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METHOD AND SYSTEM FOR ON DEMAND DAILY DEAL SETTLEMENT

  • US 20140025445A1
  • Filed: 07/17/2012
  • Published: 01/23/2014
  • Est. Priority Date: 07/17/2012
  • Status: Abandoned Application
First Claim
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1. A method for initiating and processing a financial transaction, comprising:

  • receiving and accumulating the value of one or more deal redemptions;

    receiving, by a receiving device, a request for payment, wherein the request for payment includes at least a merchant identifier, a payer identifier, and a transaction amount;

    identifying, by a processing device, a controlled payment number, wherein the controlled payment number is restricted to a payee and the transaction amount;

    initiating a financial transaction for the transaction amount between a payer corresponding to the payer identifier and the payee, wherein the controlled payment number is used for payment of the financial transaction; and

    processing, by the processing device, the financial transaction.

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