Universal funding card and delayed assignment of a funding instrument for a financial transaction

Patent metadata

Field	Value
Publication number	US-10296899-B2
Application number	US-201514940096-A
Country	US
Kind code	B2
Filing date	Nov 12, 2015
Priority date	Dec 28, 2007
Publication date	May 21, 2019
Grant date	May 21, 2019

Abstract

A universal funding card and the delayed assignment of a funding instrument for a financial transaction are described herein. In one embodiment, a system for facilitating a financial transaction comprises a communications interface; a database storing data regarding a user and a plurality of funding instruments associated with that user; and a payment processing system configured to receive a request for payment authorization from a merchant via the communications interface, to authorize payment to the merchant prior to selection of a funding instrument, and after authorizing payment to the merchant, receive instructions regarding a funding instrument to debit for the payment.

First claim

What is claimed is:

1. A method for processing a transaction using a transaction card, comprising:
receiving, from a device, a request to establish an account based on a plurality of funding instruments;
establishing the account based on the plurality of funding instruments;
generating a card identifier for the account; and
loading a service application to the device;
receiving the card identifier associated with the transaction card during a checkout process for the transaction;
determining the plurality of funding instruments associated with the card identifier;
presenting a first request to select one of a first option or a second option through the service application associated with the card identifier, wherein the first option delays assignment of a payment for the transaction to one or more of the plurality of funding instruments, wherein the second option assigns a first one of the plurality of funding instruments to process a first portion of the payment during the checkout process, wherein the second option requires a selection of the first one of the plurality of funding instruments and a selection of an amount for the first portion of the transaction, wherein the second option delays assignment of a second one of the plurality of funding instruments during the checkout process for a second portion of the payment based on at least one of credit worthiness of a user associated with the plurality of funding instruments, a payment history of the user, cash reserves of the user, a total amount of the transaction, and wherein the presenting is performed through a first display of a graphical user interface (GUI) of the service application during the checkout process in response to an entry of the card identifier for the transaction;
in response to receiving a selection of one of the first option or the second option, processing of the payment for the transaction, wherein receiving a selection of the second option causes processing of the payment for the transaction using the first one of the plurality of funding instruments for the first portion of the transaction instead of the account of a payment provider;
subsequent to the processing of the payment for the transaction, automatically assigning a second one of the plurality of funding instruments for a reimbursement transaction to the payment provider for the payment, wherein the reimbursement transaction is processed at a later time;
presenting, after the checkout process and prior to the later time, a second request to change the second one of the plurality of funding instruments to assign to the processed transaction at the later time, wherein the presenting is performed through a second display of the GUI of the service application; and
processing the reimbursement transaction at the later time based on the second request.

2. The method of claim 1 , wherein the second portion is provided using the account of the payment provider.

3. The method of claim 1 , wherein at least one of the plurality of funding instruments is a payment account with the payment provider for a user associated with the plurality of funding instruments.

4. The method of claim 3 , further comprising:
determining that the user is an existing user with the payment provider and the payment account is active with the payment provider.

5. A payment provider system comprising:
a non-transitory memory storing information for a plurality of funding instruments and an account of the payment provider system; and
one or more hardware processors configured to execute instructions to cause the payment provider system to perform operations comprising:
receiving, from a device, a request to establish the account based on a plurality of funding instruments;
establishing the account based on the plurality of funding instruments;
generating a card identifier for the account; and
loading a service application to the device;
receiving the card identifier associated with a transaction card during a checkout process for a transaction;
determining the plurality of funding instruments associated with the card identifier;
presenting a first request to select one of a first option or a second option through the service application associated with the card identifier, wherein the first option delays assignment of a payment for the transaction to one or more of the plurality of funding instruments, wherein the second option assigns a first one of a plurality of funding instruments to process a first portion of the payment during the checkout process, wherein the second option requires a selection of the first one of the plurality of funding instruments and a selection of an amount for the first portion of the transaction, wherein the second option delays assignment of a second one of the plurality of funding instruments during the checkout process for a second portion of the payment based on at least one of credit worthiness of a user associated with the plurality of funding instruments, a payment history of the user, cash reserves of the user, a total amount of the transaction, and wherein the presenting is performed through a first display of a graphical user interface (GUI) of the service application during the checkout process in response to an entry of the card identifier for the transaction;
in response to receiving a selection of one of the first option or the second option, processing of a payment for the transaction, wherein receiving a selection of the second option causes processing of the payment for the transaction using the first one of the plurality of funding instruments for the first portion of the transaction instead of the account of the payment provider system;
subsequent to the processing of the payment for the transaction, automatically assigning a second one of the plurality of funding instruments for a reimbursement transaction to the payment provider system for the payment, wherein the reimbursement transaction is processed at a later time;
presenting, after the checkout process and prior to the later time, a second request to change the second one of the plurality of funding instruments to assign to the processed transaction at the later time, wherein the presenting is performed through a second display of the GUI of the service application; and
processing the reimbursement transaction at the later time based on the second request.

6. The payment provider system of claim 5 , wherein the second portion is provided using the account of the payment provider system.

7. The payment provider system of claim 5 , wherein at least one of the plurality of funding instruments is a payment account with the payment provider system for a user associated with the plurality of funding instruments.

8. The payment provider system of claim 7 , wherein the operations further comprise:
determining that the user is an existing user with the payment provider system and the payment account is active with the payment provider system.

9. The payment provider system of claim 5 , wherein the presenting of the second option is based on at least one of credit worthiness of a user associated with the plurality of funding instruments, a payment history of the user, or cash reserves of the user.

10. The payment provider system of claim 9 , wherein presentation of the second option is further based on a total amount of the transaction.

11. A non-transitory machine-readable medium having stored thereon machine-readable instructions executable to cause a machine to perform operations comprising:
receiving, from a device, a request to establish an account based on a plurality of funding instruments;
establishing the account based on the plurality of funding instruments;
gene

Assignees

• Paypal Inc

Inventors

• Lee George
• Olliphant Hugo

Classifications

• G06Q20/356 Primary

  Aspects of software for card payments · CPC title

• G06Q20/204

  comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit · CPC title

• G06Q20/24

  Credit schemes, i.e. "pay after" · CPC title

• G06Q20/12 Primary

  specially adapted for electronic shopping systems · CPC title

• G06Q20/40

  Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists · CPC title