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Bill payment payee information management system and method

  • US 20040210520A1
  • Filed: 04/02/2003
  • Published: 10/21/2004
  • Est. Priority Date: 04/02/2003
  • Status: Abandoned Application
First Claim
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1. A method of managing information relating to a plurality of payees for an electronic bill payment system, said method comprising steps of:

  • saving consumer/payee information in a consumer/payee database, wherein said consumer/payee information includes payee remittance information which is obtained from consumers;

    storing proprietary payee remittance information in a biller remittance database;

    receiving requests from consumers to pay bills to designated payees contained in said consumer/payee database;

    creating a bill payment instruction for each request from a consumer to pay a bill based upon payee remittance information contained in said biller remittance database if payee remittance information for the designated payee exists in said biller remittance database, or based upon payee remittance information contained in said consumer/payee database if payee remittance information for the designated payee does not exist in said biller remittance database; and

    sending bill payment instructions which have been created to a bill payment processor for execution by said bill payment processor.

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