Methods and systems for processing partial payments using debit cards

• US 20040064405A1
• Filed: 09/30/2002
• Published: 04/01/2004
• Est. Priority Date: 09/30/2002
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated), Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Mascavage, John Joseph, Weichert, Margaret Morgan
• Application Number:
  US10/262,530
• Publication Number:
  US 20040064405A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Methods and systems are provided for processing transactions between a vendor and a purchaser. A payment system is provided in communication with the vendor, a financial institution that holds a vendor account on behalf of the vendor, and a financial institution that holds a purchaser account on behalf of the purchaser. The payment system collects funds from the purchaser account and holds them in a vendor account, distributing funds for individual partial shipments as they are made by the vendor.

Claims

1. A method for processing a transaction between a vendor and a purchaser, the method comprising:

receiving payment information for the transaction, wherein the payment information includes;

debit information identifying a purchaser account associated with the purchaser; and

identification of a vendor account associated with the vendor;

receiving notification from the vendor of a partial shipment in accordance with the transaction; and

effecting a transfer of funds from the purchaser account to the vendor account in accordance with the partial shipment.

2. The method recited in claim 1 wherein the transfer of funds from the purchaser account to the vendor account comprises a transfer of funds from the purchaser account to a surrogate account and a transfer of funds from the surrogate account to the vendor account.

3. The method recited in claim 2 wherein:

the transfer of funds from the purchaser account to the surrogate account occurs before receiving notification from the vendor of the partial shipment; and

the transfer of funds from the surrogate account to the vendor account occurs after receiving notification from the vendor of the partial shipment.

4. The method recited in claim 3 wherein:

the transfer of funds from the purchaser account to the surrogate account corresponds to a total payment amount for the transaction; and

the transfer of funds from the surrogate account to the vendor account corresponds to a partial payment amount for the partial shipment.

5. The method recited in claim 2 further comprising returning funds from the surrogate account to the purchaser account after a condition has been satisfied.

6. The method recited in claim 5 wherein the condition comprises a passage of a time period.

7. The method recited in claim 6 wherein the time period comprises a time period between successive partial shipments.

8. The method recited in claim 5 wherein the condition comprises an action taken by the purchaser.

9. The method recited in claim 1 wherein the transfer of funds is performed directly from the purchaser account to the vendor account.

10. The method recited in claim 9 wherein the transfer of funds is performed after receiving notification from the vendor of the partial shipment.

11. The method recited in claim 9 further comprising performing a risk assessment of a funds level in the purchaser account.

12. The method recited in claim 1 wherein the debit information is received from a debit card.

13. The method recited in claim 1 wherein the debit information is received from a computer-readable storage medium.

14. The method recited in claim 1 wherein the debit information comprises encrypted information, the method further comprising decrypting the encrypted information.

15. The method recited in claim 1 wherein the debit information is collected over the Internet.

16. The method recited in claim 1 wherein the debit information is collected with a point-of-sale device.

17. A computer system for processing a transaction between a vendor and a purchaser, the computer system comprising:

an input interface;

an output interface; and

a processor in communication with the input interface and the output interface, the processor being configured to;

receive payment information for the transaction at the input interface, wherein the payment information includes;

debit information identifying a purchaser account associated with the purchaser; and

identification of a vendor account associated with the vendor;

receive notification from the vendor of a partial shipment in accordance with the transaction; and

effect a transfer of funds from the purchaser account to the vendor account in accordance with the partial shipment.

18. The computer system recited in claim 17 wherein the transfer of funds from the purchaser account to the vendor account comprises a transfer of funds from the purchaser account to a surrogate account and a transfer of funds from the surrogate account to the vendor account.

19. The computer system recited in claim 18 wherein:

the transfer of funds from the purchaser account to the surrogate account occurs before receiving notification from the vendor of the partial shipment; and

the transfer of funds from the surrogate account to the vendor account occurs after receiving notification from the vendor of the partial shipment.

20. The computer system recited in claim 19 wherein:

the transfer of funds from the purchaser account to the surrogate account corresponds to a total payment amount for the transaction; and

the transfer of funds from the surrogate account to the vendor account corresponds to a partial payment amount for the partial shipment.

21. The computer system recited in claim 18 wherein the processor is further configured to return funds from the surrogate account to the purchaser account after passage of a time period.

22. The computer system recited in claim 17 wherein the transfer of funds is performed directly from the purchaser account to the vendor account.

23. The computer system recited in claim 22 wherein the transfer of funds is performed after receiving notification from the vendor of the partial shipment.

24. The computer system recited in claim 22 wherein the processor is further configured to perform a risk assessment of a funds level in the purchaser account.

25. The computer system recited in claim 17 wherein the debit information is received from a debit card.

26. The computer system recited in claim 17 wherein the debit information is received from a computer-readable storage medium.

27. The computer system recited in claim 17 wherein:

the debit information comprises encrypted information; and

the processor is further configured to decrypt the encrypted information.

28. The computer system recited in claim 17 wherein the input interface is configured for communication with the Internet.

29. The computer system recited in claim 17 wherein the input interface is configured for communication with a point-of-sale device.

30. A method for processing a transaction with a purchaser, the method comprising:

collecting an identification of a plurality of items from the purchaser;

collecting debit information from the purchaser, wherein the debit information identifies a purchaser account associated with the purchaser;

providing the debit information to a payment system; and

receiving funds coordinated by the payment system in response to a shipment of a portion of the plurality of items.

31. The method recited in claim 30 wherein the funds are received directly from a surrogate account controlled by the payment system.

32. The method recited in claim 30 wherein the funds are received directly from the purchaser account.

33. The method recited in claim 30 wherein the debit information is received from a debit card.

34. The method recited in claim 30 wherein the debit information is received from a computer-readable storage medium.

35. The method recited in claim 30 wherein the debit information is collected over the Internet.

36. The method recited in claim 30 wherein the debit information is collected with a point-of-sale device.

37. A computer system for processing a transaction with a purchaser, the computer system comprising:

an input interface;

an output interface; and

a processor in communication with the input interface and the output interface, the processor being configured to;

receive an identification of a plurality of items from the purchaser;

receive debit information from the purchaser, wherein the debit information identifies a purchaser account associated with the purchaser; and

issue a notification of a shipment of a portion of the plurality of items to effect receipt of funds from the purchaser account.

38. The computer system recited in claim 37 wherein the funds are received directly from a surrogate account controlled by the payment system.

39. The computer system recited in claim 37 wherein the funds are received directly from the purchaser account.

40. The computer system recited in claim 37 wherein the debit information is received from a debit card.

41. The computer system recited in claim 37 wherein the debit information is received from a computer-readable storage medium.

42. The computer system recited in claim 37 wherein the debit information is collected over the Internet.

43. The computer system recited in claim 37 wherein the debit information is collected with a point-of-sale device.