DE112013004894T5 - A method, system and associated computer executable code for arranging credit transactions - Google Patents

Abstract

What is shown is a system and method for arranging credit transactions, which allows for the distribution of the amount of a given purchase or cash payment transaction into periodic installments by facilitating the financing of said transaction.

Description

Field of the invention

 The present invention relates generally to the field of financial credit transactions. More particularly, the present invention relates to a system and method for providing financial credit rates.

Background of the invention

Most Western civilization people spend a considerable amount of their time and money on buying products and services. While they fulfill this "buying function", they are called consumers. The usual and logical perception is that a consumer must have financial means, namely "enough money in the bank" or another place to buy the goods or services you want, no matter if they are everyday needs, Assets, gifts, travel, etc.

 Several consumer and buying mechanisms are common. Some of these go back to the beginning of history, allowing consumers to buy goods and services without necessarily having the resources they need at the time of purchase. Instead, they use money they do not own to finance the purchase and pay it back later.

• – Bankdarlehen;
• – Hypotheken;
• – Anmietungen (Mietwagen, usw.); und
• – Revolvierende Kreditkartenpläne, die Verbrauchern gestatten, ihre Kreditkartenausgaben nach und nach zu bezahlen (sie zu erneuern).

A few such current funding plans are:

• - bank loans;
• - mortgages;
• - rentals (rental cars, etc.); and
• - Revolving credit card plans that allow consumers to gradually pay (renew) their credit card payments.

 Obviously, these and other financing procedures are not free. Consumers will normally be charged financing fees by the institution or institution providing the funds that make the purchase possible, in addition to the purchase cost.

 Quite often, such financing mechanisms are even used by consumers who have sufficient immediate resources, but prefer not to spend them on current purchases and thereby control their cash flow, as all business firms do.

• – Eine künftige Ausgabe wird erwartet und benötigt verfügbare Mittel;
• – Der aktuelle Einkauf, für den ein „Kredit“ aufgenommen wird, übersteigt das periodische Budget / Gehalt des Verbrauchers;
• – Das Geld wurde investiert und kann nicht verwendet werden; und
• – Emotionale / psychologische Motive (z.B.: finanzielle Sicherheit).

Possible reasons for such behavior include:

• - A future edition is expected and needs available funds;
• - The current purchase, for which a "credit" is taken, exceeds the periodic budget / salary of the consumer;
• - The money was invested and can not be used; and
• - Emotional / psychological motives (eg: financial security).

• – Finanzierung zur allgemeinen Verwendung:
• – Kreditkartenaussteller (revolvierende Kreditkonten, usw.);
• – Finanzinstitutionen: Banken usw. (Darlehen); und
• – Ratenkredite.
• – Spezielle Finanzierung:
• – Hypothekenbanken;
• – Mietwagenfirmen / andere Vermietungsfirmen; und
• – Händler oder Dienstleister.

The financing solutions are provided by a variety of sources. Some provide a loan for general use that is not associated with a specific purchase, and others associate the "loan" with a specific purchase / product / service. For example:

• - Funding for general use:
• - credit card issuers (revolving credit accounts, etc.);
• - financial institutions: banks, etc. (loans); and
• - installment loans.
• - Special financing:
• - mortgage banks;
• - Car rental companies / other rental companies; and
• - dealer or service provider.

Revolving credit card loans

 The revolving funding is a common worldwide credit card industry solution of general-purpose loans. In the revolving process, a cardholder can decide how much of his monthly credit card spending he would prefer to push (within certain limits) to the next month.

 The financing cost of such funding is an annual percentage derived from the central bank's interest rate. This is not fixed and is usually well above the interest rate of the central bank.

• – Leugnen des Kaufs;
• – Schließen des Kontos; oder
• – „Verschwinden“.

One reason for the high revolving annual percentages is in the "risk" institutions (credit card issuer / banks) that provide such loans: A cardholder can try in various ways to avoid some or all future payments if the product or service actually does already be:

• - denying the purchase;
• - closing the account; or
• - "Disappear".

In such cases, the lending institutions are exposed to unplanned costs and thus the loss of money.

The revolving mechanism is common in the US consumer credit market due to the popularity of credit cards as a monetary instrument (more than 150 million cards in 2006), where more than 60% of cardholders use revolving credit facilities on their cards.

 Once a consumer has been granted a credit line (usually by prior approval), he can use a revolving credit card mechanism easily and immediately at any time for any purpose. However, this carries one of the most expensive consumer interest rates. In 2006, the credit card revolving system in the US alone had approximately $ 826.6 billion in debt, compared to $ 1,526.4 billion in non-revolving credit (eg home loan) loans, most of which are not through credit cards respectively.

 Americans are accustomed to using non-revolving credit for quality products such as cars, campers, training, boats or vacations. These are usually funded by the manufacturers or financial institutions in fixed monthly installments.

renting

Rental credits are available in the U.S.A., but are mostly limited to special high-priced purchases, such as cars, homes, and boats, are provided directly by the merchant and are firmly associated with the desired consumer product, i. it is a "special purchase" loan.

 In this case, the purchased product is registered as the recipient of the granted loan. The annual percentages of such loans vary between industries and are usually below the annual percentage of revolving credit cards. This type of loan is usually not granted in advance, as in the case of revolving credit card accounts.

