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

• US 8,121,922 B2
• Filed: 02/21/2011
• Issued: 02/21/2012
• 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:
  US13/031,284
• Publication Number:
  US 20110145121A1
• Time in Patent Office: 365 Days
• Field of Search: 705/1, 705/1.1, 705/26, 705/26.1, 705/27, 705/30, 705/35, 705 38- 40, 705/80, 235379-381
• 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

According to some embodiments, a central controller receives a 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 may be generated that reflect installment charges to be paid.

Claims

1. A method, comprising:

receiving a purchase price of a purchase and a financial account identifier specifying a financial account;

determining, by a controller in communication with at least one seller and comprising at least one processor, at least one installment plan offer for the purchase;

transmitting the at least one installment plan offer;

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

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

determining, by the controller, 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

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

the plurality of individual charges for the respective purchase prices, and

at least one installment charge amount, the at least one installment charge amount including the determined installment charge amount.

2. The method of claim 1, further comprising, prior to determining 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 determining 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:

receiving an installment payment; and

incrementing a reward based on the installment payment.

6. The method of claim 5, further comprising:

receiving the final installment plan payment; and

issuing a full value of the reward to the purchaser.

7. The method of claim 1, in which receiving a purchase price of a purchase and a financial account identifier specifying a financial account comprises receiving the purchase price of the purchase and the financial account identifier specifying the financial account via a point of sale terminal.

8. The method of claim 1, in which transmitting the at least one installment plan offer comprises transmitting the at least one installment plan offer to a point of sale terminal.

9. A non-transitory computer readable medium storing instructions configured to direct a processor for:

receiving a purchase price of a purchase and a financial account identifier specifying a financial account;

determining, by a controller in communication with at least one seller and comprising at least one processor, at least one installment plan offer for the purchase;

transmitting the at least one installment plan offer;

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

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

determining, by the controller, 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

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

the plurality of individual charges for the respective purchase prices, and

at least one installment charge amount, the at least one installment charge amount including the determined installment charge amount.

10. The non-transitory computer readable medium of claim 9, which further comprises instructions configured to direct the processor to prior to determining 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.

11. The non-transitory computer readable medium of claim 10, 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.

12. The non-transitory computer readable medium of claim 9, in which the instructions for determining 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.

13. The non-transitory computer readable medium of claim 9, which further comprises instructions configured to direct the processor for:

receiving an installment payment; and

incrementing a reward based on the installment payment.

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

receiving the final installment plan payment; and

issuing a full value of the reward to the purchaser.

15. The non-transitory computer readable medium of claim 9, in which receiving a purchase price of a purchase and a financial account identifier specifying a financial account comprises receiving the purchase price of the purchase and the financial account identifier specifying the financial account via a point of sale terminal.

16. The non-transitory computer readable medium of claim 9, in which transmitting the at least one installment plan offer comprises transmitting the at least one installment plan offer to a point of sale terminal.

17. 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 specifying a financial account;

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;

determine 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

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

the plurality of individual charges for the respective purchase prices, and

at least one installment charge amount, the at least one installment charge amount including the determined installment charge amount.

18. The apparatus of claim 17, which further comprises instructions configured to direct the processor to prior to determining 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.

19. The apparatus of claim 18, 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.

20. The apparatus of claim 17, in which the instructions for determining 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.

21. The apparatus of claim 17, which further comprises instructions configured to direct the processor for:

receiving an installment payment; and

incrementing a reward based on the installment payment.

22. The apparatus of claim 21, which further comprises instructions configured to direct the processor for:

receiving the final installment plan payment; and

issuing a full value of the reward to the purchaser.

23. The apparatus of claim 17, in which receiving a purchase price of a purchase and a financial account identifier specifying a financial account comprises receiving the purchase price of the purchase and the financial account identifier specifying the financial account via a point of sale terminal.

24. The apparatus of claim 17, in which transmitting the at least one installment plan offer comprises transmitting the at least one installment plan offer to a point of sale terminal.