Method and apparatus for providing and processing installment plans at a terminal

• US 7,895,100 B2
• Filed: 06/20/2006
• Issued: 02/22/2011
• Est. Priority Date: 03/21/1997
• Status: Expired due to Fees

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: Walker Digital LLC (Walker Innovation Inc. (f/k/a Patent Properties, Inc.))
• Inventors: Walker, Jay S., Jorasch, James A., Van Luchene, Andrew S.
• Primary Examiner(s): Colbert, Ella
• Application Number:
  US11/425,301
• Publication Number:
  US 20060229965A1
• Time in Patent Office: 1,708 Days
• Field of Search: 705/35, 705 38- 40, 705/26, 705/27, 705/30, 705/80, 235/379, 235/380, 235/381
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• 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 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0238 at point-of-sale [POS]
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• 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 40/03 : Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 : Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/12 : Accounting
• CPC Class Codes: G07C 15/005 : with dispensing of lottery tickets
• CPC Class Codes: G07F 17/32 : for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3248 : involving non-monetary media of fixed value, e.g. casino chips of fixed value
• CPC Class Codes: G07F 17/3255 : Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements
• CPC Class Codes: G07F 17/329 : Regular and instant lottery, e.g. electronic scratch cards
• CPC Class Codes: G07F 5/24 : with change-giving
• CPC Class Codes: G07F 9/02 : Devices for alarm or indication, e.g. when empty; Advertising arrangements in coin-freed apparatus alarms or warning devices indicating the interruption of flow to be metered G07F15/10
• CPC Class Codes: G07G 1/0036 : Checkout procedures
• CPC Class Codes: G07G 1/12 : electronically operated digital data processing aspects G06Q20/00
• CPC Class Codes: G07G 5/00 : Receipt-giving machines cash registers giving receipts G07G1/00

Abstract

A central controller receives from a POS terminal a purchase price and a financial account identifier. The financial account identifier specifies a financial account, such as a credit card account. The central controller, in turn, generates one or more installment plan identifiers defining installment plans for payment of the purchase price. The installment plan identifiers are based on the purchase price and/or the financial account identifier. For example, certain accounts or certain high purchase prices may merit preferred installment plans. The installment plan identifiers are transmitted to the POS terminal. A purchaser at the POS terminal selects whether he would like to pay for his purchase in installments and, if so, using which installment plan. The POS terminal generates a selection signal indicative of whether to accept any of the installment plans, and transmits the selection signal to the central controller. The central controller receives the selection signal. If the selection signal indicates acceptance of any installment plan, use of the accepted installment plan for the financial account is authorized. Thereafter, bills are generated which reflect installment charges to be paid.

Claims

1. A method, comprising:

receiving, by a central controller, a purchase price of a purchase and a financial account identifier from a point of sale terminal, the financial account identifier specifying a financial account of a purchaser;

determining, by the central controller, at least one installment plan offer for the purchase;

transmitting the at least one installment plan offer;

receiving, by the central controller, a selection signal indicative of acceptance of the installment plan offer;

calculating, by the central controller, an installment charge amount to include in at least two generated bills for the financial account;

determining a plurality of individual charges, each individual charge being for a respective purchase price of a purchase applied to the financial account in one charge and not in multiple installment charges; and

generating a bill for the financial account, the bill including;

the plurality of individual charges for the respective purchase prices,

at least one installment charge amount, the at least one installment charge amount including the calculated installment charge amount,

a first payment amount due that is a minimum payment amount due without any installment charge amounts, and

a second payment amount due comprising a sum of the first payment amount due and the at least one installment charge amount.

2. The method of claim 1, further comprising, prior to calculating the installment charge amount, at least one of incrementing the purchase price by an amount associated with an upsell offer, or decrementing the purchase price by an amount corresponding to a reward associated with an upsell offer.

3. The method of claim 2, wherein the upsell offer comprises an offer to provide at least one of a discount, a rebate, a cash payment, an extended warranty, frequent flyer miles or a product related to an item being purchased.

