System, method, and business method for settling micropayment transactions to a pre-paid instrument
First Claim
1. A method, comprising:
- receiving a request from a merchant at a program storage device to authorize a proposed micropayment transaction to be settled against a prepaid instrument;
processing the request at a processor coupled to the program storage device;
responding to the request with an authorization decision; and
dispositioning the proposed micropayment transaction by the processor based on a monetary conversion rate for value units and a deduction in the value units corresponding to any incentives given by the merchant.
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Accused Products
Abstract
The invention provides a method, business method, and system for conducting micropayment transactions between consumers and merchants. A merchant offers micropayment transactions to a consumer. The micropayment transaction is authorized, and the micropayment transaction is executed between the merchant and the consumer. A value parameter associated with a prepaid instrument, such as a prepaid calling card, is decremented by an amount corresponding to the value provided by the merchant. A payment is transferred to the merchant to settle the micropayment transaction. The invention also provides a system for conducting micropayment transactions between consumers and merchants. At least one prepaid calling card is issued to a consumer in exchange for a payment from the consumer. A merchant site conducts micropayment transactions and accepts the prepaid calling card as payment. A clearinghouse receives data associated with the prepaid calling card from the merchant site and processes the data to settle the micropayment transaction.
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Citations
33 Claims
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1. A method, comprising:
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receiving a request from a merchant at a program storage device to authorize a proposed micropayment transaction to be settled against a prepaid instrument; processing the request at a processor coupled to the program storage device; responding to the request with an authorization decision; and dispositioning the proposed micropayment transaction by the processor based on a monetary conversion rate for value units and a deduction in the value units corresponding to any incentives given by the merchant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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33. A program storage device readable by a machine, tangibly embodying a program of instructions executable by the machine to perform:
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receiving a request from a merchant at a program storage device to authorize a proposed micropayment transaction to be settled against a prepaid instrument; processing the request at a processor coupled to the program storage device; responding to the request with an authorization decision; and dispositioning the proposed micropayment transaction by the processor based on a monetary conversion rate for value units and a deduction in the value units corresponding to any incentives given by the merchant.
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Specification