Payment system and method

• US 20060212393A1
• Filed: 05/19/2006
• Published: 09/21/2006
• Est. Priority Date: 06/27/2000
• Status: Abandoned Application

• Current Assignee: Nicholas Anthony Lindsay Brown
• Original Assignee: Nicholas Anthony Lindsay Brown
• Inventors: Lindsay Brown, Nicholas Anthony
• Application Number:
  US11/437,205
• Publication Number:
  US 20060212393A1
• 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 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
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Using a single source money management system customers may automate their committed spending. A money management account and a discretionary fund account are established in response to a customer'"'"'s request to participate in the system. A financial institution receives money on a periodic basis from a customer'"'"'s predictable payment system. The money is then deposited/transferred to the money management account, retained in the money management account as required for bill payment, and/or deposited/transferred into the discretionary fund account if it is “excess.” Bills are paid on a customer determined schedule directly from the money management account using the money retained in the money management account. A loan account may also be established in response to a customer'"'"'s application for a loan account. A financial institution grants a loan for a loan purchase in response to a customer'"'"'s application for a loan purchase. The system and/or the financial institution handles payment for the loan purchase and repayment of the loan from the loan account from the money management account. The present invention may include a secure internet shopping system that includes a vendor web system and a financial institution web system. Each vendor offers goods and/or services. The financial institution web system permits customer authorization of payment to a selected vendor.

Claims

1-50. -50. (canceled)

51. A network configured to permit at least one transaction and to include at least one payment of funds, the network comprising:

at least one customer having access to the network;

at least one financial institution, a financial institution being an entity that manages customer accounts containing some form of currency that can be used for payments, the financial institution linked to at least one computerized advanced messaging system;

at least one payee linked to at least the advanced messaging system;

at the financial institution, there being customer account information associated with the financial institution and the customer, and the customer account information having a financial institution customer identifier;

at the payee, there being customer account information associated with the payee and the customer, and the customer account information having a payee customer identifier;

wherein the network is configured such that at the financial institution, the customer can request the transmission of the financial institution customer identifier to the advanced messaging system, and wherein the financial institution customer identifier is transmitted to the advanced messaging system;

wherein the network is configured such that at the payee, the customer can request the transmission of the payee customer identifier to the advanced messaging system, and wherein the payee customer identifier is transmitted to the advanced messaging system;

wherein within the advanced messaging system, the financial institution customer identifier and the payee customer identifier are selectively linked, thus forming a connection between the customer account information at the financial institution and at the payee such that at least one transaction involving at least one financial institution, at least one payee and the customer are permitted; and

,

wherein a transfer of funds takes place from at least one selected customer account at the financial institution to the payee.

52. The network of claim 51 wherein the financial institution can be at least one of the following:

a Bank;

a Credit Union;

a Building Society;

a Government;

an Employer, where the currency is something of value that can be built up over time and has value, for example hours of overtime;

an Airline, where the currency is frequent flier miles;

a Retailer, where the currency is frequent buyer points; and

,

an other entity, where the currency can be used for payments.

53. The network of claim 51 wherein the customer account information at the payee is purchase order information, and the payee customer identifier is an order identifier.

54. The network of claim 51 wherein the network is configured to permit at least one transaction from a first information source to a second information source such that:

at the first information source the customer can request the delivery of selected information to the advanced messaging system associated with a first associated identifier;

at the second information source the customer can request the receipt of the selected information from the advanced messaging system associated with a second associated identifier;

wherein, at the first information source, the selected information is transmitted to the advanced messaging system such that the selected information is associated with the first identifier, the first information source transmits the selected information to the advanced messaging systems on occurrence of at least one of the following;

(i) on the customer request of delivery of selected information;

(ii) on receipt of request from the advanced messaging system for delivery of selected information;

(iii) at a specified date/time as determined by the first information source and/or the advanced messaging system; and

,

(iv) other event as determined by the first information source;

wherein, within the advanced messaging system, the second information source is identified as a destination for the selected information, wherein the selected information is transmitted to the second information source associated with the second identifier, the advanced messaging system transmits the selected information to the second information source on occurrence of at least one of the following;

(i) on receipt of selected information from first information source;

(ii) on receipt of request from the second information source for delivery of selected information;

(iii) at a specified date/time as determined by the advanced messaging system and/or the second information source; and

,

(iv) other event as determined by the advanced messaging system.

