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Subscription-based payment

  • US 7,249,098 B2
  • Filed: 10/29/2001
  • Issued: 07/24/2007
  • Est. Priority Date: 07/11/2000
  • Status: Expired due to Term
First Claim
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1. A method for automatically processing a recurring transfer request from a stored value fund with an online system, the method comprising:

  • determining a handler associated with a payor;

    transferring money from the handler to the stored value fund;

    informing the payor that a payee accepts payment from the online system;

    receiving subscription type information which includes at least two of a per-request payment cap, a fixed payment amount, a limit on payment per time period, a limit on the number of payments in the time period, and a time period;

    receiving pay-out instructions that include at least two of a payor identifier, a payee identifier, a transfer amount, a payment description; and

    transferring the transfer amount from the stored value fund to the payee automatically.

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