Credit card account payment systems and methods

• US 7,309,003 B2
• Filed: 12/13/2002
• Issued: 12/18/2007
• Est. Priority Date: 12/13/2002
• Status: Expired due to Term

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Algiene, Kenneth, Wadsworth, Mark
• Primary Examiner(s): Le; Thien M.
• Assistant Examiner(s): Labaze; Edwyn
• Application Number:
  US10/318,453
• Publication Number:
  US 20040112952A1
• Time in Patent Office: 1,831 Days
• Field of Search: 235379-381, 235/345, 235/487, 705/39, 705/77, 705/75, 705/17, 705/21, 705/34, 705 40- 45, 902/2
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/342 Cards defining paid or billed services or quantities
• CPC Class Codes: G07F 7/025 by means, e.g. cards, providing billing information at the time of purchase, e.g. identification of seller or purchaser, quantity of goods delivered or to be delivered

Abstract

In one embodiment, a method for making a payment on an account comprises reading account information from a payment instrument that identifies a customer account that is to receive a payment. A financial institution associated with the customer account is determined as well as a payment account that is associated with the financial institution where the payment is to be deposited. A payment amount is collected, and the payment amount is transmitted to the payment account of the financial institution.

Claims

1. A method for making a payment on a financial account, the method comprising:

reading, at a point-of-service (POS) device, financial account information from a payment instrument that identifies a customer financial account that is to receive a payment, wherein the payment instrument is selected from the group consisting of credit cards, charge cards, and debit cards;

determining a financial institution associated with the customer financial account;

determining a payment account associated with the financial institution where the payment is to be deposited;

receiving, from a host computer system, a current amount due in relation to the customer financial account as identified from the payment instrument;

displaying on the POS device a query as to whether a payment is to be made on the customer financial account;

entering into the POS device an indication that the payment is to be made;

collecting a payment amount, wherein the payment amount is at least a portion of the current amount due; and

transmitting the payment amount to the payment account of the financial institution;

wherein the financial account information is electronically read from the payment instrument using an automatic payment instrument reader of the POS device.

2. The method as in claim 1, further comprising inquiring as to whether a payment is to be made on the customer financial account after reading the financial account information.

3. The method as in claim 2, wherein the inquiry as to whether a payment is to be made is generated by producing and displaying the query at the POS device.

4. The method as in claim 1, further comprising printing a receipt indicating that the payment amount has been paid on the customer financial account.

5. The method as in claim 1, further comprising displaying the current amount due at the POS device.

6. The method as in claim 1, further comprising displaying at the POS device various payment options for making the payment.

7. The method as in claim 1, wherein the payment is collected in cash.

8. The method as in claim 1, wherein the payment is collected by obtaining an authorization to charge or debit another financial account.

9. The method as in claim 1, wherein the POS device is selected from the group consisting of:

a point of sale terminal, a financial kiosk, and an automated teller machine.

10. A method for making a payment on a financial account, the method comprising:

reading financial account information electronically from a payment instrument using an automatic payment instrument reader of a point-of-sale (POS) device, wherein the financial account information identifies a customer financial account that is to receive a payment, the payment instrument comprising one of a credit card, a debit card, or a charge card;

receiving, from a host computer system, a current amount due in relation to the customer financial account as identified from the payment instrument;

inquiring as to whether a payment is to be made on the customer financial account;

displaying, in response to the inquiry, on the POS device a query as to whether the payment is to be made on the customer financial account;

entering into the POS device an indication that the payment is to be made;

entering a payment amount into the POS device;

collecting the payment amount, wherein the payment amount is at least a portion of the current amount due; and

transmitting the financial account information and the payment amount to the host computer system.

11. The method as in claim 10, further comprising printing a receipt indicating that the payment amount has been paid on the customer financial account.

12. The method as in claim 10, wherein the financial account information is read from the payment instrument using a magnetic stripe reader.

13. The method as in claim 10, wherein the inquiry as to whether a payment is to be made is generated by producing and displaying the query at the POS device.

14. The method as in claim 13, wherein the query is produced and displayed in response to reading the financial account information from the payment instrument.

