Abstract
The present disclosure provides a system and a method for verifying an anticipated amount of a digital financial transaction. The disclosure proposes including a request for an anticipated amount verification (AAV) associated with the transaction, while forwarding a transaction request from a merchant to an issuer via an acquirer and a payment processing platform. Thereafter, the issuer generates an AAV response indicating whether the transaction is eligible for the anticipated amount. Further, the issuer communicates the AAV response to the merchant, via the payment processing platform and the acquirer. Based on the AAV response the merchant determines whether the transaction is eligible for the anticipated amount. Said AAV allows to avoid any potential declining of the transaction by the issuer due to non-sufficient fund (NSF) or any other related issues. Therefore, the present disclosure allows to increase approval rates of transactions authorization by reducing NSFs or any other issues.
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Recommended Citation
Roy, Pinesh and Patterson, Barbara, "ANTICIPATED AMOUNT VERIFICATION", Technical Disclosure Commons, (August 20, 2024)
https://www.tdcommons.org/dpubs_series/7289