CUSTOMIZABLE PAYMENT AND METHOD
First Claim
1. A method for facilitating automated and secure payment, comprising the steps of:
- determining whether a payee is a registered entity;
accessing payment information for the payee upon a determination that the payee is a registered entity;
directing an automated payment to the payee based upon the payment information pre-determined payee and payer payment rules;
creating a record of payments to the payee that is accessible to the registered payee; and
sending the payee a notification that payment was made to the payee.
4 Assignments
0 Petitions
Accused Products
Abstract
The invention provides a system and method for facilitating secure payments to a payee. In accordance with the invention, a payee can enroll and/or register with a customized account processing center (CAPC). The CAPC can include payment information about the payee, such as the payee'"'"'s account number and the payee'"'"'s preferred payment format. When a payee is registered and elects payment via electronic funds transfer, the CAPC issues instructions to the bank to transfer funds from the payer'"'"'s bank account to the payee'"'"'s bank account which may be at the same bank or at a different bank. The CAPC can also create a detailed record of payment histories which are accessible to the payee. The CAPC also can send a notification to the payee when a payment is made.
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Citations
24 Claims
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1. A method for facilitating automated and secure payment, comprising the steps of:
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determining whether a payee is a registered entity; accessing payment information for the payee upon a determination that the payee is a registered entity; directing an automated payment to the payee based upon the payment information pre-determined payee and payer payment rules; creating a record of payments to the payee that is accessible to the registered payee; and sending the payee a notification that payment was made to the payee. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A system for automated and secure payment, comprising:
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a customized account processing engine including a request for payment module, the request from payment module receiving at least one request for making payment to at least one payee; a payment processing module for facilitating payment to the at least one payee based upon the at least one request for making payment, the payment processing module also sending a notification to the at least one payee upon payment; and and a records module for creating a record of all payments to the at least one payee - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification