CA2295615A1 - Automated payment system and method - Google Patents
Automated payment system and method Download PDFInfo
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- CA2295615A1 CA2295615A1 CA002295615A CA2295615A CA2295615A1 CA 2295615 A1 CA2295615 A1 CA 2295615A1 CA 002295615 A CA002295615 A CA 002295615A CA 2295615 A CA2295615 A CA 2295615A CA 2295615 A1 CA2295615 A1 CA 2295615A1
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- Prior art keywords
- accepting
- payment
- merchant
- customer identifier
- forwarding
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Classifications
-
- G—PHYSICS
- G07—CHECKING-DEVICES
- G07F—COIN-FREED OR LIKE APPARATUS
- G07F7/00—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
- G07F7/08—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means
- G07F7/0866—Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus by coded identity card or credit card or other personal identification means by active credit-cards adapted therefor
-
- G—PHYSICS
- G06—COMPUTING OR CALCULATING; COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/04—Payment circuits
-
- G—PHYSICS
- G06—COMPUTING OR CALCULATING; COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
-
- G—PHYSICS
- G06—COMPUTING OR CALCULATING; COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/08—Payment architectures
- G06Q20/12—Payment architectures specially adapted for electronic shopping systems
-
- G—PHYSICS
- G06—COMPUTING OR CALCULATING; COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q20/00—Payment architectures, schemes or protocols
- G06Q20/30—Payment architectures, schemes or protocols characterised by the use of specific devices or networks
- G06Q20/36—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes
- G06Q20/363—Payment architectures, schemes or protocols characterised by the use of specific devices or networks using electronic wallets or electronic money safes with the personal data of a user
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- Business, Economics & Management (AREA)
- Accounting & Taxation (AREA)
- Engineering & Computer Science (AREA)
- Physics & Mathematics (AREA)
- General Physics & Mathematics (AREA)
- Finance (AREA)
- Strategic Management (AREA)
- General Business, Economics & Management (AREA)
- Theoretical Computer Science (AREA)
- Economics (AREA)
- Development Economics (AREA)
- Computer Networks & Wireless Communication (AREA)
- Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
- Cash Registers Or Receiving Machines (AREA)
- Control Of Vending Devices And Auxiliary Devices For Vending Devices (AREA)
Abstract
Systems and methods for automated payment involve utilizing consumer payment authorization, clearing, and settlement systems to allow a merchant to reduce or eliminate an amount owed to another entity for services, products, and/or cash advances provided to the merchant.
After a customer identifier (e.g., a credit, debit, smart, charge, payment, etc. card account number) is accepted as payment from the customer, information related to the payment is forwarded to a merchant processor. The merchant processor acquires the information related to the payment, processes that information, and forwards at least a portion of the payment to a receiver as payment for at least a portion of the amount owed by the merchant. The receiver receives the portion of the payment forwarded by the merchant processor and applies that portion to the amount owed by the merchant to reduce or eliminate that outstanding amount.
After a customer identifier (e.g., a credit, debit, smart, charge, payment, etc. card account number) is accepted as payment from the customer, information related to the payment is forwarded to a merchant processor. The merchant processor acquires the information related to the payment, processes that information, and forwards at least a portion of the payment to a receiver as payment for at least a portion of the amount owed by the merchant. The receiver receives the portion of the payment forwarded by the merchant processor and applies that portion to the amount owed by the merchant to reduce or eliminate that outstanding amount.
Description
AUTOMATED PAYMENT SYSTEM AND METHOD
Cross-Reference to Related Application This is a continuation-in-part of pending U.S. patent application serial no.
08/890,398 which was filed on July 9, I997.
Technical Field This invention relates to systems and processes for automated payment for a service or product including repayment of a cash advance provided to a merchant via fees levied through an entity that processes customer payment transactions for the merchant.
Background Information Card (e.g., credit, debit, charge, smart, etc.) transactions generally involve at least merchants, merchant processors, issuers, and cardholders. Such transactions include authorization, clearing, and settlement processes, and may include the use of a system such as the VisaNet or Cirrus system to authorize, clear, and settle the card payment.
Repayment of cash advances including loans generally is performed by the payor sending periodic payments directly to another entity by post or by electronic funds transfer through the banking system. Fees for products and services generally are paid directly by an entity receiving the product and/or service to the provider of the product and/or service.
Summary of the Invention It is an object of the invention to provide for automated payment by a business entity based on fees levied on customer payment transactions between the business entity and its customers. The payment can be for a product, service, and/or cash advance provided to the business entity (e.g., a merchant such as a restaurant) by an organization that supplies various businesses with products, services, and/or cash advances. The organization can, for example, provide discounted business tools and resources such as payroll services, discounted offtce equipment and supplies, travel discounts, various employee benefit programs such as discount dental services, various professional services such as legal services, and marketing services. The business entity pays for the services, products, and/or cash advances supplied by the organization via a fee levied on card payments made by the business entity's customers.
These card transactions involve unique identifying account numbers (e.g., credit, debit, charge, payment, smart, etc. card numbers) provided to the entity by its customers. It also is an object of the invention for the organization to advance money to the business entity for the purpose of allowing the business to buy the goods and/or services that are offered or supplied by the organization (or S any other goods and/or services), and then the business entity repays the advance via a fee levied on card payments made by the business entity's customers.
As an example of this aspect of the invention, the organization makes available to small businesses and similar merchants various products and/or services, including cash advances, for a fee, and the fee is paid to the organization based on customer payment transactions between the merchant and its customers. The organization could also advance money to the merchant for the purpose of, for example, allowing the merchant to buy the various products and/or services from the organization (or products and/or services offered by any other entity), and the advance is repaid by the merchant based on the merchant's customer payment transactions.
The merchant can be, for example, a personal service beauty salon or a restaurant, and the providing organization can provide to the merchant certain tools and resources such as discounted advertising rates through a large advertiser. Whether or not the merchant takes advantage of the discounted advertising or any of the other products and/or services offered by the organization, the merchant, once signed up with the organization, owes the organization a fee for being provided with access to the array of products and/or services offered by the organization. This fee, and any other feels) connected with the merchant getting access to or actually using the offered products and/or services, is paid by the merchant to the organization (or to a representative of the organization or, generally, to a "fee receiver") via a fee levied on card payment transactions between the merchant and its customers. For example, the transaction may involve the purchase of a haircut from the beauty salon by a customer using a credit card as the means of payment to the salon for the haircut. During processing of the card transaction by a merchant processor, a portion of the purchase price of the haircut is diverted to the organization as (partial) payment for the fee owed to the organization by the salon. In the same manner, the salon can make payments on any outstanding cash advance, whether the advance originated form the organization or a third party.
It is a further object of the invention to provide an automated cash advance (e.g., loan) repayment system and process based on fees levied on payment transactions such as those IZI:\.1(>.'~.:ta'~. 111_\lilL;\ tie; . _>- (-;_fiti ; '7'?: I~ : CCI-I"I' L?i:\1~ +-t-.~ t3J "'ia:i-i--;-ti5.it ;-i -- -- -- -- ---- CA 02295615 2000-O1-07 - _ -Attorney's locket No.: JHN-OOi CPC
Cross-Reference to Related Application This is a continuation-in-part of pending U.S. patent application serial no.
08/890,398 which was filed on July 9, I997.
Technical Field This invention relates to systems and processes for automated payment for a service or product including repayment of a cash advance provided to a merchant via fees levied through an entity that processes customer payment transactions for the merchant.
Background Information Card (e.g., credit, debit, charge, smart, etc.) transactions generally involve at least merchants, merchant processors, issuers, and cardholders. Such transactions include authorization, clearing, and settlement processes, and may include the use of a system such as the VisaNet or Cirrus system to authorize, clear, and settle the card payment.
Repayment of cash advances including loans generally is performed by the payor sending periodic payments directly to another entity by post or by electronic funds transfer through the banking system. Fees for products and services generally are paid directly by an entity receiving the product and/or service to the provider of the product and/or service.
