Method and system for expediting payment delivery

• US 8,290,863 B2
• Filed: 11/23/2005
• Issued: 10/16/2012
• Est. Priority Date: 07/23/2004
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Sheehan, Mark, Acharya, Ravi
• Primary Examiner(s): Shaawat, Mussa A
• Application Number:
  US11/284,920
• Publication Number:
  US 20070055625A1
• Time in Patent Office: 2,519 Days
• Field of Search: 705/40
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A method and system of the present invention are directed to expediting payments for scheduled delivery (e.g., same day delivery, next day delivery) to various payees or recipients. A computer implemented method and system for expediting payments may include receiving recipient data and payment data from a customer at a remote location; wherein recipient data comprises recipient identifier and payment data comprises payment type and delivery time; obtaining a payment instrument based at least in part on the payment data; debiting an amount of the payment instrument from an account identified by the customer; and delivering the payment instrument to a facility; wherein the facility delivers the payment instrument to a recipient identified by the recipient data entered by the customer.

Claims

1. A computer implemented method for expediting payments, wherein the method is executed by a programmed computer processor which communicates with a customer via a network, the computer implemented method comprising the steps of:

receiving, at an information module using at least the programmed computer processor, recipient data and payment data from the customer at a remote location via the network, wherein the recipient data comprises a recipient identifier and the payment data comprises a delivery time designated by the customer;

obtaining, at a payment module using at least the programmed computer processor, a stored value card via the network;

debiting, at the payment module using at least the programmed computer processor, an amount of the stored value card from an account identified by the customer; and

delivering, by a delivery module using at least the programmed computer processor, the stored value card to a facility via the network, wherein the facility delivers the stored value card to a recipient identified by the recipient data and by the delivery time entered by the customer, wherein the stored value card is delivered to the recipient on the same day that the customer enters the recipient data and payment data; and

wherein the recipient provides authentication data before the stored value card is activated, wherein the authentication data is provided to a service provider associated with the stored value card, wherein the stored value card is activated for a designated value after authentication data from the recipient is verified.

2. The method of claim 1, further comprising the step of:

associating one or more documents from the customer with the stored value card for delivery to the recipient.

3. The method of claim 1, further comprising the step of:

providing a tracking identifier to the customer for tracking the delivering of the stored value card to the recipient.

4. The method of claim 1, further comprising the step of:

providing status data of the stored value card to one or more of the facility and the recipient.

5. The method of claim 1, wherein the steps of claim 1 are performed at a financial institution location.

6. The method of claim 5, wherein the stored value card is generated at the financial institution location.

7. The method of claim 1, further comprising the step of:

authenticating the customer to confirm identity of the customer.

12. The system of claim 8, wherein the steps of claim 1 are performed at a financial institution location.

13. The system of claim 12, wherein the stored value card is generated at the financial institution location.

15. A computer readable medium comprising instructions, performing the method as recited in claim 1.

8. A computer implemented system for expediting payments, wherein the system comprises a programmed computer processor that communicates with a customer via a network, the computer implemented system comprising:

an information module using at least the programmed computer processor for receiving recipient data and payment data from the customer at a remote location via the network, wherein the recipient data comprises recipient identifier and payment data comprises a delivery time designated by the customer;

a payment module using at least the programmed computer processor for obtaining a stored value card via the network-and debiting an amount of the payment instrument from an account identified by the customer; and

a delivery module using at least the programmed computer processor for delivering the stored value card to a facility, wherein the facility delivers the stored value card to a recipient identified by the recipient data and by the delivery time entered by the customer, wherein the stored value card is delivered to the recipient on the same day that the customer enters the recipient data and payment; and

wherein the recipient provides authentication data before the stored value card is activated, wherein the authentication data is provided to a service provider associated with the stored value card, wherein the stored value card is activated for a designated value after authentication data from the recipient is verified.

9. The system of claim 8, further comprising the step of:

associating one or more documents from the customer with the stored value card for delivery to the recipient.

10. The system of claim 8, further comprising the step of:

providing a tracking identifier to the customer for tracking the delivering of the stored value card to the recipient.

11. The system of claim 8, further comprising the step of:

providing status data of the stored value card to one or more of the facility and the recipient.

14. The system of claim 8, further comprising the step of:

authenticating the customer to confirm identity of the customer.