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

• Current Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Original Assignee: Mastercard International Incorporated (MasterCard Incorporated)
• Inventors: Gilman, Andrea Christine, MARTINEZ, Jose-Luis Celorio, Kuo, Dana Marie
• Application Number:
  US13/551,406
• Publication Number:
  US 20140025445A1
• Time in Patent Office: Days
• US Class Current: 705/14.1
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• CPC Class Codes: G06Q 30/0215 Including financial accounts

Abstract

A method for initiating and processing a financial transaction includes: 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 merchant corresponding to the merchant identifier and the transaction amount; initiating a financial transaction for the transaction amount between a payer corresponding to the payer identifier and the merchant, wherein the controlled payment number is used for the payment of the financial transaction; and processing, by the processing device, the financial transaction.

Claims

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.

2. The method of claim 1, wherein the payer identifier is an account number for a financial account.

3. The method of claim 2, wherein the controlled payment number is associated with the financial account.

4. The method of claim 2, wherein the financial account is associated with a deal provider that provides a deal corresponding to the one or more deal redemptions.

5. The method of claim 1, wherein the payee is a merchant corresponding to the merchant identifier.

6. The method of claim 1, wherein the payee is an entity related to a deal corresponding to the one or more deal redemptions.

7. The method of claim 6, wherein the entity is at least one of a distributor, a retailer, and a manufacturer.

8. A system for initiating and processing a financial transaction, comprising:

a receiving device configured to

receive and accumulate the value of one or more deal redemptions, and

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

a processing device configured to

identify a controlled payment number, wherein the controlled payment number is restricted to a payee and the transaction amount,

initiate 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 the financial transaction.

9. The system of claim 8, wherein the payer identifier is an account number for a financial account.

10. The system of claim 9, wherein the controlled payment number is associated with the financial account.

11. The system of claim 9, wherein the financial account is associated with a deal provider that provides a deal corresponding to the one or more deal redemptions.

12. The system of claim 8, wherein the payee is a merchant corresponding to the merchant identifier.

13. The system of claim 8, wherein the payee is an entity related to a deal corresponding to the one or more deal redemptions.

14. The system of claim 13, wherein the entity is at least one of a distributor, a retailer, and a manufacturer.