Summary of the Invention It is an object of the invention to provide for automated payment by a business entity based on fees levied on customer payment transactions between the business entity and its customers. The payment can be for a product, service, and/or cash advance provided to the business entity (e.g., a merchant such as a restaurant) by an organization that supplies various businesses with products, services, and/or cash advances. The organization can, for example, provide discounted business tools and resources such as payroll services, discounted offtce equipment and supplies, travel discounts, various employee benefit programs such as discount dental services, various professional services such as legal services, and marketing services. The business entity pays for the services, products, and/or cash advances supplied by the organization via a fee levied on card payments made by the business entity's customers.
These card transactions involve unique identifying account numbers (e.g., credit, debit, charge, payment, smart, etc. card numbers) provided to the entity by its customers. It also is an object of the invention for the organization to advance money to the business entity for the purpose of allowing the business to buy the goods and/or services that are offered or supplied by the organization (or S any other goods and/or services), and then the business entity repays the advance via a fee levied on card payments made by the business entity's customers.
As an example of this aspect of the invention, the organization makes available to small businesses and similar merchants various products and/or services, including cash advances, for a fee, and the fee is paid to the organization based on customer payment transactions between the merchant and its customers. The organization could also advance money to the merchant for the purpose of, for example, allowing the merchant to buy the various products and/or services from the organization (or products and/or services offered by any other entity), and the advance is repaid by the merchant based on the merchant's customer payment transactions.
The merchant can be, for example, a personal service beauty salon or a restaurant, and the providing organization can provide to the merchant certain tools and resources such as discounted advertising rates through a large advertiser. Whether or not the merchant takes advantage of the discounted advertising or any of the other products and/or services offered by the organization, the merchant, once signed up with the organization, owes the organization a fee for being provided with access to the array of products and/or services offered by the organization. This fee, and any other feels) connected with the merchant getting access to or actually using the offered products and/or services, is paid by the merchant to the organization (or to a representative of the organization or, generally, to a "fee receiver") via a fee levied on card payment transactions between the merchant and its customers. For example, the transaction may involve the purchase of a haircut from the beauty salon by a customer using a credit card as the means of payment to the salon for the haircut. During processing of the card transaction by a merchant processor, a portion of the purchase price of the haircut is diverted to the organization as (partial) payment for the fee owed to the organization by the salon. In the same manner, the salon can make payments on any outstanding cash advance, whether the advance originated form the organization or a third party.
It is a further object of the invention to provide an automated cash advance (e.g., loan) repayment system and process based on fees levied on payment transactions such as those IZI:\.1(>.'~.:ta'~. 111_\lilL;\ tie; . _>- (-;_fiti ; '7'?: I~ : CCI-I"I' L?i:\1~ +-t-.~ t3J "'ia:i-i--;-ti5.it ;-i -- -- -- -- ---- CA 02295615 2000-O1-07 - _ -Attorney's locket No.: JHN-OOi CPC
involving unique identifying account numbers {e.g., credit, debit, charge, payment, smart, ere.
card numbers).
In accordance with the invention, a merchant processor is utilized whether the payment is to cover all or a portion of a fee due for a product andlor service or to cover all or a portion of an S outstanding cash advance amount. The merchant processor tray be, for example, a third panty .
entity (i.e., an entity other than the merchant or the organization). As an example, with some credit cards, the merchant processor can be a third party. As another example, with some cards such as the American Express charge card, the merchant processor can be the same as (or at least closely affiliated with) the card issuer. In general, a "merchant procc~sor"
is any entity that 1Q acquires merchant transactions such as a bank or other financial institution, or that is dedicated to acquiring and processing merchant transactions. Acquitvng merchant transactions generally means receiving payment information from a merchant or on behalf of a merchant, obtaining authorization for the payment from the card issuer, sending that authorization. to the merchant, and then completing the transaction by paying the merchant, submitting the payment, and getting 15 paid by the issuer. For tras sen~ice, the merchant processor typically levies a fee on the merchant that is a percentage of the a'-nount of the payment transaction. In general, the payment irAfcrmation fonvarde~3 to the merchant processor relates to a customer identifier submitted to the merchant as payment for some goods) and/or service(s), and that identifier can be the account number Lzsscciated with, for example, a debit card, a smart card, a credit card (e.g., a 'Visa or 20 Mast~rCard card}, a charge card (e.g., an American Express card), etc.
The invention rhss relates to systems and processes for automated payment for a service, product, andlor cash advance provided to a merchant by the organization. The systems and processes of the invention utilize consumer payment transactions with the merchant to allow the merchant to pay off the service, product, andlor cash advance provided by the organization.
25 Typically, a percentage of G consumer's payment io the merchant (e.g., by credit card) is used to pay what the merchant owes to the orgattizat!on. In one embodiment of the present invention, a merchant, that h~ received a cash advance from the organization and/ar that has been provided with certain services andlor products by the organization, accepts a customer-identifying account number {e.g., a credit, charge, payment, or debit card number} as payment from the customer and 3Q , information related to the payment is forwarded to a merchant processor.
Acceptance of this type of payment from the customer can be done, for example, at a merchant location (e.g., a retail t~OED SH'~E't A~
card numbers).
In accordance with the invention, a merchant processor is utilized whether the payment is to cover all or a portion of a fee due for a product andlor service or to cover all or a portion of an S outstanding cash advance amount. The merchant processor tray be, for example, a third panty .
entity (i.e., an entity other than the merchant or the organization). As an example, with some credit cards, the merchant processor can be a third party. As another example, with some cards such as the American Express charge card, the merchant processor can be the same as (or at least closely affiliated with) the card issuer. In general, a "merchant procc~sor"
is any entity that 1Q acquires merchant transactions such as a bank or other financial institution, or that is dedicated to acquiring and processing merchant transactions. Acquitvng merchant transactions generally means receiving payment information from a merchant or on behalf of a merchant, obtaining authorization for the payment from the card issuer, sending that authorization. to the merchant, and then completing the transaction by paying the merchant, submitting the payment, and getting 15 paid by the issuer. For tras sen~ice, the merchant processor typically levies a fee on the merchant that is a percentage of the a'-nount of the payment transaction. In general, the payment irAfcrmation fonvarde~3 to the merchant processor relates to a customer identifier submitted to the merchant as payment for some goods) and/or service(s), and that identifier can be the account number Lzsscciated with, for example, a debit card, a smart card, a credit card (e.g., a 'Visa or 20 Mast~rCard card}, a charge card (e.g., an American Express card), etc.
The invention rhss relates to systems and processes for automated payment for a service, product, andlor cash advance provided to a merchant by the organization. The systems and processes of the invention utilize consumer payment transactions with the merchant to allow the merchant to pay off the service, product, andlor cash advance provided by the organization.
25 Typically, a percentage of G consumer's payment io the merchant (e.g., by credit card) is used to pay what the merchant owes to the orgattizat!on. In one embodiment of the present invention, a merchant, that h~ received a cash advance from the organization and/ar that has been provided with certain services andlor products by the organization, accepts a customer-identifying account number {e.g., a credit, charge, payment, or debit card number} as payment from the customer and 3Q , information related to the payment is forwarded to a merchant processor.
Acceptance of this type of payment from the customer can be done, for example, at a merchant location (e.g., a retail t~OED SH'~E't A~
establishment}, over the telephone, or electronically via, for example, the World Wide Web by the merchant or on behalf of the merchant. The merchant processor then acquires the information related to the payment transaction, processes that information, and forwards at least a portion of the transaction amount to the organization as repayment of at least a portion of the amount owed S by the merchant for the goods, services, and/or cash advance provided to the merchant.
Alternatively, the payments may be accumulated until a predetermined amount is reached, and then at least a portion of the accumulated payments is forwarded to the organization (or its designee). In another embodiment, the merchant processor may periodically forward at least a portion of the payments) to the organization or designee. For example, the merchant processor may forward payment amounts every month, or based on an amount such as after each one thousand dollars ($1000) worth of transactions. The organization or designee (e.g., a bank or other institution, or an entity collecting payments on behalf of the organization) receives the portion of the payment forwarded by the merchant processor and applies that amount to the amount owed by the merchant to reduce the outstanding amount whether it be owed by the 1 S merchant because of a product, service, and/or cash advance provided to the merchant.
A system according to the invention includes means for accepting a customer-identifying account number as payment from the customer and for forwarding information related to the payment to a merchant processor. In one embodiment, the merchant may use equipment provided by VeriFone Inc. of Redwood City, California, such as an electronic card swipe machine, to facilitate card transactions by customers. The merchant processor includes means for receiving the information related to the payment and means for forwarding a payment to an organization.
