This invention relates generally to processing transactions associated with financial transaction card accounts and, more particularly, to network-based methods and systems for processing financial transactions using a co-brand payment card through a multi-party payment card interchange and communicating enhanced transaction data between a merchant and an issuer of the co-brand payment card.
At least some known merchants accept payment for goods and services using more than one type of financial transaction card systems. One type may be a multi-party transaction system where transactions are processed through a multi-party transaction system interchange. Another type may be a private label transaction system where merchants are directly communicatively coupled to a payment card issuer for transaction processing. Still another type may be a co-brand proprietary transaction system. For example, some merchants accept Visa®, MasterCard®, Discover®, and/or American Express® financial transaction cards. Some merchants also accept a private label financial transaction card, such as a Macy's®, Home Depot®, or other retail merchant card. Generally private label transaction systems are closed to transaction data being transmitted on the private label transaction systems that is not associated with a private label transaction. As such, less identification of the merchants and transaction information is required.
Most closed-loop, private label transaction systems are set up such that a merchant is able to communicate transaction data directly with the issuer of the private label card. Accordingly, in some known closed-loop, private label transaction systems, the merchant is able to communicate certain additional transaction data with the private label issuer as compared to a third-party interchange payment system. Of course, in order to communicate this additional transaction data, the computer systems and computer protocols used by the merchant and the private label issuer in the closed-loop system must be configured to exchange this additional data. Configuring these computer systems to communicate this additional data can be costly and time consuming.
Accordingly, it would be beneficial to be able to communicate enhanced transaction data between a merchant and a transaction card issuer over a known computer network such as an interchange network. Such a system would allow card issuers to provide special services and detailed information for transactions initiated by a cardholder using a co-brand proprietary transaction card at a participating merchant without having to incur the time and expense associated with providing a closed-loop, private label system.
USPTO Backgrounds
USPTO Backgrounds