Coupon payment system

• US 20050038743A1
• Filed: 08/11/2004
• Published: 02/17/2005
• Est. Priority Date: 08/11/2003
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Alan, Koenigsberg S., Stanley, Jennifer, Sandoval, Hector E.
• Granted Patent: US 7,613,656 B2
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

As an alternative to bill payments made with paper checks, customers are provided with “Sign-to-Pay” payment coupons along with their bills. A customer elects to pay the bill either by check or by returning the “Sign-to-Pay” payment coupon. The coupon will not contain the customer'"'"'s checking account information. However, the payment amount indicated on the coupon will subsequently be deducted from the customer'"'"'s checking account. Preferably, bill payments will be made through the Automated Clearing House (ACH) network which is an efficient and less expensive alternative to the traditional check clearing process.

Claims