System and method for reusing payment authorizations
US8401970B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 29, 2010 |
| Grant date | Mar 19, 2013 |
| Priority date | — |
| Expiry date | Dec 29, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Various embodiments may include a payment management system including an authorization reusability component. The payment management system may be configured to, subsequent to a customer providing payment information for an order, receive a payment authorization that indicates funds of an account associated with the customer have been reserved as a form of payment for a given transaction associated with the order. The payment management system may be configured to assign the reserved funds of the payment authorization to the given transaction. The payment management system may be configured to, subsequent to assigning the reserved funds, reassign at least some of the reserved funds of the authorization to a one or more other transactions. The payment management system may be configured to initiate a settlement of the one or more other transactions, the settlement including the reserved funds reassigned to the one or more other transactions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.