Systems and methods for authorizing an allocation of an amount between transaction accounts

• US 8,103,584 B2
• Filed: 01/16/2009
• Issued: 01/24/2012
• 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 A.
• Primary Examiner(s): Patel, Jagdish
• Application Number:
  US12/355,467
• Publication Number:
  US 20090150271A1
• Time in Patent Office: 1,103 Days
• Field of Search: 705/35, 705/39, 705/40
• 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 20/102 Bill distribution or payments
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting

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 enables the allocation of a portion or all of a charge or loyalty points to different transaction accounts issued by different issuers, or to sub-accounts.

Claims

1. A method for authorizing an allocation of an amount associated with a transaction, the method comprising:

receiving, at a second financial account issuer server and from a first financial account issuer server via a communication channel, a request to debit a second portion of the amount from a second financial account having a second identifier, wherein the second financial account issuer server issued the second financial account, and wherein the second financial account issuer server is different from the first financial account issuer server;

receiving, at the second financial account issuer server and from the first financial account issuer server, a second authorization request for the debiting of the second portion of the amount;

transmitting, by the second financial account issuer server, a second authorization approval associated with the second portion of the amount to the first financial account issuer server;

verifying, by the second financial account issuer server, that sufficient funds exist to satisfy the request to debit the second portion of the amount from the second financial account;

debiting, by the second financial account issuer server, the second portion of the amount from the second financial account;

wherein the first financial account issuer server receives a first authorization request for debiting of the amount from a first financial account having a first identifier, determines the second portion to allocate to the second financial account based on an allocation rule, allocates the second authorization request associated with the second portion of the amount to the second financial account issuer server, receives the second authorization approval from the second financial account issuer server, and based upon authorization criteria issues a first authorization approval and the second authorization approval;

wherein the first financial account issuer server receives a request for the debiting of the amount from the first financial account, wherein the first financial account issuer server issued the first financial account; and

wherein the first financial account issuer server acquires the allocation rule associated with the first identifier, facilitates debiting, based upon the allocation rule, a first portion of the amount from the first financial account, and allocates, based upon the allocation rule, the second portion of the amount to the second financial account.

2. The method of claim 1, wherein the allocation rule is based upon at least one of:

the amount, consumer goals, demographic data, location information, loyalty point information, historical transactions, frequency of transactions, time period of the transaction, past behavior of a consumer, past behavior of a merchant, a payment system, consumer transaction fees, late fees, interest rates, merchant transaction fees, exchange rates, account fees, vendor information, company guidelines, biometric information, authorization levels, consumer information, merchant information, issuer information, payment processor information, record of charge, summary of charges, consumer confirmation, employer confirmation, lack of confirmation, type of account or financial instrument.

3. The method of claim 1, wherein at least one of the first financial account or the second financial account includes at least one of:

a transaction account, an escrow account, a digital cash account, a demand deposit account, a credit line, checking account, savings account, a gift card account, a pre-paid account, a credit union account, a bank account, an investment account, a money market account, a corporate account, personal account, a loyalty account, gift card account, procurement account, fuel account, shared account, a third party billing account, a revolving credit card account or a charge card account.

4. The method of claim 1, wherein the allocation rule is at least one of:

stored on a transaction device, stored on a personal digital assistant, acquired from an employer, acquired from a third party, generated at a point of sale, associated with the first financial account, stored in a merchant database, or stored in a payment processor database.

5. The method of claim 1, wherein the allocation rule is at least one of:

a pre-defined rule, a dynamic rule, entered via a webpage, or entered via a personal digital assistant.

6. The method of claim 1, wherein the allocation rule at least one of:

initiates a notification, or requests a confirmation.

7. The method of claim 1, wherein at least one of:

the amount, the first portion or the second portion are included on a billing statement associated with at least one of the first financial account or the second financial account.

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

9. The method of claim 1, wherein the first financial account and the second financial account are associated with the same consumer.

10. The method of claim 1, further comprising retaining, by the second financial account issuer server, a third portion of the amount as a transaction fee.

11. The method of claim 1, wherein the first financial account issuer server is associated with at least one of a transaction account issuer, charge card issuer, credit card issuer, debit card issuer, gift card issuer, bank, lender, credit union, or a third party issuer under contract with the financial account issuer.

12. The method of claim 1, further comprising notifying at least one of a first party associated with the first financial account or a second party associated with the second financial account, in response to receiving the request.

13. The method of claim 1, wherein at least one of the first identifier or the second identifier are associated with pre-authorization and conformance with account transaction limitations.

14. The method of claim 1, wherein at least one of the first identifier or the second identifier is associated with a pre-authorization record.

15. The method of claim 1, further comprising receiving a selection of the type of the second financial account, to facilitate the transaction.

16. 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.

17. The method of claim 1, wherein at least one of the first identifier or the second identifier includes restrictions.

18. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers.

19. The method of claim 1, wherein at least one of the first identifier or the second identifier is selected from a pool of limited use account identifiers that correspond to a master account, prior to a purchase by the client.

20. A method for authorizing an allocation of an amount associated with a transaction, the method comprising:

receiving, at a second financial account issuer server and from a first financial account issuer server via a communication channel, a request to debit a second portion of the amount from a second financial account having a second identifier, wherein the second financial account issuer server issued the second financial account, and wherein the second financial account issuer server is different from the first financial account issuer server;

receiving, at the second financial account issuer server and from a merchant server, a second authorization request for the debiting of the second portion of the amount based on an allocation rule, wherein the transaction originates at the merchant server via the first financial account issuer server;

transmitting, by the second financial account issuer server, a second authorization approval associated with the second portion of the amount to the merchant server;

verifying, by the second financial account issuer server, that sufficient funds exist to satisfy the request to debit the second portion of the amount from the second financial account;

debiting, by the second financial account issuer server, the second portion of the amount from the second financial account;

wherein the first financial account issuer server receives a first authorization request for debiting of the amount from a first financial account having a first identifier;

wherein the first financial account issuer server receives a request for the debiting of the amount from the first financial account, wherein the first financial account issuer server issued the first financial account; and

wherein the first financial account issuer server acquires the allocation rule associated with the first identifier, facilitates debiting, based upon the allocation rule, a first portion of the amount from the first financial account, and allocates, based upon the allocation rule, the second portion of the amount to the second financial account.