System and method for automated debiting and settling of financial transactions
US7376622B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 2, 1999 |
| Grant date | May 20, 2008 |
| Priority date | — |
| Expiry date | Sep 2, 2019 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/40
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for automated settlement and on-line debiting of a financial transaction, such as an emergency-cash transaction, is provided. A bank customer enters a foreign-branch bank and indicates a need for emergency cash. The customer is given a telephone by which the customer communicates with an interactive-voice response system in the customer's language. The system bridges the customer with the customer's home bank, which approves the requested emergency cash. A network in communication with the voice response system and with the issuer automatically initiates an on-line debiting of an account of the customer. The network also initiates and carries out settlement between the acquirer and the issuer by way of settlement accounts.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.