Mastercard Incorporated
ELECTRONIC METHODS AND SYSTEMS FOR PROCESSING A DECLINED FINANCIAL TRANSACTION

Abstract:

Embodiments provide methods, and server systems for processing a declined transaction. A method includes receiving, by a server system associated with a payment network, a declined transaction notification signal about an identification of an authentication credential of a payment card provided by a user for initiating a transaction in a transaction capturing device as incorrect. The method includes verifying if the user has opted for a dual authentication service facilitating re-authentication of the declined transaction via an application. If yes, the method includes sending a user approval notification signal to a user device via the application. The method includes receiving, the user approval of providing the incorrect authentication credential. The method includes electronically facilitating re-authentication of the transaction via the application by requesting the user to provide a re-authentication credential. The method includes electronically facilitating a completion of the declined transaction based on verification of the re-authentication credential.