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1. (WO2017156204) METHOD AND SYSTEM FOR POINT TO POINT TRANSACTION PROCESSING

Pub. No.:    WO/2017/156204    International Application No.:    PCT/US2017/021473
Publication Date: Fri Sep 15 01:59:59 CEST 2017 International Filing Date: Fri Mar 10 00:59:59 CET 2017
IPC: G06Q 20/02
G06Q 20/10
Applicants: MASTERCARD INTERNATIONAL INCORPORATED
Inventors: MATTINGLY, Timothy, Warren
MEHTA, Saurabh
RETHORN, Mike
Title: METHOD AND SYSTEM FOR POINT TO POINT TRANSACTION PROCESSING
Abstract:
A method for processing a point to point payment transaction includes: receiving a first transaction message related to a payment transaction including a transaction amount, primary account number, and recipient account number; generating a second transaction message related to the payment transaction including a payment amount based on the transaction amount; transmitting the second transaction message to a first financial institution associated with the primary account, number; determining receipt of a currency amount equivalent to the payment amount from the first financial institution; generating a third transaction message related to the payment transaction including the recipient account, number and a settlement amount based on the transaction amount; and transmitting the third transaction message to a second financial, institution associated with the recipient account number.