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US 2014/0207654 A1Published application
Methods, System and Associated Computer Executable Code for Facilitating Credit Transactions
AssigneePay It Simple Ltd.
InventorsGil Don, Alon Feit, Victoria Niel Kraine
Life of this patent
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Abstract
Disclosed is a system and method for Facilitating Credit Transactions, which may allow for the division of a given purchase or cash-withdrawal transaction amount, into periodical installments by enabling the financing of said transaction.
Claims20
A method for facilitating credit based transactions associated with purchase or lease of goods, a service or real estate having a cost, said method comprising:
- receiving over a data network the data indicating the cost of a good or service;
- securitizing over a data network the cost of the transaction against a credit line provided by a primary credit provider;
- funding at least part of the transaction upon securitization;
- intermittently receiving partial payment;
- and
- intermittently re-securitizing an outstanding balance.
3 more elements
A transaction system comprising:
- one or more transaction servers including collective control logic adapted to:
- (1) receive over a data network the data indicating the cost of a good or service;
- (2) securitize over a data network the cost of the transaction against a credit line provided by a primary credit provider;
- (3) fund the transaction upon securitization;
- (4) intermittently receive partial payment from the primary credit provider;
- and (5) intermittently re-securitize an outstanding balance.
3 more elements
Dependencies are inferred from the claim text.