4. The method of claim 1, in which calculating the installment charge amount comprises basing the installment charge amount on the purchase price, an interest rate, and a total number of installments to apply to the financial account.

5. The method of claim 1, further comprising generating a transaction indicating that a purchaser is due a refund at the point of sale terminal.

6. The method of claim 1, further comprising:

receiving an installment payment; and

incrementing a reward based on the installment payment.

7. The method of claim 6, further comprising:

receiving the final installment plan payment; and

issuing a full value of the reward to the purchaser.

8. A computer readable medium storing instructions configured to direct a processor to:

receive, by a central controller, a purchase price of a purchase and a financial account identifier from a point of sale terminal, the financial account identifier specifying a financial account of a purchaser;

determine, by the central controller, at least one installment plan offer for the purchase;

transmit the at least one installment plan offer;

receive, by the central controller, a selection signal indicative of acceptance of the installment plan offer;

calculate, by the central controller, an installment charge amount to include in at least two generated bills for the financial account;

determine a plurality of individual charges, each individual charge being for a respective purchase price of a purchase applied to the financial account in one charge and not in multiple installment charges; and

generate a bill for the financial account, the bill including;

the plurality of individual charges for the respective purchase prices,

at least one installment charge amount, the at least one installment charge amount including the calculated installment charge amount,

a first payment amount due that is a minimum payment amount due without any installment charge amounts, and

a second payment amount due comprising a sum of the first payment amount due and the at least one installment charge amount.

9. The computer readable medium of claim 8, which further comprises instructions configured to direct the processor to prior to calculating the installment charge amount, at least one of increment the purchase price by an amount associated with an upsell offer, or decrement the purchase price by an amount corresponding to a reward associated with an upsell offer.

10. The computer readable medium of claim 9, wherein the upsell offer comprises an offer to provide at least one of a discount, a rebate, a cash payment, an extended warranty, frequent flyer miles or a product related to an item being purchased.

11. The computer readable medium of claim 8, in which the instructions for calculating the installment charge amount comprise instructions configured to direct the processor to base the installment charge amount on the purchase price, an interest rate, and a total number of installments to apply to the financial account.

12. The computer readable medium of claim 8, which further comprises instructions configured to direct the processor to generate a transaction indicating that a purchaser is due a refund at the point of sale terminal.

13. The computer readable medium of claim 8, which further comprises instructions configured to direct the processor to:

receive an installment payment; and

increment a reward based on the installment payment.

14. The computer readable medium of claim 13, which further comprises instructions configured to direct the processor to:

receive the final installment plan payment; and

issue a full value of the reward to the purchaser.

15. An apparatus, comprising:

a processor; and

a storage device operatively coupled to the processor, the storage device containing instructions configured to direct the processor to;

receive a purchase price of a purchase and a financial account identifier from a point of sale terminal, the financial account identifier specifying a financial account of a purchaser;

determine at least one installment plan offer for the purchase;

transmit the at least one installment plan offer;

receive a selection signal indicative of acceptance of the installment plan offer;

calculate an installment charge amount to include in at least two generated bills for the financial account;

determine a plurality of individual charges, each individual charge being for a respective purchase price of a purchase applied to the financial account in one charge and not in multiple installment charges; and

generate a bill for the financial account, the bill including;

the plurality of individual charges for the respective purchase prices,

at least one installment charge amount, the at least one installment charge amount including the calculated installment charge amount,

a first payment amount due that is a minimum payment amount due without any installment charge amounts, and

a second payment amount due comprising a sum of the first payment amount due and the at least one installment charge amount.

16. The apparatus of claim 15, wherein the data storage device further comprises at least one database.

17. The apparatus of claim 16, wherein the at least one database comprises at least one of a purchaser database, a transaction database, an installment plan database, a purchaser billing database, an installment payments database, or a merchant database.