Generation, management and usage of on-demand payment ids
AssigneePaycode Systems, Inc.
InventorsKarl Denzer, William D. Young
Life of this patent
Estimating the term…
Abstract
There is disclosed a method, computer program and system that support purchase transactions at merchants via a Payment ID generated on-demand and funded with a specific consumer-requested amount. The Payment ID, which could include but is not limited to a gift card ID, is then leveraged to complete a transaction at a merchant's point of sale (POS) system via the existing methods and processes inherent in the POS system. Also disclosed are related mechanisms to manage a secure database of Payment IDs and dynamically adjust the value tied to Payment IDs to account for any value due the customer from the merchant or other involved party.
Claims23
A method, comprising:
- receiving, at a central processing system, a request for a payment ID from a consumer;
- retrieving a closed-loop, merchant-specific payment ID from a payment ID database;
- activating the payment ID;
- and
- funding the payment ID on-demand with a specific, consumer-requested amount.
A method, comprising:
- receiving an active, closed-loop payment ID from a central processing system;
- and
- using the active, closed-loop payment ID to complete a payment transaction with a merchant during an active tender process through the merchant's point of sale system by leveraging the existing integration between the merchant and an entity that processes that merchant's closed-loop payment transactions.
A computer-implemented method, comprising:
- receiving a set of rules which govern a merchant's ability or desire to provide a consumer incentive that includes at least one of promotional offers, coupons, discounts, consumer-relevant messages, and price adjustments;
- delivering the consumer incentive to the consumer;
- receiving a funded, closed-loop payment ID from the consumer at the merchant's point of service system, wherein the payment ID was at least partially funded with the consumer incentive and wherein a payment value associated with the payment ID represents a total funding amount requested by the consumer less the consumer incentive.
Dependencies are inferred from the claim text.