METHOD FOR MINIMIZING FINANCIAL RISK FOR WIRELESS SERVICES

• US 20160316070A1
• Filed: 11/25/2015
• Published: 10/27/2016
• Est. Priority Date: 10/20/2003
• Status: Active Grant

• Current Assignee: Netcracker Technology Solutions Inc (NEC Corporation)
• Original Assignee: Netcracker Technology Solutions Inc (NEC Corporation)
• Inventors: BOBICH, Thomas, BRACH ET, Carl-Manuel, GRAY, Robert, HINMAN, John
• Granted Patent: US 11,582,351 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: H04M 15/88 Provision for limiting connection, or expenditure
• CPC Class Codes: H04W 4/24 Accounting or billing

Abstract

A method and system for managing financial risk through the use of postpaid processing during use of wireless services is presented within the scope of the following invention. The present invention uses credit card authorization to pre-reserve credit card funds for wireless services in excess of planned usage. Authorizations eliminate the credit risk associated with overages and payment timing, and also maintain a customer experience identical to postpaid processing. The authorizations are invisible to the customer and no charge is brought to a customer'"'"'s credit card until the monthly bill is settled. Separating the authorization and settlement stages of retail wireless payment processing allows the branded wireless provider to avoid inherent areas of credit risk during the tenure of a customer'"'"'s wireless service, while maintaining a familiar customer experience.

Claims

1. A machine comprising:

(a) a retail brand system for providing mobile communications devices to at least one consumer for use with the system;

(b) a mobile virtual network enabler for establishing and maintaining wireless service, the mobile virtual network enabler coupled to the retail brand system;

(c) a wireless communication network for communication between communication devices,

(d) the wireless communication network coupled to the mobile virtual network enabler; and

(e) a financial risk management system for monitoring network usage and ensuring payment for wireless services, the financial risk management coupled to the mobile virtual network enabler.

2. The machine of claim 1, wherein the financial risk management system is formed as a portion of the mobile virtual network enabler.

3. The machine of claim 1, wherein the financial risk management system is a third party system operated separately from the mobile virtual network enabler.

4. The machine of claim 1, wherein the financial risk management system comprises:

(a) an initializing system for setting up an account for wireless services, the initializing system coupled to the mobile virtual network enabler;

(b) a monitoring system for determining usage levels for a mobile device, the monitoring system coupled to the mobile virtual network enabler and the initializing system;

(c) a database module for storing usage data, the database module coupled to the monitoring system; and

(d) a financial risk minimizing module for limiting financial exposure from providing wireless services, the financial risk minimizing module coupled to the monitoring system and the mobile virtual network enabler.

5. The machine of claim 4, wherein the financial risk management system further comprises a set of rules, the rules applied to data from the monitoring system to determine whether to terminate wireless services.

6. A machine comprising:

(a) a monitoring system for determining usage levels for a mobile device, the monitoring system coupled to a mobile virtual network enabler to receive usage data;

(b) a memory module for storing usage data for the mobile device, the memory module coupled to the monitoring system; and

(c) a financial risk minimizing module for limiting financial exposure for providing wireless services, the financial risk minimizing module coupled to the monitoring system and the mobile virtual network enabler.

7. The machine of claim 6, wherein the financial risk management module comprises a set of rules, the rules used by the financial risk management module to determine whether to terminate wireless services.

8. The machine of claim 6, further comprising an initializing system for setting up an account for wireless services, the initializing system coupled to the mobile virtual network enabler to activate service for a mobile device.

9. The machine of claim 8, wherein the initializing system is coupled to credit authorizing unit, and wherein the initializing system authorizes and settles a charge for service before signaling the mobile virtual network enabler to activate wireless services.

10. The machine of claim 6, wherein the monitoring system monitors usage data for a wireless network and filters out usage data for mobile devices that are prepaid or on a monthly subscription.

11. The machine of claim 6, wherein the memory module further comprises a database for storing usage data, wherein the database stores usage information for a plurality of mobile devices.

12. The machine of claim 6, wherein the financial risk minimizing module further comprises:

(a) a risk measurement module coupled to the memory to receive usage information, the risk measurement module generating a risk signal if the usage for a mobile device exceeds a predefined threshold; and

(b) a credit authorizing unit for authorizing a credit card charge in response to the risk signal, the credit authorizing unit coupled to the risk measurement module to receive the risk signal and coupled to a credit card company to send an authorization request.

13. A machine comprising:

a) a means for eliminating credit risk while maintaining customer experience;

b) at least one element selected from the group consisting of;

i) a retail brand system; and

ii) a wireless network.

14. The machine of claim 13, wherein the means for eliminating credit risk while maintaining customer experience comprises a means for initializing wireless services.

15. The machine of claim 13, wherein the means for eliminating credit risk while maintaining customer experience comprises a means for monitoring wireless service usage.

16. The machine of claim 13, wherein the means for eliminating credit risk while maintaining customer experience comprises a means for minimizing financial risk for wireless service.