Summary of the invention

According to some embodiments of the present invention, the consumer may be considered as part of a transaction between a merchant and a buyer of goods or services or financial services or real estate or leasing services and / or a lessor of goods, services and / or real estate, etc. (hereinafter referred to as "consumer"). or "Customer") means dividing the costs or payments requested by the Customer in connection with the transaction into a series of partial repayments or installments so that the full transaction costs can be distributed among this series of partial repayments. These partial repayments are spread over a period of time and occur periodically. One or more credit providers may make a full or partial payment for the transaction to the trader on behalf of the consumer, on the condition that the consumer repay the full amount of the transaction along with financing charges using periodic partial redemptions, a large part of which outstanding repayment balance can be securitized continuously through a periodic re-securitization mechanism. According to some embodiments, the one or more credit providers executing a transaction in connection with the payment on behalf of the customer may be secondary credit providers who can securitise an outstanding repayment balance with a loan provided by a primary credit provider ( eg credit card issuer, credit card issuing bank, credit union or Volksbank etc.).

 An agreed schedule for the series of partial repayment amounts during an agreed period may be termed a repayment schedule and may be predefined or predetermined. According to further embodiments, the repayment schedule (e.g., periodic repayment date, repayment period, repayment amount, etc.) may be selected by the consumer, for example, during the transaction or purchase. According to still further embodiments, the repayment schedule may be changed or restructured after the transaction or purchase date (eg, deferred repayments-extending the period between repayments, accelerated repayments-shortening the period between repayments, repayment date-time interval-changing the month date, repayment amount, etc.). ). The re-securitization can be performed automatically in conjunction with the repayment schedule.

The present invention is a system and method for switching a transaction. According to some embodiments of the present invention, the consumer may be considered part of a transaction between a merchant and a consumer / customer of goods and / or services and / or funds (eg, cash) deposited at or through an access point (eg, online, point of -Sale, mobile point of sale, automatic teller machine and / or a communication device, such as a mobile phone or an accessory of the same and / or another today known or future developed access point) is made, the distribution of transaction costs in a number of Payments / installments by which the costs exceed a certain Period are distributed. The said series of payments and said period may be predefined or predetermined.

 According to some embodiments of the present invention as part of a cost split in installments, a consumer of goods and / or services and / or funds (e.g., cash) may request that a secondary credit provider pay the merchant for the purchased goods and / or services. The said secondary credit provider may be a third party willing to finance said transaction (e.g., a financial institution, the dealer itself). According to further embodiments, there may be a party that organizes the payment by installments and by using the transaction system described hereafter (e.g., an independent third party, a merchant, a secondary credit provider, a primary credit provider).

 In accordance with some embodiments of the present invention, the secondary credit provider may provide the consumer with repayment terms (e.g., monthly payments / installments) for the principal amount to be paid by the secondary credit provider and / or the financing charges (e.g., interest or other type of fees). The secondary credit provider may securitise the amounts to be paid to the merchant with a credit line provided to the consumer by a primary credit provider (e.g., credit card company).

Simultaneously with or prior to payment to the merchant, the sponsoring party (e.g., the secondary credit provider) may request from the primary credit provider a credit approval for the remaining sums due, including financing charges (e.g., interest, commission, other additional fees and possible fines).

 In accordance with other forms, the following types of money costs / fees / transactions may be securitized: the actual cost of the transactions; the financing fees (e.g., as indicated above); any additional fees, fines and / or penalties associated with the secondary credit; Payments for damage caused to the goods, real estate and so on; Payment of fees, fines and / or fines in connection with the basic transaction; Payment of taxes, insurance and / or other payments in connection with the basic transaction; Payments of fees and fines in connection with the organization of the secondary loan, with the organization of the payment by installments, with the organization of the use of the transaction system described hereafter and so on.

 According to still further embodiments, the various costs, fees, penalties, and / or compensations may be divided into installments (installments) according to various algorithms, including but not limited to the following cases: (i) each installment has the same amount; (ii) the entire amount of multiple fees or charges is included in the first installment; (iii) the distribution of all the above costs by virtually the same algorithm in a manner substantially similar to the distribution of interest rates in many real estate loans; (iv) the costs, indemnities, fees and penalties associated with termination / dissolution / termination of the lease become part of the additional installments; (v) the costs, indemnities, fees and penalties associated with the premature termination of a transaction are added to the current installment or installments; (vi) the costs, indemnities, fees and penalties are added to the securitized amount on the basis of algorithms that take into account probabilities, consumer profile and other related considerations.

 According to some embodiments of the present invention, the secondary credit provider may request a partial payment of the approved credit from the primary credit provider based on the agreed repayment terms between the secondary credit provider and the consumer.

As each credit approval expires either within a predefined period of time or on the basis of an action, the secondary credit provider can re-certify a remaining balance owed to him by the consumer by periodically requesting the loan approval for the remaining balance.

 In accordance with some embodiments of the present invention, the above re-securitization and remittance cycle may be repeatedly executed until all due payments have been transferred to the secondary credit provider. If the re-securitization does not occur, said secondary credit provider may request the primary credit provider to transfer to him the full balance left by the consumer based on the most recent loan securitization previously made.

According to some embodiments of the present invention, cost-associated methods and systems for switching credit-based transactions associated with the Purchase of goods, services or real estate provided. According to some embodiments of the present invention, data indicating the cost of the goods or services may be received over a data network. Then, the cost of the transaction can be securitized over a data network using a credit framework provided by a primary credit provider. After securitization, a secondary credit provider can finance the transaction. The secondary credit provider may periodically receive a partial payment of the transaction costs while periodically repricing an outstanding transaction balance.

 According to some embodiments of the present invention, a transaction system may include one or more transaction servers, including collection control logic that is adapted to: (1) receive data indicating the cost of the goods or services over a data network; (2) securitizing the cost of the transaction over a data network using a credit line provided by a primary credit provider; (3) financing the transaction after securitization; (4) the periodic receipt of a partial payment from the primary credit provider; and (5) the periodic rewrite of an outstanding balance.

