INTER-NETWORK INVOICING PAYMENT METHOD AND SYSTEM

• US 20110264583A1
• Filed: 04/22/2011
• Published: 10/27/2011
• Est. Priority Date: 04/22/2010
• Status: Abandoned Application

• Current Assignee: CashEdge Incorporated (Fiserv Incorporated)
• Original Assignee: CashEdge Incorporated (Fiserv Incorporated)
• Inventors: Dheer, Sanjeev, Cooper, David, Palmieri, Catherine, Bhagavatula, Krishna, Lovelett, John
• Application Number:
  US13/092,908
• Publication Number:
  US 20110264583A1
• 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 20/326 Payment applications installed on the mobile devices
• CPC Class Codes: G06Q 30/04 Billing or invoicing

Abstract

An inter-bank email and mobile invoicing network is disclosed. Embodiments disclosed herein include an inter-bank email and mobile invoicing network that enables customers of banks or independent portals to send invoices to an email address or mobile phone number. The invoice can be received by the recipient within their bank'"'"'s online or mobile banking site, in the case of banks that belong to a network that is managed by the proprietors of a financial management system and payment hub as disclosed herein. These banks will be referred to as “network banks” herein. The inter-bank invoicing network also refers to a common provider or connected providers of an invoicing and payment service that is linked to banks and to independent service providers.

Claims

1. A payment method comprising:

a payment network hub receiving an invoice from a sender, wherein the invoice includes an identification of a recipient;

the payment network hub determining whether the recipient is registered at a financial institution that is in the payment network; and

if the recipient is not registered at a financial institution that is in the payment network, communicating to the recipient that the invoice is available.

2. The method of claim 1, wherein the identification is an email address.

2a. a. The method of claim 1, wherein the identification is a mobile phone number.

3. The method of claim 1, wherein communicating further comprises sending the recipient and email inviting the recipient to register at the payment network hub and receive the invoice.

4. The method of claim 3, further comprising paying the invoice on behalf on the recipient.

4a. a. The method of claim 3, wherein paying the invoice further comprises:

executing an international financial transaction;

performing foreign exchange conversion; and

collecting fees associated with the international financial transaction.

5. The method of claim 4, wherein paying the invoice comprises using one or more of:

a recipient bank account;

a recipient credit card;

a recipient debit card; and

a recipient pre-paid card.

6. The method of claim 1, further comprising if the recipient is registered at a financial institution that is in the payment network.

6a. a. The method of claim 6, wherein if the recipient is registered at a financial institution that is in the payment network, the method further comprises determining whether the recipient is registered at multiple financial institution that are in the payment network.

7. The method of claim 6a, further comprising:

if the recipient is registered at multiple sites, displaying the invoice at each site; and

receiving payment instructions from the recipient.

8. The method of claim 7, wherein payment instructions comprise instructions to make the payment from more than one account.

9. The method of claim 7, further comprising:

in response to the instruction, executing an international financial transaction;

performing foreign exchange conversion; and

collecting fees associated with the international financial transaction.

10. The method of claim 1, wherein the payment network hub receiving an invoice from a sender comprises the sender communicating with the hub using a software application downloaded to a mobile device, wherein the mobile device comprises a smartphone and a personal computer.

11. The method of claim 1, wherein the sender comprises a business entity.

12. The method of claim 1, wherein the sender comprises an individual.

13. The method of claim 1, wherein the sender comprises an independent payment portal.

14. An inter-bank email and invoicing system, comprising:

an inter-bank email and invoicing network coupled to the internet, the network comprising;

a plurality of databases configurable to store data comprising financial data related to multiple financial institutions, data related to multiple users wherein users include account holders at financial institution, data related to members of the network, and data related to independent payment portals that are not members of the network;

a plurality of servers configurable to communicate via the Internet and to process data within the system; and

an internetworked payment hub configurable to,

receive an invoice from a sender, wherein the invoice includes an identification of a recipient;

the payment hub determining whether the recipient is registered at a financial institution that is a member of the network; and

if the recipient is not registered at a financial institution that a member of the network, communicating to the recipient that the invoice is available