Method for using different billing cycles for point of sale transactions

• US 8,682,790 B1
• Filed: 02/27/2013
• Issued: 03/25/2014
• Est. Priority Date: 06/19/2003
• Status: Active Grant

• Current Assignee: Ronald John Rosenberger
• Original Assignee: Ronald John Rosenberger
• Inventors: Rosenberger, Ronald John
• Primary Examiner(s): Zeender, Ryan
• Assistant Examiner(s): Chein, Allen
• Application Number:
  US13/779,646
• Time in Patent Office: 391 Days
• Field of Search: 705/40
• US Class Current: 705/40
• 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 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

The present invention provides for flexibility regarding the posting of point of sale transactions to particular billing cycles within an account. Embodiments comprise posting a point of sale transaction to a first billing cycle and then transferring the point of sale transaction to a second billing cycle, whereas a variation first selects a billing cycle and then posts the point of sale transaction to the selected billing cycle.

Claims

1. A method for electronically transferring at least one point of sale (POS) transaction from a first billing cycle to at least one second billing cycle in an account, said method comprising:

a. electronically providing by a computer said account, wherein said account is used by an end user to purchase goods and services from merchants, thereby providing said at least one POS transaction, and wherein said account comprises said at least one credit balance, said first billing cycle, said at least one second billing cycle, and said at least one POS transaction;

b. electronically posting by a computer said at least one POS transaction to said first billing cycle; and

,

c. properly electronically transferring by a computer said at least one POS transaction from said first billing cycle to said at least one second billing cycle, wherein said at least one POS transaction is electronically posted to said at least one second billing cycle;

wherein said POS transaction would ordinarily and properly electronically post to said first billing cycle;

wherein said at least one second billing cycle occurs after said first billing cycle; and

wherein electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle changes when payment of said at least one POS transaction is due to the provider of said account to a later date.

2. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is determined by an end user.

3. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle occurs at-will.

4. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is determined using at least one date parameter.

5. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is triggered using at least one parameter selected from the group consisting of:

at least one amount threshold parameter and at least one billing cycle balance consumption parameter.

6. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle comprises posting entire amounts of said at least one POS transaction.

7. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle occurs when said first billing cycle is an active billing cycle.

8. A method according to claim 1, wherein said at least one credit balance comprises at least one revolving credit balance.

9. A method according to claim 1, further comprising wherein said at least one POS transaction electronically transferred from said first billing cycle to said at least one second billing cycle is again electronically transferred back to said first billing cycle, or is electronically transferred to at least one different second billing cycle.

10. A method according to claim 1, further comprising wherein an entire single POS transaction, or portions of said single POS transaction, is transferred from said first billing cycle at-will, resulting wherein said single POS transaction is posted to at least two billing cycles.

11. A method according to claim 1, further comprising wherein any billing cycle comprises at least one selected from the group consisting of:

1) its own credit limit, and

     2) its own credit balance.

12. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is determined by a provider of said account.

13. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle occurs when said first billing cycle is a closed billing cycle.

14. A method according to claim 1, wherein said account is for at least one individual, wherein said at least one individual is not a business entity.

15. A method according to claim 1, further comprising wherein said account is a business account for a business entity intended for paying business-related expenses.

16. A method according to claim 1, further comprising wherein said account is a closed-loop account.

17. A method according to claim 1, further comprising wherein said account is a tax-advantaged account.

18. A method according to claim 1, further comprising wherein said account is a tax-deferred account.

19. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is triggered using at least one merchant parameter.

20. A method according to claim 1, further comprising wherein an entire single POS transaction, or portions of said single POS transaction, is transferred from said first billing cycle through use of a portion parameter, resulting wherein said single POS transaction is posted to at least two billing cycles.

21. A method according to claim 1, wherein said at least one credit balance comprises at least one selected from the group consisting of:

at least one charge credit balance, at least one line of credit, and at least one home equity line of credit.

22. A method according to claim 1, wherein the step of electronically transferring said at least one POS transaction from said first billing cycle to said at least one second billing cycle is determined by a provider of said account thorough use of at least one parameter.

23. A method for electronically selecting at least one second billing cycle in an account for posting at least one point of sale (POS) transaction, said method comprising:

a. electronically providing by a computer said account, wherein said account is used by an end user to purchase goods and services from merchants, thereby providing said at least one POS transaction, and wherein said account comprises said at least one credit balance, a first billing cycle, said at least one second billing cycle, and said at least one POS transaction;

b. properly electronically selecting by a computer said at least one second billing cycle for posting said at least one POS transaction; and

c. electronically posting by a computer said at least one POS transaction to said at least one second billing cycle;

wherein said POS transaction would ordinarily and properly electronically post to said first billing cycle;

wherein said at least one second billing cycle occurs after said first billing cycle; and

wherein electronically selecting said at least one second billing cycle for posting said at least one POS transaction changes when payment of said at least one POS transaction is due to the account provider to a later date.

24. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is determined by an end user.

25. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction occurs at-will.

26. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is determined using at least one date parameter.

27. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is triggered using at least one parameter selected from the group consisting of:

at least one amount threshold parameter and at least one billing cycle balance consumption parameter.

28. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction comprises posting entire amounts of said at least one POS transaction.

29. A method according to claim 23, wherein said at least one credit balance comprises at least one revolving credit balance.

30. A method according to claim 23, further comprising wherein either said first billing cycle or said at least one second billing cycle is a default billing cycle for posting said at least one POS transaction when an electronic selection has not been made for said at least one POS transaction, wherein said default billing cycle is selected by at least one selected from the group consisting of:

an end user and a provider of said account.

31. A method according to claim 23, further comprising wherein said at least one POS transaction electronically posted to said at least one second billing cycle is electronically transferred from said at least one second billing cycle to at least one different billing cycle, wherein said at least one second billing cycle is an active billing cycle or a closed billing cycle.

32. A method according to claim 23, further comprising wherein portions of a single POS transaction are electronically posted to at least two billing cycles as selected at-will.

33. A method according to claim 23, further comprising wherein any billing cycle comprises at least one selected from the group consisting of:

1) its own credit limit, and

     2) its own credit balance.

34. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is determined by a provider of said account.

35. A method according to claim 23, wherein said account is for at least one individual, wherein said at least one individual is not a business entity.

36. A method according to claim 23, further comprising wherein said account is a business account for a business entity intended for paying business-related expenses.

37. A method according to claim 23, further comprising wherein said account is a closed-loop account.

38. A method according to claim 23, further comprising wherein said account is a tax-advantaged account.

39. A method according to claim 23, further comprising wherein said account is a tax-deferred account.

40. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is triggered using at least one merchant parameter.

41. A method according to claim 23, further comprising wherein portions of a single POS transaction are electronically posted to at least two billing cycles through use of a portion parameter.

42. A method according to claim 23, wherein said at least one credit balance comprises at least one selected from the group consisting of:

at least one charge credit balance, at least one line of credit, and at least one home equity line of credit.

43. A method according to claim 23, wherein the step of electronically selecting said at least one second billing cycle for posting said at least one POS transaction is determined by a provider of said account through use of at least one parameter.