METHODS AND APPARATUS FOR USING ASSIGNABLE FEE PROFILES TO DEFINE FEE STRUCTURES FOR REMITTANCE SERVICES

• US 20080249911A1
• Filed: 12/05/2007
• Published: 10/09/2008
• Est. Priority Date: 04/06/2007
• Status: Active Grant

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Chan, David, Lim, Samuel, Sridhar, Rama
• Granted Patent: US 8,676,681 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method includes storing a plurality of service fee profiles. Each of the profiles is for associating a respective service fee level with each of a plurality of transaction amount tiers. The method further includes, after the storing step, selecting a pair of currencies. The pair of currencies includes a sender currency and a recipient currency. The method also includes assigning one of the stored service fee profiles to the selected pair of currencies to set up a service fee schedule for the selected pair of currencies.

Claims

1. A method comprising:

storing a plurality of service fee profiles, each of said profiles for associating a respective service fee level with each of a plurality of transaction amount tiers;

after said storing, selecting a pair of currencies, the pair of currencies including a sender currency and a recipient currency; and

assigning one of said stored service fee profiles to the selected pair of currencies to set up a service fee schedule for the selected pair of currencies, said service fee schedule for international remittance transactions that involve the selected pair of currencies.

2. The method of claim 1, wherein:

each of said transaction amount tiers is defined by (a) a respective tier start currency amount, and (b) a respective tier end currency amount.

3. The method of claim 1, wherein said profiles are stored in a data storage component of a computer.

4. The method of claim 1, wherein each of said currencies is selected by selecting said each of said currencies from a respective pull down menu.

5. The method of claim 1, wherein said sender currency is the same as the recipient currency.

6. The method of claim 1, wherein said sender currency is different from the recipient currency.

7. A method comprising:

storing a plurality of service fee profiles, each of said profiles for associating a respective service fee level with each of a plurality of transaction amount tiers;

after said storing, defining a currency remittance channel, the currency remittance channel including a sender country, a sender currency, a recipient country and a recipient currency; and

assigning one of said stored service fee profiles to the defined currency remittance channel to set up a service fee schedule for the defined currency remittance channel, said service fee schedule for international remittance transactions that involve the sender currency and the recipient currency.

8. The method of claim 7, wherein:

each of said transaction amount tiers is defined by (a) a respective tier start currency amount, and (b) a respective tier end currency amount.

9. The method of claim 7, wherein said profiles are stored in a data storage component of a computer.

10. The method of claim 7, wherein said defining step includes:

selecting said sender country from a first pull down menu;

selecting said sender currency from a second pull down menu;

selecting said recipient country from a third pull down menu; and

selecting said recipient currency from a fourth pull down menu.

11. The method of claim 7, wherein said sender currency is the same as the recipient currency.

12. The method of claim 7, wherein said sender currency is different from the recipient currency.

13. An apparatus comprising:

a processor; and

a memory device in communication with the processor and storing program instructions, the processor operative with the program instructions to;

store a plurality of service fee profiles, each of said profiles for associating a respective service fee level with each of a plurality of transaction amount tiers;

after said storing, define a currency remittance channel, the currency remittance channel including a sender country, a sender currency, a recipient country and a recipient currency; and

assign one of said stored service fee profiles to the defined currency remittance channel to set up a service fee schedule for the defined currency remittance channel, said service fee schedule for international remittance transactions that involve the sender currency and the recipient currency.

14. The apparatus of claim 13, wherein:

each of said transaction amount tiers is defined by (a) a respective tier start currency amount, and (b) a respective tier end currency amount.

15. The apparatus of claim 13, wherein said profiles are stored in a data storage component of a computer.

16. The apparatus of claim 13, wherein said defining function includes:

selecting said sender country from a first pull down menu;

selecting said sender currency from a second pull down menu;

selecting said recipient country from a third pull down menu; and

selecting said recipient currency from a fourth pull down menu.

17. The apparatus of claim 13, wherein said sender currency is the same as the recipient currency.

18. The apparatus of claim 13, wherein said sender currency is different from the recipient currency.