The invention thus provides an automated, easy, and efficient mechanism by which merchants that accept customer-identifying account numbers (e.g., credit cards) as payment for goods) and/or services) can pay off amounts owed by the merchants for services, products, 2S and/or cash advances provided to the merchants. The merchants use one or more already-familiar payment transaction processing systems to make the payments required by the provider of the services, products, and/or cash advances. The invention makes payment for advances, goods, and/or services simple and efficient for both the merchant and the organization.
The foregoing and other objects, aspects, features, and advantages of the invention will become more apparent from the following drawings, description, and claims.
Alternatively, the payments may be accumulated until a predetermined amount is reached, and then at least a portion of the accumulated payments is forwarded to the organization (or its designee). In another embodiment, the merchant processor may periodically forward at least a portion of the payments) to the organization or designee. For example, the merchant processor may forward payment amounts every month, or based on an amount such as after each one thousand dollars ($1000) worth of transactions. The organization or designee (e.g., a bank or other institution, or an entity collecting payments on behalf of the organization) receives the portion of the payment forwarded by the merchant processor and applies that amount to the amount owed by the merchant to reduce the outstanding amount whether it be owed by the 1 S merchant because of a product, service, and/or cash advance provided to the merchant.
A system according to the invention includes means for accepting a customer-identifying account number as payment from the customer and for forwarding information related to the payment to a merchant processor. In one embodiment, the merchant may use equipment provided by VeriFone Inc. of Redwood City, California, such as an electronic card swipe machine, to facilitate card transactions by customers. The merchant processor includes means for receiving the information related to the payment and means for forwarding a payment to an organization.
The invention thus provides an automated, easy, and efficient mechanism by which merchants that accept customer-identifying account numbers (e.g., credit cards) as payment for goods) and/or services) can pay off amounts owed by the merchants for services, products, 2S and/or cash advances provided to the merchants. The merchants use one or more already-familiar payment transaction processing systems to make the payments required by the provider of the services, products, and/or cash advances. The invention makes payment for advances, goods, and/or services simple and efficient for both the merchant and the organization.
The foregoing and other objects, aspects, features, and advantages of the invention will become more apparent from the following drawings, description, and claims.
Brief Description of the Drawings In the drawings, Like reference characters generally refer to the same parts throughout the different views. Also, the drawings are not necessarily to scale, emphasis instead generally being placed upon illustrating the principles of the invention.
FIGS. lA and 1B are schematic illustrations of a payment transaction from authorization (FIG. 1 A) to settlement (FIG. 1 B).
FIG. 2 is a block diagram of a merchant processor making payment to both a merchant and an organization, in accordance with the invention.
FIG. 3A is a diagram of a merchant processor system according to the invention.
FIG. 3B is a diagram of a merchant location.
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FIGS. lA and 1B are schematic illustrations of a payment transaction from authorization (FIG. 1 A) to settlement (FIG. 1 B).
FIG. 2 is a block diagram of a merchant processor making payment to both a merchant and an organization, in accordance with the invention.
FIG. 3A is a diagram of a merchant processor system according to the invention.
FIG. 3B is a diagram of a merchant location.
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Attartzey's Docket No.: 3IjT1-001 CPC
Description Referting to fIGS. lA and 1B, a purchase transaction (e.g., a credit card n-ansaction) generally begins v~ith a cardholder 10 providing a customer identifier (typically, a unique identifying account number such as that on a credit card such as a Visa or MasterCard card, a debit card, a smart card, a charge card such as an A.mericart Express card, etc.) to a merchant 20, as indicated by an arrow I2, for payment of goods andlor services purchased by the customer.
The merchant can be any business that accepts such fornn of payment for the goods andlor services provided to customers by the business. The cardholder 10 txuight present the card to the merchant 20 in person, or the cardholder I O might provide the card number to the mcrchaat over the telephone or electronically by computer (e.g., via the World Wide Web, WW1. Also, the cardholder 10 might provide the card number to an entity acting on behalf of the merchant such as a ~'W~,V provider that sets up and maintains the merchant's Web page(s).
However the customer identi$ex (e.g., card number) gets to the merchant er the merchant's agent, autherizat:on Tn~at be obtained before the payment can be accepted and the purchase transaction i5 completed.
Authorization, a~ shown in FIG. 1 A, involves an authorization request going t4 a merchant processor 30, as indicated by an arrow 22. The request generally gets to the merchant processor 30 electronically by, for example, transmission through the telephone system andlor same other network (e.g,, the Internet and/or an intrartet). 'fhe merchant processor 30 (also tcnow!i as an acquirer because it acquires merchant transactions} then routes thr authorization request to a ,;ard issuer ~0 via a network 40, as indicated by arrows 32 arid.,42. In some:
embodiments, the merchant proe~ssor 30 {300 in FIGS. 2 and 3A) is the bank of the merchant 20, and the card issuer 50 is the cardhal~3er's bank. The routing generally is performed electronis,311y in a manner mentioned above (i.e., via one or more public and/or private 2S networks). 'The tzetwork 40 may be, for example, the VisaNet system. Gth.er examples of Lhe 7etwork 40 inciui!e debit card processing network systems (e.g., Cirrus), the American Express card network, and the Discover (Novus) card network. It rnay be possible to bypass the network 40 and send the authorization rewuest directly from the merchant processor 30 to the Card issuer SG. In some instances, the card issuer 50 also performs the function of acquiring merchant uansactions (An=erican Express is an example). Also, the merchant processor 30 and the :ard issuer 50 can be metged, and the authorization request will then go only to the merch.at'it A~~.t~0~'~ SH~E~
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processor 30 which itself then can approve or disapprove the request because the mer'rhant processor 30 and the card issuer 50 are now the same entity. In the case where the network 40 is used and the card issuer 50 and the merchant processor 30 are separate (organizationally andJor physically) entities, the card issuer 50 receives the authorization request via the network 40 and either approves or disapproves the request. An example of when the card issuer 50 may disapprove the authorization request is when the cardholder 10 kras reached the maximum limit on the card or if the card number has been fraudulently obtained. assuming the request is approved, the card issuer 50 sends approval ofthe authorization to the merchant processo: 30 va the network 40, as indicated by arrows 44 and 34. The merchant processor sC
then passes on the authorization approval to the merchant, as indicated by an arrow 24. With the approval, the second part of the card transaction can now occur. This return path (i.e., arrows 44, 34, and 24) also can be accomplished by electronic transmission through one or more private andlor public network systems. In general, all of the arrows in FIGS. lA. 1B, and 2 represent electronic transmissions, except possibly for arrows i2, 22, 24, 2b, 32, aad 5~t which may involve other types of transmission such as physical delivery (e.g., a card handed oven by the catdl~olderlcustotntr 10) or post (e.g., a bill sent to the cardholder 10 via the L3.S. Postal Service or other carrier) or by telephone.
Referring to F1G. 113, to complete the purchase transaction, the dollar aruount of the customer's purchase is forwarded to the merchane processor 30 by the rnercharrt 20, as indicated by an arrow 2b. The merchant processor 3G pays the merchant 20 some amount less than the amount submitted to the merchant pcocessor 30. The rnarchant processor 3.0 typically charges a fee, often referred to as a discount rate, for processing the purchase transaction. For example, the customer's purchase may have been ~1U0, and with a discount rate of 1.9°,'0, the m°rchant 20 is paid $98.10 (i.e., $I00 less the 1.9°/a discount rate) by the merchant processor 30. Tne merchant processor 30 submits the entire amount of thz customer's purchase to the card issuer 50 via the network 40, as indicated by arrows 36 and 46. Again, tl~e network 40 m:~y be eliminated, and the merchant processor and card issuer functions may be contained in one entity.
In tk:e case where the net<vork 40 is included and the mcrchent processor and card issuer functions are separate, the card issuer 50, via the network 40, pays the merchant pmcesor 30 some amount less than the amount submitted to the card issuer 50 by the merchant processor 30, as indicated by arrows 48 A~~~'~ SHcET
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and 38. This reduced amount rcflects another fee levied on the transaction by the card issuer S0, often refezred tv as an interchangc fee. The interchange fee is often part of the discount rate.
