System and method for paying bills and other obligations including selective payor and payee controls
First Claim
1. A bill paying system comprising:
- storage for payee information for each of a plurality of payees;
storage for payor information for each of a plurality of payors, said payor information for each said payor including child-- payee information identifying said payees authorized to receive a transfer of funds from said payor and control parameters, said control parameters being established by said payors for controlling transfers of funds between said payor establishing said control parameters and more than one of said payees and for controlling multiple transfers between said payor establishing said control parameters and one of said payees authorized to receive a transfer of funds from said payor establishing said control parameters;
a bill generator for generating bill records from said child payee information of said payor information for at least one of said payors, said generated bill records corresponding to said control parameters established by said one of said payors;
a Transfer Communication Facilitater (TCF) message generator for generating at a time corresponding to said control parameters Electronic Funds Transfer (EFT) messages corresponding to said generated bill records to effect said transfer of funds corresponding to said generated bill records;
an electronic communication interface for receiving Electronic Data Interchange (EDI) forms from said payees, said EDI forms including a payorID and bill data; and
said system modifying said child payee information of said payor information for a payor identified by said payorID within a received EDI form with said bill data in said EDI form received from at least one of said payees, whereby said bill records subsequently generated by said bill generator correspond to said modified child payee information.
18 Assignments
0 Petitions
Accused Products
Abstract
A system and method for paying bills without requiring interaction with the payors disclosed. The system includes a payor control interface, a communications interface, a bill generator, and a TCF message generator. The bill generator generates bill records from payor and payee information stored within the system for recurring bills. The bill generator may also generate bill records from the payor and payee information and from bill data messages received from payees. The generated bill records are used by the TCF message generator to generate the EFT messages for transferring funds electronically between payors and payees. Payors may alter the payment amount and date for a bill as well as reverse payment of a bill already paid. Payees are also able to alter recurring bill records or may present bill data so that bill records reflecting variable obligation amounts may be generated.
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Citations
24 Claims
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1. A bill paying system comprising:
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storage for payee information for each of a plurality of payees; storage for payor information for each of a plurality of payors, said payor information for each said payor including child-- payee information identifying said payees authorized to receive a transfer of funds from said payor and control parameters, said control parameters being established by said payors for controlling transfers of funds between said payor establishing said control parameters and more than one of said payees and for controlling multiple transfers between said payor establishing said control parameters and one of said payees authorized to receive a transfer of funds from said payor establishing said control parameters; a bill generator for generating bill records from said child payee information of said payor information for at least one of said payors, said generated bill records corresponding to said control parameters established by said one of said payors; a Transfer Communication Facilitater (TCF) message generator for generating at a time corresponding to said control parameters Electronic Funds Transfer (EFT) messages corresponding to said generated bill records to effect said transfer of funds corresponding to said generated bill records; an electronic communication interface for receiving Electronic Data Interchange (EDI) forms from said payees, said EDI forms including a payorID and bill data; and said system modifying said child payee information of said payor information for a payor identified by said payorID within a received EDI form with said bill data in said EDI form received from at least one of said payees, whereby said bill records subsequently generated by said bill generator correspond to said modified child payee information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 11)
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10. A bill paying system comprising:
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storage for payee information for each of a plurality of payees; storage for payor information for each of a plurality of payors, said payor information for each said payor including child-payee information identifying said payees authorized to receive a transfer of funds from said payor and control parameters, said control parameters being established by said payors for controlling transfers of funds between said payor establishing said control parameters and more than one of said payees and for controlling multiple transfers between said payor establishing said control parameters and one of said payees authorized to receive a transfer of funds from said payor establishing said control parameters; a bill generator for generating bill records from said child payee information of said payor information for at least one of said payors, said generated bill records corresponding to said control parameters established by said one of said payors; a Transfer Communication Facilitator (TCF) message generator for generating at a time corresponding to said control parameters, Electronic Funds Transfer (EFT) messages corresponding to said generated bill records to effect said transfer of funds corresponding to said generated bill records; an electronic communication interface for receiving Electronic Data Interchange (EDI) forms from said payees, said EDI forms including a payorID and bill data; and said bill generator modifying a generated bill record of said payor information for a payor identified by said payorID within a received EDI form in accordance with said bill data received from one of said payees in response to said EDI form being received from one of said payees, whereby a generated bill record of said payor information for said one of said payors may be modified by one of said payees. - View Dependent Claims (12)
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13. A bill payment system comprising:
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storage for payee information for each of a plurality of payees; storage for payor information for each of a plurality of payors, said payor information for each of said payor including child payee information identifying at least one of said payees authorized to receive a transfer of funds from said payor; a communication interface for receiving a bill data message from at least one of said payees, said bill data message including a payorID and at least one of an obligation amount and a due date; a bill generator for generating a bill record from a bill data message received from one of said payees, payor information for said payor identified by said payorID in said received bill data message, and said payee information for said payee sending said bill data message, said generated bill record including an obligation amount and a payment date so that said generated bill record corresponds to a transfer of funds between said identified payor and said payee sending said bill data message to pay said obligation amount on said payment date; and a Transfer Communication Facilitator (TCF) message generator for generating at a predetermined time Electronic Funds Transfer (EFT) messages corresponding to said generated bill record to effect said transfer of funds. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification