Payment system and method
First Claim
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1. A system for distributing a payment, comprising:
- a) means for assigning a unique transaction code;
b) means for communicating said transaction code to a payee,;
c) means for payee to request payment from a payor, said request including said transaction code, said payment request means including computers networked for data transmission therebetween; and
d) means for distributing payment to the payee.
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Abstract
A system and method of making a payment to a payee upon presentation by the payee of a predefined code is described. A code is assigned for a specified payment transaction and is stored in association with the predefined payment amount. A payee requests payment and provides the previously-assigned code. The payor uses the code to look up the amount to be paid and makes payment to the payee. The system and method can incorporate security measures to reduce fraud. The system and method offer particular advantage in the context of the issuance of rebates and refunds.
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Citations
19 Claims
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1. A system for distributing a payment, comprising:
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a) means for assigning a unique transaction code;
b) means for communicating said transaction code to a payee,;
c) means for payee to request payment from a payor, said request including said transaction code, said payment request means including computers networked for data transmission therebetween; and
d) means for distributing payment to the payee. - View Dependent Claims (2, 3, 16, 17)
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4. A method for distributing a payment, comprising the steps of:
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a) assigning a unique transaction code;
b) communicating said transaction code to a payee;
c) receiving from payee, via computers networked for data transmission therebetween, a request for payment from a payor said request including said transaction code;
d) distributing payment to the payee. - View Dependent Claims (5, 6, 18, 19)
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7. A method for distributing a rebate, comprising the steps of:
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a) offering a rebate in exchange for the purchase of a product;
b) assigning to the product a product identifier;
c) selling the product to a consumer;
c) assigning a unique transaction code to the sale and providing the transaction code and the product identifier to the consumer;
d) storing the transaction code in association with the product identifier of the purchased product;
e) receiving a request from consumer to receive rebate, said request including said product identifier and said transaction code;
f) providing rebate to consumer. - View Dependent Claims (8, 9, 10, 11, 12, 13)
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14. A method of screening a rebate redemption for potential fraud, comprising the steps of:
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a) maintaining a database of redeemed rebates, said rebate database including rebate records for rebates redeemed by more than one manufacturer, a rebate record including information associated with the entity that received the rebate;
b) upon receiving a rebate redemption request containing information associated with the requester, searching the database of redeemed rebates to find rebates previously redeemed to the requester.
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15. A method of screening a rebate redemption request for potential fraud wherein said information associate with the entity includes a magnetic ink character recognition number for an account associated with the entity.
Specification