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_g_ having an account maintained by the merchant 20) some amount less than the customer's original purchase amount, as indicated by an arrow 28. For example, with an original customer purchase of $100, and with an interchange fee of 1.4%, the merchant processor 30 is paid $98.60 (i. e., $100 less the 1.4% interchange fee) by the card issuer 50. This amount is further reduced by the merchant processor's fee. Thus, in this $100 original customer purchase example, the merchant 20 is paid $98.10 by the merchant processor 30, the merchant processor 30 makes $0.50, and the card issuer makes $1.40. Stated another way, the merchant 20 pays 1.9% for the ability to oiler customers the convenience of paying by card, and that 1.9% fee or surcharge is allocated to the merchant processor 30 (0.5%) and the card issuer (1.4%) for providing the merchant 20 with that ability.
The card issuer SO bills the customer or cardholder 10 for the full amount of the original purchase (e.g., $100), and the cardholder 10 is responsible for paying that amount, plus any interest and other fees, in full or in installment payments. Also, when the network 40 is used, both the merchant processor 30 and the card issuer 50 generally pay a fee to the provider of the network 40. For example, in the case of VisaNet, the merchant processor might pay $0.069 to VisaNet as a card service fee, and the card issuer 50 might pay VisaNet $0.059 as a card service and transaction fee. These payments by the merchant processor 30 and the card issuer 50 to the provider of the network 40 reduce the amount made off of the surcharge (e.g., 1.9%) imposed on the merchant 20.
Having described the environment in which the invention operates with reference to FIGS.
1 A and 1 B, the automated payment system and process according to the invention will now be described with reference to FIGS. 2, 3A, and 3B.
Referring to FIG. 2, an organization 60 provides an advance (e.g., a loan) to the merchant 20, as indicated by an arrow 62, and/or the organization 60 provides to the merchant 20 various products, services, and/or business tools and resources such as, for example, payroll services, discounted office equipment and supplies, travel discounts, various employee benefit programs such as discount dental services, various professional services such as legal services, and marketing services, as also indicated by the arrow 62. The advance can be for the purpose of allowing the merchant 20 to buy, and/or have access to, the various products, services, and/or business tools and resources supplied by the organization 60, or the merchant 20 can use the advance for another purpose. The various products, services, and/or business tools and resources supplied by the organization 60 to the merchant 20 do not include the card processing services normally performed by a merchant processor.
If the cash advance is made, the merchant 20 then is required to pay back at least the advanced amount and usually additional amounts such as fees associated with the advance.
Currently, the merchant 20 typically pays the advance back in periodic installments (e.g., equal monthly payments over five years). The merchant 20 may make these payments to the organization 60 or to some other payment receiver. In FIG. 2, the payment receiver is identified as the organization 60. In accordance with the invention, a purchase transaction occurs as indicated in FIG. 1B except that the final step where the merchant processor pays the merchant is altered. That is, the payment indicated by the arrow 28 is altered. The invention involves a merchant processor 300 designed to pay a portion of what would normally go to the merchant 20 to the organization 60 as payment of at least a portion of the amount owed by the merchant 20 for the service, product, and/or cash advance that was provided to the merchant 20, as indicated by an arrow 29. The organization 60 then receives that portion of the payment forwarded by the I S merchant processor 300 and applies it to the outstanding amount owed by the merchant to reduce that amount. The merchant processor 300 thus pays the merchant 20 some amount less than what the merchant 20 would receive in the arrangement of FIG. I B, as indicated by an arrow 27 in FIG. 2. For example, carrying on with the example introduced above with reference to FIGS. lA
and 1B, instead of paying $98.10 to the merchant 20 on a $100 original card purchase, the merchant processor 300 might send $88.10 to the merchant 20 and the other $10.00 to the organization 60.
Whether or not a cash advance is provided to the merchant 20, if the organization 60 provides to the merchant 20 the various products, services, and/or business tools and resources, the merchant 20 then is required to pay a fee to the organization 60. In general, whether or not the merchant 20 takes advantage of the various products, services, and/or business tools and resources offered by the organization 60, the merchant 20, once signed up with the organization 60, owes the organization 60 a fee for being provided with access to the array of products and/or services offered by the organization 60. Currently, the merchant 20 typically pays the fee in one lump sum to the organization 60 or to some other fee receiver. In accordance with the invention, a purchase transaction occurs as indicated in FIG. 1B except that the final step where the merchant processor pays the merchant is altered. That is, the payment indicated by the arrow 28 is altered. The invention involves a merchant processor 300 designed to pay a portion of what would normally go to the merchant 20 to the organization 60 {or a fee receiver) as payment of at least a portion of the fee owed by the merchant, as indicated by the arrow 29.
The organization 60 then receives that portion of the payment forwarded by the merchant processor 300 and applies it to the fee owed to the organization 60 by the merchant to reduce or eliminate that outstanding amount. The merchant processor 300 thus pays the merchant 20 some amount less than what the merchant 20 would receive in the arrangement of FIG. 1B, as indicated by an arrow 27 in FIG. 2. For example, carrying on with the example introduced above with reference to FIGS. lA and 1B, instead of paying $98.10 to the merchant 20 on a $100 original card purchase, the merchant processor 300 might send $88.10 to the merchant 20 and the other $10.00 to the organization 60.
In accordance with the invention, there can be a number of variations on how and when the merchant processor 300 pays the organization 60. For example, the merchant processor 300 can accumulate the payments received from the card issuer 50 (via arrows 48 and 38) until a 1 S predetermined dollar amount is reached, and then the merchant processor 300 can forward at least a portion of the accumulated payments to the organization 60. Also, as another example, the merchant processor 300 can periodically forward payment to the organization 60, such as upon every other payment received from the card issuer 50.
Referring to FIG. 3A, the merchant processor 300 according to the invention typically includes at least a processor 302, memory 304, an input/output (I/O) device 306, a merchant accounts database 308, and a bus 310 or other means for allowing these components to communicate. The I/O module 306 allows the merchant processor 300 to communicate electronically with the other components (e.g., the merchant 20, the network 40, the card issuer 50 , and the organization 60) in the card transaction processing system shown in the drawings.
The processor 302 and the memory 304 cooperate with each other and with the other components of the merchant processor 300 to perform all of the functionality described herein. In one embodiment, the merchant processor 300 executes appropriate software to perform all of the functionality described herein. In an alternative embodiment, some or all of the functionality described herein can be accomplished with dedicated electronics hard-wired to perform the described functions. The merchant accounts database 308 can include information identifying all merchants 20 with which the merchant processor 300 is authorized to do business (e.g., at least a plurality of unique merchant code numbers), and it also can include information about which organization 60 is associated with each authorized merchant 20 and how (e.g., dollar amounts and frequency) payments are to be made to the organizations 60 by the merchant processor 300. The merchant processor 300 according to the invention can be an appropriately programmed computer such as a mainframe, minicomputer, PC, or Macintosh computer, or it can include a plurality of such computers cooperating to perform the functionality described herein. Similarly, the other components of the card transaction system (e.g., the merchant 20, the network 40, the card issuer 50, and the organization 60) according to the invention typically include one or more appropriately programmed computers for implementing the functionality described herein.
Referring to FIG. 3B, the merchant 20 typically includes at least one computer unit 312, such as a microprocessor and associated peripherals, that communicates over a bus 314 with a consumer data input device 316, a transaction data input device 3 I 8, memory 320, and an input/output (I/O) device 322. The consumer data input device 316 is located at the point-of sale to a consumer of merchandise or services from the merchant. The device 3 I 6 can include a 1 S keyboard for use to enter a consumer's account number/identif er, or alternatively it can include a magnetic card reader for reading a magnetic stripe on a plastic card inserted into the reader. With such a magnetic stripe card, the stripe is encoded with the identifier (e.g., the customer's Visa credit card account number). When such a plastic card is used, the device 316 also may include a keyboard for entry of a personal identification number (PIN) for verifying against a code stored in or on the card. The transaction data input device 318 also is located at the point-of sale, and it typically includes a keyboard or the like for use by, for example, a sales clerk to enter the dollar amount of the merchandise or service purchased by the customer and possibly other related information. The device 318 could include a cash register. In some embodiments, the devices 316 and 318 can share a single keyboard. The consumer and transaction data entered through the devices 316 and 318 may be temporarily stored in the memory 320. The memory 320 also may include merchant data along with software to direct operation of the computer 312. The merchant data typically will include at least a merchant code number to identify the merchant, and merchant data also may include information indicating the time or Location of the sale and/or the sales clerk involved in the purchase transaction, for example. The merchant 20 may have more than one point-of sale locations and each such location can be equipped with consumer and transaction data input devices 316 and 318. Similarly, memory 320 and I/O
devices 322 can be replicated at each point-of sale location at the merchant 20. In one embodiment, only the devices 316 and 318 are replicated at the merchant 20 such that only one computer 312 is needed by each single merchant location. VeriFone Inc. of Redwood City, California, for example, provides such merchant-location equipment.
