Systems, methods and apparatus for variable settlement accounts

Abstract

Systems and methods for transferring funds from an acquirer processor account to one or more financial accounts. The transferring of the funds can be directed by one or more settlement rules defined by a merchant.

1 .- 20 . (canceled) 
     
     
         21 . A method comprising:
 receiving, by a device of an acquirer processor and from a merchant computing device of a merchant, information identifying settlement accounts associated with the merchant;   receiving, by the device of the acquirer processor and from the merchant computing device, settlement rules corresponding to the settlement accounts;   receiving, by the device of the acquirer processor, an electronic transfer of funds into a pooled account associated with the merchant; and   transferring, by the device of the acquirer processor, the funds from the pooled account to the settlement accounts, based on the settlement rules.   
     
     
         22 . The method of  claim 21 , further comprising:
 providing, by the device of the acquirer processor, a user interface to the merchant computing device that permits the merchant to define the settlement rules.   
     
     
         23 . The method of  claim 21 , wherein the settlement accounts include different types of settlement accounts. 
     
     
         24 . The method of  claim 21 , wherein the settlement accounts include one or more of checking accounts, savings accounts, pre-paid open-loop accounts, virtual wallet accounts, peer-to-peer accounts, pre-paid closed-loop accounts, investment accounts, loan accounts, money market accounts, or credit union accounts. 
     
     
         25 . The method of  claim 21 , further comprising:
 storing, by the device of the acquirer processor, the settlement rules in a rules database.   
     
     
         26 . The method of  claim 21 , wherein the settlement rules define frequencies of settlement to the settlement accounts, maximum settlement amounts of the settlement accounts, or types of transfers to be used during settlement. 
     
     
         27 . The method of  claim 21 , further comprising:
 retaining, by the device of the acquirer processor, the funds in the pooled account based on an error in funding a particular account of the settlement accounts.   
     
     
         28 . A device of an acquirer processor, the device comprising:
 a memory configured to store instructions; and   a processor configured to execute the instructions to perform operations comprising:   receiving, from a merchant computing device of a merchant, information identifying settlement accounts associated with the merchant;   receiving, from the merchant computing device, settlement rules corresponding to the settlement accounts;   receiving an electronic transfer of funds into a pooled account associated with the merchant; and   transferring the funds from the pooled account to the settlement accounts, based on the settlement rules.   
     
     
         29 . The device of  claim 28 , wherein the operations further comprise:
 providing a user interface to the merchant computing device that permits the merchant to define the settlement rules.   
     
     
         30 . The device of  claim 28 , wherein the settlement accounts include different types of settlement accounts. 
     
     
         31 . The device of  claim 28 , wherein the settlement accounts include one or more of checking accounts, savings accounts, pre-paid open-loop accounts, virtual wallet accounts, peer-to-peer accounts, pre-paid closed-loop accounts, investment accounts, loan accounts, money market accounts, or credit union accounts. 
     
     
         32 . The device of  claim 28 , wherein the operations further comprise:
 storing the settlement rules in a rules database.   
     
     
         33 . The device of  claim 28 , wherein the settlement rules define frequencies of settlement to the settlement accounts, maximum settlement amounts of the settlement accounts, or types of transfers to be used during settlement. 
     
     
         34 . The device of  claim 28 , wherein the operations further comprise:
 retaining the funds in the pooled account based on an error in funding a particular account of the settlement accounts.   
     
     
         35 . A non-transitory computer-readable medium storing instructions that, when executed by a processor of a device of an acquirer processor, cause the processor to perform operations comprising:
 receiving, from a merchant computing device of a merchant, information identifying settlement accounts associated with the merchant;   receiving, from the merchant computing device, settlement rules corresponding to the settlement accounts;   receiving an electronic transfer of funds into a pooled account associated with the merchant; and   transferring the funds from the pooled account to the settlement accounts, based on the settlement rules.   
     
     
         36 . The non-transitory computer-readable medium of  claim 35 , wherein the operations further comprise:
 providing a user interface to the merchant computing device that permits the merchant to define the settlement rules.   
     
     
         37 . The non-transitory computer-readable medium of  claim 35 , wherein the settlement accounts include different types of settlement accounts. 
     
     
         38 . The non-transitory computer-readable medium of  claim 35 , wherein the settlement accounts include one or more of checking accounts, savings accounts, pre-paid open-loop accounts, virtual wallet accounts, peer-to-peer accounts, pre-paid closed-loop accounts, investment accounts, loan accounts, money market accounts, or credit union accounts. 
     
     
         39 . The non-transitory computer-readable medium of  claim 35 , wherein the operations further comprise:
 storing the settlement rules in a rules database.   
     
     
         40 . The non-transitory computer-readable medium of  claim 35 , wherein the operations further comprise:
 retaining the funds in the pooled account based on an error in funding a particular account of the settlement accounts.