Method of providing secure payment and transaction reconciliation
AssigneeStoneEagle Services, Inc.
InventorRobert M. Allen
Life of this patent
Estimating the term…
Abstract
A method of paying a merchant for a transaction associated with a program. The method including the steps of receiving a request from a merchant for a payment associated with a purchase, generating a payment identifier, generating a payment number having a predetermined limit amount and a predetermined expiration date, associating the payment identifier with the payment number and transmitting the payment number to the merchant for payment of the request.
Claims18
A system for payment variance notification on program contracts, wherein the payment variance notification system communicates with program administrators and financial institutions via a network, and wherein the system comprises:
- a memory storing an instruction set and data related to a plurality of authorized program payments;
- and
- a processor for running the instruction set, the processor being in communication with the memory and the network, wherein the processor is operative to facilitate reconciliation and payment deviation notifications to program administrators by the operations of:
- receiving data for the payment authorization from the program administrator computer, the data comprising one or more payment identification elements and a load amount, wherein the combination of payment identification elements uniquely identifies a transaction and forms a first transaction identifier;
- receiving data for the payment transaction from the financial institution computer, the data comprising a second transaction identifier and a payment transaction amount, wherein the second transaction identifier is selected from the group consisting of the first transaction identifier and payment identification number;
- comparing data for the load amount from the program administrator computer and the payment transaction amount from the financial institution computer to check for deviations;
- transmitting notification to the program administrator of deviations between the payment transaction amount and the load amount substantially contemporaneously to the detection of said deviations in the comparing step, the notification comprising the first transaction identifier and the payment transaction amount;
- and
- storing the received data from the bank computer for later dissemination to the program administrator.
A system for exception handling of failed payment-by-fax transmissions, the system comprising:
- a first computer associated with a repository defining a repository computer, the repository computer being associated with an electronic communications network, being positioned to receive payment authorizations from a second computer associated with a program administrator defining an program administrator computer, and being positioned to provide payment by fax to a plurality of third computers associated with merchant accounts, the payment authorizations responsive to payment requests by a merchant, and wherein the first computer comprises:
- a memory storing an instruction set and data related to a plurality of authorized program payments;
- and
- a processor for running the instruction set, the processor being in communication with the memory and the network, wherein the processor is operative to receive payment authorizations from a program administrator and to transmit payment by fax to a plurality of merchants and further where the computer is operative to perform exception handling of failed payment-by-fax transmissions by the operations of:
- receiving data indicative of a failed payment by fax transmission, the received data including a fax number and a transaction identifier;
- transmitting notification of the failed payment by fax transmission to the program administrator, wherein the notification includes the transaction identifier;
- receiving data from the program administrator, the received data including a revised fax number and the transaction identifier;
- retransmitting the payment by fax using the revised fax number.
Dependencies are inferred from the claim text.