SYSTEM AND METHOD FOR MASS TRANSIT MERCHANT PAYMENT

• US 20110302081A1
• Filed: 08/12/2011
• Published: 12/08/2011
• Est. Priority Date: 06/10/2005
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Saunders, Peter D., Peart, Lee J., Barnes, Brian T.
• Granted Patent: US 8,387,873 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G07B 15/04 comprising devices to free a barrier, turnstile, or the like turnstiles with registering means G07C9/10; coin-freed aspects G07F17/00
• CPC Class Codes: G07C 9/10 Movable barriers with registering means
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07F 7/0873 Details of the card reader
• CPC Class Codes: G07F 7/088 the card reader being part of the point of sale [POS] terminal or electronic cash register [ECR] itself
• CPC Class Codes: G07F 7/0893 the card reader reading the card in a contactless manner

Abstract

Methods, systems and computer program products are provided for enabling payment of transit system fees using a financial transaction instrument. Entry is permitted onto a transit system by recognition of information included in an identification number stored on a financial transaction instrument. The identification number stored on the financial transaction instrument is associated with a transit system fee registered for each use of the transit system. A plurality of transit system fees associated with the same identification number from use of the financial transaction instrument is aggregated, and payment for the aggregated transit system fees is requested from a transaction account associated with the financial transaction instrument.

Claims

1. A method, comprising:

receiving, by a computer based system for payment processing, a request for payment of a transit system fee, wherein the payment is from a financial transaction account;

receiving, by the computer based system, an identification code, wherein the identification code is associated with the transit system fee, and wherein the identification code permits entry into a transit system by recognition of the identification code;

matching, by the computer based system, the identification code with a transaction account code associated with the financial transaction account; and

settling, by the computer based system, the request for payment of the transit system fee.

2. The method of claim 1, wherein the transit system fee is registered for use on the transit system.

3. The method of claim 1, further comprising aggregating a plurality of the transit system fees associated with the identification code and incurred from use of the financial transaction instrument, to obtain aggregate transit system fees.

4. The method of claim 3, further comprising settling payment for the aggregate transit system fees.

5. The method of claim 1, further comprising recording the transit system fees associated with the same identification code for each use of the transit system.

6. The method of claim 1, wherein the identification code is created by a mass transit operator and is associated with a mass transit account.

7. The method of claim 1, wherein an authorization message for the transit system fee is obtained prior to requesting payment for the transit system fee.

8. The method of claim 1, wherein the receiving a request for payment further includes receiving an encrypted secondary transaction account code for matching with the transaction account code associated with the transaction account for processing and settlement.

9. The method of claim 8, wherein the secondary transaction account code is encrypted with a digital signature.

10. The method of claim 1, wherein the identification code is associated with a designation of a range of Mass Transit codes, each constituting a separate identification and provided by a transit system operator.

11. The method of claim 1, wherein a plurality of transit system fees are registered over a period of time and aggregated into a single financial transaction.

12. The method of claim 1, wherein a plurality of transit system fees are registered over a period of time and are tallied as a series of individual transactions prior to aggregation into a single transaction.

13. The method of claim 1, wherein the transaction account code associated with the financial transaction account is not stored on the transit system.

14. The method of claim 1, wherein the identification code permits entry into the transit system by being interrogated and recognized by radio frequency identification (RFID).

15. The method of claim 1, wherein the identification code permits entry into the transit system by being received from a magnetic stripe reader.

16. The method of claim 1, wherein the identification code permits entry into the transit system by being received from a smart card reader.

17. The method of claim 1, wherein the identification code is distinct from a transaction account code associated with the financial transaction account.

18. The method of claim 1, wherein the identification code is derived from a transaction account code associated with the financial transaction account.

19. A system comprising:

a non-transitory memory communicating with a processor for payment processing, the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising;

receiving, by the processor, a request for payment of a transit system fee, wherein the payment is from a financial transaction account;

receiving, by the processor, an identification code, wherein the identification code is associated with the transit system fee, and wherein the identification code permits entry into a transit system by recognition of the identification code;

matching, by the processor, the identification code with a transaction account code associated with the financial transaction account; and

settling, by the processor, the request for payment of the transit system fee.

20. A non-transitory, tangible computer readable medium having stored thereon computer executable instructions that, if executed by a computer based system for payment processing, cause the computer based system to perform operations comprising:

receiving, by the computer based system, a request for payment of a transit system fee, wherein the payment is from a financial transaction account;

receiving, by the computer based system, an identification code, wherein the identification code is associated with the transit system fee, and wherein the identification code permits entry into a transit system by recognition of the identification code;

matching, by the computer based system, the identification code with a transaction account code associated with the financial transaction account; and

settling, by the computer based system, the request for payment of the transit system fee.