View source for 20240054461. SYSTEMS AND METHODS FOR ROUTING ELECTRONIC TRANSACTIONS USING PREDICTED AUTHORIZATION APPROVAL simplified abstract (Worldpay, LLC)

=SYSTEMS AND METHODS FOR ROUTING ELECTRONIC TRANSACTIONS USING PREDICTED AUTHORIZATION APPROVAL=


==Organization Name==

[[:Category:Worldpay, LLC|Worldpay, LLC]]


[[Category:Worldpay, LLC]]

==Inventor(s)==

[[:Category:Dennis A. Kettler of Mason OH (US)|Dennis A. Kettler of Mason OH (US)]][[Category:Dennis A. Kettler of Mason OH (US)]]

[[:Category:Ryan Clapp of Loveland OH (US)|Ryan Clapp of Loveland OH (US)]][[Category:Ryan Clapp of Loveland OH (US)]]

==SYSTEMS AND METHODS FOR ROUTING ELECTRONIC TRANSACTIONS USING PREDICTED AUTHORIZATION APPROVAL - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240054461 titled 'SYSTEMS AND METHODS FOR ROUTING ELECTRONIC TRANSACTIONS USING PREDICTED AUTHORIZATION APPROVAL

==Simplified Explanation==

The abstract describes a method for routing electronic payment transactions based on transaction-related information, identifying eligible payment networks, predicting authorization acceptance likelihood, and selecting a least cost pin-less debit network for signature debit transactions.

* Receiving transaction-related information from a merchant
* Extracting transaction routing criteria from the received information
* Dynamically identifying eligible payment networks based on routing criteria
* Predicting likelihood of authorization acceptance for each network
* Identifying breakeven transaction amounts for each eligible network
* Routing signature debit transactions to a least cost pin-less debit network based on desired breakeven transaction amount

### Potential Applications
* Online payment processing systems
* Point of sale systems
* Mobile payment applications

### Problems Solved
* Efficient routing of electronic payment transactions
* Cost-effective selection of payment networks
* Maximizing authorization acceptance rates

### Benefits
* Cost savings for merchants
* Improved transaction success rates
* Dynamic and optimized payment routing strategies


==Original Abstract Submitted==

a method for routing electronic payment transactions includes receiving transaction-related information from a merchant, extracting transaction routing criteria from the received transaction-related information, dynamically identifying one or more eligible payment networks based on extracted transaction routing criteria, predicting a likelihood of authorization acceptance for each identified network based on the transaction-related information, dynamically identifying one or more breakeven transaction amounts for each identified eligible payment network, each breakeven transaction amount defining a point at which two or more eligible payment networks have the same expenses for a given transaction amount, the expenses including costs associated with a low predicted likelihood of authorization acceptance, and routing signature debit transactions from the merchant to a least cost pin-less debit network selected from the eligible payment networks based on identification of a desired breakeven transaction amount for the pin-less debit network.



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