Integrated payment system and method
First Claim
1. An automated method for payment, comprising:
- (a) storing in a profile database payment preference information for a plurality of payment entities selected from the group of payment entities consisting of payment requesting sources, billers, bank/clients, and payment processors;
(b) receiving a payment request from a payment requesting source;
(c) generating a payment instruction from the payment request and the payment preference information; and
(d) sending the payment instruction to a payment processor.
3 Assignments
0 Petitions
Accused Products
Abstract
An automated computer based payment system and method allows a variety of different payment requesting sources to be coupled to a variety of payment processors. An integrated payment engine receives payment requests from the payment requesting sources and generates therefrom payment instructions that are delivered to the payment processors. The integrated payment engine employs profile information defining payment requesting source and payment processor preferences and requirements to generate the payment instructions from the payment requests. Additional and/or different payment requesting sources and payment processors can be integrated into the system easily by modifying the profile information. The integrated payment engine also employs flexible risk and operational preferences to generate automatically a payment instruction which will implement the payment request so as to optimize a balance of factors associated with making a payment, such as risk and cost.
368 Citations
45 Claims
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1. An automated method for payment, comprising:
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(a) storing in a profile database payment preference information for a plurality of payment entities selected from the group of payment entities consisting of payment requesting sources, billers, bank/clients, and payment processors;
(b) receiving a payment request from a payment requesting source;
(c) generating a payment instruction from the payment request and the payment preference information; and
(d) sending the payment instruction to a payment processor. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. An automated system for making payments, comprising:
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(a) a profile database including payment preference information for a plurality of payment entities selected from the group of payment entities consisting of payment requesting sources, billers, bank/clients, and payment processors;
(b) a payment warehouse database for receiving payment requests from a payment requesting source and storing the payment requests and payment instructions therein;
(c) a payment method engine coupled to the profile database and the payment warehouse database and adapted to generate payment instructions from the payment requests and the payment preference information in the profile database and sending the generated payment instructions to the payment warehouse database for storage therein; and
(d) a payment instruction router coupled to the payment warehouse database and adapted to send payment instructions from the payment warehouse database to a payment processor. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31)
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32. An automated method for payment, comprising:
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(a) storing in a profile database payment preference information for a plurality of payment requesting sources of different types;
(b) receiving payment requests from the plurality of payment requesting sources;
(c) generating payment instructions from the received payment requests and the payment preference information for the payment requesting sources from which the payment requests are received; and
(d) sending the payment instructions to a payment processor. - View Dependent Claims (33, 34)
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35. An automated system for making payments, comprising:
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(a) a profile database including payment preference information for a plurality of payment requesting sources of different types;
(b) a payment warehouse database for receiving payment requests from the plurality of payment requesting sources and storing the payment requests and payment instructions therein;
(c) a payment method engine coupled to the profile database and the payment warehouse database and adapted to generate payment instructions from the payment requests and the payment preference information in the profile database for the payment requesting sources from which the payment instructions are received and to send the generated payment instructions to the payment warehouse database for storage therein; and
(d) a payment instruction router coupled to the payment warehouse database and adapted to send payment instructions from the payment warehouse database to a payment processor. - View Dependent Claims (36, 37)
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38. An automated method for payment, comprising:
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(a) receiving payment requests from a plurality of payment requesting sources of different types;
(b) generating payment instructions from the payment requests received from the payment requesting sources; and
(c) sending the payment instructions to a payment processor. - View Dependent Claims (39, 40, 41)
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42. An automated system for making payments, comprising:
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(a) a payment warehouse database adapted to receive payment requests from a plurality of payment requesting sources of different types and storing the payment requests and payment instructions therein;
(b) a payment method engine coupled to the payment warehouse database and adapted to generate payment instructions from the payment requests for the payment requesting sources from which the payment instructions are received and to send the generated payment instructions to the payment warehouse database for storage therein; and
(c) a payment instruction router coupled to the payment warehouse database and adapted to send payment instructions from the payment warehouse database to a payment processor. - View Dependent Claims (43, 44, 45)
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Specification