POS device includes a contactless reader configured to interact with payment vehicles of users that transact with the one of the plurality of submerchants; 
 receiving financial and identifying information of the payment facilitator to register the payment facilitator as a user of a user interface; 
 receiving, via the user interface, a command from the payment facilitator to register the plurality of submerchants, wherein the registration associates the plurality of submerchants with the payment facilitator; and 
 analyzing the transaction information to generate predictive analytics data relating to transaction patterns of the plurality of submerchants for presentation in the user interface of the payment facilitator. 
   
     
     
         32 . The system of  claim 31 , wherein registration of the plurality of submerchants comprises iterative steps of:
 validating, via one or more processors, financial and identifying information of the plurality of submerchants stored in one or more data fields by determining whether the one or more data fields include invalid or missing data;   upon determining the data fields include the invalid or missing data, notifying the payment facilitator to correct the invalid or missing data;   upon determining the data fields do not include the invalid or missing data, performing background checks on the plurality of submerchants, wherein the background checks result in an acceptance, a decline, or a soft decline of the plurality of submerchants; and   upon determining the submerchant passed the background checks, registering the plurality of submerchants by storing an indication of the acceptance and an association with the payment facilitator.   
     
     
         33 . The system of  claim 32 , further comprising:
 enabling, via the user interface, the payment facilitator to input a selection of a payout method for the plurality of submerchants; and   processing a payout transaction based on the selected payout method between the payment facilitator and the plurality of submerchants, wherein the selected payout method includes a payment facilitator-funded payout, a managed payout, a dynamic payout, or a combination thereof.   
     
     
         34 . The system of  claim 33 , wherein the managed payout, further comprising:
 adding, viewing, editing, and assigning one or more fee profiles to the plurality of submerchants;   onboarding the plurality of submerchants and assigning, via the user interface, the fee profiles to the plurality of submerchants;   processing the transaction information between the plurality of submerchants and the payment facilitator, wherein the one or more transactions are processed in batches or periodically; and   causing a reconciliation based, at least in part, on the processing of the transaction information, wherein the reconciliation includes notifying the payment facilitator on calculation of funds, and transmitting instructions by the payment facilitator to distribute the funds.   
     
     
         35 . The system of  claim 31 , further comprising,
 determining, by querying a memory, a registered submerchant that shares a common financial or common identifying information with at least one of the plurality of submerchants having a pending state of registration; and   registering the at least one of the plurality of submerchants having the pending state of registration by indicating the registration in a data structure of the memory.   
     
     
         36 . The system of  claim 31 , wherein the predictive analytics data includes a summary and result of a background check of the plurality of submerchants, a reconciliation report between the payment facilitator and the plurality of submerchants, a transaction summary report, an activity report, a settlement report, a chargeback financial report, a chargeback status report, a fraud alert report, or a combination thereof. 
     
     
         37 . The system of  claim 31 , further comprising:
 applying a plurality of filters to the transaction information based on one or more filtering rules to approve or decline a transaction, wherein the plurality of filters includes an international BIN filter, a prior chargeback filter, a security code no-match filter, a card velocity filter, a prior fraud advice filter, an address verification system (AVS) filter, an email velocity filter, a phone velocity filter, an IP velocity filter, or a device velocity filter.   
     
     
         38 . A non-transitory machine-readable medium storing instructions that, when executed by a server, enables the server to perform a method for automated integration of online transaction between a payment facilitator and a plurality of submerchants, the method comprising:
 receiving transaction information for a plurality of transactions over a pre-determined time period from a point-of-sale (POS) device operated by one of the plurality of submerchants, wherein the POS device includes a contactless reader configured to interact with payment vehicles of users that transact with the one of the plurality of submerchants;   receiving financial and identifying information of the payment facilitator to register the payment facilitator as a user of a user interface;   receiving, via the user interface, a command from the payment facilitator to register the plurality of submerchants, wherein the registration associates the plurality of submerchants with the payment facilitator; and   analyzing the transaction information to generate predictive analytics data relating to transaction patterns of the plurality of submerchants for presentation in the user interface of the payment facilitator.   
     
     
         39 . The non-transitory machine readable medium of  claim 38 , wherein registration of the plurality of submerchants comprises iterative steps of:
 validating, via one or more processors, financial and identifying information of the plurality of submerchants stored in one or more data fields by determining whether the one or more data fields include invalid or missing data;   upon determining the data fields include the invalid or missing data, notifying the payment facilitator to correct the invalid or missing data;   upon determining the data fields do not include the invalid or missing data, performing background checks on the plurality of submerchants, wherein the background checks result in an acceptance, a decline, or a soft decline of the plurality of submerchants; and   upon determining the submerchant passed the background checks, registering the plurality of submerchants by storing an indication of the acceptance and an association with the payment facilitator.   
     
     
         40 . The non-transitory machine readable medium of  claim 39 , further comprising:
 enabling, via the user interface, the payment facilitator to input a selection of a payout method for the plurality of submerchants; and   processing a payout transaction based on the selected payout method between the payment facilitator and the plurality of submerchants, wherein the selected payout method includes a payment facilitator-funded payout, a managed payout, a dynamic payout, or a combination thereof.