Showing papers by "Visa Inc. published in 2005"

Buyer initiated payment

Abstract: Transferring funds from a payment originator (or payor) to a payment beneficiary (or payee) pushes the funds directly to a beneficiary's bank. The beneficiary's bank is not required to actively pull funds into the beneficiary's account. An originator can use a publicly known beneficiary indicator to direct payment to the beneficiary. The publicly known beneficiary indicator can be publicly used without exposing a beneficiary account to unauthorized debits or fraud since it can only be used to make credits to the beneficiary account, e.g. a deposit-only account. A pre-settlement conversation is used between the two banks to verify and evaluate information about an upcoming transfer of funds to determine whether to accept the funds transfer. The messages in the pre-settlement conversation contain information about the transaction.

Method and system for providing assurance and financing services

Abstract: A system (10) for conducting commercial transactions between buyers (12) and sellers (14) is disclosed. The system includes a transaction processing system (10) for facilitating payment for transactions between buyers (12) and sellers (14). In addition to the buyer (12) and the seller (14), the transaction processing system (10) also interacts with issuers and acquirers. The transaction processing system (10) monitors and manages payment information relating to transactions conducted between buyers (12) and sellers (14). Using such information, the transaction processing system (10) further offers a number of additional financing services including, for example, buyer (12) payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.

Method and system for providing seller bank receivable discounting services

Abstract: A system for conducting commercial transactions between buyers and sellers is disclosed. The system includes a transaction processing system for facilitating payment for transactions between buyers and the sellers. In addition to the buyer and the seller, the transaction processing system also interacts with issuers and acquirers. The transaction processing system monitors and manages payment information relating to transactions conducted between buyers and sellers. Using such information, the transaction processing system further offers a number of additional financing services including, for example, buyer payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.

Creating and storing one or more digital certificates assigned to subscriber for efficient access using a chip card

Abstract: A method for creating a digital certificate for a user issued by a reliant party, where the reliant party relies on an established cryptographic infrastructure by a registration or certificate authority is described. The registration authority, typically a large financial or credit institution, has already performed the initial overhead steps necessary for a digital authentication system using a chip card. These steps include minting and distributing the chip card, establishing that the key pair and card are given to the right person, and creating the certificate library. The reliant party leverages this cryptographic infrastructure to issue its own digital certificate and certificate chain to a user already having a chip card from the registration authority. Consequently, a user can have additional digital certificates issued to him without having his chip card modified in any way. All additional digital certificates created for a user are stored at a user-specific memory are in a remote certificate library.

An event based framework for improving information quality that integrates baseline models, causal models and formal reference models

Abstract: We introduce a framework for improving information quality in complex distributed systems that integrates: 1) Analytic models that describe baseline values for attributes and combinations of attributes and components that detect statistically significant changes from baselines. These models determine whether a significant change has occurred, and if so, when. 2) Casual models that help determine why a statistically significant change has occurred and what its impact is. These models focus on the reasons for a change. 3) Formal business and technical reference models so that data and information quality problems are less likely to occur in the future. In this note, we focus on the first two types of models and describe how this framework applies to data quality problems associated with electronic payments transactions and highway traffic patterns.

Method and system for providing buyer bank payable discounting aggregation services

Abstract: A system for conducting commercial transactions between buyers and sellers is disclosed. The system includes a transaction processing system for facilitating payment for transactions between buyers and the sellers. In addition to the buyer and the seller, the transaction processing system also interacts with issuers and acquirers. The transaction processing system monitors and manages payment information relating to transactions conducted between buyers and sellers. Using such information, the transaction processing system further offers a number of additional financing services including, for example, buyer payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.

Method and system for providing buyer bank payable discounting services

Abstract: A system for conducting commercial transactions between buyers and sellers is disclosed. The system includes a transaction processing system for facilitating payment for transactions between buyers and the sellers. In addition to the buyer and the seller, the transaction processing system also interacts with issuers and acquirers. The transaction processing system monitors and manages payment information relating to transactions conducted between buyers and sellers. Using such information, the transaction processing system further offers a number of additional financing services including, for example, buyer payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.

Method and system for providing seller bank receivable discounting aggregation services

Abstract: A system for conducting commercial transactions between buyers and sellers is disclosed. The system includes a transaction processing system for facilitating payment for transactions between buyers and the sellers. In addition to the buyer and the seller, the transaction processing system also interacts with issuers and acquirers. The transaction processing system monitors and manages payment information relating to transactions conducted between buyers and sellers. Using such information, the transaction processing system further offers a number of additional financing services including, for example, buyer payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.