Systems and methods for facilitating transactions with interest
First Claim
1. A method for a financial account issuer server to facilitate a transaction between a first party and a second party, the method comprising:
- receiving, by the financial account issuer server, a first application for a first financial account from the first party, wherein the financial account issuer server is a processing engine having a non-transitory memory, and wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party;
facilitating, by the financial account issuer server, creation of the first financial account for the first party and a registration of the first party to participate in the transaction management, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party;
obtaining, by the financial account issuer server, first party credit information from at least one of the financial account issuer server or a third party;
determining, by the financial account issuer server, that the first party is eligible for obtaining the first financial account based on the first party credit information and the transaction management information;
obtaining, by the financial account issuer server, first party fraud risk information from at least one of the financial account issuer server or the third party;
determining, by the financial account issuer server, that the first party is eligible to participate in the transaction management based on a fraud risk analysis of the first party fraud risk information;
transmitting, by the financial account issuer server, the first financial account identifier to the first party;
receiving, at the financial account issuer server, a second application for a second financial account from the second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and the first party;
facilitating, by the financial account issuer server, creation of the second financial account for the second party and a registration of the second party to participate in the transaction management, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party;
obtaining, by the financial account issuer server, second party credit information from at least one of the financial account issuer server or the third party;
determining, by the financial account issuer server, that the second party is eligible for obtaining the second financial account based on the second party credit information and the transaction management information;
obtaining, by the financial account issuer server, second party fraud risk information from at least one of the financial account issuer server or the third party;
determining, by the financial account issuer server, that the second party is eligible to participate in the transaction management based on a fraud risk analysis of the second party fraud risk information;
transmitting, by the financial account issuer server, the second financial account identifier to the second party;
receiving, by the financial account issuer server, a request to debit a first amount from the first financial account;
receiving, by the financial account issuer server, a request to credit at least a portion of the first amount to the second financial account;
verifying, by the financial account issuer server, availability of the first amount in the first financial account for completing the transaction;
determining, by the financial account issuer server, if the request to debit the first financial account and the request to credit the second financial account are fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account;
facilitating debiting, by the financial account issuer server, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent;
facilitating crediting, by the financial account issuer server, at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent; and
facilitating payment, by the financial account issuer server, of interest to the second financial account on the at least a portion of the first amount credited to the second financial account.
5 Assignments
0 Petitions
Accused Products
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 includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.
125 Citations
19 Claims
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1. A method for a financial account issuer server to facilitate a transaction between a first party and a second party, the method comprising:
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receiving, by the financial account issuer server, a first application for a first financial account from the first party, wherein the financial account issuer server is a processing engine having a non-transitory memory, and wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party; facilitating, by the financial account issuer server, creation of the first financial account for the first party and a registration of the first party to participate in the transaction management, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party; obtaining, by the financial account issuer server, first party credit information from at least one of the financial account issuer server or a third party; determining, by the financial account issuer server, that the first party is eligible for obtaining the first financial account based on the first party credit information and the transaction management information; obtaining, by the financial account issuer server, first party fraud risk information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the first party is eligible to participate in the transaction management based on a fraud risk analysis of the first party fraud risk information; transmitting, by the financial account issuer server, the first financial account identifier to the first party; receiving, at the financial account issuer server, a second application for a second financial account from the second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and the first party; facilitating, by the financial account issuer server, creation of the second financial account for the second party and a registration of the second party to participate in the transaction management, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party; obtaining, by the financial account issuer server, second party credit information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the second party is eligible for obtaining the second financial account based on the second party credit information and the transaction management information; obtaining, by the financial account issuer server, second party fraud risk information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the second party is eligible to participate in the transaction management based on a fraud risk analysis of the second party fraud risk information; transmitting, by the financial account issuer server, the second financial account identifier to the second party; receiving, by the financial account issuer server, a request to debit a first amount from the first financial account; receiving, by the financial account issuer server, a request to credit at least a portion of the first amount to the second financial account; verifying, by the financial account issuer server, availability of the first amount in the first financial account for completing the transaction; determining, by the financial account issuer server, if the request to debit the first financial account and the request to credit the second financial account are fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account; facilitating debiting, by the financial account issuer server, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; facilitating crediting, by the financial account issuer server, at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent; and facilitating payment, by the financial account issuer server, of interest to the second financial account on the at least a portion of the first amount credited to the second financial account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for using a financial account issuer server to facilitate a transaction between a first party and a second party, the method comprising:
