Method and apparatus for providing and processing installment plans at a terminal
US6064987A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Oct 7, 1997 |
| Grant date | May 16, 2000 |
| Priority date | — |
| Expiry date | Oct 7, 2017 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A central controller receives from a POS terminal a purchase price and a financial account identifier. The financial account identifier specifies a financial account, such as a credit card account. The central controller, in turn, generates one or more installment plan identifiers defining installment plans for payment of the purchase price. The installment plan identifiers are based on the purchase price and/or the financial account identifier. For example, certain accounts or certain high purchase prices may merit preferred installment plans. The installment plan identifiers are transmitted to the POS terminal. A purchaser at the POS terminal selects whether he would like to pay for his purchase in installments and, if so, using which installment plan. The POS terminal generates a selection signal indicative of whether to accept any of the installment plans, and transmits the selection signal to the central controller. The central controller receives the selection signal. If the selection signal indicates acceptance of any installment plan, use of the accepted installment plan for the financial account is authorized. Thereafter, bills are generated which reflect installment charg…
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.