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

• Current Assignee: First Data Corporation (Fiserv Incorporated), Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Karas, Peter M., Sherrard, Jeff D., Neofytides, Cheryl L., Cowell, James E., Milberger, Susan M., Macfarlane, Jackie M., Dunker, Amy M., Abrahams, Susan F., Yoder, James R., Platte, Eric L., Golub, Matt F., Baig, Aamer Ali
• Primary Examiner(s): Colbert; Ella
• Application Number:
  US10/021,292
• Publication Number:
  US 20020111908A1
• Time in Patent Office: 2,094 Days
• Field of Search: 705/26, 705/39, 705/44, 705/40, 705/42, 705/43, 705/45, 705/65, 705/67, 705/57, 705/80, 709/213, 902/24, 902/40, 713/150, 713/168, 713/181
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/40 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 30/06 Buying, selling or leasing transactions

Abstract

According to the invention, a method for automatically processing a recurring transfer request from a stored value fund with an online system is disclosed. A handler associated with a payor is determined and money is transferred from that handler to the stored value fund. In one step, the payor is informed that a payee accepts payment from the online system. Subscription type information is received, 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. Pay-out instructions are also received and include at least two of a payor identifier, a payee identifier, a transfer amount, a payment description. The transfer amount is automatically sent from the stored value fund to the payee.

Claims

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.

2. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the second-listed transferring step comprises transferring the transfer amount to a second stored value fund associated with the payee.

3. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the second-listed transferring step does not require any human interaction to fulfill the pay-out instructions.

4. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the second-listed transferring step comprises transferring the transfer amount to a second handler associated with the payee.

5. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 4, wherein the second handler includes at least one of a bank, a credit card company, a debit card company, an agent location, a stored value fund, and an airline mileage program, a gift certificate issuer, an electronic gift certificate issuer, and a money order issuer.

6. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the handler includes at least one of a bank, a credit card company, a debit card company, an agent location, a stored value fund, and an airline mileage program.

7. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, further comprising a steps of:

sending notification to the payor after receiving the pay-out instructions;

waiting a period of time between the sending step and the second-listed transferring step;

canceling the second-listed transferring step if the payor declines within the period of time.

8. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the transfer amount corresponds to at least one of:

currency, monetary value, airline mileage, promotional program points, gift certificate credit, and commodities.

9. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the payor, the handler and the payee are remotely located with respect to each other.

10. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for automatically processing the recurring transfer request from the stored value fund with the online system of claim 1.

11. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the determining step comprises a step of determining by the online system a handler previously associated with a payor.

12. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the stored value fund is hosted by the online system.

13. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, wherein the receiving steps receive information online at the online system.

14. The method for automatically processing the recurring transfer request from the stored value fund with the online system as recited in claim 1, further comprising a step of determining if the transfer amount violates any limits specified in the subscription type information.

15. A method for automatically processing a 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 one 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 a second handler associated with the payee automatically.

16. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 15, wherein the second-listed transferring step does not require any human interaction to fulfill the pay-out instructions.

17. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 15, wherein the second handler includes at least one of a bank, a credit card company, a debit card company, an agent location, a stored value fund, and an airline mileage program, a gift certificate issuer, an electronic gift certificate issuer, and a money order issuer.

18. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 15, wherein the handler includes at least one of a bank, a credit card company, a debit card company, an agent location, a stored value fund, and an airline mileage program.

19. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 15, further comprising a steps of:

sending notification to the payor after receiving the pay-out instructions;

waiting a period of time between the sending step and the second-listed transferring step;

canceling the second-listed transferring step if the payor declines within the period of time.

20. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for automatically processing the transfer request from the stored value fund with the online system of claim 15.

21. A method for automatically processing a 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 one 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;

sending notification to the payor after receiving the pay-out instructions;

waiting a period of time between the sending step and the second-listed transferring step;

transferring the transfer amount from the stored value fund to the payee; and

canceling the second-listed transferring step if the payor declines within the period of time.

22. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 21, wherein the second-listed transferring step does not require any human interaction to fulfill the pay-out instructions.

23. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 21, wherein the second-listed transferring step comprises transferring the transfer amount to a second handler associated with the payee.

24. A computer-readable medium having computer-executable instructions for performing the computer-implementable method for automatically processing the transfer request from the stored value fund with the online system of claim 21.

25. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 21, wherein the second-listed transferring step comprises a step of transferring the transfer amount in a plurality of transfers.

26. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 21, further comprising a step of checking the pay-out instructions against the subscription type information.

27. The method for automatically processing the transfer request from the stored value fund with the online system as recited in claim 21, wherein the fixed payment amount is a per-request limit.