Systems and Methods for Facilitating Transactions Involving an Intermediary

• US 20090048887A1
• Filed: 09/30/2008
• Published: 02/19/2009
• Est. Priority Date: 11/05/1999
• Status: Abandoned Application

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Bishop, Fred, Thomas, Tracey R., Sharma, Bansi L.
• Application Number:
  US12/242,842
• Publication Number:
  US 20090048887A1
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.

Claims

1. A method for a financial account issuer to facilitate a transaction for an intermediary between a first owner of a first financial account and a second owner of a second financial account, the method comprising:

receiving, from the intermediary and at the financial account issuer, a request to debit a first amount from the first financial account having a first identifier associated with the first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server;

receiving, from the intermediary and at the financial account issuer, a request to credit at least a portion of the first amount to the second financial account having a second identifier associated with the second financial account;

determining, by the financial account issuer, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent;

facilitating debiting, by the financial account issuer, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; and

,

facilitating crediting, by the financial account issuer, at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.

2. The method of claim 1, wherein the first amount comprises at least one of a monetary amount, a non-monetary amount, loyalty points, or monetary equivalent value.

3. The method of claim 1, further comprising depositing at least a portion of the first amount in an escrow account, prior to crediting at least a portion of the first amount to the second financial account.

4. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers.

5. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers associated with the intermediary.

6. The method of claim 1, further comprising receiving registration information from the intermediary.

7. The method of claim 1, further comprising receiving a selection of the type of at least one of the first financial account or the second financial account, to facilitate the transaction.

8. The method of claim 1, further comprising querying for more information from at least one of a first party associated with the first financial account or a second party associated with the second financial account.

9. The method of claim 1, further comprising retaining, by the financial account issuer, a portion of the first amount as a transaction fee.

10. The method of claim 1, further comprising debiting, by the financial account issuer, a transaction fee from at least one of the first financial account or the second financial account.

11. The method of claim 1, further comprising analyzing, at the financial account issuer, previous transactions associated with at least one of the first identifier or the second identifier.

12. The method of claim 1, wherein the first financial account and the second financial account belong to the same customer.

13. The method of claim 1, further comprising removing, by the financial account issuer, at least a portion of the first amount from the second financial account.

14. The method of claim 1, wherein the debiting is irrevocable.

15. The method of claim 1, further comprising tracking the debiting and crediting.

16. The method of claim 1, further comprising notifying at least one of a first party associated with the first financial account or a second party associated with the second financial account, in response to at least one of the debiting or the crediting.

17. The method of claim 1, further comprising providing proof of the transaction to at least one of a first party associated with the first financial account or a second party associated with the second financial account, in response to at least one of the debiting or the crediting.

18. The method of claim 1, further comprising facilitating dispute resolution between a first party associated with the first financial account and a second party associated with the second financial account.

19. A method for using a financial account issuer to facilitate a transaction for an intermediary between a first owner of a first financial account and a second owner of a second financial account, the method comprising:

sending, by the intermediary and to the financial account issuer, a first identifier associated with a first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server;

sending, by the intermediary and to the financial account issuer, a request to debit a first amount from the first financial account, wherein the financial account issuer determines if the request to debit the first financial account is fraudulent, and wherein the financial account issuer facilitates debiting the first amount from the first financial account if the request to debit the first financial account is not fraudulent;

sending, by the intermediary and to the financial account issuer, a second identifier associated with a second financial account; and

,

sending, by the intermediary and to the financial account issuer, a request to credit at least a portion of the first amount to the second financial account, wherein the financial account issuer determines if the request to credit the second financial account is fraudulent, and wherein the financial account issuer facilitates crediting at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.

20. A computer-readable medium having stored thereon a plurality of instructions for a financial account issuer to facilitate a transaction for an intermediary between a first owner of a first financial account and a second owner of a second financial account, the plurality of instructions comprising:

instructions to receive, from the intermediary and at the financial account issuer, a request to debit a first amount from the first financial account having a first identifier associated with the first financial account, wherein the financial account issuer issued the first financial account, and wherein the financial account issuer comprises a server;

instructions to receive, from the intermediary and at the financial account issuer, a request to credit at least a portion of the first amount to the second financial account having a second identifier associated with the second financial account;

instructions to determine, by the financial account issuer, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent;

instructions to facilitate debiting, by the financial account issuer, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; and

,

instructions to facilitate crediting, by the financial account issuer, at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.