US 2012/0072306 A1 · Payment Service Provision With Reduced Transaction Costs

Abstract

A method for providing on-line payment services is provided where a payment service provider pays for a plurality of purchases that are made by a user during a plurality of on-line shopping sessions. An authorization is received for the payment service provider to collect a reimbursement amount from a financial institution of the user. The reimbursement amount is at least equal to a cumulative amount of the payments for the plurality of purchases made by the user during the plurality of on-line shopping sessions. The payment service provider collects the reimbursement amount in a single transaction from the financial institution of the user and pays a fee to the financial institution of the user. The fee is based on the single transaction carried out to collect the reimbursement amount rather than being applied to each of the plurality of purchases or assessed as a percentage of the reimbursement amount, which allows the payment service provider to reduce the costs associated with providing payment services.

Claims20

Dependent claims

A method for providing on-line payment services, comprising:

paying, by a payment service provider over a network, for a plurality of purchases that are made, by a user through at least one user device over the network, during a plurality of on-line shopping sessions;
receiving, by the payment service provider from the user through the at least one user device over the network, an authorization to collect a reimbursement amount from a financial institution of the user, wherein the reimbursement amount is at least equal to a portion of a cumulative amount of the payments for the plurality of purchases made by the user during the plurality of on-line shopping sessions;
collecting the reimbursement amount in a single transaction, by the payment service provider from the financial institution of the user over the network;
and
paying a fee, by the payment service provider to the financial institution of the user over the network, that is based on the single transaction carried out to collect the reimbursement amount.

2 more elements

A machine-readable medium comprising a plurality of machine-readable instructions which, when executed by one or more processors of one or more servers, are adapted to cause the one or more servers to perform a method, comprising:

paying for a plurality of purchases that are made by a user during a plurality of on-line shopping sessions;
receiving an authorization to collect a reimbursement amount from a financial institution of the user, wherein the reimbursement amount is at least equal to a portion of a cumulative amount of the payments for the plurality of purchases made by the user during the plurality of on-line shopping sessions;
collecting the reimbursement amount in a single transaction from the financial institution of the user;
and
paying a fee to the financial institution of the user that is based on the single transaction carried out to collect the reimbursement amount.

2 more elements

Dependencies are inferred from the claim text.

Payment Service Provision With Reduced Transaction Costs

Life of this patent

Payment Service Provision With Reduced Transaction Costs

Life of this patent

Abstract

Claims20