55. The network of claim 54 wherein a transaction sequence comprises at least one transaction selected from the group consisting of:

(i) from the financial to the institution payee, transmitting a geographic region code for the payee to determine any appropriate tax or shipping costs;

(ii) from the payee to the financial institution, transmitting an amount to be transferred;

(iii) from the financial institution to the advanced messaging system, transmitting a list of available account names for the customer at the financial institution, and appropriate available balances;

(iv) from the financial institution to the payee, transmitting an authorization approval for funds to be delivered to the payee;

(v) from the financial institution to the payee, transmitting customer contact information to enable delivery of goods to the customer;

(vi) from the payee to the financial institution, transmitting a notification of delivery of goods/services to the customer; and

,

(vii) from the financial institution to the payee, transmitting a notification of delivery of funds.

56. The network of claim 55 wherein the selected customer account is selected at the financial institution.

57. The network of claim 55 wherein the selected customer account is selected at the advanced messaging system.

58. The network of claim 55 wherein the selected customer account represents a previously designated customer account from which funds are to be obtained.

59. The network of claim 58 wherein the previously designated customer account is the only account of the customer at the financial institution.

60. A computerized advanced messaging system operable to be linked to a network including at least one financial institution and at least one payee, the advanced messaging system adapted to receive from the financial institution a financial institution customer identifier associated with customer account information on the financial institution, and the advanced messaging system being further adapted to receive from the payee a payee customer identifier associated with customer account information on the payee, and the advanced messaging system operable to selectively link the financial institution customer identifier and payee customer identifier thus forming a connection between the customer account information on the financial institution and payee such that at least one transaction associated with each of the financial institution, the payee, and the customer is permitted, and wherein the advanced messaging system is further adapted to arrange for delivery of funds from at least one customer account at the financial institution to the payee.

61. The network of claim 60 wherein the customer account information at the payee is purchase order information, and the payee customer identifier is an order identifier.

62. The advanced messaging system of claim 60 further adapted in processing a transaction to receive selected information from a first information source associated with a first identifier, the advanced messaging system operable to identify a second information source as the destination for the selected information, and send the selected information to the second information source such that it is associated with the second identifier.

63. The advanced messaging system of claim 62 wherein a transaction sequence comprises at least one transaction selected from the group consisting of:

(i) from the financial to the institution payee, transmitting a geographic region code for the payee to determine any appropriate tax or shipping costs;

(ii) from the payee to the financial institution, transmitting an amount to be transferred;

(iii) from the financial institution to the advanced messaging system, transmitting a list of available account names for the customer at the financial institution, and appropriate available balances;

(iv) from the financial institution to the payee, transmitting an authorization approval for funds to be delivered to the payee;

(v) from the financial institution to the payee, transmitting customer contact information to enable delivery of goods to the customer;

(vi) from the payee to the financial institution, transmitting a notification of delivery of goods/services to the customer; and

,

(vii) from the financial institution to the payee, transmitting a notification of delivery of funds.

64. A method of permitting a transaction on a network, comprising:

at at least one financial institution within the network, associating customer account information with a customer and associating a financial institution customer identifier with the customer account information;

at at least one payee within the network, associating customer account information with a customer and associating a payee customer identifier with the customer account information;

at the financial institution, the customer requesting the transmitting of the financial institution customer identifier to an advanced messaging system within the network, the financial institution transmitting the financial institution customer identifier to the advanced messaging system;

at the payee, the customer requesting the transmitting of the payee customer identifier to the advanced messaging system, the payee transmitting the payee customer identifier to the advanced messaging system;

within the advanced messaging system, selectively linking the financial institution customer identifier and the payee customer identifier thus forming a connection between the customer account information on the financial institution and payee to thereby permit at least one transaction associated with each of the financial institution, the payee and the customer; and

,

wherein within the advanced messaging system, arranging for delivery of funds from the at least one customer account at the financial institution to the payee.

65. The network of claim 64 wherein the customer account information at the payee is purchase order information, and the payee customer identifier is an order identifier.

66. The method of claim 64 wherein a transaction comprising:

at a first information source, the customer requesting the delivery of selected information to the advanced messaging system, the first information source transmitting the selected information to the advanced messaging system such that the selected information is associated with a first identifier; and

,

within the advanced messaging system, identifying a second information source as a destination for the selected information, transmitting the selected information to the second information source associated with a second identifier.

67. The advanced messaging system of claim 64 wherein a transaction sequence comprises at least one transaction selected from the group consisting of:

(i) from the financial to the institution payee, transmitting a geographic region code for the payee to determine any appropriate tax or shipping costs;

(ii) from the payee to the financial institution, transmitting an amount to be transferred;

(iii) from the financial institution to the advanced messaging system, transmitting a list of available account names for the customer at the financial institution, and appropriate available balances;

(iv) from the financial institution to the payee, transmitting an authorization approval for funds to be delivered to the payee;

(v) from the financial institution to the payee, transmitting customer contact information to enable delivery of goods to the customer;

(vi) from the payee to the financial institution, transmitting a notification of delivery of goods/services to the customer; and

,

(vii) from the financial institution to the payee, transmitting a notification of delivery of funds.

