Systems and methods for processing payments with payment review features

• US 7,680,737 B2
• Filed: 07/06/2006
• Issued: 03/16/2010
• Est. Priority Date: 07/06/2006
• Status: Active Grant

• Current Assignee: MoneyGram International Incorporated
• Original Assignee: MoneyGram International Incorporated
• Inventors: Lee, Dennis, Smith, Gordon L. B. Jr., Gordon, Emiko
• Primary Examiner(s): Trammell; James P
• Assistant Examiner(s): Liu; Marissa
• Application Number:
  US11/482,187
• Publication Number:
  US 20080010200A1
• Time in Patent Office: 1,349 Days
• Field of Search: 705 1- 80, 455/404.2, 379/112.06, 379/133
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• 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
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Methods and systems of processing a plurality of payments. One method can include receiving the plurality of payments from a plurality of customers, the plurality of payments payable to at least one receiver, determining a first set of payments included in the plurality of payments to automatically accept based on validation parameters, determining a second set of payments included in the plurality of payments to reject based on the validation parameters, determining a third set of payments included in the plurality of payments to conditionally accept based on the validation parameters, and electronically prompting at least one user to accept or reject payments included in the third set of payments.

Claims

1. A computer-implemented method of processing a plurality of payments, the plurality of payments from a plurality of customers and payable to at least one receiver and including at least one of a check payment, a credit card payment, a debit card payment, and a stored value card payment, the method comprising:

receiving, at a computer-implemented processor, the plurality of payments before a transfer of funds occurs between each of the plurality of customers and the at least one receiver;

determining, with the processor, a first set of payments included in the plurality of payments to automatically accept on behalf of the at least one receiver based on a plurality of parameters;

determining, with the processor, a second set of payments included in the plurality of payments to reject on behalf of the at least one receiver based on the plurality of parameters;

determining, with the processor, a third set of payments included in the plurality of payments to conditionally accept on behalf of, and to hold for manual review by, the at least one receiver based on the plurality of parameters;

electronically prompting the at least one receiver to accept or reject at least one payment included in the third set of payments; and

electronically receiving at least one instruction from the at least one receiver related to the third set of payments.

2. The method of claim 1 wherein electronically receiving at least one instruction from the at least one receiver includes electronically receiving at least one instruction from the at least one receiver to accept at least one payment in the third set of payments.

3. The method of claim 1 wherein electronically receiving at least one instruction from the at least one receiver includes electronically receiving an instruction from the at least one receiver to reject at least one payment in the third set of payments.

4. The method of claim 3 further comprising returning a payment to at least one of the plurality of customers based on the instruction to reject the at least one payment.

5. The method of claim 1 and further comprising configuring the parameters as specified by the at least one receiver.

6. The method of claim 5 wherein configuring the parameters as specified by the at least one receiver includes configuring the parameters to include at least one of a valid account number, an invalid account number, and a valid payment amount.

7. The method of claim 1 and further comprising rejecting the second set of payments and returning a payment to at least one of the plurality of customers.

8. The method of claim 1 and further comprising notifying the at least one receiver of the third set of payments.

9. The method of claim 1 and further comprising generating at least one summary report, the summary report including at least one of a number of payments included in the third set of payments, a number of payments included in the third set of payments that were accepted, and a number of payments included in the third set of payments that were rejected.

10. The method of claim 1 and further comprising automatically processing the third set of payments a predetermined amount of time after electronically prompting the at least one receiver.

11. The method of claim 10 wherein automatically processing the third set of payments includes automatically accepting the third set of payments.

12. The method of claim 10 wherein automatically processing the third set of payments includes automatically rejecting the third set of payments.

13. A method as claimed in claim 1, further comprising generating, with a payment management device configured to manage multiple aspects of a payment processing process including reconciliation, balancing, and skip tracing, an instruction to accept or reject a payment before electronically receiving at least one instruction from the at least user related to the third set of payments.