System and method for making purchase payments after payment failures

A server for managing payment rescheduling associated with a loan of a buyer to be repaid via a financial source associated with the buyer, the server comprising:

• a memory storing a rule table and program instructions;
• a high-speed communication interface operably coupling the server to an external communication port to enable the server to communicate with external devices including a buyer computing device and a financial source computing device via wired or wireless communication;
• and
• a processor configured to execute the program instructions and manage message processing for inbound and outbound messages via the high-speed communication interface,
• wherein the program instructions, when executed by the processor, configure the server to:
• receive an inbound message from the financial source computing device providing notice of a failed payment on a failure date, the failed payment being a scheduled payment from the financial source associated with the loan,
• determine whether a payment retry condition is satisfied,
• determine a payment retry date based on the rule table in response to the payment retry condition being satisfied, and
• communicate the payment retry date as an outbound message to the buyer computing device via the external communication port,
• wherein the payment retry date is determined based on comparing a recurring predetermined preferred payment date to the failure date and selecting a next instance of the recurring predetermined preferred payment date that is greater than a minimum delay period from the failure date,
• wherein the outbound messages include a message provided to the buyer computing device to direct the buyer computing device to display a retry cancel button, the retry cancel button being selectable by the buyer to cancel the payment retry date.