At each of a plurality of point of sale terminals (POS) of a merchant, for each of a plurality of consumers, where each consumer seeks to conduct a transaction with the merchant for a good or service at a cost by using a payment device issued by an issuer in a payment system, data is read from a pay
At each of a plurality of point of sale terminals (POS) of a merchant, for each of a plurality of consumers, where each consumer seeks to conduct a transaction with the merchant for a good or service at a cost by using a payment device issued by an issuer in a payment system, data is read from a payment device. The data can include an identifier for an account issued by an issuer. Information is stored for each transaction and the consumer is permitted to receive the good or service from the merchant. After the consumer has received the good or service, a batch of the transaction are processed to derive there from the respective costs that are assessable to the respective accounts, where the merchant can be a transit system, the consumer a rider thereon, and the transaction can be access to a facility thereof.
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1. A method comprising: receiving, by a first transit point of service terminal, data from a first payment device issued by a financial institution in a first interaction, wherein the first payment device is a financial institution portable payment device (FIPPD), the data including financial instit
1. A method comprising: receiving, by a first transit point of service terminal, data from a first payment device issued by a financial institution in a first interaction, wherein the first payment device is a financial institution portable payment device (FIPPD), the data including financial institution account information identifying the first payment device, the financial institution account information issued by the financial institution;receiving at a transit computer apparatus, from the first transit point of service (POS) terminal, the financial institution account information and entrance transit information associated with the first interaction between the first payment device and the first transit POS terminal wherein the financial institution account information is received from a storage region of the FIPPD, wherein: the entrance transit information comprises one or more of first time of day information or location information of the first transit point of service terminal;the first interaction is associated with a first transit transaction;the first payment device is associated with a financial institution;the first payment device is capable of conducting a retail transaction in addition to a transit transaction; andthe entrance transit information associated with the first interaction is not written to the first payment device after the first interaction;upon receiving the financial institution account information from the storage region of the FIPPD, and determining that FIPPD is on a white list of a transit agency, allowing, by the first transit point of service terminal, a user of the first payment device to access a transit facility prior to determining a fare value for the first transit transaction according to rider transaction history data stored in the storage region of the FIPPD;storing at the transit computer apparatus the entrance transit information associated with the first interaction;receiving, by a second transit point of service terminal, the data from the first payment device in a second interaction;receiving at the transit computer apparatus, from the second transit POS terminal, the financial institution account information and exit transit information associated with the second interaction between the first payment device and the second transit POS terminal, wherein the exit transit information comprises one or more of a second time of day information or location information of the second point of service terminal;determining, by the transit computer apparatus, the fare value associated with the first transit transaction based on the entrance transit information and the exit transit information associated with the first and the second interaction and transit agency rules and policies; andsending, by the transit computer apparatus, an authorization request message to a payment processing network that includes the fare value and the financial institution account information, to authorize, clear and settle only the fare value; andallowing, by the second point of service terminal, the user to exit the transit facility. 2. The method of claim 1, wherein the first payment device comprises a read-only device that does not have write capabilities at a POS terminal. 3. The method of claim 1, wherein the first payment device comprises a credit card or a debit card. 4. The method of claim 1, wherein the first payment device comprises a mobile device. 5. The method of claim 1, wherein the information associated with the first and/or second interaction includes at least one of the time of day, the location of the POS terminal, and a primary account number (PAN). 6. The method of claim 1, wherein the first transit transaction comprises one of a train, a subway, a bus, or a hovercraft. 7. The method of claim 1, wherein the step of determining the fare value comprises applying one or more of the transit agency rules and policies to the information stored for the first and second interactions. 8. The method of claim 1, wherein the first payment device is associated with a PAN;wherein a second payment device that is different from the first payment device is associated with the PAN;wherein the first payment device is further associated with a first rider identifier (RID) that uniquely identifies the first payment device and the second payment device is further associated with a second RID that uniquely identifies the second payment device;wherein the step of determining further comprises identifying that the information associated with the first interaction between the first payment device and the first POS terminal is associated with the first RID, and identifying that the information associated with the second interaction between the first payment device and the second POS terminal is associated with the first RID. 9. The method of claim 8, wherein the user is a first user and the fare value is a first fare value and the authorization request message is a first authorization request message, and wherein the method further comprises: receiving, by the first transit point of service terminal, data from the second payment device in a third interaction;receiving at the transit computer apparatus, from the first transit point of service (POS) terminal, information associated with the third interaction between the second payment device and the first transit POS terminal, wherein: the third interaction is associated with a second transit transaction;the second payment device is associated with the financial institution;the second payment device is capable of conducting a retail transaction in addition to a transit transaction; andthe information associated with the third interaction is not written to the second payment device after the third interaction;allowing, by the first transit point of service terminal, a second user of the second payment device to access the transit facility prior to determining a second fare value for the third transit transaction;storing at the transit computer apparatus the information associated with the third interaction;receiving, by the second transit point of service terminal, data from the second payment device in a fourth interaction;allowing, by the second transit point of service terminal, the second user to exit the transit facility;receiving at the transit computer apparatus, from the second transit POS terminal, information associated with the fourth interaction between the second payment device and the second transit POS terminal;determining, by the transit computer apparatus, the second fare value associated with the second transit transaction based on the information associated with the third and the fourth interaction and transit agency rules and policies; andsending, by the transit computer apparatus, a second authorization request message to the payment processing network that includes the second fare value, to authorize, clear and settle only the second fare value. 