Methods for processing a group of accounts corresponding to different products
First Claim
1. A method using a computer for applying a group payment to a group, the group comprising a plurality of accounts spanning a plurality of credit products, comprising the steps of:
- receiving a payment at a payment processor and entering the payment into a computer system;
determining that the payment is a group payment, wherein determining that the payment is a group payment includes identifying one or more accounts to which the payment is associated and determining that the one or more accounts are associated with a group;
determining which accounts are included in a group payment allocation defined in relation to the group;
comparing the group payment to a group balance, wherein the group balance indicates a liability due in relation to one or more accounts associated with the group payment allocation;
based upon the comparison between the group payment and the group balance, identifying a group payment option using the computer system;
calculating the group payment allocation in the computer system using the group payment option, the group payment, the group balance, and the balances of the accounts included in the group payment allocation; and
applying the group payment to the accounts included in the group payment allocation, wherein a liability associated with one or more accounts included in the group payment allocation is reduced through application of at least a portion of the payment.
9 Assignments
0 Petitions
Accused Products
Abstract
Processing a group of accounts corresponding to different products. A group of accounts are linked together to create a group so that group processing can be performed at the group level while independent processing of the accounts is performed at the account level. Typically, a group includes a key account and one or more dependent accounts. The relationships between the accounts and the group are flexible to accommodate changes in the status of the group cardholders. Group level processing includes authorizing transactions, applying group payments, creating group statements, creating cardholder communications, and administering reward programs. Each dependent account has an associated dependent strategy that specifies group level processing options for the dependent account.
165 Citations
14 Claims
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1. A method using a computer for applying a group payment to a group, the group comprising a plurality of accounts spanning a plurality of credit products, comprising the steps of:
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receiving a payment at a payment processor and entering the payment into a computer system; determining that the payment is a group payment, wherein determining that the payment is a group payment includes identifying one or more accounts to which the payment is associated and determining that the one or more accounts are associated with a group; determining which accounts are included in a group payment allocation defined in relation to the group; comparing the group payment to a group balance, wherein the group balance indicates a liability due in relation to one or more accounts associated with the group payment allocation; based upon the comparison between the group payment and the group balance, identifying a group payment option using the computer system; calculating the group payment allocation in the computer system using the group payment option, the group payment, the group balance, and the balances of the accounts included in the group payment allocation; and applying the group payment to the accounts included in the group payment allocation, wherein a liability associated with one or more accounts included in the group payment allocation is reduced through application of at least a portion of the payment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method using a computer for applying a group payment to a group, the group comprising a plurality of accounts spanning a plurality of products, including a key account and a dependent account, comprising the steps of:
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entering a payment into a computer system; determining whether the payment is a group payment; determining whether payment for the dependent account is due from a primary owner for the group or from a dependent cardholder associated with the dependent account wherein the primary owner for the group is associated with the key account and the dependent cardholder is associated with the dependent account; determining that payment for the dependent account is due from the primary owner for the group, and applying the group payment to the key account and the dependent account by; using a computer system to access a database, and to determine a group balance from information accessed from the database; comparing the group payment to a group balance; based upon the comparison between the group payment and the group balance, identifying a group payment option; allocating the group payment between the key account and the dependent account based upon the group payment option, the group payment, the group balance, a key account balance and a dependent account balance; and applying the group payment in accordance with the allocation to reduce a liability due in association with at least one of the dependent account and the key account. - View Dependent Claims (10, 11, 12, 13, 14)
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Specification