SYSTEMS AND METHODS FOR STAGING TRANSACTIONS, PAYMENTS AND COLLECTIONS
First Claim
1. A method for accepting a payment from a consumer for monies owed by the consumer to a lender pursuant to a financial relationship between the consumer and the lender, the method comprising:
- receiving a promise-to-pay record from a lender system operated by the lender at a payment service provider system operated by a payment service provider distinct from the lender, the record comprising a set of identifiers forming a database, the database comprising existing promise-to-pay accounts, the set of identifiers being formatted into a consumer database, the consumer database being operated by the payment service provider, the promise-to-pay record identifying at least a payment amount and including a transaction identifier of the set of identifiers;
receiving, at the payment service provider system, a record of receipt of a payment from a stored value account identified by the consumer to the payment service provider, the record of receipt identifying a paid amount and including a purported identifier provided by the consumer wherein the consumer is physically present at a payment service provider location when making the payment;
associating the record of receipt of the payment with the promise-to-pay record at the payment service provider system, wherein associating the record of the payment with the promise-to-pay record comprises matching the purported transaction identifier provided by the consumer with the transaction identifier included in the promise-to-pay record;
sending a notice from the payment service provider system to the lender system, the notice comprising an indicator that the payment has been received, the indicator identifying the paid amount; and
initiating, with the payment service provider system, an electronic funds transfer of at least a portion of the paid amount to control of the lender in response to receipt of the payment by the payment service provider.
3 Assignments
0 Petitions
Accused Products
Abstract
The present invention relates to systems and methods for staging transactions and facilitating payments by consumers to a lender or merchant to consummate a financial transaction and/or to maintain a financial relationship. In one embodiment, a method for accepting payments from a consumer includes receiving a promise-to-pay record from a lender (210), receiving a payment from the consumer (220), associating the payment with the promise-to-pay record (230), and sending a notice to the lender (240), with the notice having an indicator that the payment has been received.
140 Citations
14 Claims
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1. A method for accepting a payment from a consumer for monies owed by the consumer to a lender pursuant to a financial relationship between the consumer and the lender, the method comprising:
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receiving a promise-to-pay record from a lender system operated by the lender at a payment service provider system operated by a payment service provider distinct from the lender, the record comprising a set of identifiers forming a database, the database comprising existing promise-to-pay accounts, the set of identifiers being formatted into a consumer database, the consumer database being operated by the payment service provider, the promise-to-pay record identifying at least a payment amount and including a transaction identifier of the set of identifiers;
receiving, at the payment service provider system, a record of receipt of a payment from a stored value account identified by the consumer to the payment service provider, the record of receipt identifying a paid amount and including a purported identifier provided by the consumer wherein the consumer is physically present at a payment service provider location when making the payment;
associating the record of receipt of the payment with the promise-to-pay record at the payment service provider system, wherein associating the record of the payment with the promise-to-pay record comprises matching the purported transaction identifier provided by the consumer with the transaction identifier included in the promise-to-pay record;
sending a notice from the payment service provider system to the lender system, the notice comprising an indicator that the payment has been received, the indicator identifying the paid amount; and
initiating, with the payment service provider system, an electronic funds transfer of at least a portion of the paid amount to control of the lender in response to receipt of the payment by the payment service provider. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for staging a transaction involving a payment from a customer for monies owed by the customer to a lender pursuant to a financial relationship between the customer and the lender, the method comprising:
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receiving, at a lender system operated by the lender, a promise-to-pay a specified payment amount from the customer;
creating a promise-to-pay record with the lender system, the promise-to-pay record including the specified payment amount and an expiration time;
transmitting the promise-to-pay record to a payment service provider system operated by payment service provider distinct from the lender, the record comprising at least one identifier forming a database, the database comprising existing promise-to-pay accounts associated with a set of identifiers, the identifiers being formatted into a consumer database, the consumer database being operated by the payment service provider, the promise-to-pay record identifying a payment amount and a transaction identifier of the set of identifiers;
receiving, at the payment service provider system, a record of receipt of a payment from a stored value account identified by the consumer to the payment service provider, the record of receipt identifying a paid amount and including a purported identifier provided by the consumer;
receiving a notice of payment at the lender system from the payment service provider system if the payment service provider received from the customer a payment that equals or exceeds the payment amount prior to the expiration time; and
electronically receiving with the lender system a transfer of at least a portion of the payment amount pursuant to an electronic funds transfer initiated by the payment service provider system in response to receipt of the payment by the payment service provider. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14)
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Specification