Linking a merchant account with a financial card

Details Linking a merchant account with a financial card Linking a merchant account with a financial card

G - Physics

06

Q

G06Q 20/00 (2006.01) G07F 7/08 (2006.01)

Patent

CA 2456938

Systems and methods for linking a merchant card with a merchant account. A financial institution that issues the merchant card to a merchant acts as both issuer and acquirer for the merchant. The merchant uses the merchant card to accept other financial cards as payment. Funds due the merchant are added to an available balance of the merchant card rather than depositing the funds in a settlement account. The funds can be added to the available balance before the transactions settle and can be accessed by the merchant. The financial institution also authorizes transactions when the merchant uses the merchant card as a regular cardholder to make payment. The merchant name can be changed on a per transaction basis if desired.

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