Systems and methods for risk based determination of a form for crediting a payee on behalf of a payer

• US 7,853,524 B2
• Filed: 12/26/2001
• Issued: 12/14/2010
• Est. Priority Date: 07/25/1991
• Status: Expired due to Fees

• Current Assignee: Checkfree Corporation (Fiserv Incorporated)
• Original Assignee: Checkfree Corporation (Fiserv Incorporated)
• Inventors: Kight, Peter J., Johnson, Mark A., Cook, Kenneth, Christenson, Tamara K., Pointer, Philip, Lach, Regina
• Primary Examiner(s): CAMPEN, KELLY SCAGGS
• Application Number:
  US10/025,897
• Publication Number:
  US 20020062282A1
• Time in Patent Office: 3,275 Days
• Field of Search: 705/30, 705/34, 705/40, 705/41, 705/45, 705/42, 705/35, 705/39, 235/375, 235/380, 235/379
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Systems and methods for selecting a form for crediting a payee by a payment service provider include receiving a request to pay a payee on behalf of a payer. A form for crediting the payee is selected based on at least one of a comparison of a payer account number associated with the payer and the payee to a merchant account scheme associated with the payee or a comparison of a payment amount associated with the received request to a merchant credit limit associated with the payee. A payment is directed to the payee in accordance with the selected form for crediting.

Claims

1. A computer-implemented method for directing a payment, comprising:

receiving, at a payment service provider, a request to pay a payee on behalf of a payer;

selecting, by at least one payment service provider computer prior to a debiting of a financial account of the payer, a form for crediting the payee, wherein the selection is based on at least one of;

(i) comparing a payer account number associated with the payer and the payee to a merchant account scheme associated with the payee, or

(ii) comparing a payment amount associated with the received request to a merchant credit limit associated with the payee; and

directing, by the at least one payment service provider computer, a payment to the payee in accordance with the selected form for crediting.

2. The method of claim 1, wherein the form for crediting comprises at least one of (i) a check payable to the payee and written on an account of the payment service provider, (ii) an electronic credit, or (iii) a paper draft payable to the payee and written on an account of the payer.

3. The method of claim 2, wherein the selected form for crediting is a check written on an account of the payment service provider, and wherein the check is a consolidated check.

4. The method of claim 3, wherein the request is a first request and the payer is a first payer, and further comprising:

receiving a second request to pay the payee on behalf of a second payer; and

selecting, by the at least one payment service provider computer, a check written on an account of the payment service provider as the form for crediting the payee on behalf of the second payer;

wherein the consolidated check combines payment of the first request and payment of the second request.

5. The method of claim 3, further comprising:

transmitting, by the at least one payment service provider computer, a remittance list associated with the consolidated check to the payee.

6. The method of claim 2, wherein the electronic credit comprises at least one of (i) an Automated Clearing House (ACH) credit or (ii) a remittance processing system credit.

7. The method of claim 2, wherein the selected form for crediting is a paper draft, and the paper draft comprises posting information for the payee.

8. The method of claim 1, wherein selecting the form for crediting the payee is further based at least in part on an examination of a settlement code associated with the payee.

9. The method of claim 1, wherein selecting the form for crediting includes comparing the payment amount associated with the received request to a merchant credit limit associated with the payee, and further comprising:

selecting, by the at least one payment service provider computer, an electronic credit as the form for crediting the payee if the payment amount is less than or equal to the merchant credit limit.

10. The method of claim 1, wherein selecting the form for crediting includes comparing the payer account number associated with the payee to a merchant account scheme associated with the payee, and further comprising:

selecting, by the at least one payment service provider computer, a paper draft as the form for crediting the payee if the payer account number with the payee fails to correspond to the merchant account scheme.

11. A system, comprising:

an interface to a network configured to receive a request to make a payment to a payee on behalf of a payer; and

a processor configured (i) to select, prior to a debiting of a financial account of the payer, a form for crediting the payee based on at least one of (1) a comparison of a payer account number associated with the payer and the payee to a merchant account scheme associated with the payee, or (2) a comparison of a payment amount associated with the received request to a merchant credit limit associated with the payee, and (ii) to direct issuance of a payment to the payee in accordance with the selected form for crediting.

12. The system of claim 11, wherein the form for crediting comprises at least one of (i) a check payable to the payee written on an account of the payment service provider, (ii) an electronic credit, or (iii) a paper draft payable to the payee written on an account of the payer.

13. The system of claim 12, wherein the selected form for crediting is a check written on an account of the payment service provider, and wherein the check is a consolidated check.

14. The system of claim 13, wherein the request is a first request and the payer is a first payer, and wherein:

the interface is further configured to receive a second request to pay the payee on behalf of a second payer; and

the processor is further configured to select a check written on an account of the payment service provider as the form for crediting the payee on behalf of the second payer;

wherein the consolidated check combines payment of the first request and payment of the second request.

15. The system of claim 13, wherein:

the processor is further configured to direct the transmission of a remittance list associated with the consolidated check to the payee.

16. The system of claim 12, wherein the electronic credit comprises at least one of (i) an Automated Clearing House (ACH) credit or (ii) a remittance processing system credit.

17. The system of claim 12, wherein the selected form for crediting is a paper draft, and the paper draft contains posting information for the payee.

18. The system of claim 11, wherein the processor is further configured to select the form for crediting the payee based at least in part on an examination of a settlement code associated with the payee.

19. The system of claim 11, wherein the processor selects the form for crediting based at least in part on a comparison of the payment amount associated with the received request to a merchant credit limit associated with the payee, and

wherein the processor is further configured to select an electronic credit as the form for crediting if the payment amount is less than or equal to the merchant credit limit.

20. The system of claim 11, wherein the processor selects the form for crediting based at least in part on a comparison of the payer account number associated with the payee to a merchant account scheme associated with the payee,

wherein the processor is further configured to select a paper draft as the form for crediting if the payer account number with the payee fails to correspond to the merchant account scheme.

21. A system comprising:

means for receiving, at a payment service provider, a request to pay a payee on behalf of a payer;

means for selecting, prior to a debiting of a financial account of the payer, a form for crediting the payee, wherein the selection is based on at least one of;

(i) comparing a payer account number associated with the payer and the payee to a merchant account scheme associated with the payee, or

(ii) comparing a payment amount associated with the received request to a merchant credit limit associated with the payee; and

means for directing a payment to the payee in accordance with the selected form for crediting.