Systems and methods for receiving an allocation of an amount between transaction accounts

• US 7,941,372 B2
• Filed: 12/01/2008
• Issued: 05/10/2011
• Est. Priority Date: 11/05/1999
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Thomas, Tracey R., Sharma, Bansi L., Bishop, Fred A.
• Primary Examiner(s): PATEL, JAGDISH
• Application Number:
  US12/325,576
• Publication Number:
  US 20090138388A1
• Time in Patent Office: 890 Days
• Field of Search: 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also enables the allocation of a portion or all of a charge or loyalty points to different transaction accounts issued by different issuers, or to sub-accounts.

Claims

1. A method for receiving an allocation of an amount associated with a transaction, the method comprising:

receiving, by a second financial account issuer server via a communication link from a first financial account issuer server, a request to debit a second portion of the amount from a second financial account having a second identifier, wherein the second financial account issuer server issued the second financial account, and wherein the second financial account issuer server is different from the first financial account issuer server, and wherein the first financial account issuer server identifies the second financial account issuer server based on the second identifier;

verifying, by the second financial account issuer server, that the second portion of the amount is available in the second financial account; and

debiting, by the second financial account issuer server, the second portion of the amount from the second financial account,

wherein the first financial account issuer server receives a request to debit the amount from a first financial account having a first identifier, wherein the first financial account issuer server issued the first financial account, and

wherein the first financial account issuer server acquires an allocation rule associated with the first identifier, debits, based upon the allocation rule, a first portion of the amount from the first financial account, calculates, based on the allocation rule, the second portion, and allocates, based upon the allocation rule, the second portion of the amount to the second financial account.

2. The method of claim 1, wherein the receiving the request to debit the second portion is based on the allocation rule, and wherein the allocation rule is based upon at least one of:

the amount, consumer goals, demographic data, location information, loyalty point information, historical transactions, frequency of transactions, time period of the transaction, past behavior of consumer, past behavior of merchant, payment system, consumer transaction fees, late fees, interest rates, merchant transaction fees, exchange rates, account fees, vendor information, company guidelines, biometric information, authorization levels, consumer information, merchant information, issuer information, payment processor information, record of charge, summary of charges, consumer confirmation, employer confirmation, lack of confirmation, type of account or financial instrument.

3. The method of claim 1, wherein the receiving the request to debit the second portion from the second financial account is based on at least one of the first financial account or the second financial account including at least one of:

a transaction account, an escrow account, a digital cash account, a demand deposit account, a credit line, checking account, savings account, a gift card account, a pre-paid account, a credit union account, a bank account, an investment account, a money market account, a corporate account, personal account, a loyalty account, gift card account, procurement account, fuel account, shared account, a third party billing account, a revolving credit card account or a charge card account.

4. The method of claim 1, wherein the receiving the request to debit the second portion is based on the allocation rule, and wherein the allocation rule is at least one of:

stored on a transaction device, stored on a personal digital assistant, acquired from an employer, acquired from a third party, generated at a point of sale, associated with the first financial account, stored in a merchant database, or stored in a payment processor database.

5. The method of claim 1, wherein the receiving the request to debit the second portion is based on the allocation rule, and wherein the allocation rule is at least one of:

a pre-defined rule, a dynamic rule, entered via a webpage, or entered via a personal digital assistant.

6. The method of claim 1, wherein the receiving the request to debit the second portion is based on the allocation rule, and wherein the allocation rule at least one of:

initiates a notification, or requests a confirmation.

7. The method of claim 1, wherein the debiting the second portion of the amount from the second financial account results in at least one of:

the amount, the first portion or the second portion being included on a billing statement associated with at least one of the first financial account or the second financial account.

8. The method of claim 1, wherein the debiting the second portion of the amount from the second financial account includes the amount comprising at least one of a monetary amount, a non-monetary amount, loyalty points, or monetary equivalent value.

9. The method of claim 1, wherein the debiting the second portion of the amount from the second financial account includes the first financial account and the second financial account being associated with the same consumer.

10. The method of claim 1, further comprising retaining, by the second financial account issuer server, a third portion of the amount as a transaction fee.

11. The method of claim 1, wherein the first financial account issuer server is associated with at least one of a transaction account issuer, charge card issuer, credit card issuer, debit card issuer, gift card issuer, bank, lender, credit union, or a third party issuer under contract with the financial account issuer.

12. The method of claim 1, further comprising receiving an authorization request from a merchant.

13. The method of claim 1, wherein a second authorization request is received by the second financial account issuer server from at least one of the first financial account issuer server or a merchant associated with the transaction.

14. The method of claim 1, wherein a second authorization approval is sent from the second financial account issuer server to at least one of the first financial account issuer server or a merchant associated with the transaction.

15. The method of claim 1, further comprising notifying at least one of a first party associated with the first financial account or a second party associated with the second financial account, in response to receiving the request.

16. The method of claim 1, wherein at least one of the first identifier or the second identifier is at least one of a proxy number, a limited-use number and a single use number.

17. The method of claim 1, wherein at least one of the first identifier or the second identifier includes restrictions.

18. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers.

19. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers that correspond to a master account, prior to a purchase by the client.

20. An article of manufacture including a non-transitory, tangible computer readable medium having instructions stored thereon that, in response to execution by a second financial account issuer server, cause the second financial account issuer server to perform operations comprising:

receiving, by the second financial account issuer server via a communication link from a first financial account issuer server, a request to debit a second portion of the amount from a second financial account having a second identifier, wherein the second financial account issuer server issued the second financial account, and wherein the second financial account issuer server is different from the first financial account issuer server, and wherein the first financial account issuer server identifies the second financial account issuer server based on the second identifier;

verifying, by the second financial account issuer server, that the second portion of the amount is available in the second financial account; and

debiting, by the second financial account issuer server, the second portion of the amount from the second financial account,

wherein the first financial account issuer server receives a request to debit the amount from a first financial account having a first identifier, wherein the first financial account issuer server issued the first financial account, and

wherein the first financial account issuer server acquires an allocation rule associated with the first identifier, based upon the allocation rule, a first portion of the amount from the first financial account, calculates, based on the allocation rule, the second portion, and allocates, based upon the allocation rule, the second portion of the amount to the second financial account.