 According to some embodiments, a transaction between a merchant and a customer may include the merchant providing goods, services, real estate, rental services, financial services, and / or a combination thereof to the customer. The transaction may be a conventional merchant transaction, an online transaction, a mobile transaction, and / or any other type of transaction that is known today or is being developed in the future.

 According to some embodiments, the merchant may be a commodity merchant and / or service provider, such as: (1) financial services, (2) banking services, (3) rental services, (4) communications services, (5) medical services, ( 6) travel services, (7) money exchange services or other goods or services. The merchant may notify the customer (1) at a manned point-of-sale (eg at a cash register), (2) through an automated device (eg, a product dispenser, an automated teller machine, etc.), (3) through e-commerce Internet site or via a point-of-sale internet application and / or (4) provide goods, services, cash or real estate via a mobile trading system. According to some embodiments, a customer can set up auxiliaries or the availability of a transaction payment by the secondary lender (secondary credit provider) either during or before a given transaction. As part of establishing a payer agreement with a secondary lender, the customer may provide personal and financial information including: (1) name, (2) address, (3) an identification number (eg, social security number), and (4) one or more identifiers of primary Lender accounts (eg, credit card accounts) that enable the secondary lender to securitise payments made or other consideration that the secondary lender provides on behalf of the client.

 According to some embodiments of the present invention, a consumer of goods and / or services and / or funds (eg, cash) may use a payment mechanism or token, such as a payment card or an online payment, as part of sharing the transaction costs / amounts on installments. Payment application provided by a secondary credit provider.

The use of the secondary credit provider payment mechanism may cause the secondary credit provider to (1) authenticate details of the transaction; (2) to examine the availability of one or more credit lines sufficient to cover the transaction amount, and (3) depending on (1) and (2), to pay the dealer some or all of the cost of the purchased goods and / or services , The secondary credit provider may be a third party willing to finance the said transaction (e.g., pay the dealer).

 In accordance with some embodiments of the present invention, a partial payment of the transaction costs may be accepted either by the primary credit provider, or directly by a buyer of the goods or service, or by other persons and / or organizations in the name of such a buyer. Furthermore, the cost of such a transaction may be accepted in one of the ways mentioned above or a combination thereof. In accordance with some embodiments of the present invention, the secondary credit provider may receive the full balance payment from the primary credit provider or a re-securitization from the same primary credit provider or other accounts of the consumer or other persons 'or organizations' accounts from other credit providers (after previous or present Instruction of the consumer and prior or existing consent of such individuals and organizations).

In accordance with other forms, the installment payments (installments) may be made by bank transfer or another account of the purchaser, by check or bills issued to the buyer's bank account or other account, as a "bank check" - one Checks issued on the bank's credit and / or general credit, by debit card, credit card, security, cash, bank transfer, token, electronic payments (including via the internet), by electronic means Payment of tokens (eg, "Internet money"), and / or other methods that are currently known or will be developed in the future, are accepted by the buyer. An account, a debit card, a credit card, and so on does not necessarily mean an account or a debit / credit card of the buyer, but may refer to any account, debit / credit card, and the like of other persons or organizations.

 In accordance with other forms, a revolving credit with securitization may be used to pay rent, to pay for goods and / or services, or to pay for real estate. In addition, such procedures may be used to securitise periodic payments (eg, timed installments such as monthly payments), for damages for rented buildings or other compensation, to pay various fines, fees and penalties associated with the loan, to pay various fines, fees and penalties in connection with the underlying transaction, including various fees, fines and penalties in connection with termination or termination of the lease, and / or for the costs of taxes, insurance, municipal payments and so on, which are related to the underlying transaction , be used. According to some formulations, the revolving credit with securitization may allow the buyer to avoid: bank guarantees, prepayments for a securitization deposit, cleaning fees, advance payments for multiple rental periods / months, a down payment for keys, advance payments for possible damages and / or advance payments for insurance, taxes and / or municipal payments and other advance payments.

U.S. Patent 8,290,864 which is co-owned by the Applicant, is hereby incorporated by reference in its entirety.

Brief description of the example illustrations

The subject matter considered as invention will be particularly emphasized and clearly claimed in the concluding part of the specification. However, the invention, both as to its organization and method of operation, together with the objects, features and advantages thereof, may best be understood by reference to the following detailed description when read with the accompanying examples in which:

FIG. 5 is a flowchart describing the phases and steps of an example method for arbitrating rate transactions according to some embodiments of the present invention; FIG.

is a table describing the modules of an example system for arranging transactions according to some embodiments of the present invention;

FIG. 4 is an image of payment processing of an example transaction according to some embodiments of the present invention; and at

FIG. 5 is a table describing the modules of an example system for arranging transactions, including a consumer interface module, a merchant interface module, and the interface module of a primary credit provider in accordance with some embodiments of the present invention; and at the

- FIG. 3 illustrates various example securitization scenarios of primary credit providers created by an example system for arranging transactions in accordance with some embodiments of the present invention.

Description of the invention

In the following detailed description, numerous specific details are set forth in order to provide a thorough understanding of the invention. However, it will be understood by those skilled in the art that the present invention may be practiced without these specific details. In other instances, well-known methods, methods, components and cycles have not been described in detail so as not to obscure the present invention.

