Stored value payouts
First Claim
1. A method for automatically processing an incoming payment for a payee with an online money transfer system, the method comprising steps of:
- receiving information at the online money transfer system, wherein the information relates to processing of one or more received payments associated with the payee;
receiving the incoming payment associated with the payee;
determining a default repository for the incoming payment;
determining whether to transfer at least some of the incoming payment away from the default repository or escrow at least some of the incoming payment for benefit of at least one predetermined party; and
applying either the earmark or the escrow according to the second-listed determining step.
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Accused Products
Abstract
According to the invention, a method for automatically processing an incoming payment for a payee with an online money transfer system. In one step, information is received at the online money transfer system. That information relates to processing of one or more received payments associated with the payee. At some point, the incoming payment associated with the payee is received. A default repository for the incoming payment is determined. It is determined whether to transfer at least some of the incoming payment away from the default repository or escrow at least a portion of the incoming payment for benefit of at least one predetermined party. Either the earmark or the escrow is applied after this determination.
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Citations
22 Claims
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1. A method for automatically processing an incoming payment for a payee with an online money transfer system, the method comprising steps of:
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receiving information at the online money transfer system, wherein the information relates to processing of one or more received payments associated with the payee;
receiving the incoming payment associated with the payee;
determining a default repository for the incoming payment;
determining whether to transfer at least some of the incoming payment away from the default repository or escrow at least some of the incoming payment for benefit of at least one predetermined party; and
applying either the earmark or the escrow according to the second-listed determining step. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method for automatically processing an incoming payment for a payee with an online money transfer system, the method comprising steps of:
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receiving a plurality of rules at the online money transfer system with a wide area network, wherein the plurality relates to processing of one or more received payments associated with the payee;
receiving from a payor the incoming payment that is associated with the payee;
analyzing a first rule of the plurality to determine that the first rule applies to the incoming payment;
analyzing a second rule of the plurality to determine that the second rule applied to the incoming payment;
determining whether to transfer at least some of the incoming payment away from a default repository or escrow at least a portion of the incoming payment for benefit of at least one predetermined party based, at least in part, upon the preceding analyzing steps; and
applying the escrow of the determining step to at least some of the incoming payment. - View Dependent Claims (15, 16, 17, 18, 19)
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20. A method for automatically processing an incoming payment for a payee with an online money transfer system, the method comprising steps of:
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receiving a plurality of rules at the online money transfer system with a wide area network, wherein the plurality relates to processing of one or more received payments associated with the payee;
receiving from a payor the incoming payment that is associated with the payee;
determining a default repository for the incoming payment that would be used in absence of any applicable rules;
determining from one of the plurality, to escrow at least some of the incoming payment for benefit of at least one predetermined party, wherein;
the one predetermined party is neither the payee or the payor, and funds subject to the escrow of the second-listed determining step are available to the one predetermined party; and
applying the escrow of the determining step to at least some of the incoming payment. - View Dependent Claims (21, 22)
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Specification