Disclosed is a method of establishing and managing an inter-institution transaction system. The method comprises creating plurality of threads to constitute parallel fund transfer system, wherein each thread is a replica of single fund transfer system, and wherein plurality of threads are to be operated in parallel; assigning plurality of institutions to plurality of threads, wherein a given institution is assigned as a sending institution and/or a receiving institution of a financial transaction to at least one thread, and a given thread has at least one sending institution-receiving institution pair assigned thereto; assigning financial transactions to plurality of threads based at least on sending institution-receiving institution pairs assigned to plurality of threads; and processing financial transactions at their corresponding threads.

An improved financial terminal automatically reconfigures into different financial processing terminal types. In one embodiment, the terminal comprises a housing; a card reader configured to accept at least a portion of a card having an integrated circuit; at least one display; at least one processor; and at least one memory configured to store machine readable code, the machine readable code comprising a first kernel corresponding to a first transaction type and a second kernel corresponding to a second transaction type.

An improved financial terminal automatically reconfigures into different financial processing terminal types. In one embodiment, the terminal comprises a housing; a card reader configured to accept at least a portion of a card having an integrated circuit; at least one display; at least one processor; and at least one memory configured to store machine readable code, the machine readable code comprising a first kernel corresponding to a first transaction type and a second kernel corresponding to a second transaction type.

Embodiments related to systems and methods comprising receiving payment data at an access device; receiving an identifier for a mobile device at the access device; and generating and sending an authorization request message to a payment processing network, wherein the payment processing network generates a verification token, which is then sent to the mobile device whereby the mobile device is thereafter used to conduct payment transactions.

Embodiments related to systems and methods comprising receiving payment data at an access device; receiving an identifier for a mobile device at the access device; and generating and sending an authorization request message to a payment processing network, wherein the payment processing network generates a verification token, which is then sent to the mobile device whereby the mobile device is thereafter used to conduct payment transactions.

It is provided the technology to ensure the execution of proper transactions. One aspect of the present disclosure is an escrow system that includes a group of nodes and a blockchain network that connects each node of the group of nodes. In the escrow system, an escrow node sets, with respect to a transaction relating to a product or a service between a user and a first node, a multi-signature address between the first node and the escrow node in the blockchain network. The first node, in response to a completion notification of payment of a cost relating to the transaction by the user to the escrow node, executes the transaction and transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The escrow node, in response to an execution of the transaction by the first node, transmits a signature and a fulfillment notification of the transaction to the multi-signature address. The first node, in response to the signature and the fulfillment notification of the transaction from the first node and the escrow node to the multi-signature address, receives a payment notification of the cost.

Disclosed herein are system, method, and computer program product embodiments for mobile payment handover for self-service terminals. An embodiment operates by generating handover data configured to instruct a user device to settle an amount due. The embodiment further operates by obtaining an electronic confirmation that the amount due has been settled. Subsequently, the embodiment operates by determining that the amount due has been settled responsive to the electronic confirmation.

Disclosed herein are system, method, and computer program product embodiments for mobile payment handover for self-service terminals. An embodiment operates by generating handover data configured to instruct a user device to settle an amount due. The embodiment further operates by obtaining an electronic confirmation that the amount due has been settled. Subsequently, the embodiment operates by determining that the amount due has been settled responsive to the electronic confirmation.

Systems and methods are provided for use in distributing payment transaction notifications. One exemplary method includes identifying, by a computing device, transaction data for a transaction associated with a child token to a group payment account and identifying, by the computing device, in a data structure, a parent token with which the child token is associated. The parent token is enrolled to receive a notification for the transaction associated with the child token. As such, the method further includes transmitting, by the computing device, a notification to a communication device of a group member associated with the parent token in response to the transaction involving the child token, where the notification includes transaction data associated with the transaction such that the transaction is thereby identified to the group member along with the associated transaction data.

The CLOUD-BASED VIRTUAL WALLET NFC APPARATUSES, METHODS AND SYSTEMS (“EAE”) transform user enhanced security transaction initiation requests using EAE components into time-limited, session-specific transaction bounding tokens. In some implementations, the disclosure provides a processor-implemented method of transforming a transaction bounding token request into transaction bounded tokens and purchase authorizations.