System and method of payment of merchants on behalf of payment card system transaction acquirers

Abstract

Methods and systems for handling a payment card account system transaction. In an embodiment, a merchant payment services computer receives merchant bank account details for at least one merchant supported by an acquirer financial institution and stores the merchant bank account details in a storage device. The process also includes the merchant payment services computer receiving, from a card payment network computer, card account transaction information for a merchant over a predetermined period of time; calculating, based on the card account transaction information, a net position for the merchant; retrieving merchant bank account details of the merchant from the storage device; and initiating an electronic funds transfer (EFT) with an originating payment services provider (PSP) computer of an electronic funds transfer system to credit the merchant's deposit account in an amount equal to the merchant's net position.

What is claimed is: 
     
         1 . An integrated merchant payment method comprising:
 receiving, by a merchant payment services computer, merchant bank account details for at least one merchant supported by an acquirer financial institution;   storing, by the merchant payment services computer, the merchant bank account details in a storage device;   receiving, by the merchant payment services computer from a card payment network computer, card account transaction information for a merchant over a predetermined period of time;   calculating, by the merchant services computer based on the card account transaction information, a net position for the merchant;   retrieving, by the merchant services computer from the storage device, merchant bank account details of the merchant including the merchant's deposit account; and   initiating, by the merchant payment services computer, an electronic funds transfer (EFT) with an originating payment services provider (PSP) computer of an electronic funds transfer system to credit the merchant's deposit account in an amount equal to the merchant's net position.   
     
     
         2 . The method of  claim 1  wherein receiving merchant bank account details comprises receiving, from an acquirer computer, a batch file containing merchant bank account details for a plurality of merchants. 
     
     
         3 . The method of  claim 1  wherein receiving the merchant bank account details comprises receiving, by the merchant payment services computer from an acquirer computer, merchant bank account details via a direct API. 
     
     
         4 . The method of  claim 1  wherein receiving the merchant bank account details comprises receiving, by the merchant services computer, the merchant bank account details directly from one of a merchant self-service portal or an acquirer support personnel portal. 
     
     
         5 . The method of  claim 1  further comprising, after receiving the card account transaction information for the merchant:
 applying, by the merchant payment services computer, a merchant discount rate (MDR) to the card account transaction information; and 
 calculating, by the merchant services computer after application of the MDR, the merchant's net position. 
 
     
     
         6 . The method of  claim 5  wherein calculating the merchant's net position further comprises including an amount equal to current charge-back transactions. 
     
     
         7 . The method of  claim 1  further comprising:
 determining, by the merchant payment services computer from the net position of the merchant, that the merchant owes money to the acquirer financial institution; 
 transmitting, by the merchant payment services computer to a merchant device, a message indicating a negative balance vis a vis the acquirer financial institution; 
 receiving, by the merchant payment services computer from the merchant device, a request to transfer funds to the acquirer financial institution in an amount to satisfy the negative balance; and 
 initiating, by the merchant payment services computer, an EFT with the originating PSP computer of the electronic funds transfer system to credit an acquirer account of the acquirer financial institution in the amount to satisfy the negative balance. 
 
     
     
         8 . The method of  claim 1  wherein the EFT is an automated clearing house (ACH) system. 
     
     
         9 . An integrated payment card system comprising:
 a merchant payment services computer comprising a processor operably connected to a communication device and to a storage device;   a payment card network computer operably connected to the merchant payment services computer; and   an electronic funds transfer (EFT) system comprising an originating payment services provider (PSP) computer operably connected to the merchant payment services computer;   wherein the storage device of the merchant payment services computer stores processor executable instructions which when executed cause the processor of the merchant payment services computer to:
 receive merchant bank account details for at least one merchant supported by an acquirer financial institution; 
 store the merchant bank account details in the storage device; 
 receive, from the payment card network computer, card account transaction information for a merchant over a predetermined period of time; 
 calculate, based on the card account transaction information, the merchant's net position; 
 retrieve merchant bank account details of the merchant including the merchant's deposit account information from the storage device; and 
 initiate an electronic funds transfer with the originating PSP computer of the EFT system to credit the merchant's deposit account based on the merchant deposit account information in an amount equal to the merchant's net position. 
   
     
     
         10 . The integrated payment card system of  claim 9  further comprising an acquirer computer operably connected to the merchant payment services computer, wherein merchant bank account details are received from the acquirer computer in a batch file containing the merchant bank account details for a plurality of merchants. 
     
     
         11 . The integrated payment card system of  claim 9  further comprising an acquirer computer operably connected to the merchant payment services computer, wherein the merchant bank account details are received from the acquirer computer via a direct API. 
     
     
         12 . The integrated payment card system of  claim 9  wherein the merchant bank account details are received directly from one of a merchant self-service portal or an acquirer support personnel portal. 
     
     
         13 . The integrated payment card system of  claim 9  wherein the storage device of the merchant payment services computer stores further processor executable instructions which when executed after the instructions for receiving the card account transaction information for the merchant, cause the processor of the merchant payment services computer to:
 apply a merchant discount rate (MDR) to the card account transaction information; and 
 calculate, after application of the MDR, the merchant's net position. 
 
     
     
         14 . The integrated payment card system of  claim 13 , wherein the instructions for calculating the merchant's net position further comprises processor executable instructions which when executed cause the processor to include an amount equal to current charge-back transactions. 
     
     
         15 . The integrated payment card system of  claim 9  wherein the storage device of the merchant payment services computer stores further processor executable instructions which when executed cause the processor of the merchant payment services computer to:
 determine, based on the net position of the merchant, that the merchant owes money to an acquirer financial institution; 
 transmit a message to a merchant device indicating a negative balance vis a vis the acquirer financial institution; 
 receive, from the merchant device, a request to transfer funds to the acquirer financial institution in an amount to satisfy the negative balance; and 
 initiate an EFT with the originating PSP computer of the electronic funds transfer system to credit an acquirer account of the acquirer financial institution in the amount to satisfy the negative balance. 
 
     
     
         16 . The integrated payment card system of  claim 9  wherein the EFT comprises an automated clearing house (ACH) system.