Method and apparatus for payment of bills and obligations by credit card
First Claim
1. A method of paying bills by charging to a credit account, comprising the steps of:
- providing a transaction delivering entity;
providing at least one participating lender;
delivering debit transactions for payment of a payor'"'"'s bills to the participating lender by the transaction delivering entity without presentation of a physical card by the payor, wherein the transaction is free of transaction charges to a payee so that the payee receives full payment of an amount due, and wherein payee'"'"'s consent to the transaction is unnecessary; and
managing the payor'"'"'s credit line as debits are generated;
so that the payor is able to borrow on credit accounts to pay bills to any payee, without presentation of a physical card and so that channeling of borrowings to participating lenders is facilitated.
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Accused Products
Abstract
A method and apparatus for payment of bills for a customer or payor of bills by channeling the borrowings to two or more major cooperating lenders with large credit charge volume is disclosed. The invention allows the presence of a transaction delivering entity to deliver debit transactions at no cost to the merchant or the payee. According to the invention, the transaction delivering entity includes either the licensee of the invention or any bill paying service. The method involves the customer'"'"'s card service requesting bill payment service from the transaction delivering entity. The transaction delivering entity arranges directly with one or more of the cooperating lenders without charging a fee to the customer.
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Citations
33 Claims
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1. A method of paying bills by charging to a credit account, comprising the steps of:
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providing a transaction delivering entity;
providing at least one participating lender;
delivering debit transactions for payment of a payor'"'"'s bills to the participating lender by the transaction delivering entity without presentation of a physical card by the payor, wherein the transaction is free of transaction charges to a payee so that the payee receives full payment of an amount due, and wherein payee'"'"'s consent to the transaction is unnecessary; and
managing the payor'"'"'s credit line as debits are generated;
so that the payor is able to borrow on credit accounts to pay bills to any payee, without presentation of a physical card and so that channeling of borrowings to participating lenders is facilitated. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A system for payment of bills by charging to a credit account, comprising:
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a transaction delivering entity;
at least one participating lender;
means for linking the participating the transaction delivering entity and the participating lenders, wherein debit transactions for payment of a payor'"'"'s bills are delivered to the participating lender by the transaction delivering entity without presentation of a physical card by the payor;
means for eliminating transaction fees to payees, so that payee receives full payment of an amount due, wherein the payee'"'"'s consent to the transaction is unnecessary; and
means for managing the payor'"'"'s credit line as debits are generated. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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Specification