Systems and methods for facilitating transactions with different account issuers

• US 7,925,585 B2
• Filed: 09/30/2008
• Issued: 04/12/2011
• Est. Priority Date: 11/05/1999
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Thomas, Tracey R., Sharma, Bansi L., Bishop, Fred
• Primary Examiner(s): Patel, Jagdish N
• Application Number:
  US12/242,797
• Publication Number:
  US 20090048968A1
• Time in Patent Office: 924 Days
• Field of Search: 705/38, 705/39
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.

Claims

1. A method comprising:

receiving, at the first financial account issuer server for facilitating a transaction, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the request to debit includes the first identifier, the first amount to be debited and a second identifier associated with a second financial account, and wherein the first financial account issuer server issued the first financial account;

determining, by the first financial account issuer server, if the request to debit the first financial account is fraudulent;

debiting, by the first financial account issuer server, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; and

transmitting, from the first financial account issuer server to a second financial account issuer server, a request to credit at least a portion of the first amount to the second financial account having the second identifier associated with the second financial account, wherein the second financial account is issued by the second financial account issuer server, and wherein the second financial account issuer server determines if the request to credit the second financial account is fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account, and wherein the second financial account issuer server credits at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.

2. The method of claim 1, wherein the first amount comprises at least one of a monetary amount, a non-monetary amount, loyalty points, or monetary equivalent value.

3. The method of claim 1, further comprising depositing at least a portion of the first amount in an escrow account associated with at least one of the first financial account or the second financial account, prior to crediting at least a portion of the first amount to the second financial account.

4. The method of claim 1, further comprising receiving the request to debit from at least one of a seller, buyer or intermediary.

5. The method of claim 1, further comprising receiving the request to credit from at least one of a seller, buyer or intermediary.

6. The method of claim 1, further comprising receiving registration information from an intermediary, wherein the fraud analysis routine is at least partially based upon the registration information.

7. The method of claim 1, further comprising receiving a selection of the type of at least one of the first financial account or the second financial account, wherein the fraud analysis routine is at least partially based upon the type.

8. The method of claim 1, further comprising paying interest to the second financial account, wherein the interest is calculated based on the at least a portion of the first amount credited to the second financial account.

9. The method of claim 1, further comprising retaining, by the first financial account issuer server and in response to the debiting, a portion of the first amount as a transaction fee.

10. The method of claim 1, further comprising debiting, by the first financial account issuer server and in response to the debiting and the crediting, a transaction fee from at least one of the first financial account or the second financial account.

11. The method of claim 1, further comprising obtaining from a database, by the first financial account issuer server, previous transactions associated with at least one of the first identifier or the second identifier, and analyzing the previous transactions.

12. The method of claim 1, wherein the first financial account and the second financial account belong to the same customer.

13. The method of claim 1, further comprising debiting, by the second financial account issuer server, at least a portion of the first amount from the second financial account.

14. The method of claim 1, wherein the debiting is irrevocable.

15. The method of claim 1, further comprising tracking the debiting and crediting.

16. The method of claim 1, further comprising at least one of receiving contact information for a first party associated with the first financial account and notifying the first party, or receiving contact information for a second party associated with the second financial account and notifying the second party, in response to at least one of the debiting or the crediting.

17. The method of claim 1, further comprising at least one of receiving contact information for a first party associated with the first financial account and providing proof to the first party, or receiving contact information for a second party associated with the second financial account and providing proof to the second party, in response to at least one of the debiting or the crediting.

18. The method of claim 1, further comprising resolving a dispute between a first party associated with the first financial account and a second party associated with the second financial account, wherein the resolving includes analyzing information associated with at least one of the request to debit or the request to credit, and wherein the dispute is related to at least one of the request to debit or the request to credit.

19. The method of claim 1, wherein at least one of the first identifier or the second identifier is at least one of a proxy number, a limited-use number and a single use number.

20. A non-transitory, tangible computer-readable medium having stored thereon a plurality of instructions that, in response to execution by a first financial account issuer server for facilitating a transaction, cause the first financial account server to perform operations, comprising:

receiving, by the first financial account issuer server, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the request to debit includes the first identifier, the first amount to be debited and a second identifier associated with a second financial account, and wherein the first financial account issuer server issued the first financial account;

determining, by the first financial account issuer server, if the request to debit the first financial account is fraudulent;

debiting, by the first financial account issuer server, the first amount from the first financial account, if the request to debit the first financial account is not fraudulent; and

transmitting, from the first financial account issuer server to a second financial account issuer server, a request to credit at least a portion of the first amount to the second financial account having the second identifier associated with the second financial account, wherein the second financial account is issued by the second financial account issuer server, and wherein the second financial account issuer server determines if the request to credit the second financial account is fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account, and wherein the second financial account issuer server credits at least a portion of the first amount to the second financial account, if the request to credit the second financial account is not fraudulent.