System and Method For Conversion Of Initial Transaction To Final Transaction

摘要

The invention comprises a system and method for converting initial financial transactions into final financial transactions entailing lower transaction fees or which are otherwise more advantageous. According to one embodiment of the invention, a card not present (CNP) transaction is conducted for a remote consumer buying goods/services. When the consumer later arrives at a point of authentication (POA), the consumer is presented with an opportunity to have the CNP transaction effectively converted to a card present (CP) transaction using the same card instrument or a different card instrument. The merchant benefits because the transaction fees are much reduced for the CP transaction compared to the CNP transaction. The consumer may benefit from rewards/rebates or other inducements to authorizing the subsequent transaction. One preferred embodiment implements the invention in the airlines environment, wherein tickets ordered over the phone or on-line using a first CNP transaction are converted to a CP transaction when the consumer swipes his/her card at an airport kiosk card reader device.

主权项

1. A computer-implemented method for converting an initial financial transaction to a final financial transaction, the method comprising:
receiving, from a mobile computing device, information of a first card instrument associated with a cardholder; generating a card-not-present (CNP) payment transaction based on said received information of said first card instrument; receiving card data read by a point of authentication (POA) device from the first card instrument or a second card instrument associated with said cardholder; and converting, by at least one computer processor, said CNP payment transaction to a card-present (CP) payment transaction, the CP payment transaction being based at least in part on the card data read by said POA device.