ONLINE BANK TRANSFER TRANSACTIONS
First Claim
1. A computer-implemented method to use credit authorizations to guarantee alternate reimbursement from a user for a bank transfer transaction, comprising:
- establishing, by one or more computing devices, a user record comprising financial account information associated with a financial account of a user and credit account information associated with a credit account of the user;
receiving, by one or more computing devices, a request for authorization for a transaction from a merchant system, the transaction being conducted between a user and a merchant system;
transmitting, by the one or more computing devices and to an issuer system associated with the credit account, a credit authorization request comprising a request to approve a charge to the credit account equal to an amount requested in the transaction authorization request;
receiving, by the one or more computing devices and from the issuer system, a credit authorization approval associated with the credit authorization request;
transmitting, by the one or more computing devices and to a financial account system associated with the financial account of the user, a bank transfer request comprising a request to transfer funds from the financial account of the user to an account associated with the one or more computing devices; and
transferring, by the one or more computing devices and to a financial account associated with the merchant system, funds in the amount of the transaction authorization request.
2 Assignments
0 Petitions
Accused Products
Abstract
A user establishes an account with a payment processing system and enters financial account information and credit account information. The user initiates a transaction with a merchant system for a payment amount and selects to pay with the financial account. The payment processing system requests and receives a credit authorization for the payment amount from an issuer system associated with the credit account and initiates a bank transfer, requesting funds from the user'"'"'s financial account equal to the payment amount or the payment amount minus a minimal amount. The payment processing system credits an account associated with the merchant system and transmits a transaction approval to the merchant system. The payment processing system receives the bank transfer and transmits a request to the issuer system to cancel the credit authorization, waits for the credit authorization to expire, or charges the minimal amount on the user credit account.
-
Citations
20 Claims
-
1. A computer-implemented method to use credit authorizations to guarantee alternate reimbursement from a user for a bank transfer transaction, comprising:
-
establishing, by one or more computing devices, a user record comprising financial account information associated with a financial account of a user and credit account information associated with a credit account of the user; receiving, by one or more computing devices, a request for authorization for a transaction from a merchant system, the transaction being conducted between a user and a merchant system; transmitting, by the one or more computing devices and to an issuer system associated with the credit account, a credit authorization request comprising a request to approve a charge to the credit account equal to an amount requested in the transaction authorization request; receiving, by the one or more computing devices and from the issuer system, a credit authorization approval associated with the credit authorization request; transmitting, by the one or more computing devices and to a financial account system associated with the financial account of the user, a bank transfer request comprising a request to transfer funds from the financial account of the user to an account associated with the one or more computing devices; and transferring, by the one or more computing devices and to a financial account associated with the merchant system, funds in the amount of the transaction authorization request. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
-
8. A computer program product, comprising:
a non-transitory computer-readable medium having computer-executable program instructions embodied thereon that when executed by a computer cause the computer to use a credit authorization to guarantee a bank transfer transaction, the computer-executable program instructions comprising; computer-executable program instructions for receiving a request for authorization for a transaction from a merchant system, the transaction being conducted between a user and a merchant system; computer-executable program instructions for transmitting, to an issuer system associated with a credit account associated with the user, a credit authorization request comprising a request to approve a charge to the credit account equal to an amount requested in the transaction authorization request; computer-executable program instructions for receiving, from the issuer system, a credit authorization approval associated with the credit authorization request; computer-executable program instructions for transmitting, to a financial account system associated with a financial account of the user, a bank transfer request comprising a request to transfer funds from the financial account of the user to an account associated with the one or more computing devices; and computer-executable program instructions for transferring, to a financial account associated with the merchant system, funds to conduct the transaction; - View Dependent Claims (9, 10, 11, 12, 13, 14, 15)
-
16. A system for using a credit authorization to guarantee a bank transfer transaction, comprising:
-
a storage device; and a processor communicatively coupled to the storage device, wherein the processor executes application code instructions that are stored in the storage device to cause the system to; receive, from a user, a request for authorization for a transaction from a merchant system, the transaction being conducted between a user and a merchant system; transmit, to an issuer system associated with a credit account associated with the user, a credit authorization request comprising a request to approve a charge to the credit account equal to the amount requested in the transaction request; receive, from the issuer system, a credit authorization approval associated with the credit authorization request; transmit, to a financial account system associated with a financial account of the user, a bank transfer request comprising a request to transfer funds from the financial account of the user to an account associated with the one or more computing devices; and transfer, to a financial account associated with the merchant system, funds to conduct the transaction. - View Dependent Claims (17, 18, 19, 20)
-
Specification