Back to results
US 7,689,507 B2Granted
Methods and systems for managing consumer transactional accounts
AssigneeCiticorp Credit Services, Inc.
InventorsKevin K. Hung, Susan R. Moon, Eric H. Yellin, Alice C. Yu
Life of this patent
Estimating the term…
Abstract
Computer-implemented methods and systems for managing consumer transactional accounts provides a temporary line of credit with an installment option that a consumer can use for specific occasions or life events. The account remains open for only a limited period of time during which interest does not accrue. Thereafter, the account automatically expires, interest begins to accrue on the amount charged on the account, and an invoice is sent to the consumer with a number of payment options.
Claims17
A computer-implemented method for managing consumer transactional accounts, comprising:
- receiving information entered by a consumer at a kiosk computer hardware terminal by a first computer software application process executing on a financial institution database computer hardware device in connection with a request for a temporary transactional account for the consumer;
- approving the temporary transactional account for the consumer real time by a second computer software application process executing on a financial institution backend system computer hardware device;
- providing a physical temporary transaction card real time for the consumer by a third computer software application process executing on the kiosk computer hardware terminal;
- accumulating consumer charges by a third computer software application process executing on the financial institution backend system computer hardware device incurred over a pre-determined period of time on the temporary transactional account using the physical temporary transaction card without sending an invoice to the consumer or accruing interest on the temporary transactional account during the pre-determined period of time, and automatically closing the temporary transactional account, sending an invoice to the consumer for the charges incurred on the temporary transactional account during the pre-determined period of time, and commencing accrual of interest on the accumulated charges upon expiry of the pre-determined period of time, wherein said period of time is pre-determined other than by a user-specified time limit on a purchasing session and is at least three months;
- and
- providing the consumer a plurality of options by a fourth computer software application process executing on the financial institution backend system computer hardware device for payment of the charges incurred on the temporary transactional account upon expiry of the pre-determined period of time.
3 more elements
A machine-readable medium on which is encoded program code executable by a computer hardware device for managing consumer transactional accounts, the program code comprising instructions for:
- receiving information entered by a consumer at a kiosk computer hardware terminal by a first computer software application process executing on a financial institution database computer hardware device in connection with a request for a temporary transactional account for the consumer;
- approving the temporary transactional account for the consumer real time by a second computer software application process executing on a financial institution backend system computer hardware device;
- providing a physical temporary transaction card real time for the consumer by a third computer software application process executing on the kiosk computer hardware terminal;
- accumulating consumer charges by a third computer software application process executing on the financial institution backend system computer hardware device over a pre-determined period of time on the temporary transactional account using the physical temporary transaction card without sending an invoice to the consumer or accruing interest on the temporary transactional account during the pre-determined period of time, and automatically closing the temporary transactional account, sending an invoice to the consumer for the charges incurred on the temporary transactional account during the pre-determined period of time, and commencing accrual of interest on the accumulated charges upon expiry of the pre-determined period of time, wherein said period of time is pre-determined other than by a user-specified time limit on a purchasing session and is at least three months
- providing the consumer a plurality of options by a fourth computer software application process executing on the financial institution backend system computer hardware device for payment of the charges incurred on the temporary transactional account upon expiry of the pre-determined period of time.
2 more elements
A computer-implemented system for managing consumer transactional accounts, comprising:
- a first computer software application process executing on a financial institution computer hardware database device that receives consumer information entered by a consumer at a kiosk computer hardware terminal in connection with a request for a temporary transactional account for the consumer;
- a second computer software application process executing on a financial institution backend system computer hardware device that approves the temporary transactional account for the consumer real time by the financial institution;
- a third computer software application process executing on the kiosk computer hardware terminal that provides a physical temporary transaction card real time for the consumer;
- a third computer software application process executing on the financial institution backend system computer hardware device that accumulates consumer charges over a pre-determined period of time on the temporary transactional account using the physical temporary transaction card, without sending an invoice to the consumer or accruing interest on the temporary transactional account during the pre-determined period of time, and automatically closes the temporary transactional account, sends an invoice to the consumer for the charges incurred on the temporary transactional account during the pre-determined period of time, and commences accrual of interest on the accumulated charges upon expiry of the pre-determined period of time, wherein said period of time is pre-determined other than by a user-specified time limit on a purchasing session and is at least three months;
- and
- a fourth computer software application process executing on the financial institution backend system computer hardware device that provides the consumer a plurality of options for payment of the charges incurred on the temporary transactional account upon expiry of the pre-determined period of time.
3 more elements
Dependencies are inferred from the claim text.