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SYSTEMS AND METHODS FOR PAYMENT PROCESSING

Abstract:

Systems and methods are disclosed for processing payments. For example, a method may include: receiving, from a mobile device associated with a user, a code and a request to enable the code to be usable to open a payment channel for receiving payment from an account of the user; receiving, from a merchant system associated with a merchant, a request to use the code to open the payment channel; receiving, from the merchant system, information indicative of a payment to be made to an account of the merchant via the payment channel; receiving, from the mobile device, geolocation information indicative of a geolocation of the mobile device; determining whether there is a location match between the geolocation of the mobile device indicated by the geolocation information and a point of sale location of the merchant; and processing the payment.