15. The method as in claim 10, wherein the inquiry as to whether a payment is to be made is made verbally by a service representative.

16. The method as in claim 10, further comprising receiving and displaying the current payment due information at the POS device.

17. The method as in claim 10, further comprising displaying at the POS device various payment options for making the payment.

18. The method as in claim 10, wherein the payment is collected in cash.

19. The method as in claim 10, wherein the payment is collected by obtaining an authorization to charge or debit another financial account.

20. The method as in claim 10, further comprising receiving at the POS device from the host computer system a confirmation that the information on the payment amount was received.

21. A method for making a payment on a financial account, the method comprising:

receiving at a point-of-service (POS) device financial account information that identifies a customer financial account that is to receive a payment and a payment amount, the financial account information electronically read from a presentation instrument using an automatic presentation instrument reader of the POS device, the customer financial account comprising one of a debit account, a credit card account, and a charge card account;

receiving from the POS device a current payment due information in relation to the customer financial account, wherein the payment amount is at least a portion of an amount indicated by the current payment due information;

determining at the POS device a financial institution associated with the customer financial account and a payment account that is to receive the payment as identified from the presentation instrument;

displaying on the POS device a query as to whether a payment is to be made on the customer financial account;

entering into the POS device an indication that the payment is to be made; and

transmitting a request from the POS device to electronically transfer the payment amount to the payment account.

22. The method as in claim 21, further comprising determining the current payment due information on the customer financial account and transmitting the current payment due information to the POS device.

23. The method as in claim 21, further comprising producing a record of the payment and transmitting the record to the financial institution.

24. The method as in claim 21, wherein the request to electronically transfer the funds comprises an electronic funds transfer from a host account to the payment account.

25. The method as in claim 21, wherein the request to electronically transfer the funds comprises an electronic transfer from a second customer account to the payment account.

26. The method as in claim 25, wherein the second customer account is selected from a group of accounts consisting of a checking account, a debit account, a credit card account, a savings account, and an investment account.

27. The method as in claim 21, wherein the financial institution is determined by performing a look up in a table having ranges of customer financial account numbers and associated financial institutions.

28. The method as in claim 21, wherein the payment account is determined by performing a look up in a table having financial institutions and associated payment accounts.

29. A payment system, comprising:

a point-of-service (POS) device having at least one input interface, at least one output interface, and a table having ranges of customer financial account numbers and associated financial institutions, wherein the input interface is adapted to receive financial account information that identifies a customer financial account that is to receive a payment and a payment amount, the financial account information electronically read from a presentation instrument by an automatic presentation instrument reader of a POS device, and wherein the POS device is configured to determine a financial institution associated with the customer financial account using the table, to determine a payment account that is to receive the payment and a current amount due in relation to the payment account as read from the presentation instrument, to display on the POS device a query as to whether a payment is to be made on the customer financial account, to enter into the POS device an indication that the payment is to be made and wherein the output interface is adapted to transmit a request to electronically transfer the payment amount from the POS device to the payment account.

30. The system as in claim 29, wherein the POS device includes a table having financial institutions and associated payment accounts.

31. The system as in claim 29, wherein the POS device is configured to transmit a request to the financial institution for payment information on the customer financial account.

32. A presentation instrument processing system, comprising:

a processor;

a host computer system;

a point-of-sale (POS) device that is coupled to the processor and is configured to electronically read a customer financial account from one of a credit card, a debit card, or a charge card;

a data entry device coupled to the POS device configured to enter into the POS device an indication that a payment is to be made;

a display screen coupled to the POS; and

an output interface coupled to the POS device;

wherein the display screen is configured to display a query as to whether a payment is to be made toward the customer financial account upon reading of the customer financial account from the presentation instrument, and to display a current payment due amount, wherein the data entry device is configured to permit a payment amount to be entered, and wherein the output interface is configured to transmit the customer financial account and the payment amount to the obtained from the presentation instrument, and wherein the is configured to determine the current payment amount due.

33. The system as in claim 32, further comprising a printer that is coupled to the processor for printing receipts.