Referring now to both FIG. 3A and FIG. 3B, the merchant processor 300 and the merchant 20 can communicate through the I/O devices 306 and 322. These devices 306 and 322 can be modems, for example.
While only one merchant 20 and one organization 60 are shown in the drawings, it should be understood that in general a plurality of merchants 20 will interact with the merchant processor 300, and the merchant processor 300 could interact with one or more organizations 60, in accordance with the invention. The different merchants 20 generally will have varying outstanding amounts owed to one or more of the various organizations 60. The invention has been shown and described with reference to one merchant 20 and one organization 60 for simplicity and ease of understanding. Also, as stated previously, the merchant processor 300 and the card issuer 50 can be separate entities (as is generally the case with Visa card processing) or the same entity, or at least affiliated entities, (as is generally the case with American Express card processing).
Variations, modifications, and other implementations of what is described herein will occur to those of ordinary skill in the art without departing from the spirit and the scope of the invention as claimed. Accordingly, the invention is to be defined not by the preceding illustrative description but instead by the spirit and scope of the following claims.
What is claimed is:
The merchant can be any business that accepts such fornn of payment for the goods andlor services provided to customers by the business. The cardholder 10 txuight present the card to the merchant 20 in person, or the cardholder I O might provide the card number to the mcrchaat over the telephone or electronically by computer (e.g., via the World Wide Web, WW1. Also, the cardholder 10 might provide the card number to an entity acting on behalf of the merchant such as a ~'W~,V provider that sets up and maintains the merchant's Web page(s).
However the customer identi$ex (e.g., card number) gets to the merchant er the merchant's agent, autherizat:on Tn~at be obtained before the payment can be accepted and the purchase transaction i5 completed.
Authorization, a~ shown in FIG. 1 A, involves an authorization request going t4 a merchant processor 30, as indicated by an arrow 22. The request generally gets to the merchant processor 30 electronically by, for example, transmission through the telephone system andlor same other network (e.g,, the Internet and/or an intrartet). 'fhe merchant processor 30 (also tcnow!i as an acquirer because it acquires merchant transactions} then routes thr authorization request to a ,;ard issuer ~0 via a network 40, as indicated by arrows 32 arid.,42. In some:
embodiments, the merchant proe~ssor 30 {300 in FIGS. 2 and 3A) is the bank of the merchant 20, and the card issuer 50 is the cardhal~3er's bank. The routing generally is performed electronis,311y in a manner mentioned above (i.e., via one or more public and/or private 2S networks). 'The tzetwork 40 may be, for example, the VisaNet system. Gth.er examples of Lhe 7etwork 40 inciui!e debit card processing network systems (e.g., Cirrus), the American Express card network, and the Discover (Novus) card network. It rnay be possible to bypass the network 40 and send the authorization rewuest directly from the merchant processor 30 to the Card issuer SG. In some instances, the card issuer 50 also performs the function of acquiring merchant uansactions (An=erican Express is an example). Also, the merchant processor 30 and the :ard issuer 50 can be metged, and the authorization request will then go only to the merch.at'it A~~.t~0~'~ SH~E~
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processor 30 which itself then can approve or disapprove the request because the mer'rhant processor 30 and the card issuer 50 are now the same entity. In the case where the network 40 is used and the card issuer 50 and the merchant processor 30 are separate (organizationally andJor physically) entities, the card issuer 50 receives the authorization request via the network 40 and either approves or disapproves the request. An example of when the card issuer 50 may disapprove the authorization request is when the cardholder 10 kras reached the maximum limit on the card or if the card number has been fraudulently obtained. assuming the request is approved, the card issuer 50 sends approval ofthe authorization to the merchant processo: 30 va the network 40, as indicated by arrows 44 and 34. The merchant processor sC
then passes on the authorization approval to the merchant, as indicated by an arrow 24. With the approval, the second part of the card transaction can now occur. This return path (i.e., arrows 44, 34, and 24) also can be accomplished by electronic transmission through one or more private andlor public network systems. In general, all of the arrows in FIGS. lA. 1B, and 2 represent electronic transmissions, except possibly for arrows i2, 22, 24, 2b, 32, aad 5~t which may involve other types of transmission such as physical delivery (e.g., a card handed oven by the catdl~olderlcustotntr 10) or post (e.g., a bill sent to the cardholder 10 via the L3.S. Postal Service or other carrier) or by telephone.
Referring to F1G. 113, to complete the purchase transaction, the dollar aruount of the customer's purchase is forwarded to the merchane processor 30 by the rnercharrt 20, as indicated by an arrow 2b. The merchant processor 3G pays the merchant 20 some amount less than the amount submitted to the merchant pcocessor 30. The rnarchant processor 3.0 typically charges a fee, often referred to as a discount rate, for processing the purchase transaction. For example, the customer's purchase may have been ~1U0, and with a discount rate of 1.9°,'0, the m°rchant 20 is paid $98.10 (i.e., $I00 less the 1.9°/a discount rate) by the merchant processor 30. Tne merchant processor 30 submits the entire amount of thz customer's purchase to the card issuer 50 via the network 40, as indicated by arrows 36 and 46. Again, tl~e network 40 m:~y be eliminated, and the merchant processor and card issuer functions may be contained in one entity.
In tk:e case where the net<vork 40 is included and the mcrchent processor and card issuer functions are separate, the card issuer 50, via the network 40, pays the merchant pmcesor 30 some amount less than the amount submitted to the card issuer 50 by the merchant processor 30, as indicated by arrows 48 A~~~'~ SHcET
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and 38. This reduced amount rcflects another fee levied on the transaction by the card issuer S0, often refezred tv as an interchangc fee. The interchange fee is often part of the discount rate.
~P~,~'~~~'~ ~HcFZ
_g_ having an account maintained by the merchant 20) some amount less than the customer's original purchase amount, as indicated by an arrow 28. For example, with an original customer purchase of $100, and with an interchange fee of 1.4%, the merchant processor 30 is paid $98.60 (i. e., $100 less the 1.4% interchange fee) by the card issuer 50. This amount is further reduced by the merchant processor's fee. Thus, in this $100 original customer purchase example, the merchant 20 is paid $98.10 by the merchant processor 30, the merchant processor 30 makes $0.50, and the card issuer makes $1.40. Stated another way, the merchant 20 pays 1.9% for the ability to oiler customers the convenience of paying by card, and that 1.9% fee or surcharge is allocated to the merchant processor 30 (0.5%) and the card issuer (1.4%) for providing the merchant 20 with that ability.
The card issuer SO bills the customer or cardholder 10 for the full amount of the original purchase (e.g., $100), and the cardholder 10 is responsible for paying that amount, plus any interest and other fees, in full or in installment payments. Also, when the network 40 is used, both the merchant processor 30 and the card issuer 50 generally pay a fee to the provider of the network 40. For example, in the case of VisaNet, the merchant processor might pay $0.069 to VisaNet as a card service fee, and the card issuer 50 might pay VisaNet $0.059 as a card service and transaction fee. These payments by the merchant processor 30 and the card issuer 50 to the provider of the network 40 reduce the amount made off of the surcharge (e.g., 1.9%) imposed on the merchant 20.
Having described the environment in which the invention operates with reference to FIGS.
1 A and 1 B, the automated payment system and process according to the invention will now be described with reference to FIGS. 2, 3A, and 3B.
