US Patent Issued to Boost Payment Solutions on June 3 for "Electronic payment processing using adjusted interchange rate" (New York Inventors)

ALEXANDRIA, Va., June 4 -- United States Patent no. 12,321,927, issued on June 3, was assigned to Boost Payment Solutions Inc. (New York).

"Electronic payment processing using adjusted interchange rate" was invented by Dean Michael Leavitt (New York) and James Edward Lister (New York).

According to the abstract* released by the U.S. Patent & Trademark Office: "An encrypted payment message is received from a buyer relating to a transaction with a merchant. The payment message is parsed using a first parsing algorithm to obtain merchant identifying information. The merchant identifying information is associated with at least a second parsing algorithm or at least one settlement algorithm. The payment message is parsed using the second parsi...