This helps you quickly interpret patents by identifying the three key elements:
Problems solved by technology
Method used
Benefits of technology
Benefits of technology
[0014]It is a further object of the present invention to provide a technique which allows individual bill payment entities to implement consolidated bill payment system with greater efficiency.
[0015]It is a further object of the present invention t
Problems solved by technology
However until recently it was not possible for a consumer, using a computer terminal, to interact with a single payment system capable of paying all the consumer's bills whether by electronic means or by a paper check.
Although the consolidated bill payment system described by Kight, et al. significantly advanced the state of the art, it did not focus on several problems which may arise in implementing a consolidated bill payment system capable of automatically paying consumer bills to merchants.
Developing and implementing a bill payment system has significant costs.
Ultimately, this means that each conventional bill payment system may have hundreds of thou
Method used
the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
View more
Image
Smart Image Click on the blue labels to locate them in the text.
Viewing Examples
Smart Image
Click on the blue label to locate the original text in one second.
Reading with bidirectional positioning of images and text.
Smart Image
Examples
Experimental program
Comparison scheme
Effect test
Example
[0033]FIG. 1 generally depicts a bill payment system including consumer systems (i.e., payors) 8, merchant systems (i.e., payees) 4, source systems 7, a remittance payment processor 5 (RPP) 3, merchant bank systems 5, and consumer bank systems 6.
[0034]A consumer system 8 provides the consumer (i.e. payor) with an interface to the RPP 3 via a source system 7 and typically would be a personal computer located at the consumer's residence, but could possibly be another electronic device such as a phone or specialized box containing bill payment software. A consumer is an individual or other entity, e.g., a corporation, for whom payments are actually made and whose account will be debited by the amount of the payment.
[0035]Source systems 7 represent any computer or network of computers capable of collecting payment requests from one or more consumer systems 8, and may be, for example, a CheckFree processing center 7B, a financial institution processing center 7A, or a third party payment...
the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
Login to view more
PUM
Login to view more
Abstract
A method and apparatus for electronically processing bill payment requests where respective sets of payment requests are received electronically from a plurality of independent sources, each set of payment requests corresponding to an associated set of payors requesting payments to a plurality of payees. The payment requests are processed at a single remittance processing system having a database including payee information for each of the plurality of payees to generate payment directions for paying the plurality of payees in accordance with the processed payment requests.
Description
CROSS REFERENCES TO RELATED APPLICATIONS[0001]The present application is a continuation of co-pending U.S. patent application Ser. No. 09 / 010,193, filed Jan. 21, 1998, and entitled DUAL SOURCE REMITTANCE PROCESSING, the contents of which is incorporated by reference herein in its entirety. Additionally, the present application is related to U.S. patent application Ser. No. 08 / 994,047, filed Dec. 19, 1997, and entitled AN ELECTRONIC BILL PAYMENT SYSTEM WITH MERCHANT IDENTIFICATION (now U.S. Pat. No. 7,296,004); U.S. patent application Ser. No. 08 / 994,046, filed on Dec. 19, 1997, and entitled “AN ELECTRONIC BILL PAYMENT SYSTEM WITH ACCOUNT NUMBER SCHEMING” (now U.S. Pat. No. 6,327,577); and U.S. patent application Ser. No. 08 / 994,363, filed on Dec. 19, 1997, and entitled “AN ELECTRONIC BILL PAYMENT SYSTEM WITH ACCOUNT RANGING” (now abandoned).TECHNICAL FIELD[0002]The present invention relates to electronic commerce. More particularly, the present invention relates to an improved elect...
Claims
the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
Login to view more
Application Information
Patent Timeline
Application Date:The date an application was filed.
Publication Date:The date a patent or application was officially published.
First Publication Date:The earliest publication date of a patent with the same application number.
Issue Date:Publication date of the patent grant document.
PCT Entry Date:The Entry date of PCT National Phase.
Estimated Expiry Date:The statutory expiry date of a patent right according to the Patent Law, and it is the longest term of protection that the patent right can achieve without the termination of the patent right due to other reasons(Term extension factor has been taken into account ).
Invalid Date:Actual expiry date is based on effective date or publication date of legal transaction data of invalid patent.
Login to view more
IPC IPC(8): G06Q40/00
CPCG06Q20/102G06Q40/02G06Q30/04G06Q20/14
Inventor GARRISON, DAVID LEEKIGHT, PATRICIA A.PERKINS, BRADWARD, CHERYL LYNNLAWSON, MARY ELIZABETHKERIN, AMY LYNN
Login to view more 
Login to view more