123 results about "Funding source" patented technology

A surrogate system for the transparent control of electronic commerce transactions is provided through which an individual without a credit card is enabled to shop at online merchant sites. Upon opening an account within the surrogate system, the account can be funded using numerous fund sources, for example credit cards, checking accounts, money orders, gift certificates, incentive codes, online currency, coupons, and stored value cards. A user with a funded account can shop at numerous merchant web sites through the surrogate system. When merchandise is selected for purchase, a purchase transaction is executed in which a credit card belonging to the surrogate system is temporarily or permanently assigned to the user. The credit card, once loaded with funds from the user's corresponding funded account, is used to complete the purchase transaction. The surrogate system provides controls that include monitoring the data streams and, in response, controlling the information flow between the user and the merchant sites.

An application on user's mobile device (having a display screen) generates a transaction-specific barcode on the display, where the barcode contains a plurality of funding sources for the transaction and/or merchant loyalty, reward, or membership numbers. The barcode can be scanned to make purchases at a point of sale (POS).

Methods and systems for facilitating transactions between commercial banks and pooled depositor groups are disclosed. Employees of a control center determine interest rate return needs of pooled depositor groups, such as trust departments at commercial banks. The control center employees aggregate the funds to produce a stable funds source and communicate the availability of the stable funds source to commercial banks for core deposits. The commercial banks communicate cash needs to the control center. The control center sets an interest rate to be paid to the pooled depositor groups for use of the funds to at least the depositor groups' expected rate of return and below and the rate that commercial banks are willing to pay for the funds. The banks post master NOW accounts and the pooled depositor groups deposit funds in the master NOW accounts. The pooled depositor groups are allowed to access the funds in the master NOW accounts on a daily basis without penalty. The commercial banks have access to a stable source of funds that banking regulators may permit to be treated as core deposits.

An Internet based bill payment system and method is provided that allows a consumer to push payments and/or information to any payee from the consumer's credit card account. One embodiment of the invention allows the customer to make a payment to any payee from an enterprise credit card or any other credit account of the enterprise, referred to as “Bill Pay advance.” One embodiment of the invention is provided which allows an enterprise's consumer credit card customers to sign up for and use the enterprise's bill pay advance system, whether or not the consumer has a demand deposit account (DDA) account. The invention allows the customer to designate either source of funds for payment and for any payee they choose to pay. One embodiment of the invention offers an interchange push methodology with customer choice of the payment source of funds and intelligent routing.

Embodiments of systems, methods, and machine-readable media are disclosed for enabling a mobile device having near-field communication (NFC) capabilities to be used as fare media at access control points of a transit system. Embodiments can include receiving a request for activation information from the mobile device to enable the device to transmit an identification code using NFC capabilities. Embodiments further include associating a funding source with the identification code and transmitting the activation information to the mobile device. The identification code can then be transmitted from the mobile device to an access control point, and a determination of whether to allow or deny passage of a user at the access control point can be made. The determination can be based, at least in part, on whether the identification code is included on a list. A transaction can then be associated with the identification code; and a value of the transaction can be reconciled with the funding source.

A user is able to change one or more payment options after payment has already been made to a merchant. A payment provider processes a payment request during a transaction with the merchant with default or selected payment options. After the transaction with the merchant is completed and the merchant has been paid, the user may change one or more of the payment options, such as funding source(s) and terms/conditions of payment (e.g., deferment period, installment period/amount, etc.). During the transaction, the user may make a purchase through the payment provider even if the user does not have an account with the payment provider by providing user information, such as name, address, phone number, email address, and date of birth, but not a social security number or funding source information.

Exemplary embodiments for detecting electronic payment card fraud include receiving real-time payment card transaction data from ingress channels and an egress channels of at least one payment card system through a first application programming interface (API); generating transactional profiles for each of at least payment cards, the ingress channel, the egress channels, and funding sources of the payment cards; in response to receiving transaction data for a current payment card transaction, evaluating the transaction data using a predictive algorithm that compare the transaction data to the transactional profiles to calculate a probabilistic fraud score for the current transaction; evaluating the probabilistic fraud score and the current transaction data based on a set of rules to generate a recommendation to approve, decline or review the current transaction; and transmitting the recommendation back to the payment card system via a second API.

Systems and methods are provided to facilitate donations via mobile communications. In one aspect, a system includes a data storage facility and an interchange having a common format processor and a plurality of converters to interface with a plurality of different controllers of mobile communications. The converters are configured to communicate with the controllers in different formats and with the common format processor in a common format. For a payment to a merchant, the common format processor provides a user interface configured to present charity donation options in response to a phone number being specified in the user interface to identify a fund source. The common format processor uses one of the converters to communicate with a mobile phone at the phone number to confirm the payment to the merchant and a donation to a separate charity organization specified via the user interface.

