International negotiable instrument payment

• US 20030187789A1
• Filed: 03/27/2002
• Published: 10/02/2003
• Est. Priority Date: 03/27/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Karas, Peter M., Wilber, Richard G.
• Granted Patent: US 8,407,143 B2
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

According to the invention, a method for purchasing a negotiable instrument from an online payment system by a payor to compensate a payee in relation to a listing on a vending site is disclosed. In one step, a payment currency and/or a drawee bank nationality is selected for the online payment system to use when issuing the payment instrument. Payment information is received from the payor and comprises at least two of: a payee identifier, a payee name, a payee address, and a payment amount. A money handler associated with the payor is debited for at least the payment amount. The payment instrument payable to the payee name for the payment amount is generated. That payment instrument is based on at least one of the payment currency and the drawee bank nationality. The payment currency is different from a currency used by the money handler. The payment instrument is delivered to the payee.

Claims

1. A method for purchasing a payment instrument from an online payment system by a payor to compensate a payee in relation to a listing on a vending site, the method comprising steps of:

receiving selection of at least one of a payment currency and a drawee bank nationality for the online payment system to use when issuing the payment instrument;

receiving payment information from the payor comprising at least two of;

a payee identifier, a payee name, a payee address, and a payment amount;

debiting a money handler associated with the payor for at least the payment amount;

causing generation of the payment instrument payable to the payee name for the payment amount, wherein;

the payment instrument is based on at least one of the payment currency and the drawee bank nationality specified in the first-listed receiving step, and

the payment currency is different from a currency used by the money handler; and

causing delivery of the payment instrument to the payee.

2. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, further comprising a step of determining if an event has occurred before performing the causing generation step.

3. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the first-listed receiving step receives the selection from the payee.

4. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the payee address is a retail location.

5. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the payee identifier is an e-mail address associated with the payee.

6. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the causing delivery step comprises delivering the payment instrument to the payee at a retail location upon request by the payee.

7. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the causing delivery step comprises causing delivery of the payment instrument at the payee address.

8. The method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site as recited in claim 1, wherein the payor specifies the payee identifier and the payment amount in the second-listed receiving step and the payee specifies the payee address at some other time.

9. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for purchasing the payment instrument from the online payment system by the payor to compensate the payee in relation to the listing on the vending site of claim 1.

10. A method for producing a negotiable instrument from an online payment system to compensate a payee for transactions with a plurality of payors, the method comprising steps of:

receiving selection of at least one of a payment currency and a drawee bank nationality for the online payment system to use when issuing the negotiable instrument;

receiving first payment information from a first payor, wherein the first payment information comprises a first payee identifier and a first payment amount;

debiting a first money handler associated the first payor for at least the first payment amount;

receiving second payment information from a second payor, wherein the second payment information comprises a second payee identifier and a second payment amount, and wherein the first payee identifier and second payee identifier both correspond to the payee and may be the same;

debiting a second money handler associated the second payor for at least the second payment amount, wherein the first and second money handlers may be the same;

determining an event is satisfied, wherein the event is at least one of an monetary event and a temporal event;

causing generation of a negotiable instrument payable to the payee in response to the determining step, wherein;

an amount of the negotiable instrument is equal to or larger than a sum of the first and second payment amounts minus any fees,

the negotiable instrument uses at least one of the payment currency and the drawee bank nationality specified in the first-listed receiving step, and

the payment currency is different from a currency used by at least one of the first and second money handlers; and

causing delivery of the negotiable instrument to the payee.

11. The method for producing the negotiable instrument from the online payment system to compensate the payee for transactions with the plurality of payors as recited in claim 10, wherein the monetary event is a stored value associated with the payor reaching a threshold amount.

12. The method for producing the negotiable instrument from the online payment system to compensate the payee for transactions with the plurality of payors as recited in claim 10, wherein the temporal event is chosen from a group consisting of:

a time period;

a calendar date; and

a specified day of a month.

13. The method for producing the negotiable instrument from the online payment system to compensate the payee for transactions with the plurality of payors as recited in claim 10, wherein the event requires satisfaction of both the monetary and temporal event.

14. The method for producing the negotiable instrument from the online payment system to compensate the payee for transactions with the plurality of payors as recited in claim 10, wherein the negotiable instrument is chosen from a group consisting of:

a money order, a cashiers check, a certified check, a travelers check, a bank check, a bank draft, a tellers check, and a gift certificate.

15. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for producing the negotiable instrument from the online payment system to compensate the payee for transactions with the plurality of payors of claim 10.

16. A method for producing a negotiable instrument from an online payment system to compensate a payee for a transaction with one or more payors, the method comprising steps of:

receiving selection of at least one of a payment currency and a drawee bank nationality for the online payment system to use when issuing the negotiable instrument;

receiving payment information from the payor comprising at least two of;

a payee identifier, a payee name, a payee address, and a payment amount;

debiting a money handler associated with the payor for at least the payment amount;

determining an event is satisfied, wherein the event is at least one of an monetary event and a temporal event;

causing generation of a negotiable instrument payable to the payee name for the payment amount after the second-listed receiving step and the determining step, wherein;

the negotiable instrument uses at least one of the payment currency and the drawee bank nationality specified in the first-listed receiving step, and

one of these conditions is true;

the payment currency is different from a currency used by the money handler, and the drawee bank nationality is different from a nationality used by the money handler; and

causing delivery of the negotiable instrument to the payee.

17. The method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors as recited in claim 16, wherein the monetary event is a stored value associated with the payor reaching a threshold amount.

18. The method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors as recited in claim 16, wherein the temporal event is chosen from the group consisting of:

a time period;

a calendar date; and

a specified day of a month.

19. The method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors as recited in claim 16, wherein the event requires satisfaction of both the monetary and temporal event.

20. The method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors as recited in claim 16, wherein the negotiable instrument is chosen from a group consisting of:

a money order, a cashiers check, a certified check, a travelers check, a bank check, a bank draft, a tellers check, and a gift certificate.

21. The method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors as recited in claim 16, wherein the drawee bank nationality is different from a nationality of the money handler.

22. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for producing the negotiable instrument from the online payment system to compensate the payee for the transaction with one or more payors of claim 16.