System and method for deferring payments
First Claim
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1. A method for making deferred payment purchases, the method comprising:
- a. in response to a user request, determining a deferred credit limit for a deferred credit line for the user;
b. in response to a user request, performing at least one purchase transaction, wherein the at least one purchase transaction is made against the deferred credit line for the user.
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Abstract
A system and method for making deferred payment purchases are disclosed. The system includes a deferred payment system provider (which includes a deferred payment server, pre-registered merchants, pre-approved customers and at least one financial institution. The deferred payment server, the customers and the merchants communicate over a network (e.g., the Internet). The pre-approved customers have pre-approved deferred payment credit limits. The customers can make deferred purchases (e.g., online, from brick and mortar stores, from catalogs, etc.) up to the deferred credit limit from the various pre-registered vendors.
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Citations
24 Claims
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1. A method for making deferred payment purchases, the method comprising:
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a. in response to a user request, determining a deferred credit limit for a deferred credit line for the user;
b. in response to a user request, performing at least one purchase transaction, wherein the at least one purchase transaction is made against the deferred credit line for the user. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 16, 17, 19, 20, 21, 22, 23, 24)
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15. A system for making deferred payment purchases, the system comprising:
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a. a deferred payment server;
b. at least one customer;
c. at least one merchant; and
d. a network, wherein the deferred payment server, the at least one customer and the at least one merchant communicate over the network.
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18. A computer readable medium having an executable component for making deferred payment purchases, wherein the executable component contains computer-executable instruction for:
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a. in response to a user request, determining a deferred credit limit for a deferred credit line for the user;
b. in response to a user request, performing at least one purchase transaction, wherein the at least one purchase transaction is made against the deferred credit line for the user.
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Specification