Referring to FIG. 2, an organization 60 provides an advance (e.g., a loan) to the merchant 20, as indicated by an arrow 62, and/or the organization 60 provides to the merchant 20 various products, services, and/or business tools and resources such as, for example, payroll services, discounted office equipment and supplies, travel discounts, various employee benefit programs such as discount dental services, various professional services such as legal services, and marketing services, as also indicated by the arrow 62. The advance can be for the purpose of allowing the merchant 20 to buy, and/or have access to, the various products, services, and/or business tools and resources supplied by the organization 60, or the merchant 20 can use the advance for another purpose. The various products, services, and/or business tools and resources supplied by the organization 60 to the merchant 20 do not include the card processing services normally performed by a merchant processor.
If the cash advance is made, the merchant 20 then is required to pay back at least the advanced amount and usually additional amounts such as fees associated with the advance.
Currently, the merchant 20 typically pays the advance back in periodic installments (e.g., equal monthly payments over five years). The merchant 20 may make these payments to the organization 60 or to some other payment receiver. In FIG. 2, the payment receiver is identified as the organization 60. In accordance with the invention, a purchase transaction occurs as indicated in FIG. 1B except that the final step where the merchant processor pays the merchant is altered. That is, the payment indicated by the arrow 28 is altered. The invention involves a merchant processor 300 designed to pay a portion of what would normally go to the merchant 20 to the organization 60 as payment of at least a portion of the amount owed by the merchant 20 for the service, product, and/or cash advance that was provided to the merchant 20, as indicated by an arrow 29. The organization 60 then receives that portion of the payment forwarded by the I S merchant processor 300 and applies it to the outstanding amount owed by the merchant to reduce that amount. The merchant processor 300 thus pays the merchant 20 some amount less than what the merchant 20 would receive in the arrangement of FIG. I B, as indicated by an arrow 27 in FIG. 2. For example, carrying on with the example introduced above with reference to FIGS. lA
and 1B, instead of paying $98.10 to the merchant 20 on a $100 original card purchase, the merchant processor 300 might send $88.10 to the merchant 20 and the other $10.00 to the organization 60.
Whether or not a cash advance is provided to the merchant 20, if the organization 60 provides to the merchant 20 the various products, services, and/or business tools and resources, the merchant 20 then is required to pay a fee to the organization 60. In general, whether or not the merchant 20 takes advantage of the various products, services, and/or business tools and resources offered by the organization 60, the merchant 20, once signed up with the organization 60, owes the organization 60 a fee for being provided with access to the array of products and/or services offered by the organization 60. Currently, the merchant 20 typically pays the fee in one lump sum to the organization 60 or to some other fee receiver. In accordance with the invention, a purchase transaction occurs as indicated in FIG. 1B except that the final step where the merchant processor pays the merchant is altered. That is, the payment indicated by the arrow 28 is altered. The invention involves a merchant processor 300 designed to pay a portion of what would normally go to the merchant 20 to the organization 60 {or a fee receiver) as payment of at least a portion of the fee owed by the merchant, as indicated by the arrow 29.
The organization 60 then receives that portion of the payment forwarded by the merchant processor 300 and applies it to the fee owed to the organization 60 by the merchant to reduce or eliminate that outstanding amount. The merchant processor 300 thus pays the merchant 20 some amount less than what the merchant 20 would receive in the arrangement of FIG. 1B, as indicated by an arrow 27 in FIG. 2. For example, carrying on with the example introduced above with reference to FIGS. lA and 1B, instead of paying $98.10 to the merchant 20 on a $100 original card purchase, the merchant processor 300 might send $88.10 to the merchant 20 and the other $10.00 to the organization 60.
In accordance with the invention, there can be a number of variations on how and when the merchant processor 300 pays the organization 60. For example, the merchant processor 300 can accumulate the payments received from the card issuer 50 (via arrows 48 and 38) until a 1 S predetermined dollar amount is reached, and then the merchant processor 300 can forward at least a portion of the accumulated payments to the organization 60. Also, as another example, the merchant processor 300 can periodically forward payment to the organization 60, such as upon every other payment received from the card issuer 50.
Referring to FIG. 3A, the merchant processor 300 according to the invention typically includes at least a processor 302, memory 304, an input/output (I/O) device 306, a merchant accounts database 308, and a bus 310 or other means for allowing these components to communicate. The I/O module 306 allows the merchant processor 300 to communicate electronically with the other components (e.g., the merchant 20, the network 40, the card issuer 50 , and the organization 60) in the card transaction processing system shown in the drawings.
The processor 302 and the memory 304 cooperate with each other and with the other components of the merchant processor 300 to perform all of the functionality described herein. In one embodiment, the merchant processor 300 executes appropriate software to perform all of the functionality described herein. In an alternative embodiment, some or all of the functionality described herein can be accomplished with dedicated electronics hard-wired to perform the described functions. The merchant accounts database 308 can include information identifying all merchants 20 with which the merchant processor 300 is authorized to do business (e.g., at least a plurality of unique merchant code numbers), and it also can include information about which organization 60 is associated with each authorized merchant 20 and how (e.g., dollar amounts and frequency) payments are to be made to the organizations 60 by the merchant processor 300. The merchant processor 300 according to the invention can be an appropriately programmed computer such as a mainframe, minicomputer, PC, or Macintosh computer, or it can include a plurality of such computers cooperating to perform the functionality described herein. Similarly, the other components of the card transaction system (e.g., the merchant 20, the network 40, the card issuer 50, and the organization 60) according to the invention typically include one or more appropriately programmed computers for implementing the functionality described herein.
Referring to FIG. 3B, the merchant 20 typically includes at least one computer unit 312, such as a microprocessor and associated peripherals, that communicates over a bus 314 with a consumer data input device 316, a transaction data input device 3 I 8, memory 320, and an input/output (I/O) device 322. The consumer data input device 316 is located at the point-of sale to a consumer of merchandise or services from the merchant. The device 3 I 6 can include a 1 S keyboard for use to enter a consumer's account number/identif er, or alternatively it can include a magnetic card reader for reading a magnetic stripe on a plastic card inserted into the reader. With such a magnetic stripe card, the stripe is encoded with the identifier (e.g., the customer's Visa credit card account number). When such a plastic card is used, the device 316 also may include a keyboard for entry of a personal identification number (PIN) for verifying against a code stored in or on the card. The transaction data input device 318 also is located at the point-of sale, and it typically includes a keyboard or the like for use by, for example, a sales clerk to enter the dollar amount of the merchandise or service purchased by the customer and possibly other related information. The device 318 could include a cash register. In some embodiments, the devices 316 and 318 can share a single keyboard. The consumer and transaction data entered through the devices 316 and 318 may be temporarily stored in the memory 320. The memory 320 also may include merchant data along with software to direct operation of the computer 312. The merchant data typically will include at least a merchant code number to identify the merchant, and merchant data also may include information indicating the time or Location of the sale and/or the sales clerk involved in the purchase transaction, for example. The merchant 20 may have more than one point-of sale locations and each such location can be equipped with consumer and transaction data input devices 316 and 318. Similarly, memory 320 and I/O
devices 322 can be replicated at each point-of sale location at the merchant 20. In one embodiment, only the devices 316 and 318 are replicated at the merchant 20 such that only one computer 312 is needed by each single merchant location. VeriFone Inc. of Redwood City, California, for example, provides such merchant-location equipment.
Referring now to both FIG. 3A and FIG. 3B, the merchant processor 300 and the merchant 20 can communicate through the I/O devices 306 and 322. These devices 306 and 322 can be modems, for example.
While only one merchant 20 and one organization 60 are shown in the drawings, it should be understood that in general a plurality of merchants 20 will interact with the merchant processor 300, and the merchant processor 300 could interact with one or more organizations 60, in accordance with the invention. The different merchants 20 generally will have varying outstanding amounts owed to one or more of the various organizations 60. The invention has been shown and described with reference to one merchant 20 and one organization 60 for simplicity and ease of understanding. Also, as stated previously, the merchant processor 300 and the card issuer 50 can be separate entities (as is generally the case with Visa card processing) or the same entity, or at least affiliated entities, (as is generally the case with American Express card processing).
Variations, modifications, and other implementations of what is described herein will occur to those of ordinary skill in the art without departing from the spirit and the scope of the invention as claimed. Accordingly, the invention is to be defined not by the preceding illustrative description but instead by the spirit and scope of the following claims.