If there are no specific statements to the contrary than those shown in the following discussion, we will be grateful if, during the specification discussion, the reader uses terms such as "processing", "calculation", "calculation", "determination" or The invention relates to the act and / or method of a computer or computing system or similar electronic computing device or a person operating such a device that displays data that is physically displayed, such as electronic data, amounts within the registers and / or memory of the computer Computing system and / or transformed into other data that is similarly represented as physical quantities within the memory, registers or other such information storage, delivery or display devices of the computing system.

 The embodiments of the present invention may include apparatus for carrying out the work herein. Such apparatus may be constructed specifically for the desired purposes or may comprise a general computer selectively activated or reconfigured by a program stored in the computer. Such a computer program may be stored on a computer-readable storage medium, such as, but not limited to, all types of discs, including floppy disks, optical disks, CD-ROMs, magnetic-optical disks, read-only memory (ROMs), Random access memories (RAMs), electrically programmable random access memories (EPROMs), electrically erasable and programmable read only memories (EEPROMs), magnetic or optical cards or other types of storage media capable of storing electronic instructions and capable of being coupled to a computer system bus.

 In addition, the primary credit provider may also be considered a credit card issuer (supported by the cardholder's credit / bank / other account).

The secondary credit provider may also be considered as the invention, the invention system, or simply as the system. However, this should not limit the embodiments, functions or capabilities of the present invention to those of the secondary credit provider as described in the present application. The term loan securitization may consist of some or all of the following steps, which are considered credit request, loan approval and loan reconciliation, which may be accompanied by a corresponding period and amount. The consumer may also be considered a buyer, consumer, customer, credit card holder or simply a cardholder. And a partial payment may also be considered as a rate (based on the repayment terms between the secondary credit provider and the consumer).

 The methods and displays described herein are not associated with any particular computer or other apparatus. Various general systems may be employed with programs in accordance with the teachings herein, or it may prove convenient to construct a more specialized apparatus that performs the desired method. The structure desired for a variety of these systems will become apparent from the description below. Moreover, the embodiments of the present invention are not described with respect to a particular programming language. It is advocated that a variety of programming languages be used to implement the embodiments of the invention as described herein.

 The present invention is a system and method for brokering a transaction. According to some embodiments of the present invention, the consumer may be considered as part of a transaction between a merchant and a consumer / customer of goods and / or services and / or funds (eg, cash) that may be initiated at or via an access point (eg, online). Point-of-Sale, automated teller machine) to divide the transaction costs into a series of payments / installments, through which the costs can be distributed over a period of time. The said series of payments and the said period can be predefined or predetermined in advance.

[Types of transactions]

According to some embodiments, a transaction between a merchant and a customer may include the merchant providing goods, services, financial services, and / or a combination thereof to the customer. The transaction may be a conventional merchant transaction, an online transaction, a mobile transaction, and / or any other type of transaction currently known or to be developed in the future. According to some embodiments, the trader may provide the client with transferable securities, such as the currency of one or more countries, bearer bonds or the like. Any existing or future types of transactions that are possible between a merchant and a consumer of goods and / or services (eg, online / Internet, point-of-sale, automatic teller machine, etc.) may be supported by various embodiments of the present invention ,

[System, Interface and Customer Characteristics]

According to some embodiments of the present invention, methods and Systems provided for brokering credit-based transactions in connection with the purchase of cost-related goods or services. According to some embodiments of the present invention, the data indicating the cost of the goods or service may be received over a data network. Then, the cost of the transaction can be securitized over a data network based on a credit line provided by a primary credit provider. After securitization, a secondary credit provider can finance the transaction. The secondary credit provider may receive periodic partial payments of the transaction costs while periodically repricing an outstanding transaction balance.

In accordance with some embodiments of the present invention, a transaction system may include one or more transaction servers, including collective control logic adapted to:
(1) receiving the data indicating the cost of the goods or service over a data network; (2) securitizing the cost of the transaction over a data network provided by a primary credit provider;
(3) financing the transaction after securitization; (4) receiving periodic installments from the primary credit provider; and (5) periodically re-writing the outstanding balance.

In In accordance with some embodiments of the present invention, a flow chart illustrating the phases and steps of an example method for mediating rate transactions is shown. The first part of the process begins with negotiating the cost of the goods or service between a dealer and a buyer. Once the price has been agreed, the buyer will request the services (rates) of the secondary credit provider and, in return, possibly through the dealer or the dealer terminal, will receive the repayment terms offered by the secondary credit provider. Then the buyer can: Accept the terms, request another redemption offer or decide that he is not interested. The secondary credit provider then securitises the full transaction amount (including financing fees) through the primary credit provider and pays the full transaction amount to the merchant. In the second part of the procedure, the secondary credit provider seeks to re-securitise the remaining balance of the transaction through the primary credit provider. If the primary credit provider authorizes the securitization of the rest of the transaction balance, the secondary credit provider commissions the primary credit provider to pay him a partial payment of the approved amount (based on the purchaser's repayment terms) and cancels the last previous securitization until the full amount of the transaction the secondary credit provider is paid. On the other hand, if the primary credit provider does not approve the securitization of the remaining transaction balance, the secondary credit provider commissions the primary credit provider to pay him the full remaining balance (based on the previous prior approval of the primary credit provider).

 In accordance with some embodiments of the present invention, a securitization module may be adapted such that the data indicating the cost of the commodity or service is received over a data network. The data may be received from a merchant representative selected from a group consisting of the terminal merchant agent, online merchant agent, cashier agent, and cash dispenser representative. The securitization module may be further adapted to receive data related to the number and / or amounts of said installments. In accordance with some embodiments of the present invention, the securitization module may be adapted to securitize the cost of the transaction using a credit line provided before a primary credit provider. A securitization may include initiating a credit request and receiving the credit approval.

