Methods for processing a group of accounts corresponding to different products

• US 20050267840A1
• Filed: 07/27/2005
• Published: 12/01/2005
• Est. Priority Date: 04/24/1998
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Holm-Blagg, Lynn, Beck, Darren D., Kathol, Eugene F., Timmins, Debra A., Rashleigh, Carol Ann, Hodges, Michael David, Vovk, Paula J.
• Application Number:
  US11/191,444
• Publication Number:
  US 20050267840A1
• Time in Patent Office: Days
• US Class Current: 705/39
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Processing a group of accounts corresponding to different products. A group of accounts are linked together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. Typically, a group includes a key account and one or more dependent accounts. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Group level processing includes authorizing transactions, applying group payments, creating group statements, creating cardholder communications, and administering reward programs. Each dependent account has an associated dependent strategy that specifies group level processing options for the dependent account.

Claims

1. A method for authorizing a financial transaction, comprising the steps of:

receiving an authorization request associated with an account that is a member of a group;

determining whether the account is a key account or a dependent account;

if the account is a dependent account, then checking a dependent strategy associated with the dependent account to determine whether the dependent strategy specifies that the dependent account participates in a group authorization; and

if the dependent strategy specifies that the dependent account participates in the group authorization, then using a group credit lie and group available credit to determine whether the financial transaction is authorized.

2-61. -61. (canceled)