Method and system to accept and settle transaction payments for an unbanked consumer

• US 8,321,342 B2
• Filed: 08/23/2007
• Issued: 11/27/2012
• Est. Priority Date: 08/28/2006
• Status: Active Grant

• Current Assignee: ChoicePay, Inc. (ACI Worldwide Incorporated), Pay Cash Now LLC
• Original Assignee: ChoicePay, Inc. (ACI Worldwide Incorporated)
• Inventors: Marshall, Roger
• Primary Examiner(s): MONFELDT, SARAH M
• Application Number:
  US11/843,976
• Publication Number:
  US 20080052182A1
• Time in Patent Office: 1,923 Days
• Field of Search: 705/40, 705/35
• US Class Current: 705/40
• 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 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]

Abstract

A system and method is provided to accept and settle transaction payments for an unbanked consumer. A consumer initiates a transaction with a merchant, and the merchant may transmit transaction information to a central processing unit using an initiating processing unit. The central processing unit may generate a unique transaction identifier or the merchant may generate the unique transaction identifier which complies with the systems rules and notifies the central processing unit of the transaction information and unique transaction identifier. The system may provide the merchant and consumer the nearest payment processing unit. At the payment processing unit, the consumer presents the unique transaction identifier, which is transmitted to the central processing unit for validation. The consumer may also validate the transaction information. The consumer makes payment at the payment processing unit, and the payment information is transmitted to the central processing unit. The system may generate a confirmation receipt for the consumer, and the central processing unit notifies the merchant of payment by the consumer. The merchant may then fulfill the transaction. The system remits the payment to the merchant.

Claims

1. A computerized method to accept and settle cash transaction payments from an unbanked consumer having no banking account and/or credit card, said computerized method comprising the steps of:

a. initiating a non-store retailing, cash transaction between said unbanked consumer and a merchant; and

wherein said consumer is remote from said merchant;

b. electronically communicating transaction information from said merchant to a central processing unit having a memory and a processor and being hosted and/or maintained by an intermediate, third-party service provider, and wherein said central processing unit is remote from said merchant and from said consumer;

c. subsequent to steps a and b, automatically generating a unique transaction identifier by said central processing unit for said non-store retailing, cash transaction;

d. electronically storing said transaction information and said unique transaction identifier at said central processing unit;

e. communicating said unique transaction identifier from said central processing unit to said merchant;

f. subsequent to step e, receiving said unique transaction identifier from said consumer at a payment processing unit, wherein said payment processing unit is remote from said merchant and from said central processing unit, wherein said payment processing unit is maintained by said service provider, wherein said payment processing unit consists of a customized, unmanned kiosk having a single button display screen for accessing at least said transaction information, and wherein said kiosk is constructed to accept cash payments from said consumer;

g. electronically communicating said unique transaction identifier from said payment processing unit to said central processing unit;

h. electronically validating said unique transaction identifier using said central processing unit;

i. receiving a cash payment from said consumer for said non-store retailing, cash transaction at said payment processing unit; and

j. subsequent to step i, remitting a non-cash equivalent of said cash payment from said service provider to said merchant.

2. The method of claim 1 wherein said non-store retailing, cash transaction includes an on-line purchase transaction, a telephone purchase transaction, a one-time bill, a reoccurring bill, a mail order purchase transaction or a catalog purchase transaction.

3. The method of claim 1 wherein said step of communicating said unique transaction identifier to said merchant further comprises the steps of communicating locations of said payment processing unit from said central processing unit to said merchant, and subsequently communicating said unique transaction identifier and locations of said payment processing unit from said merchant to said consumer.

4. The method of claim 1 wherein said step of electronically validating said unique transaction identifier further comprises displaying said transaction information to said consumer at said customized kiosk having said single button display screen.

5. The method of claim 4 further comprising the step of validating said transaction information by said consumer at said payment processing unit.

6. The method of claim 1 further comprising the step of printing said unique transaction identifier on said merchant'"'"'s invoice.

7. The method of claim 1 further comprising subsequent to step i, generating a unique confirmation number by said central processing unit and transmitting said unique confirmation number from said central processing unit to said payment processing unit.

8. The method of claim 7 further comprising the step of generating a confirmation receipt for said consumer at said payment processing unit.

9. The method of claim 8 further comprising the step of printing said confirmation receipt for said consumer using said payment processing unit.

10. The method of claim 1 further comprising subsequent to step i, electronically notifying said merchant of said cash payment by said consumer using said central processing unit.

11. The method of claim 1 further comprising the step of fulfilling said transaction by said merchant.

12. The method of claim 1 wherein said step of remitting said payment to said merchant is in real-time, near real-time or by batch processing.

13. The method of claim 1 wherein said transaction information comprises purchase information, said consumer'"'"'s name and a shipping address.

14. The method of claim 11 further comprising subsequent to step j, fulfilling said transaction by said merchant.

15. The method of claim 11 further comprising prior to step j, fulfilling said transaction by said merchant.

16. The method of claim 1 further comprising prior to step f, suspending said cash transaction until subsequent to step i.

17. The method of claim 1 further comprising prior to subsequent to step i, notifying said merchant of said cash payment by said consumer at said payment processing unit using said central processing unit.