A method and a system for providing a payment cardholder with multiple funding source options for a payment card are provided herein. First, a managing platform associates at least two funding sources with the payment card. The funding sources include a first funding source and a second funding source. Next, the first funding source is designated as a default funding source and a set of pre-defined routing rules for funding transactions made with the payment card. Then, the managing platform intercepts each transaction of the payment card and routes the transactions to an issuer funding system for the first funding source using the managing platform.

The present invention relates to a method and system for providing payments over a wireless connection. Instant messaging services—such as mobile text messaging—addressed to a command interpretation and processing system are utilized in conjunction with a checkout procedure on a mobile device to enable a user making a payment to simply define and confirm the amount of his or her payment, and the recipient. The checkout procedure can be completed with SMS, Mobile Web, Mobile App or IVR implementation. Previously Registered as well as new unregistered users are supported. The payer, through his or her mobile device, interacts with a system for managing mobile payment transactions that validates the sender and recipient of the funds, the presence of funds in a transacting account and other fraud management and authentication checks, and effects a settlement. The Sender may chose a variety of funding sources to fund the transaction, while the recipient can receive the funds on a debit or credit account, or immediately in a demand deposit account of their choice. In one embodiment of the present invention the system is used to pay for purchases of goods and services. In another embodiment of the present invention, the system is use to provide donations to charities.

A system and/or method may be provided to authenticate a user based on the user's location history. In particular, the user's past locations and movements may be detected at the user's mobile device. Information with regard to the user's movements and location may be collected and analyzed to determine certain routines, such as locations frequently visited or routes frequently taken. When a payment request is made from the user's mobile device, the mobile device's recent location history may be compared with the routines of the user. A confidence score may be generated based on the user's recent location history. The confidence score may be used to authenticate the user for the payment request. In an embodiment, the confidence score may be used to determine the transaction fee for using a certain funding source, such as a credit card.

A method comprises the steps of: receiving, at a host computer, a request from a provider for payment for a charge incurred by a purchaser; identifying a plurality of funding sources of the purchaser from which to draw funds for payment of the charge; and causing at least one of the plurality of funding sources to be debited for at least a portion of the purchasing amount of said item based on said payment authorization.

A method of recommending a business for investment receives information about an investor from a crowd funding source. The method creates a group of investor data from the information about the investor. The group of investor data corresponds to a profile of the investor. The method also receives information about a plurality of businesses and creates groups of business data from the information about the plurality of businesses. Further, the method determines a plurality of relationship values. The relationship values are based on the group of investor data and the groups of business data. Each relationship value corresponds to a relationship between the investor and a unique business. The method selects a business for an investment recommendation based on the relationship value between the investor and the business.

A method comprises the steps of: receiving, at a host computer, a request from a purchaser for payment authorization for a charge for an item; determining whether said item qualifies for payment of a discounted amount of the item charge; receiving at the host computer a request from a provider for payment of the item charge; identifying a funding source of the purchaser from which to draw funds for payment of the item charge; and causing the funding source to be debited for at least a portion of the discounted amount of the item charge based on the payment authorization.

In certain embodiments of systems and methods for conducting payment transactions between a payer and a payee, the payer selects one or more payment sources from various funding sources and accounts available to the payer, and instructs a payment broker's server to perform payment authorization and/or payment routing and clearing services on the payer's behalf. The payment broker's server notifies the payer and/or the payee of the payment authorization status and, if approved, instructs the funding source to send the payment to or for the payee without divulging the payer-selected funding source or account to the payee.

A user traveling abroad may decide to make a purchase transaction from a merchant, or exchange cash to foreign currency, or withdraw foreign currency from a funding source of the user. A service provider server may determine exchange rates and transaction fees for different funding sources of the user and/or at different currency exchange locations. The service provider server may further suggest a particular funding source and/or a currency exchange location. The user may conveniently make an informed decision regarding which currency exchange location to go to and which funding source to use. After the trip, the user may have leftover foreign currency. The user may exchange the foreign currency for credit in a restricted account that can be used to make purchases but cannot be cashed out. The credit may be converted to domestic currency and may conveniently be used to make purchases.

A system to allocate resources via information technology infrastructure is described. A server includes processors to provide to a plurality of devices, an electronic benefits account transaction application programming interface (“API”) configured to receive transaction requests from a plurality of heterogeneous electronic funding sources. The server can receive a request to initiate a single transaction to fund an electronics benefit account. The server can transmit data in an alert format indicating a denial of the single request responsive to a comparison of a value to one or more threshold limits.

Methods of systems of opening an account with a financial institution. One method can include electronically receiving account application information over at least one network. The account application information includes personal information associated with a customer requesting to open an account. The method also includes processing the account application information to assess a first risk to the financial institution of opening the account for the customer and electronically receiving funding source information. The funding source information specifies at least one of an existing credit card account and an existing debit card account. In addition, the method includes processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account. The method further includes electronically transferring funds to the account from at least one of the existing credit card account and the existing debit card account based on at least one of the first risk and the second risk.