Systems and methods for per-transaction financial card enabled personal financial management
First Claim
1. A personal financial account management system for payment of a point of sales payment transaction related to a purchase by a user comprising:
- a point of sale financial transaction account management system having a processor, a memory, a network interface and computer executed instructions configuring the system for management and administration of a primary account for use with a financial point of sale transaction card having a magnetic strip readable by a magnetic reader at one or a plurality of transaction process systems and for reviewing and authorizing in at least near real time the payment transactions received from a point of sale transaction processing system'"'"'s reading of the magnetic strip on the financial point of sale transaction car, the primary account having a plurality of subaccounts, the financial transaction account management system including a prefunded amount for each of the subaccounts within the primary account; and
the point of sale transaction processing system having a processor, a memory, a data communication interface and computer executed instructions configuring the point of sale transaction processing system for payment of a sales transaction having a point of sale transaction amount and for receiving input including a primary account number PAN from a magnetic financial card reader and for receiving a user selected subaccount indicator from among the plurality of subaccounts to be used for payment of the transaction amount, the point of sale transaction processing system transmitting the transaction amount, the received primary account number and the received subaccount indicator as a point of sale payment transaction request via the data communication interface that is communicatively coupled to the network interface of the financial transaction account management system,wherein the financial transaction account management system includes computer executable instructions for receiving from the point of sale transaction processing system the point of sale payment transaction request including the primary account, the subaccount indicator and the transaction amount, comparing the received point of sale transaction amount with the prefunded amount of the subaccount associated with the received subaccount indicator, determining an availability of the prefunded amount within the subaccount of the subaccount indicator and transmitting over the network interface a verification of available prefunded amount to the data communication interface of the point of sale transaction processing system responsive to a successful determination of availability of prefunded amount and transmitting over the network interface a lack of funds indication to the data communication interface of the point of sale transaction processing system responsive to an unsuccessful determination of availability of prefunded amounts, at least one of which is provided in at least near real time with the receipt of the payment transaction, and wherein the point of sale transaction processing system is configured to accept verification from the financial transaction account management system and provide an authorization indication of the verified point of sale payment transaction for the point of sale payment amount from the user selected subaccount.
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Accused Products
Abstract
Systems and methods for personal financial management using a financial card having a primary account with a plurality of subaccounts within the primary account, the systems and methods includes the financial management, transaction processing systems such as point of sales system, financial account management system and support systems are configured for processing transactions from user selected subaccounts within the primary account in real time at the time of processing each payment transaction and including processing each transaction from user selected subaccounts by indicating at the time of each transaction a particular transaction identifier indicating the particular subaccount within the primary account.
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Citations
22 Claims
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1. A personal financial account management system for payment of a point of sales payment transaction related to a purchase by a user comprising:
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a point of sale financial transaction account management system having a processor, a memory, a network interface and computer executed instructions configuring the system for management and administration of a primary account for use with a financial point of sale transaction card having a magnetic strip readable by a magnetic reader at one or a plurality of transaction process systems and for reviewing and authorizing in at least near real time the payment transactions received from a point of sale transaction processing system'"'"'s reading of the magnetic strip on the financial point of sale transaction car, the primary account having a plurality of subaccounts, the financial transaction account management system including a prefunded amount for each of the subaccounts within the primary account; and the point of sale transaction processing system having a processor, a memory, a data communication interface and computer executed instructions configuring the point of sale transaction processing system for payment of a sales transaction having a point of sale transaction amount and for receiving input including a primary account number PAN from a magnetic financial card reader and for receiving a user selected subaccount indicator from among the plurality of subaccounts to be used for payment of the transaction amount, the point of sale transaction processing system transmitting the transaction amount, the received primary account number and the received subaccount indicator as a point of sale payment transaction request via the data communication interface that is communicatively coupled to the network interface of the financial transaction account management system, wherein the financial transaction account management system includes computer executable instructions for receiving from the point of sale transaction processing system the point of sale payment transaction request including the primary account, the subaccount indicator and the transaction amount, comparing the received point of sale transaction amount with the prefunded amount of the subaccount associated with the received subaccount indicator, determining an availability of the prefunded amount within the subaccount of the subaccount indicator and transmitting over the network interface a verification of available prefunded amount to the data communication interface of the point of sale transaction processing system responsive to a successful determination of availability of prefunded amount and transmitting over the network interface a lack of funds indication to the data communication interface of the point of sale transaction processing system responsive to an unsuccessful determination of availability of prefunded amounts, at least one of which is provided in at least near real time with the receipt of the payment transaction, and wherein the point of sale transaction processing system is configured to accept verification from the financial transaction account management system and provide an authorization indication of the verified point of sale payment transaction for the point of sale payment amount from the user selected subaccount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A financial system for processing point of sale transaction payments with user oriented personal financial management support comprising:
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a network interface configured for interfacing with a remote point of sale transaction processing system over a communication network for receiving a primary account number, a point of sale transaction amount, and a subaccount indicator; a database including a plurality of primary accounts each having a plurality of subaccounts each associated with a subaccount indicator and each having a prefunded amount; a financial transaction account management system configured for management and administration of the primary accounts and the subaccounts within each primary account and point of sale transaction amounts in at least near real time, the financial transaction account management system including prefunded amounts for each of the subaccounts within each primary account and processing of transactions for payment of point of sale transaction amounts from each subaccount responsive to receiving the primary account number and the subaccount indicator.
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18. A method of providing personal financial management to a user using a debit card comprising:
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in a financial management system having a processor, a network interface, a memory and computer executable instructions including a database and for performing the processes of establishing in the database a primary account for the user having a primary account number for point of sale transactions; establishing in the database a plurality of subaccounts each with a subaccount indicator within the primary account and having a subaccount prefunded amount for point of sale transactions; receiving funding from the user for each of the subaccounts and indicating in the database the receipt of such funding in each of the subaccounts of the primary account for point of sale transactions; receiving over the network interface a point of sale transactions payment request from a point of sale transaction processing system located at a point of sale for payment authorization of a point of sale transaction payment associated with an activity of the user associated with the point of sale transaction processing system, the point of sale transactions payment request including a point of sale transaction amount, the primary account number, and a user selected subaccount indicator, wherein the received user selected subaccount indicator in the received payment request is one of the plurality of subaccount indicators associated with one of the plurality of subaccounts within the primary account associated with the received primary account number; verifying the availability of funds in the subaccount associated with the received user selected subaccount indicator within the received point of sale payment request in at least near real time; and transmitting over the network interface a point of sale transaction authorization to the point of sale transaction processing system in response in at least near real time to a positive verification of available funds within the subaccount associated with the received subaccount indicator. - View Dependent Claims (19, 20, 21, 22)
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Specification