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

• US 5,873,072 A
• Filed: 01/13/1995
• Issued: 02/16/1999
• Est. Priority Date: 07/25/1991
• Status: Expired due to Fees

• 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:
  US08/372,620
• Time in Patent Office: 1,495 Days
• Field of Search: 364/401 R, 364/406, 364/408, 364/403, 235/375, 235/380, 235/379, 705/1, 705/30, 705/34, 705/35, 705/40, 705/42
• 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 based on a financial risk analysis to the merchants according to the consumers'"'"' instructions.

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 containing information pertaining to consumers'"'"' accounts from which payments to the billing entities may be made;

means for creating said financial institutions database consisting of the identification by a consumer of information regarding the consumer'"'"'s accounts from which payment from the consumer to a billing entity may be made;

a billing entities database having information pertaining to the billing entities to which payments on the consumers'"'"' behalf may be made from the consumer'"'"'s account;

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 from the consumer'"'"'s account with respect to payments to be effected to said billing entities, said preferred form of payment being selected by the service provider from the consumer'"'"'s account in the form of at least one of the group consisting of an electronic funds transfer, a charge to a credit card, a check, and a draft, the determination of the preferred form of payment being made by comparing the amount of the bill to be paid to a value corresponding to at least one of;

a fixed currency value amount, a predetermined upper limit of funds determined by the service provider associated with a particular consumer, and a credit limit otherwise associated with the consumer'"'"'s account, and

means for effecting payment of the bills to said billing entities on behalf of the consumer by transferring funds from the consumer'"'"'s account to the billing entity.

2. The system of claim 1 in which, if the amount of the bill to be paid is less than the fixed currency value, payment of the bill is made by an electronic funds transfer drawn from the consumer'"'"'s account to the billing entity.

3. The system of claim 1 in which, if the amount of the bill to be paid is in excess of one of the upper limit or the credit limit, payment of the bill is made by a draft drawn on the consumer'"'"'s account in favor of the billing entity.

4. The system of claim 1 in which, if the amount of the bill to be paid is less than one of the upper limit or the credit limit, payment of the bill is made by a draft payable on behalf of the consumer written on the account of the service provider, and upon presentation of the draft, funds corresponding to the amount of the draft are transferred from the consumer'"'"'s account to the account of the service provider on which the draft is drawn.

5. The system of claim 4 in which a single payment is made to a billing entity representing in the aggregate the sum of a number of individual bills rendered to multiple consumers.

6. The system of claim 5 wherein a list is provided to the billing entity of each individual bill amount and each consumer on whose behalf the payment is made.

7. The system of claim 1 in which the values to which the amount of the bill to be paid are compared comprise differing amounts, and the amount of a particular payment is compared in turn to each of said differing amounts in the order of the increasing value of said amounts to determine the category within which a particular payment corresponds.

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

9. The system of claim 8 wherein said dollar amount limits include per transaction dollar amounts and per month dollar amounts.

10. The system of claim 1 wherein said remote telecommunications device is selected from at least one member of the group consisting of a touch tone telephone, computer, computer terminal, voice transmission and data transmission.

11. The system of claim 10 wherein said remote telecommunications device is a touch tone telephone and the telephone is used by the consumer in communication with a voice response unit within said system.

12. The system of claim 1 wherein the information in said financial institutions database comprises at least one of the group consisting of routing transit numbers and consumers'"'"' account numbers.

13. The system of claim 1 wherein the information in said billing entities database comprises at least one of the group consisting of billing entities'"'"' names, billing entities'"'"' addresses, billing entities'"'"' telephone numbers, consumers'"'"' merchant account number(s), account edits, and merchant data.

14. The system of claim 13 including further means for determining a correct consumer merchant account number when an incomplete or incorrect consumer merchant account number is input into said billing entities database.

15. The system of claim 1 wherein said program includes means for making a determination of a consumer'"'"'s creditworthiness.

16. The system of claim 1 wherein said means for effecting payment includes a printer and post processor to generate an instrument corresponding to a funds transfer.

17. The system of claim 1 wherein said program differentiates between regularly occurring bills of the same amount due to a billing entity and bills of variable amounts due to a billing entity.

18. The system of claim 1 wherein said program includes a processing calendar for determining dates on which payments are made to particular billing entities.

19. 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 containing information pertaining to consumers'"'"' accounts from which payments to the billing entities may be made, the information in said financial institutions database including at least one of the group consisting of routing transit numbers and consumers'"'"' account numbers;

means for creating said financial institutions database consisting of the identification by a consumer of information regarding the consumer'"'"'s accounts from which payment from the consumer to a billing entity may be made;

a billing entities database having information pertaining to the billing entities to which payments on the consumers'"'"' behalf may be made from the consumer'"'"'s account, the information in said billing entities database including at least one of the group consisting of billing entities'"'"' names, billing entities'"'"' addresses, billing entities'"'"' telephone numbers, consumers'"'"' merchant account number(s), account edits, and merchant data;

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 from the consumer'"'"'s account with respect to payments to be effected to said billing entities, said preferred form of payment being selected by the service provider from the consumer'"'"'s account in the form of at least one of the group consisting of an electronic funds transfer, a charge to a credit card, a check, and a draft, said preferred form of payment further including a funds transfer of an amount that is a total of more than one consumer'"'"'s payments to a particular billing entity accompanied by a list of each consumer on whose behalf a payment is made, said program including means for relating predetermined dollar amount limits to preselected forms of payment to determine the form of payment to be effected, said dollar amount limits including per transaction dollar amounts and per month dollar amounts; and

means for effecting payment of the bills to said billing entities on behalf of the consumer by transferring funds from the consumer'"'"'s account to the billing entity.

20. A method by which a consumer directs, through a remote telecommunications device operable by a consumer that is in communication with a central processing unit operated by a service provider, the payment of bills rendered to the consumer by billing entities, the payment being effected by the service provider, comprising the following steps:

providing information to the service provider pertaining to consumers'"'"' accounts from which payments to the billing entities may be made on the consumer'"'"'s behalf and maintaining the information provided in a financial institutions database;

providing a billing entities database having specific information pertaining to the billing entities to which payments on the consumers'"'"' behalf will be made;

instructing the service provider through said telecommunications device with regard to payments to be made on the consumer'"'"'s behalf from the consumer'"'"'s account;

selecting by the service provider, from at least one of the group of multiple differing types of funds transfers available to the service provider, a preferred form of payment drawn on the consumer'"'"'s account with respect to payments to be effected; and

effecting payment of the bills to said billing entities on behalf of the consumer by the service provider'"'"'s instruction of a preferred form of payment from the consumer'"'"'s account corresponding to amount of the consumer'"'"'s instructions regarding the billing entity to be paid.

21. The method of claim 20 in which the preferred form of payment is selected from at least one of the group consisting of an electronic funds transfer, a charge to a credit card, a check, and a draft.