Electronic incremental payments

US10535067B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Antonia Stroeh · Stamford, US
• John Doherty, Jr. · Freetown, US
• Alexis Suberville · Brooklyn, US
• Holliday Haynes · Freeport, US
• Stephen Parento · White Plains, US
• Wayne Molitor · O'Fallon, US
• Peter Julian Ramon Antonio R. Flor · O'Fallon, US

Key dates

• Filing date: Jul 1, 2015
• Grant date: Jan 14, 2020
• Expiry date: Feb 27, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/14
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An authorization request for a payment transaction is obtained, from a given one of a plurality of billers, over a payment network having a standard clearing and settlement time period. Via the payment network, a special incremental payments approval authorization request response to the authorization request for the payment transaction is passed, indicating that the given one of the plurality of billers will be paid in connection with the payment transaction in a plurality of incremental payments made in time increments over a selected time period following the authorization request, optionally regardless of whether funds are available for an account associated with the payment transaction. The selected time period is longer than the standard clearing and settlement time period. The payment transaction is not settled until expiration of the selected time period.