Centralized payment method and system for online and offline transactions

US8874480B2 · kind B2 · utility

Assignee

• FISERV, INC. · US

Inventors

• Behram Panthaki · Jersey City, US
• Aaron Rudenstine · New York, US
• Jeremy Sokolic · New York, US
• Amir Sunderji · San Jose, US
• Sanjeev Dheer · Scarsdale, US
• Neil Platt · New York, US
• Demetris Papademetriou · New York, US

Key dates

• Filing date: Jun 4, 2012
• Grant date: Oct 28, 2014
• Expiry date: Jun 4, 2032

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Embodiments described herein include an electronic transaction service network (also referred to herein as a centralized electronic transaction (CET) service). According to an embodiment, a financial management system hosts multiple CET web sites on behalf of multiple merchants. All transactions through any CET web site are executed and managed by the financial management system. Merchants may customize their web sites to include a branded look and feel. The merchant web sites are part of a CET service for which a customer can register. Registered customers can then view and pay invoices from any merchants having CET web sites, whether purchases were made online or offline. Customers specify preferences for the CET service including choosing existing customer accounts from which the financial management system is to pay invoices on behalf of the customer. This eliminates the need for the customer to open and fund a separate payment account as in traditional methods.