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

• US 8,275,704 B2
• Filed: 01/16/2009
• Issued: 09/25/2012
• Est. Priority Date: 11/05/1999
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Lead Core Fund LLC (Intellectual Ventures LLC)
• Inventors: Thomas, Tracey R., Sharma, Bansi L., Bishop, Fred A.
• Primary Examiner(s): Patel, Jagdish
• Application Number:
  US12/355,498
• Publication Number:
  US 20090150288A1
• Time in Patent Office: 1,348 Days
• Field of Search: 705/39, 705/38, 705/26.1
• 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 20/40 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

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 comprising:

receiving, at a first financial account issuer server for allocating an amount associated with a transaction, a first authorization request to debit the amount from a first financial account having a first identifier, wherein an entity associated with the first financial account issuer server issued the first financial account, and wherein the first authorization request includes the amount and the first identifier;

determining, by the first financial account issuer server, availability of the amount in the first financial account;

acquiring, by the first financial account server, an allocation rule associated with the first identifier, wherein the allocation rule is stored in association with the first identifier, and wherein the allocation rule includes first information to determine a first portion of the amount to be debited from the first financial account, second information to determine a second portion of the amount to be debited from a second financial account, and a second identifier associated with the second financial account;

allocating, by the first financial account server and based upon the allocation rule, the second portion of the amount to the second financial account, wherein an entity associated with a second financial account issuer server issued the second financial account, wherein the second financial account issuer server is different from the first financial account issuer server;

sending, by the first financial account server and to the second financial account issuer server, a second authorization request associated with the second portion of the amount;

receiving, by the first financial account server and from the second financial account issuer server, a second authorization approval associated with the second portion of the amount;

issuing, by the first financial account server, a first authorization approval; and

debiting, by the first financial account issuer server and based upon the allocation rule, the first portion of the amount from the first financial account, wherein the second authorization approval indicates that the second financial account issuer server debits the second portion of the amount from the second financial account.

2. The method of claim 1, wherein the allocation rule is based upon attributes, wherein the attributes are acquired by the first financial account issuer server from a database, and wherein the attributes include 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 consumer, past behavior of merchant, 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 the first financial account server accesses at least one of the first financial account or the second financial account, and 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 first financial account issuer server acquires the allocation rule via a communication link, and 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 first financial account issuer server acquires the allocation rule via a communication link, and 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 in response to the debiting based upon the allocation rule, the allocation rule at least one of:

initiates a notification, or requests a confirmation.

7. The method of claim 1, further comprising generating a billing statement, wherein at least one of:

the amount, the first portion or the second portion are included on the billing statement, wherein the billing statement is 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 first authorization request.

13. The method of claim 1, wherein at least one of the first identifier or the second identifier is 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, by the first financial account issuer server and in the first authorization request, a selection of the type of at least one of the first financial account or 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, wherein the restrictions limit the allocating of the second portion of the amount.

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 the entity associated with the first financial account issuer server and the entity associated with the second financial account issuer server are the same entity.

20. A method comprising:

receiving, at a first financial account issuer server for allocating an amount associated with a transaction, a first authorization request to debit the amount from a first financial account having a first identifier, wherein an entity associated with the first financial account issuer server issued the first financial account, and wherein the first authorization request includes the amount and the first identifier;

determining, by the first financial account issuer server, availability of the amount in the first financial account;

acquiring, by the first financial account issuer server, an allocation rule associated with the first identifier, wherein the allocation rule is stored in association with the first identifier, and wherein the allocation rule includes first information to determine a first portion of the amount to be debited from the first financial account, second information to determine a second portion of the amount to be debited from a second financial account, and a second identifier associated with the second financial account;

allocating, by the first financial account issuer server and based upon the allocation rule, the second portion of the amount to the second financial account, wherein an entity associated with a second financial account issuer server issued the second financial account, wherein the second financial account issuer server is different from the first financial account issue server;

sending, by the first financial account issuer server and to the second financial account issuer server, a second authorization request associated with the second portion of the amount, wherein the second financial account issuer server sends to a merchant a second authorization approval associated with the second portion of the amount;

issuing, by the first financial account issuer server, a first authorization approval to the merchant; and

debiting, by the first financial account issuer server and based upon the allocation rule, the first portion of the amount from the first financial account, wherein the second authorization approval indicates that the second financial account issuer server debits the second portion of the amount from the second financial account.

21. A first financial account issuer Server comprising:

a first financial account issuer server processor usable to execute instructions for allocating an amount associated with a transaction,

a tangible, non-transitory memory configured to communicate with the server processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the server processor, cause the server processor to perform operations comprising;

receiving, at the first financial account issuer server processor, a first authorization request to debit the amount from a first financial account having a first identifier, wherein an entity associated with the first financial account issuer server issued the first financial account, and wherein the first authorization request includes the amount and the first identifier;

determining, by the first financial account issuer server processor, availability of the amount in the first financial account;

acquiring, by the first financial account issuer server processor, an allocation rule associated with the first identifier, wherein the allocation rule is stored in association with the first identifier, and wherein the allocation rule includes first information to determine a first portion of the amount to be debited from the first financial account, second information to determine a second portion of the amount to be debited from a second financial account, and a second identifier associated with the second financial account;

allocating, by the first financial account issuer server processor and based upon the allocation rule, the second portion of the amount to the second financial account, wherein an entity associated with a second financial account issuer server issued the second financial account, wherein the second financial account issuer server is different from the first financial account issuer server;

sending, by the first financial account issuer server processor and to the second financial account issuer server, a second authorization request associated with the second portion of the amount;

receiving, by the first financial account issuer server processor and from the second financial account issuer server, a second authorization approval associated with the second portion of the amount;

issuing, by the first financial account issuer server processor, a first authorization approval; and

debiting, by the first financial account issuer server processor and based upon the allocation rule, the first portion of the amount from the first financial account, wherein the second authorization approval indicates that the second financial account issuer server debits the second portion of the amount from the second financial account.