System and method for electronically providing customer services including payment of bills, financial analysis and loans

• US 5,383,113 A
• Filed: 07/25/1991
• Issued: 01/17/1995
• Est. Priority Date: 07/25/1991
• Status: Expired due to Term

• Current Assignee: Checkfree Corporation (Fiserv Incorporated)
• Original Assignee: Checkfree Corporation (Fiserv Incorporated)
• Inventors: Kight, Peter J., Johnson, Mark A., Cook, Kenneth, Christenson, Tamara K., Pointer, Philip, Lach, Regina
• Primary Examiner(s): Weinhardt, Robert A.
• Application Number:
  US07/736,071
• Time in Patent Office: 1,272 Days
• Field of Search: 364/401, 364/406, 364/403, 235/375, 235/380
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• 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 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A computerized payment system by which a consumer may instruct a service provider by telephone, computer terminal, or other telecommunications; means to pay various bills without the consumer having to write a check for each bill. The system operates without restriction as to where the consumer banks and what bills are to be paid. The service provider collects consumers'"'"' information, financial institutions'"'"' information and merchant information and arranges payment to the merchants according to the consumers'"'"' instructions based on a financial risk analysis.

Claims

1. A system for use by a service provider to pay bills rendered to a consumer by billing entities, said system comprising:

a financial institutions database having specific information pertaining to the consumers'"'"' financial institutions at which consumers maintain accounts and from which accounts payments to the billing entities may be made;

a billing entities database having specific information pertaining to the billing entities to be paid;

at least one remote telecommunications device operable by a consumer to be in communication with a central processing unit operated by said service provider;

a program directing the operations of said central processing unit to analyze instructions received from said consumer through said telecommunications device, said program further including means for identifying a preferred form of payment drawn on the consumer'"'"'s account at the financial institution with respect to payments to be effected to said billing entities; and

means for effecting payment of the bills on behalf of the consumer'"'"'s accounts, to said billing entities, said payments to be made from the consumer'"'"'s account at the financial institution, whether or not the service provider is a bank.

2. The system of claim 1 wherein the preferred form of payment is selected from a member of the group consisting of electronic funds transfer, charge to a credit card, a check, and a draft.

3. The system of claim 1 wherein said program further includes means for relating certain dollar amount limits to preselected forms of payment to determine the form of payment to be effected to said billing entities.