What is claimed is:
Claims (63)
1. A method for automated payment for a service, comprising:
(A) providing the service to an entity for a fee; and (B) receiving at least a portion of the fee for the service based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor;
(ii) at the merchant processor, acquiring the information related to the payment and forwarding at least a portion of the payment to a service fee receiver to pay at least a portion of the fee for the service provided to the entity; and (iii) at the service fee receiver, receiving the portion of the payment forwarded by the merchant processor and applying that portion to the fee for the service provided to the entity.
(A) providing the service to an entity for a fee; and (B) receiving at least a portion of the fee for the service based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor;
(ii) at the merchant processor, acquiring the information related to the payment and forwarding at least a portion of the payment to a service fee receiver to pay at least a portion of the fee for the service provided to the entity; and (iii) at the service fee receiver, receiving the portion of the payment forwarded by the merchant processor and applying that portion to the fee for the service provided to the entity.
2. The method of claim 1 wherein the accepting step comprises accepting a credit card number as the customer identifier.
3. The method of claim 1 wherein the accepting step comprises accepting a debit card number as the customer identifier.
4. The method of claim 1 wherein the accepting step comprises accepting a smart card including the customer identifier.
5. The method of claim 1 wherein the accepting step comprises accepting a charge card number as the customer identifier.
6. The method of claim 1 wherein the accepting step comprises accepting the customer identifier at a merchant location.
7. The method of claim 1 wherein the accepting step comprises electronically accepting the customer identifier.
8. The method of claim 1 wherein the steps performed at the merchant processor further comprise accumulating the payments until a predetermined amount is reached and then forwarding at least a portion of the accumulated payments to the service fee receiver.
9. The method of claim 1 wherein the steps performed at the merchant processor comprise periodically forwarding at least a portion of the payment to the service fee receiver.
10. The method of claim 1 wherein the providing step comprises providing the service to the entity which comprises a merchant.
11. A method for automated payment for a product, comprising:
(A) providing the product to an entity for a fee; and (B) receiving at least a portion of the fee for the product based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor;
(ii) at the merchant processor, acquiring the information related to the payment and forwarding at least a portion of the payment to a product fee receiver to pay at least a portion of the fee for the product provided to the entity; and (iii) at the product fee receiver, receiving the portion of the payment forwarded by the merchant processor and applying that portion to the fee for the product provided to the entity.
(A) providing the product to an entity for a fee; and (B) receiving at least a portion of the fee for the product based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor;
(ii) at the merchant processor, acquiring the information related to the payment and forwarding at least a portion of the payment to a product fee receiver to pay at least a portion of the fee for the product provided to the entity; and (iii) at the product fee receiver, receiving the portion of the payment forwarded by the merchant processor and applying that portion to the fee for the product provided to the entity.
12. The method of claim 11 wherein the accepting step comprises accepting a credit card number as the customer identifier.
13. The method of claim 11 wherein the accepting step comprises accepting a debit card number as the customer identifier.
14. The method of claim 11 wherein the accepting step comprises accepting a smart card including the customer identifier.
15. The method of claim 11 wherein the accepting step comprises accepting a charge card number as the customer identifier.
16. The method of claim 11 wherein the accepting step comprises accepting the customer identifier at a merchant location.
17. The method of claim 11 wherein the accepting step comprises electronically accepting the customer identifier.
18. The method of claim 11 wherein the steps performed at the merchant processor further comprise accumulating the payments until a predetermined amount is reached and then forwarding at least a portion of the accumulated payments to the product fee receiver.
19. The method of claim 11 wherein the steps performed at the merchant processor comprise periodically forwarding at least a portion of the payment to the product fee receiver.
20. The method of claim 11 wherein the providing step comprises providing the product to the entity which comprises a merchant.
21. A system for automated payment for a service, comprising:
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor, wherein an entity associated with the payment owes a fee for a service provided to the entity; and at the merchant processor, means for receiving the information related to the payment and means for forwarding to a service fee receiver at least a portion of the payment to pay at least a portion of the fee for the service provided to the entity.
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor, wherein an entity associated with the payment owes a fee for a service provided to the entity; and at the merchant processor, means for receiving the information related to the payment and means for forwarding to a service fee receiver at least a portion of the payment to pay at least a portion of the fee for the service provided to the entity.
22. The system of claim 21 wherein the accepting means comprises means for accepting a credit card number as the customer identifier.
23. The system of claim 21 wherein the accepting means comprises means for accepting a debit card number as the customer identifier.
24. The system of claim 21 wherein the accepting means comprises means for accepting a smart card including the customer identifier.
25. The system of claim 21 wherein the accepting means comprises means for accepting a charge card number as the customer identifier.
26. The system of claim 21 wherein the accepting means comprises means for accepting the customer identifier at a merchant location.
27. The system of claim 21 wherein the accepting means comprises means for electronically accepting the customer identifier.
28. The system of claim 21 wherein the means at the merchant processor further comprise means for accumulating the payments until a predetermined amount is reached and means for forwarding at least a portion of the accumulated payments to the service fee receiver.
29. The system of claim 21 wherein the forwarding means at the merchant processor comprises means for periodically forwarding the portion of the payment to the service fee receiver.
30. The system of claim 21 wherein the forwarding means at the merchant processor comprises means for forwarding to the service fee receiver the portion of the payment which comprises a percentage of the payment.
31. The system of claim 21 wherein the entity comprises a merchant.
32. A system for automated payment for a product, comprising:
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor, wherein an entity associated with the payment owes a fee for a product provided to the entity; and at the merchant processor, means for receiving the information related to the payment and means for forwarding to a product fee receiver at least a portion of the payment to pay at least a portion of the fee for the product provided to the entity.
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor, wherein an entity associated with the payment owes a fee for a product provided to the entity; and at the merchant processor, means for receiving the information related to the payment and means for forwarding to a product fee receiver at least a portion of the payment to pay at least a portion of the fee for the product provided to the entity.
33. The system of claim 32 wherein the accepting means comprises means for accepting a credit card number as the customer identifier.
34. The system of claim 32 wherein the accepting means comprises means for accepting a debit card number as the customer identifier.
35. The system of claim 32 wherein the accepting means comprises means for accepting a smart card including the customer identifier.
36. The system of claim 32 wherein the accepting means comprises means for accepting a charge card number as the customer identifier.
37. The system of claim 32 wherein the accepting means comprises means for accepting the customer identifier at a merchant location.
38. The system of claim 32 wherein the accepting means comprises means for electronically accepting the customer identifier.
39. The system of claim 32 wherein the means at the merchant processor further comprise means for accumulating the payments until a predetermined amount is reached and means for forwarding at least a portion of the accumulated payments to the product fee receiver.
40. The system of claim 32 wherein the forwarding means at the merchant processor comprises means for periodically forwarding the portion of the payment to the product fee receiver.
41. The system of claim 32 wherein the forwarding means at the merchant processor comprises means for forwarding to the product fee receiver the portion of the payment which comprises a percentage of the payment.
42. The system of claim 32 wherein the entity comprises a merchant.
43. A method for automated repayment of a cash advance. comprising:
(A) providing the cash advance to an entity; and (B) receiving at least a portion of the cash advance based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor; and (ii) at the merchant processor; acquiring the information related to the payment and forwarding at least a portion of the payment to repay at least a portion of the cash advance provided to the entity.
(A) providing the cash advance to an entity; and (B) receiving at least a portion of the cash advance based on at least one payment transaction between the entity and at least one customer of the entity by a process comprising:
(i) accepting a customer identifier as payment from the customer and forwarding information related to the payment to a merchant processor; and (ii) at the merchant processor; acquiring the information related to the payment and forwarding at least a portion of the payment to repay at least a portion of the cash advance provided to the entity.
44. The method of claim 43 wherein the accepting step comprises accepting a credit card number as the customer identifier.
45. The method of claim 43 wherein the accepting step comprises accepting a debit card number as the customer identifier.
46. The method of claim 43 wherein the accepting step comprises accepting a smart card including the customer identifier.
47. The method of claim 43 wherein the accepting step comprises accepting a charge card number as the customer identifier.
48. The method of claim 43 wherein the accepting step comprises accepting the customer identifier at a merchant location.
