Intermediated electronic payment system and method
First Claim
1. A method for electronically making a payment to an agent and a brokerage for a transaction involving payment for goods or services between a customer and the brokerage, the transaction comprising a card-based payment by the customer using a payment processor and intermediated by a payment coordinator, comprising the steps of:
- communicating payment information and agent information via a telecommunication session between the payment terminal to a receiving processor over a communication network, said payment information entered into the payment terminal by the agent;
carrying out card payment by the receiving processor capturing the payment information and the agent information, obtaining electronic authorization from a card issuing authority, and transmitting an electronic confirmation of the card payment to the payment terminal;
sending the payment information and the agent information to a payment processor operated by the payment coordinator;
transferring an amount of funds for the transaction to a payment coordinator electronic fund transfer account through a brokerage trust account and a payment coordinator clearing account, under direction of the payment processor; and
performing electronic fund transfers from the payment coordinator electronic fund transfer account to an agent account and a brokerage account by executing an EFT execution file, the execution file prepared to effect an allocation of funds determined by a split settlement processor in accordance with a pre-determined set of allocation rules after receiving disbursement information from the payment processor.
1 Assignment
0 Petitions
Accused Products
Abstract
An intermediated electronic payment system and method. Electronic payments are made to an agent and a brokerage for a transaction involving a customer via a card, with the intermediation of a payment coordinator. A payment terminal is operated by the agent which transmits payment information and agent information via a telecommunication session to a receiving processor. The receiving processor captures the said information, obtains electronic authorization for the card payment, and sends a confirmation . The information are then sent to a payment processor operated by the payment coordinator. An amount of funds is transferred to a payment coordinator electronic fund transfer account through a brokerage trust account and a payment coordinator clearing account. Electronic fund transfers from the electronic fund transfer account are made to accounts of the agent and the brokerage for effecting an allocation determined by a split settlement processor in accordance with allocation rules.
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Citations
27 Claims
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1. A method for electronically making a payment to an agent and a brokerage for a transaction involving payment for goods or services between a customer and the brokerage, the transaction comprising a card-based payment by the customer using a payment processor and intermediated by a payment coordinator, comprising the steps of:
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communicating payment information and agent information via a telecommunication session between the payment terminal to a receiving processor over a communication network, said payment information entered into the payment terminal by the agent;
carrying out card payment by the receiving processor capturing the payment information and the agent information, obtaining electronic authorization from a card issuing authority, and transmitting an electronic confirmation of the card payment to the payment terminal;
sending the payment information and the agent information to a payment processor operated by the payment coordinator;
transferring an amount of funds for the transaction to a payment coordinator electronic fund transfer account through a brokerage trust account and a payment coordinator clearing account, under direction of the payment processor; and
performing electronic fund transfers from the payment coordinator electronic fund transfer account to an agent account and a brokerage account by executing an EFT execution file, the execution file prepared to effect an allocation of funds determined by a split settlement processor in accordance with a pre-determined set of allocation rules after receiving disbursement information from the payment processor. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15, 16)
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14. A system for electronically making a payment to an agent and a brokerage for a transaction involving payment for goods or services between a customer and the brokerage, the transaction comprising a card-based payment by the customer intermediated by a payment coordinator, comprising:
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a payment terminal operated by the agent for wirelessly sending the payment information and agent information;
a receiving processor operated by the payment coordinator for receiving the payment information and agent information from the payment terminal, and transmitting selectively the payment information and agent information;
a payment processor operated by the payment coordinator for receiving the transaction information from the receiving processor, and transferring an amount of funds for the transaction to a payment coordinator electronic fund transfer account through a brokerage trust account and a payment coordinator clearing account, and preparing disbursement information for further transmission; and
a split processor operated by the payment coordinator for receiving the disbursement information from the payment processor, and preparing an EFT execution file for execution at a financial institution housing the payment coordinator electronic fund transfer account, the EFT execution file prepared to effect an allocation of funds to an agent account and a brokerage account determined in accordance with a pre-determined set of allocation rules. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A method for electronically making a payment to a driver and a taxi brokerage for a transaction involving payment for a taxi fare between a rider and the taxi brokerage, the transaction comprising a card-based payment by the rider using a wireless payment processor and intermediated by a payment coordinator, comprising the steps of:
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communicating payment information and driver information via a telecommunication session between the payment terminal to a receiving processor over a GPRS communication network, said payment information entered into the payment terminal by the driver, and the payment terminal comprises hardware and software elements for identifying the agent, and at least one of the group comprising a built-in Wireless Application Protocol browser, a graphical display, a built-in printer, and a wireless phone;
carrying out card payment by the receiving processor capturing the payment information and the driver information, obtaining electronic authorization from a card issuing authority, and transmitting an electronic confirmation of the card payment to the payment terminal;
sending the payment information and the driver information to a payment processor operated by the payment coordinator;
transferring an amount of funds for the transaction to a payment coordinator electronic fund transfer account through a taxi brokerage trust account and a payment coordinator clearing account, under direction of the payment processor; and
performing electronic fund transfers from the payment coordinator electronic fund transfer account to an driver account, a taxi brokerage account and a payment coordinator account by executing an EFT execution file, the execution file prepared to effect an allocation of funds determined by a split settlement processor in accordance with a pre-determined set of allocation rules after receiving disbursement information from the payment processor.
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Specification