System and Method of Recurring Payment Transactions
First Claim
1. A method of authenticating a recurring payment transaction, comprising:
- retrieving account information, by one or more processors of an adaptive payment server, the account information comprising a payment date and an identification of a communication device of a payor;
initiating a communication to the communication device on or before the payment date;
communicating at least a portion of the account information to the communication device;
receiving, from the communication device, approval information;
determining whether to initiate payment of the recurring payment transaction using the approval information; and
initiating payment of the recurring payment transaction based on the determination.
5 Assignments
0 Petitions
Accused Products
Abstract
A system and method for a recurring payment transaction is provided. A system of authenticating a recurring payment transaction may include an adaptive payment server that includes one or more processors configured to retrieve account information, which may include a payment date and an identification of a communication device of a payor. The adaptive payment server may initiate a communication to the communication device on or before the payment date and communicate at least a portion of the account information to the communication device. The adaptive payment server may receive, from the communication device, approval information and determine whether to initiate payment of the recurring payment transaction using the approval information. The adaptive payment server may initiate payment of the recurring payment transaction based on the determination.
51 Citations
20 Claims
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1. A method of authenticating a recurring payment transaction, comprising:
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retrieving account information, by one or more processors of an adaptive payment server, the account information comprising a payment date and an identification of a communication device of a payor; initiating a communication to the communication device on or before the payment date; communicating at least a portion of the account information to the communication device; receiving, from the communication device, approval information; determining whether to initiate payment of the recurring payment transaction using the approval information; and initiating payment of the recurring payment transaction based on the determination. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system of authenticating a recurring payment transaction, comprising:
an adaptive payment server comprising one or more processors configured to; retrieve account information, by one or more processors of the adaptive payment server, the account information comprising a payment date and an identification of a communication device of a payor; initiate a communication to the communication device on or before the payment date; communicate at least a portion of the account information to the communication device; receive, from the communication device, approval information; determine whether to initiate payment of the recurring payment transaction using the approval information; and initiate payment of the recurring payment transaction based on the determination. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
Specification