 According to some embodiments of the present invention, a money transfer module may be adapted to fund the transaction after its securitization (e.g., by transferring funds to the merchant of the goods / services). In accordance with some embodiments of the present invention, a cash receiving module may be adapted to receive periodic partial payments or full payment from the primary credit provider. The cash receipt module may be further adjusted to receive the full balance payment from the primary credit provider following a failure to re-securitize. According to some embodiments of the present invention, the transfer of money to the merchant can only be made after the goods have been shipped to the consumer.

 In accordance with some embodiments of the present invention, the securitization module may be further adjusted to periodically re-securitize an outstanding balance. A re-securitization may involve initiating a credit request and receiving the credit approval.

In For example, in accordance with some embodiments of the present invention, a table is shown which illustrates the modules of an example system for Describes how to mediate transactions. The purchaser initiates a transaction through a Cash Disbursing Representative (CWA), a Cashier Representative (CPA) or a Merchant Representative (MA), such as an Online Merchant Representative or a Terminal Merchant Representative. Subsequently, the system of the system (the secondary credit provider) carries out a credit approval of the entire transaction amount via the primary credit provider. After a successful loan approval (securitization), he finances and transfers the entire transaction amount to the merchant with the money transfer module. On the basis of the installment plan agreed by the buyer, the secondary credit provider periodically requests (eg before the respective installment is due) credit approvals for the balance amounts. Upon granting a credit request for the balance amount, the secondary credit provider re-securitises the remaining balance, excluding the current rate, requests the primary credit provider to transfer the current installment amount to him and receives it with his money-receiving module. If the credit request for a balance amount is not approved, the secondary credit provider will ask the primary credit provider to transfer to him the entire balance of the transaction based on the most recent prior approval granted by the primary credit provider.

In In accordance with some embodiments of the present invention, there is shown an image of an example transaction payment agreement in which the amount of the first rate and the balance sum (after the payment of the first rate) are calculated based on the partial sum of the transaction, the number of installments and the calculated interest and presented.

 According to some embodiments of the present invention, a consumer of goods and / or services and / or cash (e.g., cash) may request, as part of the cost distribution, installments that a secondary credit provider pays the merchant the cost of the purchased goods and / or services. The said secondary credit provider may be a third party willing to finance the said transaction (e.g., a financial institution, the dealer itself, other persons or entities).

 According to some embodiments of the present invention, the secondary credit provider may provide the consumer with repayment terms (e.g., monthly payments / installments) for the principal amount to be paid by the secondary credit provider and / or for the financing charges (e.g., interest or other form of fees). The secondary credit provider may securitise the amounts to be paid to the merchant with a credit line provided to the consumer by a primary credit provider (e.g., credit card issuer).

Simultaneously with or prior to payment to the merchant, the sponsoring party (e.g., the secondary credit provider) may request from the primary credit provider a credit approval for the remaining amounts due, including financing charges (e.g., interest, commission, other ancillary fees).

 In accordance with some embodiments of the present invention, the secondary credit provider may request a partial payment of the approved credit from the primary credit provider based on the repayment terms agreed between the secondary credit provider and the consumer. As each credit approval expires (ends) either within a predefined period of time or on the basis of an act, the secondary credit provider can re-securitize a remaining balance owed by the consumer by periodically re-requesting the loan approval for the remaining balance.

 In accordance with some embodiments of the present invention, the above re-securitization and remittance cycle may be repeatedly executed until all due payments have been transferred to the secondary credit provider. If the re-securitization does not occur, the said secondary credit provider may request the primary credit provider to transfer the full balance left to him by the consumer on the basis of the most recent loan securitization.

 According to some embodiments of the present invention, the risk of irrecoverable amounts by re-securitizing part or all of the balance due to the secondary credit provider immediately prior to, parallel to, or immediately after the payment of the respective installment by the buyer / cash-taker (ie the / parallel to / after the expiration [date or initiated action] of the respective previous credit securitization).

[Role / identity of the primary and secondary credit provider]

According to some embodiments, the merchant may be a merchant of goods, real estate, cash and / or service providers, such as: (1) financial services, (2) banking services, (3) rental services, (4) Communications services, (5) medical services, (6) travel services, (7) money exchange services or other goods or services.

The merchant may notify the customer (1) at a manned point-of-sale (eg at a cash register), (2) through an automated device (eg, a product dispenser, an automated teller machine, etc.), (3) through e-commerce Internet site or through an online cash register application and / or (4) provide goods or services through a mobile trading system or via a currently or future developed path.

 According to some embodiments, a trader may also provide financial services, for example, lending or otherwise providing a currency to a customer. According to some embodiments, the merchant of goods and / or services may act as a secondary credit provider. For example, a trader may provide financing to a client based on a securitization provided by one or more primary credit providers: (1) an immediate cash loan; (2) a purchase, lease or rental of a product; and / or (3) a service. According to some embodiments, the secondary credit provider could be banks and / or credit associations and / or financial institutions and / or other organizations and / or individuals.

 According to some embodiments, the primary credit provider may be a credit card issuer, a financial institution, a credit union, and / or other organization that provides and / or remits a credit and / or payment service to and on behalf of the customer.

