PAY YOURSELF FIRST WITH REVENUE GENERATION

• US 20110004514A1
• Filed: 08/06/2010
• Published: 01/06/2011
• Est. Priority Date: 11/06/2000
• Status: Abandoned Application

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Consumer and Merchant Awareness Foundation
• Inventors: Thomas, Tracey R.
• Application Number:
  US12/852,122
• Publication Number:
  US 20110004514A1
• Time in Patent Office: Days
• US Class Current: 705/14.17
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/384 using social networks
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The system identifies a revenue producing opportunity for a user. The system obtains information related to the user'"'"'s income, income sources, user'"'"'s debts (e.g., bills) and user'"'"'s goals. The system identifies a revenue producing opportunity for the user by matching user information with information regarding the opportunities. The system further provides recommendations related to the prioritization of paying certain bills and the amount to pay for each bill based upon, for example, savings goals, a community recommendation, minimizing penalties/fees associated with user'"'"'s debts, minimum amounts due, due dates and available income. The system and/or the user may then determine a payment hierarchy which includes transferring funds to the user'"'"'s savings account prior to paying all or a portion of certain bills, wherein the transfer of funds may include different funds transfer systems and methods.

Claims

1. A method comprising:

receiving, by a computer-based system for determining a layaway amount and a payment hierarchy, layaway information for a layaway transaction;

determining, by the computer-based system, the layaway amount based upon the layaway information, wherein the layaway amount is transferred from a user account;

analyzing, by the computer-based system, user debt information to determine a plurality of pending debt payments;

determining, by the computer-based system, a plurality of penalties by analyzing a penalty for each of the plurality of pending debt payments;

determining, by the computer-based system, the payment hierarchy based upon the layaway amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy minimizes the plurality of penalties.

2. The method of claim 1, wherein the layaway information comprises a product and a purchaser, wherein the purchaser is associated with the user account.

3. The method of claim 2, wherein the layaway information further comprises a merchant.

4. The method of claim 1, wherein the layaway amount is transferred to a merchant.

5. The method of claim 1, wherein the layaway amount is transferred to a user savings account.

6. The method of claim 1, wherein, in response to the layaway amount being transferred, the merchant provides a reward to a purchaser associated with the layaway transaction.

7. The method of claim 6, wherein the reward comprises at least one of a discount for the layaway transaction, a credit for a subsequent purchase and a credit to a loyalty account.

8. The method of claim 6, wherein the reward comprises making a deposit to a savings account associated with the purchaser.

9. The method of claim 1, wherein, in response to the layaway transaction being completed, at least one of a merchant and a manufacturer provides a reward to a purchaser associated with the layaway transaction.

10. The method of claim 1, further comprising determining based upon user income information, user goal information and the user debt information, a savings amount, wherein the savings amount is transferred to a user savings account.

11. The method of claim 10, wherein the determining the layaway amount is based upon the savings amount.

12. The method of claim 10, wherein the determining the payment hierarchy is based upon the savings amount, the plurality of pending debt payments, and the plurality of penalties, wherein the determining the layaway amount is performed in response to the determining the payment hierarchy and the determining the payment hierarchy comprises the determining the layaway amount, wherein the payment hierarchy prioritizes the transfer of the layaway amount while minimizing the plurality of penalties.

13. The method of claim 1, wherein the receiving layaway information comprises receiving the layaway information from at least one of a merchant, a user, a shopping web site and a social networking website.

14. The method of claim 1, wherein the layaway information comprises gift list information associated with a second user, wherein a first user is associated with the user account.

15. The method of claim 1, further comprising receiving user income information and user goal information.

16. The method of claim 15, wherein the payment hierarchy is based further upon at least one of the user income information, the user goal information and the user debt information.

17. The method of claim 1, wherein the determining the layaway amount is based upon community knowledge associated with purchasing habits within the community.

18. The method of claim 17, wherein the community knowledge comprises, for a plurality of users, at least one of purchasing strategies, savings strategies, transaction histories, demographics, merchant information, debtor information, debt history, debtors, timeframes, payment terms, payment histories, penalty histories, penalty amounts, penalty rules, debt obligations, savings goals, savings accomplishments, survey results and user recommendations.

19. The method of claim 1, further comprising sending, in response to the layaway amount being transferred, to a merchant associated with the layaway transaction at least one of a report, a text message, an email and a message via a social networking site.

20. A system, comprising:

a network interface communicating with a memory;

the memory communicating with a processor; and

the processor, when executing a computer program, is configured to;

receive layaway information for a layaway transaction;

determine a layaway amount based upon the layaway information wherein the layaway amount is transferred from a user account;

analyze user debt information to determine a plurality of pending debt payments;

determine a plurality of penalties by analyzing a penalty for each of the plurality of pending debt payments;

determine a payment hierarchy based upon the layaway amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy minimizes the plurality of penalties.

21. A non-transitory computer-readable medium having computer-executable instructions stored thereon that, if executed by a computer-based system for determining a layaway amount and a payment hierarchy, cause the computer-based system to perform operations comprising:

receiving, at a computer, layaway information for a layaway transaction;

determining, by the computer-based system, the layaway amount based upon the layaway information wherein the layaway amount is transferred from a user account;

analyzing, by the computer-based system, user debt information to determine a plurality of pending debt payments;

determining, by the computer-based system, a plurality of penalties by analyzing a penalty for each of the plurality of pending debt payments;

determining, by the computer-based system, the payment hierarchy based upon the layaway amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy minimizes the plurality of penalties.