System and method for mid-stream purchase of products and services

• US 20030187784A1
• Filed: 03/27/2002
• Published: 10/02/2003
• Est. Priority Date: 03/27/2002
• Status: Abandoned Application

• Current Assignee: Sony Corporation (Sony Group Corp.), Sony Electronics Inc. (Sony Group Corp.)
• Original Assignee: Sony Corporation (Sony Group Corp.), Sony Electronics Inc. (Sony Group Corp.)
• Inventors: Tsukamura, Yoshihiro, Niwa, Kiyohiko, Maritzen, Michael
• Application Number:
  US10/109,515
• Publication Number:
  US 20030187784A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A system and method for providing a mid-stream payment model that automatically transfers funds from a consumer to a merchant are described. The invention allows a consumer to create, edit, and store profile information including merchants, and corresponding consumer accounts, increment payments and total transaction costs. In one embodiment, the invention includes a matching module for matching a merchant to a plurality of listed merchants from a merchant list and identifying a selected consumer account based on the merchant; a connection module coupled to the matching module for automatically connecting the merchant with the selected consumer account; and a transfer module coupled the connection module for transferring funds from the selected consumer account to the merchant in response to a confirmation.

Claims

1. A payment system comprising:

a. a matching module for matching a merchant to a plurality of listed merchants from a merchant list and identifying a selected consumer account based on the merchant;

b. a connection module coupled to the matching module for automatically connecting the merchant with the selected consumer account; and

c. a transfer module coupled the connection module for transferring funds from the selected consumer account to the merchant in response to a confirmation.

2. The system according to claim 1 wherein the confirmation is based on an amount of the funds not exceeding a predetermined amount.

3. The system according to claim 1 wherein the confirmation is based on receiving an authentication of an identity of the consumer.

4. The system according to claim 1 further comprising an input module for receiving the confirmation from the consumer.

5. The system according to claim 4 wherein the funds are one of traditional currency, electronic currency, store credit, and loyalty credit.

6. A method comprising:

a. receiving a request for a payment amount from a merchant;

b. matching the merchant with a selected consumer account from profile information; and

c. transferring the payment amount from the consumer account to the merchant.

7. The method according to claim 6 further comprising checking the payment amount relative to a limit amount.

8. The method according to claim 7 further comprising authorizing the payment amount when the payment amount exceeds the limit amount.

9. The method according to claim 7 wherein the limit amount is established by a total transaction cost.

10. The method according to claim 7 wherein the limit amount is established by an increment payment.

11. The method according to claim 6 further comprising authenticating an identity of a consumer associated with the consumer account.

12. The method according to claim 6 further comprising establishing a link between the merchant and the selected consumer account.

13. The method according to claim 6 further comprising confirming wherein the funds comprise one of traditional currency, electronic currency, store credit, and loyalty credit.

15. The method according to claim 11 wherein authenticating the identity is accomplished by receiving a biometric parameter from the consumer.

16. The method according to claim 11 further comprising storing the merchant and the consumer account.

17. The method according to claim 11 further comprising receiving a total transaction cost associated with the merchant.

18. The method according to claim 11 further comprising receiving an increment payment associated with the merchant.

19. The method according to claim 11 wherein authenticating the identity is accomplished by receiving a PIN from the consumer.

14. A method of initializing comprising:

a. authenticating an identity of a consumer;

b. receiving a consumer account from the consumer for use with a merchant; and

c. associating the consumer account with the merchant.

20. A computer-readable medium having computer executable instructions for performing a method comprising:

a. receiving a request for a payment amount from a merchant;

b. matching the merchant with a selected consumer account from profile information; and

c. transferring the payment amount from the consumer account to the merchant.