[Options for establishing the availability / credit facilities of a secondary lender (transaction payer)]

 According to some embodiments, a customer may set up a credit facility or availability for a transaction payment by the secondary lender (secondary credit provider) either during or before a given transaction. As part of establishing a payer agreement with a secondary lender or the secondary credit organizer, the customer may provide personal and financial information, including: (1) name, (2) address, (3) an identification number (eg, social security number), and (4) one or more identifiers of the primary lender's accounts (eg credit card accounts) by which the secondary lender can certify the repayment of payments made or other consideration provided by the secondary lender on behalf of the client. According to some embodiments, the customer may be provided with a series of primary account identifiers as a bank of primary credit lines that may be used to securitise the transaction-related costs, and the customer may determine: (1) a preference for a primary account order; Priority when a transaction amount is securitized; (2) a preferred ratio for splitting the securitization of a transaction amount across multiple primary creditor accounts; and (3) other rules or parameters used by a securitization module in accordance with the teachings of the present invention when a transaction is granted on behalf of the customer. According to further embodiments, a customer may provide an identifier and use a primary creditor account from one or more other persons and / or organizations, for example, a company, a family member, and / or a friend, that is, such persons and / or organizations that consent have their credit facilities / accounts used or used by the customer.

 A computer system may include, according to the embodiments, a customer interface, optionally an Internet interface through which a customer may set up and / or adjust one or more secondary creditor accounts. To set up and customize may include providing or changing information and parameters as described above, as well as determining and redetermining the following: (1) a preference for a primary account order or priority when a transaction amount is securitized; (2) a preferred relationship for splitting the securitization of a transaction amount across multiple primary creditor accounts; and (3) other rules or parameters used by a securitization module in accordance with the teachings of the present invention when a transaction is granted on behalf of the customer.

 To establish a secondary creditor account, according to the embodiments, may include issuing a transaction mediating token, such as: (1) a credit card of the secondary credit provider, (2) a digital token or the like used for authentication in online transactions, (3) a mobile application component for use in mobile payments and / or (4) other enabling tokens or instruments currently known or to be developed in the future.

The token may be specific to a given customer account and used by the customer when initiating a transaction in accordance with the teachings of the present invention. The token may include one or a number of customer identifiers useable by a computerized transaction approval system in accordance with the forms to initiate the steps required to authenticate and authorize a transaction that the customer desires.

In For example, in accordance with some embodiments of the present invention, a table is shown that describes the modules of an example system for arbitrating transactions that include a consumer interface module, a merchant interface module, and the interface module of a primary credit provider. The consumer interface module allows the consumer to access and edit / update the secondary credit provider's consumer / customer records / profiles, including personal details, his list of primary credit providers, his terms of use, and / or any other attributes related to his own information and / or or add or change its primary credit provider. With the merchant interface module, the merchant can send requests for the services of the secondary credit provider and after the financing of a consumer transaction, and receive replies to those requests. The primary credit provider's interface module (securitization module) sends securitization requests based on the transaction information provided by the merchant's profile and the consumer's primary credit provider to one or more primary credit providers and, in response, receives responses from one or more of the contacted primary credit providers (eg granted / not granted / partially approved).

 According to some embodiments of the present invention, as a result of an unprovisioned product or service that has not been lawfully reloaded, or for any other reason, a refund of part or all of the purchase or financing charges may be made to the buyer and / or others Parties justifies a return debit procedure being initiated. The sponsoring party (e.g., the secondary credit provider) may query the details of the "debited" transaction and deduct part or all of the purchase amount from the merchant.

From the amount debited, he may instruct the primary credit provider to reimburse part or all of the amounts paid by the buyer and part or all of the amounts unpaid by the buyer.

 In accordance with some embodiments of the present invention, said method may be used to organize, authorize or facilitate the cooperation of one or more independent, external or internal persons - a consumer, credit provider, merchant, credit card acquirer, credit card issuer or otherwise involved to allow the rate method described above. In addition, external or modular financing of these rate transactions (eg, by an external / third / secondary credit provider) may be used for, or may facilitate, one or more secondary sources of debt financing or cash withdrawal from various merchants are or are not accustomed to or not and that is the financing organization of the payout transaction or not.

 In accordance with some embodiments of the present invention, there is provided a transaction system adapted to convey credit transactions between a merchant and a customer of goods and / or services and / or funds (eg, cash) stored at or via an access point (eg, online , Point-of-sale, automatic teller machine) can be initiated.

 As part of the transaction system or in a functional relationship with the transaction system, a dealer representative, cashier agent, or cash payout representative module may be provided. The dealer representative, cashier agent or cash payout agent module accessible via an access point (eg, online, point-of-sale, automatic teller machine) may be adapted to provide the consumer with repayment terms for the merchant from the merchant Financing partner (eg the secondary credit provider) and for the financing fees (eg interest or other charges) by which the costs are distributed over a period (eg monthly payments, installments) and that such a transaction will take place after approval by said consumer starts.

 A securitization module may be provided as part of the transaction system or in a functional relationship with the transaction system.

The securitization module may be adjusted to reflect the amounts to be paid to the trader plus the financing charges by the Requesting the full amount loan approval from a primary credit provider (eg, a credit card issuer or other credit provider), possibly by using a credit line provided to the consumer. Said securitization module may be further adjusted to request credit approval for the remaining sums due, including financing fees, from the primary credit provider simultaneously with or prior to payment to the merchant.

[Transaction Payment Permit Details - Type of Securitization]

 In accordance with some embodiments of the present invention, a consumer of goods and / or services and / or funds (eg, cash) may use a payment mechanism or a payment token, such as a payment card or online payment application, as part of the sharing of transaction costs / amount in installments provided by a secondary credit provider. The use of the secondary credit provider payment mechanism may cause the secondary credit provider to: (1) authenticate details of the transaction; (2) the availability of one or more primary lines of credit verifies that they are sufficient to cover the transaction amount; and (3) pays the trader part or all of the purchased goods and / or services, depending on (1) and (2) , The secondary credit provider may be any third party willing to finance the said transaction (e.g., to pay the merchant).

