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Systems and methods for transaction-specific rewards negotiation

Abstract:

A method of providing rewards-based payment method selection, the method including: storing payment account numbers (PANs) associated with a tokenized financial account number (FAN), each PAN being associated with a purchase-based rewards program; receiving user rewards preferences; receiving, from a merchant POS terminal, a primary transaction authorization request; generating, based on the primary transaction authorization request and the FAN, a plurality of provisional transaction authorization requests corresponding to one of the PANs; transmitting, to one or more payment authorization servers, the plurality of provisional transaction authorization requests; receiving a plurality of provisional transaction authorizations corresponding to one of the PANs and including a respective rewards bid; selecting, based on the user rewards preferences and the respective rewards bids, a preferred PAN corresponding to a provisional transaction authorization; and transmitting, to the merchant POS terminal and based on the preferred PAN, a transaction authorization message to authorize the attempted transaction.