Payment system and methods
First Claim
Patent Images
1. 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 which is a physical geographic premises, 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, ofreceiving a signal from the payment token;
- sending the signal received from the payment token into a routing system;
depending on a signal received from a second system in which is stored an association between the signal received from the payment token 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 that is in communication with the Federal Reserve Automated Clearing House (ACH) system.
4 Assignments
0 Petitions
Accused Products
Abstract
Disclosed are payment system and methods.
107 Citations
18 Claims
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1. 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 which is a physical geographic premises, 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 signal from the payment token; -
sending the signal received from the payment token into a routing system; depending on a signal received from a second system in which is stored an association between the signal received from the payment token 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 that is in communication with the Federal Reserve Automated Clearing House (ACH) system. - View Dependent Claims (2, 3, 4)
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5. A decoupled debit payment method for a shopper to accomplish payment using his checking account and at a retail site which is a physical geographic premises, but without having carried with him a paper check, a magnetic-striped card or a bar-coded card, comprising method steps of:
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operating a pre-shopping enrollment process, by which the payment token is entered as set of data and is an enrolled payment token comprising receiving a US checking account number, and storing, in a database, the data comprising the US checking account number; configuring the retail site so that when the shopper uses or presents the enrolled payment token at the retail site, electronic processes are put into motion by which communication with ACH is accomplished; wherein the shopper accomplishes payment at the retail site using his checking account but without having carried with him a paper check, a magnetic-striped card or a bar-coded card. - View Dependent Claims (6)
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7. A decoupled debit automated system in communication with the Federal Reserve Automated Clearing House (ACH) system, comprising:
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at least one computer; a set of stored data for a payment token that had been obtained when the payment token was enrolled through a pre-shopping enrollment process, wherein the stored data is used by the automated system in order for the payment token to be recognized when used at a retail site; wherein the system performs the following steps, wherein each step is performed by a computer; receiving a signal from the payment token wherein the payment token is a physical possession of a holder, wherein the holder also is an owner of a checking account at a financial institution which is an ACH member, and the payment token is not a card with a magnetic stripe or bar code; sending the signal received from the payment token into a routing system to cause an ACH entry to be sent to the ACH system; after the sending step, receiving a signal, and depending on the signal received, conditionally effecting a transaction with the holder of the payment token. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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Specification