 According to some embodiments of the present invention, the transaction amount provided by the secondary credit provider, including the financing charges, may be securitized, for example, based on one or more credit lines provided to the consumer by one or more primary credit providers. Based on said securitization, the secondary credit provider may pay the merchant the transaction amount, usually excluding the financing charges. According to some embodiments, an amount securitized by one or more primary credit lines may be a fixed amount, a fixed percentage, or a dynamically calculated amount.

According to some embodiments, where an outstanding balance is securitized on the basis of two or more credit lines, an amount selected for each of the two or more primary lines of credit can be dynamically selected so as to mitigate a risk of the primary credit provider refusing it to securitise the portion selected for its securitization.

 As part of the transaction system or in a functional context with the transaction system, a money transfer module may be provided. The remittance module may be adapted to instruct, after the said approval of the primary credit provider, the transfer of the full purchase / cash disbursement amount excluding the financing charges from the secondary credit provider to the merchant.

 In accordance with some embodiments of the present invention, said securitization module may be further adapted to securitise any remaining balance owed by the consumer to the secondary credit provider by periodically requesting a loan credit for the remaining balance. The said remittance module may be further adapted to request the primary credit provider, after a re-securitization of the remaining balance, to remit the amount of the current payment to the secondary credit provider (e.g., monthly payments) in accordance with the pre-agreed repayment terms.

 In accordance with some embodiments of the present invention, the above re-securitization and remittance cycle may be repeatedly executed until all due payments have been transferred to the secondary credit provider. If the re-securitization does not occur, said remittance module may be further adjusted to prompt the primary credit provider to remit the full remaining balance from the consumer to the finance party (e.g., the secondary credit provider) based on the most recent loan securitization.

 In accordance with some embodiments of the present invention, said securitization module may be adapted to pay part or all of the remaining balance owed to the secondary credit provider immediately prior to, in parallel with, or immediately after the buyer has paid the respective installment / Cash-backlash (ie before / during / parallel to the expiration [date or action initiated] of the respective previous loan securitization), thereby reducing or minimizing the risk of undeletable amounts.

[Amortization and Restructuring Procedures / Options]

In accordance with some embodiments of the present invention, a partial payment of the transaction costs may be received either from the primary credit provider or directly from a buyer of the goods or service. According to some embodiments of the present invention, the secondary credit provider may receive the full balance payment from the primary credit provider following a failure to re-securitize.

 According to some embodiments of the present invention, a partial payment received from the secondary credit provider may be one of a series of the same or one of a series of non-equal partial payments. Magnitudes and schedules of payments received can be set according to a predefined payment plan. In addition, the installment may be substantially equal to the amount financed plus the financing fees divided by the number of payments to be made.

 In accordance with some embodiments of the present invention, a repeated cycle of re-securitisations may be initiated, wherein each cycle may include: a re-securitization of the remaining balance; and a request for current payment to be made to the secondary credit provider on the basis of conditions previously agreed by the consumer (e.g., by a credit line provided to the consumer by a primary credit provider).

 According to some embodiments of the present invention, said repeating cycle may end after the transfer of all due payments to said secondary credit provider. If the re-securitization does not occur, said secondary credit provider may request the primary credit provider to transfer to him the full balance left by the consumer based on the most recent loan securitization executed to date.

 According to some embodiments of the present invention, the securitization and / or re-securitization of the transaction over a data network may consist of issuing a credit application and obtaining the credit approval.

In accordance with some embodiments of the present invention, the periodic receipt of a partial payment may further include obtaining transaction-related financing costs and / or receiving commission costs.

 According to some embodiments, it is possible to use different cycles to request the grant, and to request payment from one or more primary credit providers. The normal cycle will be a monthly cycle, but it can be changed as needed for any reason. For example, a cycle to request the grant could be 25 (twenty-five) days.

• 1. Der Kauf fand am 1. März statt und die Bewilligung wurde am 1. März beantragt und erhalten.
• 2. Die Bewilligung wurde am 25. März beantragt und erhalten. Die Zahlung wurde am 1. April angefordert und erhalten. Falls der Antrag zur Bewilligung abgelehnt wird, haben wir zusätzliche 5 Tage, um Abhilfemaßnahmen zu ergreifen, zum Beispiel können wir die Bewilligung wiederholt anfordern und / oder eine andere Kreditkarte vom Verbraucher anfordern. Im Falle eines Totalausfalls haben wir wahrscheinlich noch genug Zeit, weil das elektrische System normalerweise in zwei bis drei Tagen vollständig betriebsfähig wurde.
• 3. Am 19. April wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Mai angefordert und erhalten.
• 4. Am 14. Mai wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Juni angefordert und erhalten.
• 5. Am 8. Juni wurde die Bewilligung beantragt und erhalten. Die Zahlung
• wurde am 1. Juli angefordert und erhalten.
• 6. Am 3. Juli wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. August angefordert und erhalten.
• 7. Am 28. Juli wurde die Bewilligung beantragt und erhalten. (HINWEIS: Bei diesem Schritt gibt es keinen Antrag auf Bewilligung).
• 8. Am 22. August wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. September erhalten.
• 9. Am 16. September wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Oktober angefordert und erhalten.
• 10. Am 11. Oktober wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. November angefordert und erhalten.
• 11. Am 6. November wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Dezember angefordert und erhalten.
• 12. Am 20. Dezember wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Januar angefordert und erhalten.
• 13. Am 4. Januar wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Februar angefordert und erhalten.
• 14. Am 29. Januar wurde die Bewilligung beantragt und erhalten. (HINWEIS: Bei diesem Schritt gibt es keinen Antrag auf Bewilligung).
• 15. Am 22. Februar wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. März angefordert und erhalten.
• 16. Am 18. März wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. April angefordert und erhalten.
• 17. Am 13. April wurde die Bewilligung beantragt und erhalten. Die Zahlung wurde am 1. Mai angefordert und erhalten.