68. A financial institution within a network, the financial institution adapted to be linked to at least one computerized advanced messaging system and wherein, at the financial institution a financial institution customer identifier is associated with customer account information that is associated with the customer, and wherein on request of the customer the financial institution is operable to transmit the financial institution customer identifier to the advanced messaging system, the financial institution customer identifier adapted to be linked with a payee customer identifier within the advanced messaging system, the payee customer identifier being associated with customer information associated with the customer on a payee, and wherein the linking of the financial institution customer identifier and the payee customer identifier within the advanced messaging system thus forms a connection between the customer account information on the financial institution and the payee that enables a transaction between the financial institution, the payee and the customer, and wherein within the financial institution funds are transferred from at least one customer account such that funds will be received at the payee.

69. The network of claim 68 wherein the customer account information at the payee is purchase order information, and the payee customer identifier is an order identifier.

70. The financial institution of claim 68 wherein:

the customer can request delivery of first selected information to the advanced messaging system, the financial institution is operable to transmit the first selected information associated with the financial institution customer identifier to the advanced messaging system, the payee identified as a destination for the first selected information within the advanced messaging system, and wherein the first selected information transmitted from the advanced messaging system to the payee associated with the payee customer identifier; and

,

the customer can request receipt of second selected information from the advanced messaging system, the financial institution is operable to receive the second selected information associated with the financial institution customer identifier from the advanced messaging system, the financial institution identified as a destination for the second selected information within the advanced messaging system, and wherein the second selected information transmitted from the advanced messaging system to the financial institution associated with the financial institution customer identifier.

71. The financial institution of claim 70 wherein the transaction sequence comprises at least one transaction selected from the group consisting of:

(i) the first selected information being a geographic region code for the payee to determine any appropriate tax or shipping costs;

(ii) the second selected information being an amount to be transferred;

(iii) the first selected information being a list of available account names for the customer at the financial institution, and appropriate available balances;

(iv) the first selected information being an authorization approval for funds to be delivered to the payee;

(v) the first selected information being customer contact information to enable delivery of goods to the customer;

(vi) the second selected information being a notification of delivery of goods/services to the customer; and

,

(vii) the first selected information being a notification of delivery of funds.

72. A payee within a network, the payee adapted to be linked to an advanced messaging system and wherein, at the payee a payee customer identifier is associated with customer account information that is associated with the customer, and wherein on request of the customer the payee is operable to transmit the payee customer identifier to the advanced messaging system, the payee customer identifier adapted to be linked with a financial institution customer identifier within the advanced messaging system, the financial institution customer identifier being associated with customer information associated with the customer on a financial institution, and wherein the linking of the financial institution customer identifier and the payee customer identifier within the advanced messaging system thus forms a connection between the customer account information on the financial institution and the payee that enables a transaction between the financial institution, the payee and the customer, and wherein within the payee funds are transferred from at least one customer account at the financial institution such that funds will be received at the payee.

73. The network of claim 72 wherein the customer account information at the payee is purchase order information, and the payee customer identifier is an order identifier.

74. The payee of claim 72 wherein:

the customer can request delivery of first selected information to the advanced messaging system, the payee is operable to transmit the first selected information associated with the payee customer identifier to the advanced messaging system, the financial institution identified as a destination for the first selected information within the advanced messaging system, and wherein the first selected information transmitted from the advanced messaging system to the financial institution associated with the financial institution customer identifier; and

,

the customer can request receipt of second selected information from the advanced messaging system, the payee is operable to receive the second selected information associated with the payee customer identifier from the advanced messaging system, the payee identified as a destination for the second selected information within the advanced messaging system, and wherein the second selected information transmitted from the advanced messaging system to the payee associated with the payee customer identifier.

75. The payee of claim 74 wherein the transaction sequence comprises at least one additional transaction selected from the group consisting of:

(i) the second selected information being a geographic region code for the payee to determine any appropriate tax or shipping costs;

(ii) the first selected information being an amount to be transferred;

(iii) the second selected information being a list of available account names for the customer at the financial institution, and appropriate available balances;

(iv) the second selected information being an authorization approval for funds to be delivered to the payee;

(v) the second selected information being customer contact information to enable delivery of goods to the customer;

(vi) the first selected information being a notification of delivery of goods/services to the customer; and

,

(vii) the second selected information being a notification of delivery of funds.