System and method for real-time account validation for an on-line payment system
First Claim
1. A method for operating an electronic payment system comprising:
- (a) receiving a user'"'"'s payee information;
(b) validating the user'"'"'s payee information using an account validation system; and
(c) storing the user'"'"'s payee information only if the validation was a success.
3 Assignments
0 Petitions
Accused Products
Abstract
An on-online payment system with real-time account validation is provided. The present invention provides consumers to ability to enroll in the payment system, to add payees, and to manage payees (including editing and deletion of payees). Consumers may also view payment histories, and make new payments (either one time or recurring). Before provide payment to a payee, a real-time call is placed into a Bill Payment Processor'"'"'s Account Validation System in order to validate the Biller information that has been entered by a consumer. If the Biller information is incorrect, the consumer is prompted to correct it. As a result, the information collected from the consumer is more accurate, and payments are less likely to be rejected.
60 Citations
23 Claims
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1. A method for operating an electronic payment system comprising:
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(a) receiving a user'"'"'s payee information;
(b) validating the user'"'"'s payee information using an account validation system; and
(c) storing the user'"'"'s payee information only if the validation was a success. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. A method for initiating payment to a biller using an electronic payment system, wherein the payment is based on a user'"'"'s payee information, the method comprising:
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(a) receiving the user'"'"'s payee information by a bill payment processor of the electronic payment system;
(b) validating the user'"'"'s payee information using an account validation system of the bill payment processor; and
(c) submitting payment to the biller upon a request by the user if the validation of the user'"'"'s payee information was a success. - View Dependent Claims (21)
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22. A method for operating an electronic payment system comprising:
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(a) entering a user'"'"'s payee information to a service provider of the electronic system;
(b) providing the user'"'"'s payee information, from the service provider, to a bill payment processor of the electronic payment system;
(c) validating the user'"'"'s payee information by an account validation system of the bill pay processor;
(d) storing the user'"'"'s payee information in a bill pay profile of the user only if the validation was a success; and
(e) submitting payment to a payee at the request of the user based on the user'"'"'s payee information that has been stored in the bill pay profile of the user.
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23. An electronic payment system comprising:
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a bill payment processor for receiving a user'"'"'s payee information, the bill payment processor having an account validation system for validating the user'"'"'s payee information; and
means for providing payment to the payee upon a request by the user if the validation of the user'"'"'s payee information was a success.
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Specification