Method and system for restricting the usage of payment accounts

• US 7,395,242 B2
• Filed: 07/13/2004
• Issued: 07/01/2008
• Est. Priority Date: 09/28/2000
• Status: Expired due to Fees

• Current Assignee: Microsoft Technology Licensing LLC (Microsoft Corporation)
• Original Assignee: Microsoft Corporation
• Inventors: Blinn, Arnold Neil, Coco, Joseph N.
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US10/890,075
• Publication Number:
  US 20040260647A1
• Time in Patent Office: 1,449 Days
• Field of Search: 705/35, 705/37, 705/39, 705/40
• US Class Current: 705/39
• 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 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/29 characterised by micropayments
• CPC Class Codes: G06Q 20/3674 involving authentication
• 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 20/403 Solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A user'"'"'s ability to spend and/or receive funds for payment accounts maintained in an electronic wallet are limited. These limitations include restrictions on where the user is able to spend the funds in a payment account (e.g., at which merchants the funds can be spent, whether the funds can be withdrawn from an ATM, etc.). These limitations may also include restrictions on what other payment accounts the user can receive funds from and/or transfer funds to, thereby limiting person-to-person fund transfers.

Claims

1. A computer implemented method comprising:

creating, by a first of a plurality of merchants, a payment account on a server in a user-accessible electronic wallet corresponding to a particular user, wherein the payment account stores information that identifies an associated external account where funds available to the user are maintained;

communicating, by the first of the plurality of merchants, the payment account information to a universal credit card platform;

verifying, based on subsequent use of the payment account by the user at one of the plurality of merchants, the authenticity of the payment account via the universal credit card platform; and

allowing—

by an account monitor—

the funds in the payment account to be spent only at the first of the plurality of merchants based on the verification of authenticity of the payment account, whereby funds to cover purchases made by the user at the first of the plurality of merchants are transferred from the payment account to the first of the plurality of merchants.

2. A method as recited in claim 1, further comprising issuing a physical card corresponding to the payment account.

3. A method as recited in claim 1, further comprising adding the payment account to an electronic wallet corresponding to the particular user.

4. A method as recited in claim 1, wherein the allowing comprises associating restrictions with the payment account so that funds of the payment account will only be approved for purchases made from the first of the plurality of merchants.

5. One or more computer-readable memories containing a computer program that is executable by a processor to perform a method, comprising:

creating, by a first of a plurality of merchants, a payment account on a server in a user-accessible electronic wallet corresponding to a particular user, wherein the payment account stores information that identifies an associated external account where funds available to the user are maintained;

communicating, by the first of the plurality of merchants, the payment account information to a universal credit card platform;

verifying, based on subsequent use of the payment account by the user at one of the plurality of merchants, the authenticity of the payment account via an account processing network; and

restricting, by an account monitor, the funds in the payment account to be spent only at a subset of the plurality of merchants based on the verification of authenticity of the payment account, whereby funds to cover purchases made by the user at the one of the subset of the plurality of merchants are transferred from the payment account to the one of the subset of the plurality of merchants.

6. The one or more computer-readable memories containing a computer program that is executable by a processor to perform a method recited in claim 5, further comprising issuing a physical card corresponding to the payment account.

7. The one or more computer-readable memories containing a computer program that is executable by a processor to perform a method recited in claim 5, wherein the restricting comprises associating restrictions with the payment account so that funds of the payment account will only be approved for purchases made from the subset of the plurality of merchants.

8. A computer implemented method comprising:

creating, by a merchant, the merchant being one of a plurality of merchants, a payment account on a server in a user-accessible electronic wallet corresponding to a particular user, wherein the payment account stores information that identifies an associated external account where funds available to the user are maintained;

communicating, by the merchant, the payment account information to an account processing network;

verifying, based on subsequent use of the payment account by the user at one of the plurality of merchants, the authenticity of the payment account via the account processing network; and

allowing, by an account monitor, the funds in the payment account to be spent only at the merchant based on the verification of authenticity of the payment account, whereby funds to cover purchases made by the user at the merchant are transferred from the payment account to the merchant.

9. The method as recited in claim 8, further comprising issuing a physical card corresponding to the payment account.