Online incremental payment method

• US 8,315,929 B2
• Filed: 01/17/2007
• Issued: 11/20/2012
• Est. Priority Date: 11/15/2001
• Status: Expired due to Term

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Allen-Rouman, Terry, Mascavage, John Joseph III, Weichert, Margaret Morgan, Dravenstott, Robert Edwin
• Primary Examiner(s): FELTEN, DANIEL S
• Application Number:
  US11/624,183
• Publication Number:
  US 20070118472A1
• Time in Patent Office: 2,134 Days
• Field of Search: 705/35, 705/39, 705/44
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping 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
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

According to the invention, a process for transferring funds between a payor and a payee in an online transaction is disclosed. In one step, information is received from the payor for debiting a bank account associated with the payor. Authorization is transmitted to the payee to request debits from the payor. The total of all debit requests does not exceed an amount that is authorized. A first request is received from the payee to debit the customer a first portion of the amount. A first debit is initiated from the bank account for the first portion of the amount. A second request is received from the payee to debit the payor a second portion of the amount. A second debit is initiated from the bank account for the second portion of the amount.

Claims

1. A system for transferring funds between a payor and a payee, the system comprising:

a host computer system; and

a computer readable storage medium having encoded thereon at least one computer-readable program including one or more computer-executable instructions executed on the host computer system, wherein the instructions cause the host computer to;

receive information from the payor identifying a first plurality of payment sources configured by the payor as possible source accounts;

receive information from the payee identifying acceptable types of source accounts;

cull the first plurality of payment sources based at least in part on the acceptable types of source accounts;

transmit the culled first plurality of payment sources to the payor for selection by the payor of a source account;

receive information from the payor for debiting the source account, wherein the information comprises payor personal information including information regarding the source account and information regarding online transaction data including a total amount of the online transaction, and wherein the payor personal information is not exposed to the payee;

transmit to the payee an authorization to request debits from the payor, wherein a total of all debit requests does not exceed the total amount for the online transaction;

receive a first request from the payee to debit the payor a first portion of the total amount for the online transaction;

in response to the first request from the payee, initiate a first debit from the source account to a bank account associated with the payee for the first portion of the amount;

receive a second request from the payee to debit the payor a second portion of the total amount for the online transaction; and

in response to the second request from the payee, initiate a second debit from the source account to the bank account associated with the payee for the second portion of the amount.

2. A system as in claim 1, wherein the payee comprises a merchant, and further comprising a merchant computer system that is configured to receive the authorization to request debits from the payor.

3. A system as in claim 1, wherein the computer-readable program further includes instructions to check that a sum of the first debit and the second debit does not exceed the total amount before performing the second-listed initiating step.

4. A system as in claim 1, wherein the computer-readable program further includes instructions to:

receive information from the payee for crediting the bank account associated with the payee, wherein said information comprises payee personal information including information regarding a payee account;

initiate a first credit to a payee account that corresponds to the first portion of the amount; and

initiate a second credit to a payee account that corresponds to the second portion of the amount.

5. A system as in claim 1, wherein the computer-readable program further includes instructions to receive information from the payee for crediting a payee account.

6. A system for transferring funds between a first party and a second party, the system comprising:

a host computer system; and

a computer readable storage medium having encoded thereon at least one computer-readable program including one or more computer-executable instructions executed on the host computer system, wherein the computer-executable instructions cause the host computer to;

receive purchase information from the second party that includes a total amount;

receive purchaser information from the first party that includes the total amount;

validate the purchaser information by comparing it at least in part to the received purchase information;

send, to the second party, a digital IOU;

receive, from the second party, the digital IOU;

validate the digital IOU;

receive a plurality of requests from the second party to debit a bank account associated with the first party; and

in response to the plurality of requests from the second party, initiate a plurality of debits from the bank account.

7. A system as in claim 6, wherein the computer-readable program further includes instructions to check that a sum of the plurality of debits does not exceed the total amount before performing the initiating step.

8. A system as in claim 6, wherein the computer-readable program further includes instructions to:

receive information from the second party for crediting a second account of the second party, wherein said information comprises personal information associated with the second party including information regarding said second account; and

initiate a plurality of credits to the second account of the second party, wherein the plurality of credits correspond to the plurality of debits.

9. A system as in claim 8, wherein each of the plurality of credits is less than its corresponding debit by a fee.

10. A system as in claim 6, wherein the computer-readable program further includes instructions to receive information from the second party for crediting a second account of the second party.

11. A system for transferring funds between a first party and a second party, the system comprising:

a host computer system; and

a computer readable storage medium having encoded thereon at least one computer-readable program including one or more computer-executable instructions executed on the host computer system, wherein the computer-executable instructions cause the host computer to;

receive information from the first party identifying a first plurality of payment sources configured by the first party as possible source accounts;

receive information from the second party identifying acceptable types of source accounts;

culling the first plurality of payment sources based at least in part on the acceptable types of source accounts; and

transmitting the culled first plurality of payment sources to the first party for selection by the first party of a source account;

receive information from the first party for debiting the source account, wherein the information comprises personal information including information regarding the source account and information regarding online transaction data including a total amount of the online transaction, and wherein the personal information is not exposed to the second party;

transmit to the second party an authorization to request debits from the source account, wherein a total of all debit requests does not exceed the total amount;

receive a plurality of requests from the second party to debit the source account; and

in response to the plurality of requests from the second party, initiate a plurality of debits from the source account.

12. A system as in claim 11, wherein the first party is remote from the second party.

13. A system as in claim 11, wherein the plurality of debits from the source account are transmitted directly from the source account to a destination account associated with the second party, with no more than one interim party.

14. A system as in claim 11, wherein:

the computer-executable instructions further cause the host computer to receive purchase information from a first web page, the first web page provided by the second party; and

the information from the first party for debiting the source account is received from a second web page, the second web page provided by the host computer system.

15. A system as in claim 11, wherein the computer-executable instructions further cause the host computer to transmit to the first party a validation request, wherein the validation request comprises a graphical representation of a negotiable check, the check including at least a portion of the online transaction data including payee, date, and amount.

16. A system as in claim 15, wherein the first party enters a password into a signature line of the graphical representation of the negotiable check to validate the debiting of the source account.

17. A system as in claim 11, wherein the host system guarantees payment for the online transaction such that the second party will not be chargedbacked.

18. A system as in claim 17, wherein guaranteeing payment comprises conducting a risk assessment of the first party, and the risk assessment comprises analyzing past usage of the host computer by the first party.