Systems and/or methods for simplifying payment systems, and payment instruments implementing the same
AssigneeAdvanced Payment Products, LLC
InventorJoseph A. Giordano
Life of this patent
Estimating the term…
Abstract
The exemplary embodiments described herein relate to systems and/or methods for simplifying payment systems, and payment instruments implementing the same. In particular, certain exemplary embodiments relate to a single payment device (e.g., a card) with multiple magnetic strips, a single payment device being linked to multiple accounts, a single payment device having a button required before transmission of payment information, and/or a single payment device being linked to a sub-account (e.g., a petty cash account).
Claims20
A payment instrument comprising a card on which at least two account identifiers are disposed, each said account identifier being disposed proximate to an edge of the card.
A product system operable to route a transaction in dependence on a payment type selected by a user at a point-of-sale after the user presents a single payment instrument at the point-of-sale, wherein:
- when the payment type is indicative of a credit transaction, the product system is configured to route the transaction by posting the transaction to a billing system as a credit card transaction;
- and,
- when the payment type is indicative of a debit transaction, the product system is configured to route the transaction by identifying a debit account and a bank associated with the debit account and debiting the identified debit account in accordance with procedures of the identified bank.
A method of routing a payment transaction, the method comprising:
- receiving a payment type at a point-of-sale;
- and,
- routing the payment transaction in dependence on the selected payment type;
- wherein
- when the selected payment type is a credit, posting the payment transaction to a billing system as a credit card transaction;
- and,
- when the selected payment type is a debit:
- identifying a debit account and a bank associated with the debit account;
- and,
- debiting the identified bank account in accordance with procedures of the identified bank.
A method of routing a payment transaction initiated by a user at a point-of-sale, the method comprising:
- receiving details of the payment transaction from a point-of-sale system;
- determining whether the payment transaction details match one or more criteria specified by the user in advance of the payment transaction;
- and,
- when there is a match, charging a sub-account of a main account associated with a payment instrument presented by the user at the point-of-sale, and
- when there is not a match, charging the main account associated with the payment instrument presented by the user.
A payment instrument associated with an bank account, comprising:
- a transmitter for wirelessly transmitting information about the bank account to a point-of-sale system to complete a payment transaction, and
- transmission enabling logic circuitry having a first state indicative of enabled transmission and a second state indicative of disabled transmission;
- wherein the transmitter is configured to transmit the bank account information in dependence on the state of the transmission enabling logic circuitry.
Dependencies are inferred from the claim text.