Payment entity account set up for multiple payment methods

• US 8,666,865 B2
• Filed: 09/26/2012
• Issued: 03/04/2014
• Est. Priority Date: 10/30/2007
• Status: Active Grant

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Mullen, Matthew James, Marchetti, John Nicholas
• Primary Examiner(s): NGUYEN, TIEN C
• Application Number:
  US13/627,949
• Publication Number:
  US 20130117178A1
• Time in Patent Office: 524 Days
• Field of Search: 709/724, 705/44, 705/35, 705/39, 705/30, 705/40, 705/42, 455/41.1, 235/375
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data

Abstract

A method begins with a payment entity device receiving payables process data from a client device. The payables process data includes a list of a plurality of creditors and associated payment data, wherein, for a creditor of the plurality of creditors, the associated payment data includes at least one payment scheme for paying at least a portion of debt owed to the creditor via at least one of: a client credit card, a funds transfer, commercial paper, tangible consideration, and a debit account. The method continues with the payment entity device determining level of service for a client associated with the client device. The method continues with the payment entity device generating a payables profile for the client based on the payables process data in accordance with the level of service.

Claims

1. A method performed by a computing device, the method comprising:

receiving, by the computing device, payables process data of a client that pays a plurality of creditors, wherein the payable process data includes identification information and associated payment data for the plurality of creditors, and wherein the associated payment data includes a first payment scheme corresponding to payment of a first type of debt owed to one of the plurality of creditors and a second payment scheme corresponding to payment of a second type of debt owed to the same creditor,

wherein the first type of debt includes one of;

transactions at or above a value threshold, transactions corresponding to a first category of goods or services, and transactions corresponding to a second category of goods or services, and wherein the second type of debt includes a different one of;

transactions at or above the value threshold, transactions corresponding to the first category of goods or services, and transactions corresponding to the second category of goods or services;

determining, by the computing device, that the client is associated with a first level of service or a second level of service; and

generating, by the computing device, a payables profile of the client, wherein the payables profile is generated based on the received payables process data and the determined level of service,

wherein when the determined level of service is the first level of service, generating the payables profile of the client comprises storing, by the computing device, the first and second payment schemes included in the payables process data, and

wherein when the determined level of service is the second level of service, generating the payables profile of the client comprises analyzing payment program data and modifying the first or second payment scheme based on the analyzed payment program data.

2. The method of claim 1, wherein the computing device is a payment entity device configured to facilitate payment and reconciliation of accounts payable.

3. The method of claim 1, wherein the computing device is a client device operated by the client.

4. The method of claim 1, wherein the first payment scheme includes one of:

a credit account, a debit account, a funds transfer, commercial paper, and monetary consideration, and wherein the second payment scheme includes a different one of;

the credit account, the debit account, the funds transfer, the commercial paper, and the monetary consideration.

5. The method of claim 1, wherein the first level of service corresponds to a basic account selected by the client during an enrollment process, and wherein the second level of service corresponds to an advanced account selected by the client during the enrollment process.

6. The method of claim 1, wherein the payment program data includes a list of financial institutions and corresponding payment types processed by the financial institutions.

7. The method of claim 6, wherein the payment program data further includes one or more of:

processing fees, interest rates, reward programs, and rebates associated with the payment types processed by the financial institutions.

8. The method of claim 1, wherein analyzing the payment program data comprises identifying a more optimal payment scheme, and wherein modifying the first or second payment scheme comprises replacing the first or second payment scheme with the more optimal payment scheme in the generated payables profile.

9. The method of claim 1 further comprising:

providing the more optimal payment scheme to the client as a recommendation; and

receiving a selection from the client of the more optimal payment scheme before replacing the first or second payment scheme with the more optimal payment scheme in the generated payables profile.

10. The method of claim 1, wherein the first type of debt includes transactions corresponding to a first category of goods, and wherein the second type of debt includes transactions corresponding to a secondary category of goods.

11. The method of claim 1, wherein the associated payment data includes a shipping payment scheme for paying shipping debt associated with goods received from the one of the plurality of creditors, wherein the shipping payment scheme is different than the first and second payment schemes, and wherein generating the payables profile for the client further comprises storing the shipping payment scheme.

12. The method of claim 1, wherein the associated payment data includes a tax payment scheme for paying taxes associated with goods or services received from the one of the plurality of creditors, wherein the tax payment is different than the first and second payment schemes, and wherein generating the payables profile for the client further comprises storing the tax payment scheme.

13. A computing device comprising:

a processor; and

a memory coupled to the processor, wherein the memory comprises code executable by the processor for implementing a method comprising;

receiving, by the computing device, payables process data of a client that pays a plurality of creditors, wherein the payable process data includes identification information and associated payment data for the plurality of creditors, and wherein the associated payment data includes a first payment scheme corresponding to payment of a first type of debt owed to one of the plurality of creditors and a second payment scheme corresponding to payment of a second type of debt owed to the same creditor,

wherein the first type of debt includes one of;

transactions at or above a value threshold, transactions corresponding to a first category of goods or services, and transactions corresponding to a second category of goods or services, and wherein the second type of debt includes a different one of;

transactions at or above the value threshold, transactions corresponding to the first category of goods or services, and transactions corresponding to the second category of goods or services;

determining, by the computing device, that the client is associated with a first level of service or a second level of service; and

generating, by the computing device, a payables profile of the client, wherein the payables profile is generated based on the received payables process data and the determined level of service,

wherein when the determined level of service is the first level of service, generating the payables profile of the client comprises storing, by the computing device, the first and second payment schemes included in the payables process data, and

wherein when the determined level of service is the second level of service, generating the payables profile of the client comprises analyzing payment program data and modifying the first or second payment scheme based on the analyzed payment program data.

14. The computing device of claim 13, wherein the computing device is a payment entity device configured to facilitate payment and reconciliation of accounts payable.

15. The computing device of claim 13, wherein the computing device is a client device operated by the client.

16. The computing device of claim 13, wherein the first payment scheme includes one of:

a credit account, a debit account, a funds transfer, commercial paper, and monetary consideration, and wherein the second payment scheme includes a different one of;

the credit account, the debit account, the funds transfer, the commercial paper, and the monetary consideration.

17. The computing device of claim 13, wherein the first level of service corresponds to a basic account selected by the client during an enrollment process, and wherein the second level of service corresponds to an advanced account selected by the client during the enrollment process.

18. The computing device of claim 13, wherein the payment program data includes a list of financial institutions and corresponding payment types processed by the financial institutions.

19. The computing device of claim 18, wherein the payment program data further includes one or more of:

processing fees, interest rates, reward programs, and rebates associated with the payment types processed by the financial institutions.

20. The computing device of claim 13, wherein analyzing the payment program data comprises identifying a more optimal payment scheme, and wherein modifying the first or second payment scheme comprises replacing the first or second payment scheme with the more optimal payment scheme in the generated payables profile.

21. The computing device of claim 13, wherein the memory further comprises code executable by the processor for implementing a method comprising:

providing the more optimal payment scheme to the client as a recommendation; and

receiving a selection from the client of the more optimal payment scheme before replacing the first or second payment scheme with the more optimal payment scheme in the generated payables profile.