AUTOMATED PAYMENT TRANSACTION SYSTEM

• US 20100205091A1
• Filed: 10/13/2009
• Published: 08/12/2010
• Est. Priority Date: 10/22/2004
• Status: Abandoned Application

• Current Assignee: Zevez Payments Incorporated
• Original Assignee: Zevez Payments Incorporated
• Inventors: Friede, Karla, Graziano, Joseph M., Pease, David G., Law, Tana
• Application Number:
  US12/578,343
• Publication Number:
  US 20100205091A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

A secure system for using credit card accounts to cause payment into an account of said vendor on behalf of said vendor.

Claims

1. A system resident on an electronic storage medium that interacts with a computing device to automatically execute instructions of said system, said system comprising:

(a) a first subsystem that jointly processes plural credit card transactions specified by a payor, each transaction specifying independent payments to a respective at least one vendor;

(b) a second subsystem that retrieves a stored identifier for an account of a said at least one vendor; and

(c) a third subsystem that uses said stored identifier to cause payment in said account of said respective at least one vendor.

2. The system of claim 1 where said identifier includes a merchant account number.

3. The system of claim 2 where said identifier includes an identification of a financial institution that administers said account.

4. The system of claim 1 where said payment is made without divulging credit card information to said vendor.

5. The system of claim 1 where said third system interacts with an acquiring bank of said vendor.

6. The system of claim 1 where said third subsystem interacts with ECHO.

7. The system of claim 1 where said third subsystem completes an ACH transaction.

8. The system of claim 1 where said third system obtains an electronic verification of said payment and transmits said verification to said vendor.

9. The system of claim 1 where said third subsystem makes payment of the transaction to said respective at least one vendor electronically.

10. The system of claim 1 where said third subsystem generates a paper authorization for the transaction to said respective at least one vendor.

11. A system resident on an electronic storage medium that interacts with a computing device to automatically execute instructions of said system, said system comprising:

(a) a first subsystem that processes a credit card transaction specified by a payor to a merchant;

(b) a second subsystem that retrieves an identifier for an account of said merchant stored on a web site of said merchant;

(c) a third subsystem that uses said stored identifier to cause electronic payment in said account of said merchant; and

(d) a fourth subsystem that transmits confirmation of said payment to said merchant.

12. The system of claim 11 integrated into a web browser.

13. The system of claim 11 where said identifier includes a merchant account number.

14. The system of claim 13 where said identifier includes an identification of a fmancial institution that administers said account.

15. The system of claim 11 where said payment is made without divulging credit card information to said vendor.

16. A system resident on an electronic storage medium that interacts with a computing device to automatically execute instructions of said system, said system comprising:

(a) a first subsystem that processes a credit card transaction specified by a payor to a merchant;

(b) a second subsystem that retrieves from a web site of said merchant, an identifier for an Internet Gateway that said merchant uses to process electronic credit card payments; and

(c) a third subsystem that uses said gateway to cause electronic payment to said merchant.

17. The system of claim 16 where said identifier is a web address.

18. The system of claim 17 including a fourth subsystem that compares the retrieved said web address to a database of web addresses prior to causing said electronic payment.

19. The system of claim 16 where said second subsystem retrieves a merchant account number from said web site of said merchant,

20. The system of claim 16 where said payment is made without divulging credit card information to said vendor.