Inventors:
W. Jeffrey Knowles - Provo UT, US
Russell Hales Day - Provo UT, US
David J. Matthews - Lindon UT, US
Jeffrey R. Burke - Orem UT, US
Scott E. Wessman - Provo UT, US
A. Carlo Okowitz - Orem UT, US
Joseph B. Emig - Orem UT, US
International Classification:
G06Q 40/00
Abstract:
A transaction process system () provides for data transactions between parties. In a credit card transaction, the parties are the merchant (), acquiring bank (), card association (), issuing bank (), and cardholder (). A transaction processing center () is positioned between the acquiring bank and the card association. The transaction processing center provides data processing channels for message-based processing () and filed-based processing (). The file-based processing uses an incoming queue () and outgoing queue () to simplify the interface. The transaction processing center also provides for currency conversions and account reconciliation on a per transaction basis. The transaction processing center uses a scheduler () to efficiently manage the data processing resources.