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sending, by a user computer and to the financial account issuer server, a first financial account identifier associated with a first financial account, wherein the financial account issuer server issued the first financial account; sending, by the user computer and to the financial account issuer, a request to debit a first amount from the first financial account, wherein the financial account issuer server verifies availability of the first amount in the first financial account for completing the transaction; sending, by the user computer and to the financial account issuer server, a second financial account identifier associated with a second financial account; sending, by the user computer and to the financial account issuer server, a request to credit at least a portion of the first amount to the second financial account, wherein the financial account issuer server determines if the request to debit and the request to credit the second financial account are fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account, and wherein the financial account issuer server facilitates debiting the first amount from the first financial account if the request to debit the first financial account is not fraudulent and wherein the financial account issuer server facilitates crediting at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent; and
,receiving, by the user computer, interest in the second financial account on the at least a portion of the first amount credited to the second financial account, wherein the financial account issuer server; receives a first application for the first financial account from a first party, wherein the financial account issuer server is a processing engine having a non-transitory memory, and wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party; facilitates creation of the first financial account for the first party and a registration of the first party to participate in the transaction management, wherein the registration includes the first financial account identifier for identifying the first financial account associated with the first party; obtains first party credit information from at least one of the financial account issuer server or a third party; determines that the first party is eligible for obtaining the first financial account based on the first party credit information and the transaction management information; obtains first party fraud risk information from at least one of the financial account issuer server or the third party; determines that the first party is eligible to participate in the transaction management based on a fraud risk analysis of the first party fraud risk information; transmits the first financial account identifier to the first party; receives a second application for the second financial account from a second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and the first party; facilitates creation of the second financial account for the second party and a registration of the second party to participate in the transaction management, wherein the registration includes the second financial account identifier for identifying the second financial account associated with the second party; obtains second party credit information from at least one of the financial account issuer server or the third party; determines that the second party is eligible for obtaining the second financial account based on the second party credit information and the transaction management information; obtains second party fraud risk information from at least one of the financial account issuer server or the third party; determines that the second party is eligible to participate in the transaction management based on a fraud risk analysis of the second party fraud risk information; and transmits the second financial account identifier to the second party.
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19. An article of manufacture including a non-transitory, tangible computer readable medium having stored thereon a plurality of instructions for a financial account issuer server to facilitate a transaction between a first party and a second party that, in response to execution by the financial account issuer server, cause the financial account issuer server to perform operations comprising:
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receiving, by the financial account issuer server, a first application for a first financial account from the first party, wherein the financial account issuer server is a processing engine having a non-transitory memory, and wherein the first application comprises fields which include financial account information for establishing the first financial account and transaction management information relating to facilitating transaction management between the first party and a second party; facilitating, by the financial account issuer server, creation of the first financial account for the first party and a registration of the first party to participate in the transaction management, wherein the registration includes a first financial account identifier for identifying the first financial account associated with the first party; obtaining, by the financial account issuer server, first party credit information from at least one of the financial account issuer server or a third party; determining, by the financial account issuer server, that the first party is eligible for obtaining the first financial account based on the first party credit information and the transaction management information; obtaining, by the financial account issuer server, first party fraud risk information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the first party is eligible to participate in the transaction management based on a fraud risk analysis of the first party fraud risk information; transmitting, by the financial account issuer server, the first financial account identifier to the first party; receiving, at the financial account issuer server, a second application for a second financial account from the second party, wherein the second application comprises fields which include financial account information for establishing the second financial account and transaction management information relating to facilitating transaction management between the second party and the first party; facilitating, by the financial account issuer server, creation of the second financial account for the second party and a registration of the second party to participate in the transaction management, wherein the registration includes a second financial account identifier for identifying the second financial account associated with the second party; obtaining, by the financial account issuer server, second party credit information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the second party is eligible for obtaining the second financial account based on the second party credit information and the transaction management information; obtaining, by the financial account issuer server, second party fraud risk information from at least one of the financial account issuer server or the third party; determining, by the financial account issuer server, that the second party is eligible to participate in the transaction management based on a fraud risk analysis of the second party fraud risk information; transmitting, by the financial account issuer server, the second financial account identifier to the second party; receiving, by the financial account issuer server, a request to debit a first amount from the first financial account; receiving, by the financial account issuer server, a request to credit at least a portion of the first amount to the second financial account; verifying, by the financial account issuer server, availability of the first amount in the first financial account for completing the transaction; determining, by the financial account issuer server, if the request to debit the first financial account and the request to credit the second financial account are fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account; facilitating debiting, by the financial account issuer server, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; facilitating crediting, by the financial account issuer server, at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent; and facilitating payment, by the financial account issuer server, of interest to the second financial account on the at least a portion of the first amount credited to the second financial account.
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Specification