49. The method of claim 43 wherein the accepting step comprises electronically accepting the customer identifier.
50. The method of claim 43 wherein the steps performed at the merchant processor further comprise accumulating the payments until a predetermined amount is reached and then forwarding at least a portion of the accumulated payments.
51. The method of claim 43 wherein the steps performed at the merchant processor comprise periodically forwarding at least a portion of the payment.
52. The method of claim 43 wherein the providing step comprises providing the cash advance to the entity which comprises a merchant.
53. A system for automated repayment of a cash advance, comprising:
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor wherein an entity associated with the payment was provided with the cash advance; and at the merchant processor, means for receiving the information related to the payment and means far forwarding at least a portion of the payment to repay at least a portion of the cash advance provided to the entity.
means for accepting a customer identifier as payment from a customer and for forwarding information related to the payment to a merchant processor wherein an entity associated with the payment was provided with the cash advance; and at the merchant processor, means for receiving the information related to the payment and means far forwarding at least a portion of the payment to repay at least a portion of the cash advance provided to the entity.
54. The system of claim 53 wherein the accepting means comprises means for accepting a credit card number as the customer identifier.
55. The system of claim 53 wherein the accepting means comprises means for accepting debit card number as the customer identifier.
56. The system of claim 53 wherein the accepting means comprises means for accepting a smart card including the customer identifier.
57. The system of claim 53 wherein the accepting means comprises means for accepting a charge card number as the customer identifier.
58. The system of claim 53 wherein the accepting means comprises means for accepting the customer identifier at a merchant location.
59. The system of claim 53 wherein the accepting means comprises means for electronically accepting the customer identifier.
60. The system of claim 53 wherein the means at the merchant processor further comprises means for accumulating the payments until a predetermined amount is reached and means for forwarding at least a portion of the accumulated payments.
61. The system of claim 53 wherein the forwarding means at the merchant processor comprises means for periodically forwarding the portion of the payment.
62. The system of claim 53 wherein the forwarding means at the merchant processor comprises means for forwarding the portion of the payment which comprises a percentage of the payment.
63. The system of claim 53 wherein the entity comprises a merchant.
Applications Claiming Priority (5)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| US08/890,398 US6826544B1 (en) | 1997-07-09 | 1997-07-09 | Automated loan repayment |
| US4606298A | 1998-03-23 | 1998-03-23 | |
| US08/890,398 | 1998-03-23 | ||
| US09/046,062 | 1998-03-23 | ||
| PCT/US1998/013293 WO1999003076A1 (en) | 1997-07-09 | 1998-06-26 | Automated payment system and method |
Publications (1)
| Publication Number | Publication Date |
|---|---|
| CA2295615A1 true CA2295615A1 (en) | 1999-01-21 |
Family
ID=26723521
Family Applications (2)
| Application Number | Title | Priority Date | Filing Date |
|---|---|---|---|
| CA002295615A Abandoned CA2295615A1 (en) | 1997-07-09 | 1998-06-26 | Automated payment system and method |
| CA002295613A Abandoned CA2295613A1 (en) | 1997-07-09 | 1998-06-26 | Automated loan repayment |
Family Applications After (1)
| Application Number | Title | Priority Date | Filing Date |
|---|---|---|---|
| CA002295613A Abandoned CA2295613A1 (en) | 1997-07-09 | 1998-06-26 | Automated loan repayment |
Country Status (5)
| Country | Link |
|---|---|
| EP (2) | EP0995173A1 (en) |
| JP (2) | JP2001509628A (en) |
| AU (2) | AU7988598A (en) |
| CA (2) | CA2295615A1 (en) |
| WO (2) | WO1999003076A1 (en) |
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|---|---|---|---|---|
| US7536325B2 (en) | 2002-09-30 | 2009-05-19 | Canadian National Railway Company | Method and system for generating account reconciliation data |
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| EP0959440A3 (en) * | 1998-05-22 | 2000-05-17 | Citicorp Development Center, Inc. | System and method for automated electronic scrip transactions |
| WO2001022374A1 (en) * | 1999-09-22 | 2001-03-29 | Trintech Limited | A method for the secure transfer of payments |
| EP1087350A1 (en) * | 1999-09-22 | 2001-03-28 | Trintech Limited | A method for the secure transfer of payments |
| KR20020016716A (en) * | 2000-08-26 | 2002-03-06 | 김성호 | Product sales method through loan service |
| KR20020059478A (en) * | 2001-01-06 | 2002-07-13 | 여 성 규 | Method of shortly settlement using internet network |
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| US10445826B1 (en) | 2014-05-26 | 2019-10-15 | Square, Inc. | Merchant financing system |
| US9984412B1 (en) | 2014-05-26 | 2018-05-29 | Square, Inc. | Approaches to location based merchant financing |
| US9786005B1 (en) | 2014-05-26 | 2017-10-10 | Square, Inc. | System and methods for financing merchant business needs |
| US9727912B1 (en) | 2014-05-26 | 2017-08-08 | Square, Inc. | Approaches for merchant financing |
| US10565642B1 (en) | 2014-10-23 | 2020-02-18 | Square, Inc. | Inventory management with capital advance |
| US9836786B1 (en) | 2014-11-13 | 2017-12-05 | Square, Inc. | Intelligent division of funds across merchant accounts |
| US10902512B1 (en) | 2015-01-22 | 2021-01-26 | Square, Inc. | Third party merchant financing |
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| US9773242B1 (en) | 2015-03-19 | 2017-09-26 | Square, Inc. | Mobile point-of-sale crowdfunding |
| US9892458B1 (en) | 2015-03-31 | 2018-02-13 | Square, Inc. | Invoice financing and repayment |
| US9779432B1 (en) | 2015-03-31 | 2017-10-03 | Square, Inc. | Invoice financing and repayment |
| US10453086B1 (en) | 2015-04-01 | 2019-10-22 | Square, Inc. | Individualized incentives to improve financing outcomes |
| US10685342B2 (en) * | 2015-12-03 | 2020-06-16 | Mastercard International Incorporated | Systems and methods for use in routing funds, associated with transactions, to direct-pay accounts |
| CN106886887B (en) * | 2015-12-15 | 2020-10-02 | 阿里巴巴集团控股有限公司 | Method and device for controlling interaction of application data between accounts |
| US10692140B1 (en) | 2017-11-15 | 2020-06-23 | Square, Inc. | Customized financing based on transaction information |
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-
1998
- 1998-06-26 AU AU79885/98A patent/AU7988598A/en not_active Abandoned
- 1998-06-26 CA CA002295615A patent/CA2295615A1/en not_active Abandoned
- 1998-06-26 EP EP98930512A patent/EP0995173A1/en not_active Withdrawn
- 1998-06-26 JP JP2000502484A patent/JP2001509628A/en not_active Withdrawn
- 1998-06-26 EP EP98931616A patent/EP0995174A1/en not_active Withdrawn
- 1998-06-26 CA CA002295613A patent/CA2295613A1/en not_active Abandoned
- 1998-06-26 JP JP2000502485A patent/JP2001509629A/en active Pending
- 1998-06-26 WO PCT/US1998/013293 patent/WO1999003076A1/en not_active Ceased
- 1998-06-26 WO PCT/US1998/013277 patent/WO1999003075A1/en not_active Ceased
- 1998-06-26 AU AU81696/98A patent/AU8169698A/en not_active Abandoned
Cited By (1)
| Publication number | Priority date | Publication date | Assignee | Title |
|---|---|---|---|---|
| US7536325B2 (en) | 2002-09-30 | 2009-05-19 | Canadian National Railway Company | Method and system for generating account reconciliation data |
Also Published As
| Publication number | Publication date |
|---|---|
| WO1999003076A1 (en) | 1999-01-21 |
| WO1999003075A1 (en) | 1999-01-21 |
| EP0995173A1 (en) | 2000-04-26 |
| CA2295613A1 (en) | 1999-01-21 |
| AU7988598A (en) | 1999-02-08 |
| EP0995174A1 (en) | 2000-04-26 |
| JP2001509629A (en) | 2001-07-24 |
| JP2001509628A (en) | 2001-07-24 |
| AU8169698A (en) | 1999-02-08 |
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Legal Events
| Date | Code | Title | Description |
|---|---|---|---|
| FZDE | Discontinued |