Consolidated payment account system and method
First Claim
1. A method comprising:
- funding, by a computer-based system for providing a payment for an on-line transaction, a consolidated account substantially simultaneously from a plurality of different funding sources, wherein at least one of an acquisition order is determined according to a user-defined funding profile and a proportion of the value from each of the plurality of different funding sources is determined according to a user-defined funding profile, and wherein the consolidated account stores a value funded from the plurality of different funding sources;
setting, by the computer-based system, a predetermined usage restriction in a database, wherein the predetermined usage restriction is associated with at least one of the plurality of different funding sources;
performing, by the computer-based system and after the funding, a predetermined enforcement policy on at least part of the funds in the consolidated account, wherein the predetermined enforcement policy is based at least in part on the setting; and
paying, by the computer-based system, a payee with at least part of the funded value.
1 Assignment
0 Petitions
Accused Products
Abstract
The present invention provides a system and method for providing and/or facilitating complete on-line payment services while protecting the privacy of the transaction participants. The comprehensive payment service is based upon a consolidated account used to store value acquired through on-line transactions. The invention provides private payment numbers for protecting the identities of the participants and includes processes for authenticating participants, authorizing transactions, and settling payments. Thus, the present invention enables merchants to effectively accept non-standard forms of payment without changing their current payment infrastructures and enables the provision of value for purchases at any network merchant using any source of value.
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Citations
49 Claims
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1. A method comprising:
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funding, by a computer-based system for providing a payment for an on-line transaction, a consolidated account substantially simultaneously from a plurality of different funding sources, wherein at least one of an acquisition order is determined according to a user-defined funding profile and a proportion of the value from each of the plurality of different funding sources is determined according to a user-defined funding profile, and wherein the consolidated account stores a value funded from the plurality of different funding sources; setting, by the computer-based system, a predetermined usage restriction in a database, wherein the predetermined usage restriction is associated with at least one of the plurality of different funding sources; performing, by the computer-based system and after the funding, a predetermined enforcement policy on at least part of the funds in the consolidated account, wherein the predetermined enforcement policy is based at least in part on the setting; and paying, by the computer-based system, a payee with at least part of the funded value. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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25. A system for providing a payment for an on-line transaction, the system comprising:
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an account administrator in communication with a transaction administrator and one or more value sources, the transaction administrator configured to perform the steps of; funding a consolidated account substantially simultaneously from a plurality of different funding sources, wherein at least one of an acquisition order is determined according to a user-defined funding profile and a proportion of the value from each of the plurality of different funding sources is determined according to a user-defined funding profile, and storing in the consolidated account a value funded from the plurality of different funding sources; setting a predetermined usage restriction in a database, wherein the predetermined usage restriction is associated with at least one of the plurality of different funding sources; performing, after the funding, a predetermined enforcement policy on at least part of the funds in the consolidated account, wherein the predetermined enforcement policy is based at least in part on the setting; and paying a payee with at least part of the funded value. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49)
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Specification