10. The method of claim 1 wherein the authorization request message is sent via an acquirer to the payment processing network and then to an issuer. 11. The method according to claim 1, wherein the first transit point of service terminal is in an offline transit environment. 12. The method according to claim 1, wherein authorization of the fare value is based at least in part on the rider transaction history data stored on the first payment device. 13. A system comprising: a server computer, wherein the server computer comprises: a processor; anda computer-readable medium coupled to the processor, the computer readable medium comprising code executable by the processor for implementing a method comprising: receiving, from a first transit point of sale (POS) terminal, financial institution account information and entrance transit information associated with a first interaction between a first payment device issued by a financial institution and the first transit POS terminal, wherein the first payment device is a financial institution portable payment device (FIPPD) and wherein the financial institution account information is received from a storage region of the FIPPD, wherein the first payment device comprises a read-only device and is capable of conducting a retail transaction in addition to a transit transaction, wherein the financial institution account information is issued by the financial institution, and wherein entrance transit information comprises one or more of a first time of day information or location information of the first POS terminal;storing the entrance transit information associated with the first interaction;receiving, from a second transit POS terminal, the financial institution account information and exit transit information associated with a second interaction between the first payment device and the second transit POS terminal, wherein the exit transit information comprises one or more of a second time of day information or location information of the second point of service terminal;determining a fare value associated with the first transit transaction based on the entrance transit information and the exit transit information associated with the first and the second interaction, wherein prior to determining a fare value for the first transaction and upon receiving the financial institution account information from the first POS terminal, a user of the payment device is permitted access to a transit facility; andsending an authorization request message to a payment processing network that includes the fare value and the financial institution account information, to authorize, clear and settle only the fare value;and a plurality of transit POS terminals, wherein each transit POS terminal comprises: a processor; anda computer-readable medium coupled to the processor, the computer readable medium comprising code executable by the processor for implementing a method comprising: establishing communication with the first payment device;receiving from the first payment device the financial institution account information associated with the first payment device from the storage region of the first payment device;sending the financial institution account information associated with the payment account to the server computer;sending the entrance transit information to the server computer;determining that the FIPPD is on a white list of a transit agency andallowing the user associated with the payment device to access the transit facility according to rider transaction history data stored in the storage region of the FIPPD. 14. The system of claim 13, wherein the first payment device comprises at least one of a credit card, a debit card, or a mobile phone. 15. The system of claim 13, wherein establishing communication with the first payment device comprise near field communication. 16. A method comprising: receiving, by a first transit point of service terminal, data from a first payment device in a first interaction, wherein the first payment device is a financial institution portable payment device (FIPPD), the data including financial institution account information identifying the first payment device, the financial institution account information issued by a financial institution;receiving at a transit computer apparatus, from the first transit point of service (POS) terminal, the financial institution account information and entrance transit information associated with the first interaction between the first payment device and the first transit POS terminal wherein the financial institution account information is received from a storage region of the FIPPD, wherein: the entrance transit information comprises one or more of first time of day information or location information of the first transit point of service terminal;the first interaction is associated with a first transit transaction;the first payment device is associated with a financial institution;the first payment device is capable of conducting a retail transaction in addition to a transit transaction; andthe entrance transit information associated with the first interaction is not written to the first payment device after the first interaction;upon receiving the financial institution account information from the storage region of the FIPPD, and determining that FIPPD is on a white list of a transit agency, allowing, by the first transit point of service terminal, a user of the first payment device to access a transit facility prior to determining a fare value for the first transit transaction according to rider transaction history data stored in the storage region of the FIPPD;storing at the transit computer apparatus the entrance transit information associated with the first interaction;receiving, by a second transit point of service terminal, the data from the first payment device in a second interaction;receiving at the transit computer apparatus, from the second transit POS terminal, the financial institution account information and exit transit information associated with the second interaction between the first payment device and the second transit POS terminal, wherein the exit transit information comprises one or more of a second time of day information or location information of the second point of service terminal;determining whether the first payment device is authorized to exit the terminal; andin response to the first payment device being authorized, allowing, by the second point of service terminal, the user of the first payment device to exit the transit facility.
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