SYSTEMS AND METHODS FOR MAKING PAYMENTS FROM SELECTED FUNDING SOURCES

• US 20100017302A1
• Filed: 07/21/2008
• Published: 01/21/2010
• Est. Priority Date: 07/21/2008
• Status: Active Grant

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Scipioni, German
• Granted Patent: US 8,255,303 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping 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 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Systems and methods for operating a payment service provider include storing information associating the identity of a buyer with a plurality of the buyer'"'"'s payment source accounts and a plurality of personal identity numbers (PINs) respectively associated therewith in a database of the payment service provider. Upon receipt of an authorization from the buyer that includes a specified payment amount and the associated PIN of the selected buyer'"'"'s account from which the payment is to be made, a transaction device of the service provider is operable to effect a transfer of the specified payment amount from the selected buyer'"'"'s account to the designated seller'"'"'s account.

Claims

1. A method for operating a payment service provider, the method comprising:

storing information associating the identity of a buyer with a plurality of the buyer'"'"'s payment source accounts and a plurality of personal identity numbers (PINs) respectively associated therewith in a database of the payment service provider;

receiving an authorization from the buyer to make a payment from a selected one of the buyer'"'"'s payment source accounts to a designated seller'"'"'s payment depository account, the authorization including a specified payment amount and the associated PIN of the selected buyer'"'"'s account from which the payment is to be made; and

,

effecting a transfer of the specified payment amount from the selected buyer'"'"'s account to the designated seller'"'"'s account.

2. The method of claim 1, further comprising verifying the buyer'"'"'s identity before effecting the transfer.

3. The method of claim 1, further comprising determining whether the selected buyer'"'"'s payment account has sufficient funds to effect the transfer of the specified payment amount before effecting the transfer.

4. The method of claim 1, wherein the identity of the designated seller'"'"'s payment depository account is provided by a transaction device of the seller or a transaction device of the buyer,

5. The method of claim 1, wherein the transfer of the specified payment amount is effected by the payment service provider electronically through a payment clearing device and an associated electronic funds transfer (EFT) network.

6. A method for enabling a seller to receive a payment from a buyer, the method comprising:

providing a seller'"'"'s transaction device provisioned with the identity of a seller'"'"'s payment depository account designated to receive the payment, that is operable to communicate with respective transaction devices of the buyer and a payment service provider, and that includes means for the buyer to input a PIN associated with a selected one of a plurality of the buyer'"'"'s payment source accounts from which the payment is to be made;

communicating with the buyer'"'"'s transaction device to obtain the respective identities of the buyer and the service provider therefrom;

communicating with the service provider'"'"'s transaction device to upload the identity of the buyer, the designated seller'"'"'s payment depository account and the amount of the payment thereto;

inputting the PIN of the selected buyer'"'"'s payment source account to the transaction device of the payment service provider; and

,

effecting a transfer of the specified payment amount from the selected buyer'"'"'s account to the designated seller'"'"'s account.

7. The method of claim 6, further comprising:

using the buyer'"'"'s transaction device to input a password of the buyer to the transaction device of the payment service provider; and

,

verifying the identity of the buyer with the password.

8. The method of claim 6, wherein the buyer'"'"'s transaction device comprises a payment card and the seller'"'"'s transaction device comprises a card reader.

9. The method of claim 6, wherein the seller'"'"'s transaction device comprises an automated teller machine (ATM).

10. The method of claim 6, wherein:

the buyer'"'"'s transaction device comprises a mobile telephone, a personal digital assistant (PDA) or a personal computer (PC) provided with a web browser and a communication device coupled to the internet,

the seller'"'"'s transaction device comprises a web server located remotely from the buyer'"'"'s device, equipped with a communication device coupled to the internet and adapted to host a web-based marketplace for the sale or auction of goods and services, and

the method further comprises the buyer remotely accessing payment application software provided on the web server to effect the payment.

11. A method for enabling a buyer to make a payment to a seller, the method comprising:

transmitting the respective identities of the buyer and a designated payment depository account of the seller to a payment service provider operable to effect a transfer of funds from respective ones of a plurality of payment source accounts of the buyer to the designated seller'"'"'s account;

authorizing the payment service provider to make a payment of a specified amount from a selected one of the buyer'"'"'s payment source accounts to the designated seller'"'"'s payment depository account; and

,

inputting a personal identification number (PIN) associated with the selected buyer'"'"'s account to the service provider.

12. The method of claim 11, further comprising:

inputting a password of the buyer to the payment service provider; and

,

verifying the identity of the buyer with the password.

13. The method of claim 11, further comprising:

determining whether the selected buyer'"'"'s payment source account has sufficient funds to effect the transfer of the specified payment amount, and

if the selected buyer'"'"'s payment account does not have sufficient funds to effect the transfer, returning an insufficient funds message to the buyer.

14. The method of claim 13, further comprising:

prompting the buyer for the entry of PIN of an alternate buyer'"'"'s payment source account from which to make the payment.

15. The method of claim 13, further comprising:

prompting the buyer for the entry of the respective PINs of additional payment source accounts; and

,

effecting the payment from a combination of the additional payment source accounts.

16. The method of claim 11, further comprising:

confirming that the specified payment amount has been transferred from the selected buyer'"'"'s payment source account to the designated seller'"'"'s payment depository account;

transmitting a payment successful message to at least one of the buyer and the seller; and

,

storing details of the payment transaction in a database.

17. A payment service provider, comprising:

a database storing information associating a buyer'"'"'s identity with a plurality of the buyer'"'"'s payment source accounts and personal identification numbers (PINs) respectively associated therewith; and

,

a payment service transaction device operable to communicate with respective transaction devices of the buyer and a seller and to effect a transfer of a specified payment amount from a selected one of the buyer'"'"'s payment source accounts to a designated seller'"'"'s payment depository account in response to the receipt of an authorization therefor from the buyer that includes the specified payment amount and the associated PIN of the selected buyer'"'"'s payment source account.

18. The service provider of claim 17, wherein the service provider transaction device comprises a server operable to communicate with the transaction devices of at least one of the buyer and the seller via a public or a private data communication network.

19. The service provider of claim 18, wherein the data communication network comprises a public switched telephone network (PSTN) or the internet.

20. The service provider of claim 17, wherein the payment service transaction device effects the transfer of the specified payment amount via a clearing house transaction device and an associated electronic funds transfer (EFT) network.