System and method for providing supplemental payment or transaction information

• US 8,762,270 B1
• Filed: 06/10/2008
• Issued: 06/24/2014
• Est. Priority Date: 08/10/2007
• 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: Evans, Steven E., Pierce, Suzanne Dallmeyer
• Primary Examiner(s): Shafi, Muhammad
• Assistant Examiner(s): Malhotra, Sanjeev
• Application Number:
  US12/136,500
• Time in Patent Office: 2,205 Days
• Field of Search: 705/26, 705/26.1, 705/30, 705/35, 705/39, 705/40, 705/45, 705/75, 379/114.14, 382/101, 455/406
• US Class Current: 705/40
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A system and method for providing supplemental payment or transaction information. The method comprising the steps of receiving at least one payment file from at least one payor; receiving at least one supplemental payment information file from the at least one payor or at least one provider; associating the at least one supplemental payment information file with the corresponding at least one payment file; determining whether there is a payment discrepancy based on the at least one supplemental information file and the corresponding at least one payment file; and preparing at least one payment explanation file, wherein the payment explanation file comprises data or information based on the payment file and an explanation.

Claims

1. A method for providing supplemental payment information, comprising:

receiving, using a payment processor, at least one payment file from at least one payor;

receiving, using a supplemental information processor, at least one supplemental payment information file from the at least one payor or at least one provider;

associating, using an association processor, the at least one supplemental payment information file with a corresponding at least one payment file and further identifying a corresponding account and a corresponding account holder; and

determining, using a discrepancy determination processor, whether there is a payment discrepancy between the at least one supplemental payment information file and the corresponding at least one payment file;

preparing, using an explanation processor, at least one payment explanation file, wherein the payment explanation file comprises data or information based on the at least one supplemental payment information file and the corresponding at least one payment file and an explanation of the payment discrepancy; and

providing, using the explanation processor, the explanation of the payment discrepancy to the account holder.

2. The method of claim 1 wherein the at least one payment file comprises at least one payment amount and at least one payment date.

3. The method of claim 1 wherein the at least one payment file comprises at least one automated clearinghouse (ACH) file.

4. The method of claim 1 wherein the at least one supplemental payment information comprises information corresponding to a payment or other transaction in the at least one payment file.

5. The method of claim 1 wherein the payment discrepancy comprises a difference between a payment information in the at least one supplemental payment information file and a payment or other transaction information in the at least one payment file.

6. The method of claim 1 wherein the at least one payment explanation file comprises an explanation of a payment difference between the supplemental payment information file and the at least one payment file.

7. The method of claim 1 wherein the at least one payment explanation file is accessible over a communications network.

8. The method of claim 1 wherein the at least one payment explanation file is associated with a statement.

9. The method of claim 8 wherein the statement is an electronic statement or a hardcopy paper statement.

10. The method of claim 1 further comprising the step of translating the supplemental information contained in the supplemental payment information file.

11. A system for providing supplemental payment information, comprising:

a payment processor configured to receive at least one payment file from at least one payor;

a supplemental information processor configured to receive at least one supplemental payment information file from the at least one payor or at least one provider;

an association processor configured to associate the at least one supplemental payment information file with a corresponding at least one payment file and further configured to identify a corresponding account and a corresponding account holder;

a discrepancy determination processor configured to determine whether there is a payment discrepancy based on the at least one supplemental information file and the corresponding at least one payment file; and

an explanation processor configured to prepare at least one payment explanation file, wherein the payment explanation file comprises data or information based on the at least one supplemental information file and the corresponding at least one payment file and an explanation of the payment discrepancy and further configured to provide the explanation of the payment discrepancy to the account holder.

12. The system of claim 11 wherein the at least one payment file comprises at least one payment amount and at least one payment date.

13. The system of claim 11 wherein the at least one payment file comprises at least one automated clearinghouse (ACH) file.

14. The system of claim 11 wherein the at least one supplemental payment information comprises information corresponding to a payment or other transaction in the at least one payment file.

15. The system of claim 11 wherein the payment discrepancy comprises a difference between a payment information in the at least one supplemental payment information file and a payment or other transaction information in the at least one payment file.

16. A method for providing supplemental payment information, comprising:

receiving, using a payment processor, at least one payment;

associating, using an association processor, each of the at least one payment to an account or user;

receiving, using a supplemental information processor, at least one supplemental payment or transaction information;

associating, using an association processor, each of the at least one supplemental payment or transaction information file with the account or user;

determining, using a discrepancy determination processor, for each account or user, a total payment based at least in part on the at least one supplemental payment or transaction information;

generating, using an explanation processor, a statement explaining the total payment, wherein the statement comprises data or information compiled from the at least one supplemental payment or transaction information; and

providing, using the explanation processor, the statement to the user.

17. The method of claim 16 wherein the at least one supplemental file is received from at least one payor or provider.

18. The method of claim 16 wherein the total payment comprises the sum of all payments corresponding to the account or user.

19. The method of claim 16 wherein the statement is provided to the user electronically.

20. The method of claim 16 wherein the statement is provided to the user in hardcopy format.

21. The method of claim 16 wherein the user accesses the statement over a communications network.