Payment system and methods
First Claim
Patent Images
1. A method for a system having a plurality of persons;
- a plurality of payment tokens issued under authority of an entity;
a retail site configured with a first signal, the first signal being common to the plurality of payment tokens;
a routing system for receiving a signal and generating a network address in response to the received signal, the routing system including a plurality of wide area communication links, the routing system being configured using the first signal, the system further including a second signal on a first payment token in the plurality of payment tokens; and
a second system storing an association between the second signal and account information, the entity and an owner of the second system not being affiliated, the entity not being affiliated with a retailer, method comprising the steps, performed at the retail site, of;
receiving the first and second signals from the first payment token;
sending the first and second signals into the routing system, to cause the second system to perform the steps of determining whether the first payment token can effect payment,responsive to the determining step, conditionally sending a message to cause an institution to send an ACH entry to the Federal Reserve ACH system, to pass the entry to a bank, where an account is issued a debit, to cause a transfer of funds to the owner of the retail site, andmaking an entry in an accounting system, to effectively increment an amount owed by the owner of the retail site to the owner of the second system,wherein the method further includes the step, performed at the retail site, of;
conditionally effecting a transaction with a holder of the first payment token, depending on a signal received from the second system.
4 Assignments
0 Petitions
Accused Products
Abstract
Disclosed are payment system and methods.
-
Citations
28 Claims
-
1. A method for a system having a plurality of persons;
- a plurality of payment tokens issued under authority of an entity;
a retail site configured with a first signal, the first signal being common to the plurality of payment tokens;
a routing system for receiving a signal and generating a network address in response to the received signal, the routing system including a plurality of wide area communication links, the routing system being configured using the first signal, the system further including a second signal on a first payment token in the plurality of payment tokens; and
a second system storing an association between the second signal and account information, the entity and an owner of the second system not being affiliated, the entity not being affiliated with a retailer, method comprising the steps, performed at the retail site, of;receiving the first and second signals from the first payment token; sending the first and second signals into the routing system, to cause the second system to perform the steps of determining whether the first payment token can effect payment, responsive to the determining step, conditionally sending a message to cause an institution to send an ACH entry to the Federal Reserve ACH system, to pass the entry to a bank, where an account is issued a debit, to cause a transfer of funds to the owner of the retail site, and making an entry in an accounting system, to effectively increment an amount owed by the owner of the retail site to the owner of the second system, wherein the method further includes the step, performed at the retail site, of;
conditionally effecting a transaction with a holder of the first payment token, depending on a signal received from the second system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
- a plurality of payment tokens issued under authority of an entity;
-
22. A method for a system having a plurality of persons;
- a plurality of payment tokens;
a retail site configured with a first signal, the first signal being common to the plurality of payment tokens;
a routing system for receiving a signal and generating a network address in response to the received signal, the routing system including a plurality of wide area communication links, the routing system being configured using the first signal, the system further including a second signal on a first payment token in the plurality of payment tokens; and
a second system storing an association between the second signal and account information, method comprising the steps, performed at the retail site, of;receiving the first and second signals from the first payment token; sending the first and second signals into the routing system, to cause the second system to perform the steps of determining whether the first payment token can effect payment, responsive to the determining step, conditionally sending a message to cause an institution to send an ACH entry to the Federal Reserve ACH system, to pass the entry to a bank, where an account is issued a debit, to cause a transfer of funds to the owner of the retail site, and making an entry in an accounting system, to effectively increment an amount owed by the owner of the retail site to the owner of the second system, wherein the method further includes the step, performed at the retail site, of;
conditionally effecting a transaction with a holder of the first payment token, depending on a signal received from the second system. - View Dependent Claims (23, 24, 25, 26)
- a plurality of payment tokens;
-
27. A decoupled debit payment method for a holder of a United States checking account with a financial institution to accomplish a purchase at a retail site, wherein the checking account holder has physical possession of a payment token, the payment token not being a card with a magnetic stripe or bar code, comprising steps, performed at the retail site, of:
-
receiving a first signal and a second signal from the payment token; sending the first signal and the second signal into a routing system; depending on a signal received from a second system in which is stored an association between the second signal and account information, conditionally effecting a transaction with the holder of the payment token;
whereby the holder of the payment token has accomplished the purchase at the retail site;wherein the steps are performed by a computer or computers within an automated system. - View Dependent Claims (28)
-
Specification