Method and apparatus for making payments and delivering payment information
First Claim
1. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of a service provider and a trusted intermediary financial institution, comprising the method steps of:
- utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds in order to honor said plurality of negotiable instruments.
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Accused Products
Abstract
When characterized as an improved method of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, the invention consists of a number of method steps which will now be described. First, authorization is obtained from a plurality of payor entities which allows a service provider to make payments, on behalf of the plurality of payor entities, to a plurality of payee entities. Then at least one trusted intermediary financial institution is selected. The trusted intermediary financial institution periodically receives payment information and payment authorization from the plurality of payor entities. The trusted intermediary financial institution automatically transfers funds, in amounts only consistent with at least the payment information, to the service provider. Preferably, the payment information includes at least (1) an identification of each of the plurality of payee entities; (2) an identification of payment amounts for each of the plurality of payee entities; (3) a payment record identifier which is uniquely associated with each payment; and (4) an authorization code which is uniquely associated with each payment record identifier.
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Citations
85 Claims
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1. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of a service provider and a trusted intermediary financial institution, comprising the method steps of:
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utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer automatically funds in order to honor said plurality of negotiable instruments. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39)
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14. A means for making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of said plurality of payor entities, a service provider, and a trusted intermediary financial institution, comprising:
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means for utilizing at least one data processing system to sort and format payment information separately for each of said plurality of payor entities concerning a plurality of payment obligation;
means for communicating said payment information separately from each of said plurality of payor entities to said service provider and said trusted intermediary financial institution;
means for utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
means for directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
means for utilizing at least one data processing system under control of said trusted intermediary financial institution to transfer funds automatically in order to honor said plurality of negotiable instruments.
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27. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through the coordinated operation of said plurality of payor entities, a service provider, and a trusted intermediary financial institution, comprising the method steps of:
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utilizing at least one data processing system to sort and format payment information from said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information to said service provider and said trusted intermediary financial institution;
utilizing at least one data processing system under control of said service provider to consolidate said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing a plurality of negotiable instruments from said service provider to said plurality of payees in order to satisfy said plurality of payment obligations;
utilizing at least one data processing system under control of said trusted intermediary financial institution to (1) verify said plurality of negotiable instruments, and (2) automatically transfer funds in order to honor verified ones of said plurality of negotiable instruments.
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40. An improved method of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising the method steps of:
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(a) obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) arranging for at least one trusted intermediary financial institution to periodically receive data processing system readable payment information and payment authorization from said plurality of payor entities, and to transfer automatically funds in amounts consistent with at least said payment information to said service provider;
(c) said payment information and payment authorization including at least;
(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier. (d) periodically communicating data processing system readable payment instructions from said plurality of payor entities to said service provider;
(e) said data processing system readable payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with payment obligation;
(f) utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities utilizing at least one data processing system, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(g) upon receipt of a negotiable instrument from any of said plurality of payee entities, utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) transfer funds between said plurality of payor entities and said service provider to effect payment. - View Dependent Claims (41, 42, 43, 44, 45, 46, 47, 48, 49, 50)
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51. An improved means for making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising:
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(a) means for obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) means for periodically communicating payment information and payment authorization from said plurality of payor entities to at least one trusted intermediary financial institution, (c) means for automatically transferring funds in amounts only consistent with said payment information to said service provider;
(d) said payment information including at least;
(1) a payment record identifier uniquely associated with each payment obligation; and
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(e) means for periodically communicating payment instructions from said plurality of payor entities to said service provider;
(f) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with each payment obligation;
(g) means for utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(h) means for receiving a negotiable instrument from any of said plurality of payee entities, and utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) automatically transfer funds between said plurality of payor entities and said service provider in amounts necessary to allow payment. - View Dependent Claims (52, 53, 54, 55, 56, 57, 58, 60, 61, 62, 64, 65, 66, 67, 69, 71, 72)
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59. An improved means for making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising:
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(a) means for obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) means for periodically communicating payment information and payment authorization from said plurality of payor entities to at least one trusted intermediary financial institution, (c) data processing implemented means for automatically transferring funds in amounts only consistent with said payment information to said service provider;
(d) said payment information and payment authorization including at least;
(1) a payment record identifier uniquely associated with each payment obligation;
(2) an identification of payment amounts for each of said plurality of payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(e) means for periodically communicating payment instructions from said plurality of payor entities to said service provider;
(f) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each of said plurality of payee entities; and
(3) a payment record identifier uniquely associated with each payment obligation;
(g) data processing implemented means for utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution; and
(h) data processing implemented means for receiving a negotiable instrument from any of said plurality of payee entities, and utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) support the automatic transfer of funds between said plurality of payor entities and said service provider in amounts necessary to allow payment. - View Dependent Claims (63)
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68. An improved method in a distributed data processing system of making payments from a plurality of payor entities to a plurality of payee entities through a service provider, comprising the method steps of:
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(a) obtaining authorization from said plurality of payor entities which allows said service provider to make payments on behalf of said plurality of payor entities to said plurality of payee entities;
(b) arranging for at least one trusted intermediary financial institution to periodically receive through said distributed data processing system (1) payment identification information (2) payment information and (3) payment authorization and payment information from said plurality of payor entities, and automatically transfer funds through said distributed data processing system in amounts only consistent with said payment information to said service provider;
(c) said payment information including at least;
(1) a payment record identifier uniquely associated with payment obligation;
(2) an identification of payment amounts for each of said payment obligations; and
(3) an authorization code uniquely associated with each payment record identifier;
(d) periodically communicating through said distributed data processing system payment instructions from said plurality of payor entities to said service provider;
(e) said payment instructions including at least;
(1) an identification of each of said plurality of payee entities;
(2) an identification of payment amounts for each payment obligation; and
(3) a payment record identifier uniquely associated with each payment amount;
(f) utilizing said service provider to (1) consolidate payment instructions from said plurality of payor entities, (2) direct a negotiable instrument to each of said plurality of payee entities, (3) generate payment verification information for said negotiable instruments, and (4) communicate said payment verification information to said trusted intermediary financial institution through said distributed data processing system; and
(g) upon receipt of a negotiable instrument from any of said plurality of payee entities, utilizing said trusted intermediary financial institution to (1) verify said request for payment, and (2) automatically transfer funds through said distributed data processing system between said plurality of payor entities and said service provider, necessary to allow payment. - View Dependent Claims (70)
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73. An improved method of delivering payment information from a plurality of payor entities to a plurality of payee entities through the coordinated operation of the plurality of payor entities and a service provider comprising the method steps of:
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utilizing at least one data processing system to sort and format payment information from said plurality of payor entities concerning a plurality of payment obligations;
communicating said payment information to said service provider;
utilizing at least one data processing system under control of said service provider to consolidate said payment information concerning said plurality of payment obligations from said plurality of payor entities in accordance with at least one predetermined consolidation criterion;
directing payments to said plurality of payees in order to satisfy said plurality of payment obligations;
directing consolidated payment information, independently of said payments, from said service provided to said plurality of payees. - View Dependent Claims (74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85)
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Specification