System and method for implementing frictionless micropayments for consumable services
OwnerJames A. Roberson, William Sprott Greeneinventors
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Abstract
The present invention is directed to a system, method and software program product for implementing a policy payment agent which, based on policy thresholds set by the consumer, determines whether or not to autonomously issue a payment. Initially, the consumer sets the payment policy through the selection of payment parameters such as the type of consumable or transaction, maximum one-time payment amount, and recent spending rate. If the payment request meets the payment policy criteria, then the payment agent autonomously issues a payment. Otherwise, the request is passed to the user for manual intervention.
Claims34
A method for handling payment requests without user intervention by implementing a payment policy comprising:
- retaining payment policy criteria, said payment policy criteria describing the user's consumption persona for authorizing payments from the user, without intervention from the user;
- receiving a payment request from a payment requester;
- accessing the payment policy criteria;
- analyzing the payment request using the payment policy criteria;
- and
- autonomously authorizing a payment based on the analysis of the payment request under the payment policy criteria.
The method recited in claim I above, wherein the payment policy criteria includes a maximum pay out rate threshold and the method further comprises:
- calculating a pay out rate for the user;
- and
- analyzing the payment request using the payment policy criteria further comprises:
- comparing the pay out rate for the user with the maximum pay out rate threshold.
The method recited in claim I further comprises:
- receiving a notification of insufficient available funds to cover a requested payment amount;
- and
- informing the user of the receipt of the notification of insufficient available funds.
A computer program product stored on a computer readable medium for implementing a policy based payment agent for handling payment requests without user intervention comprising:
- instructions for retaining payment policy criteria, said payment policy criteria describing a user's consumption persona for authorizing payments from the user, without intervention from the user;
- and
- instructions for implementing a payment agent comprising:
- instructions for receiving a payment request from a payment requestor;
- instructions for accessing the payment policy criteria;
- instructions for analyzing the payment request using the payment policy;
- and
- instructions for autonomously authorizing a payment based on the analysis of the payment request under the payment policy criteria.
An apparatus for handling payment requests without user intervention by implementing a payment policy comprising:
- retaining means for retaining payment policy criteria, said payment policy criteria describing the user's consumption persona for authorizing payments from the user, without intervention from the user;
- receiving means for receiving a payment request from a payment requestor;
- accessing means for accessing the payment policy criteria;
- analyzing means for analyzing the payment request using the payment policy criteria;
- and
- authorizing means for autonomously authorizing a payment based on the analysis of the payment request under the payment policy criteria.
Dependencies are inferred from the claim text.