The cycle for requesting the payment will be, for example, one month. More precisely:

• 1. The purchase took place on the 1st of March and the approval was requested and received on the 1st of March.
• 2. The permit was requested and received on March 25th. The payment was requested and received on April 1st. If the request for approval is denied, we have an additional 5 days to take corrective action, for example, we may request the authorization repeatedly and / or request another credit card from the consumer. In the case of total failure, we probably still have enough time because the electrical system would normally become fully operational in two to three days.
• 3. The permit was applied for and received on 19 April. The payment was requested and received on May 1st.
• 4. The permit was applied for and received on May 14th. The payment was requested and received on June 1st.
• 5. The permit was applied for and received on 8 June. The payment
• was requested and received on July 1st.
• 6. The permit was applied for and received on 3 July. The payment was requested and received on August 1st.
• 7. The permit was applied for and received on July 28th. (NOTE: There is no application for approval at this step).
• 8. On August 22, the permit was requested and received. The payment was received on the 1st of September.
• 9. The permit was applied for and received on 16 September. The payment was requested and received on October 1st.
• 10. The permit was applied for and received on 11 October. The payment was requested and received on November 1st.
• 11. The permit was applied for and received on 6 November. The payment was requested and received on December 1st.
• 12. The permit was applied for and received on 20 December. The payment was requested and received on January 1st.
• 13. The permit was applied for and received on 4 January. The payment was requested and received on February 1st.
• 14. On January 29, the permit was requested and received. (NOTE: There is no application for approval at this step).
• 15. On February 22, the permit was requested and received. The payment was requested and received on March 1st.
• 16. The permit was applied for and received on 18 March. The payment was requested and received on April 1st.
• 17. The permit was applied for and received on April 13th. The payment was requested and received on May 1st.

Accordingly, a duplicate grant in such an example may occur only in the last 5 (five) days of the 30-day grant. It is very probable that the grant will be taken out in 25 days on the record of the primary credit provider.

In the above example, there is always a 5-day difference / overlap between the current grant and expiration of the current grant. Such a 5-day period ensures (in this example) that: (i) In the event of rejection of the grant, there is ample time to take corrective action, such as: retrying the securitization, contacting the client for another securitization source (ie another primary credit line, such as another card of the customer, or a card of another person and / or organization with prior or current confirmation from such persons / organizations (ii) in most cases of catastrophic failure or partial failure another catastrophic failure in the system of the invention or external systems that are functionally related to it (for example, the communication system), 5 days means sufficient time for recovery; (iii) the case of a massive hacker / malware / cyber Attack or an internal software error that is related to an internal od he can stand external event (e.g. the error 2K in 2000); (iv) other internal and / or external events.

As further formulated, the system may allow the payment and grant cycle to be adjusted to keep up with potential threats. According to still further embodiments, such payment and grant cycles may be dynamically adjusted in case of perceived other or additional threats; in response to a request from one of the parties (consumer / dealer / secondary credit provider); and / or in response to a change in the regulatory environment by state or parastatal institutions, larger primary credit systems, or other organization.

In accordance with some embodiments of the present invention, the secondary credit provider may be adapted to handle a return debit procedure initiated as a result of the failure to provide a product or service, properly or otherwise, for reimbursement of part or all of the purchase or service May justify any financing charges back to the buyer and / or other parties. The secondary credit provider may also be adapted to retrieve details of the 'chargeback' transaction and may charge the merchant for part or all of the purchase amount. From the amount debited, he may instruct the primary credit provider to reimburse or reimburse some or all of the amounts already paid by the buyer and some or all of the amounts unpaid by the buyer.

According to some embodiments of the present invention, said system may be adapted to externally organize the cooperation of one or more independent, external or internal persons - a consumer, credit provider, merchant, credit card acquirer, credit card issuer, transaction organizer with installments or otherwise involved parties to impart rate methods described hereinbefore. In addition, the said system may be adapted to allow the use of external or modular financing of these installment transactions (eg by an external / third / secondary credit provider) and thus to enable one or more secondary sources of debt financing and / or the disbursement of cash from different dealers who may or may not be accustomed to this type of service, and who is or may not be the financing organization of the payout transaction.

In accordance with some embodiments of the present invention, a payment plan may be customized to the consumer, eg postponement of the first payment, variation of the payment plan according to a predetermined schedule agreed with the consumer, and more. According to some embodiments, a payment plan may be changed at any time after the conclusion of the agreement with the consumer in order to meet the current needs of the consumer. According to some embodiments, such a change in the Payment plan may be a predefined function, or it may take place as a result of a predetermined function of certain external factors (eg change in prime rate on loans).

According to further formations, the consumer may pre-pays the entire outstanding balance or prepay a portion of the outstanding balance - in which case his payment plan may be changed in one or more of several ways, including: reducing the amounts of at least some of the installments, reducing the number of installments Guessing and so on.

According to some embodiments of the present invention, at the consumer's request, a payment and / or a securitization may be accepted / made by another source if the current payment is rejected, for example, by another consumer's credit card or by another person or entity.

In accordance with some embodiments of the present invention, a transaction [as opposed to an external lender] may be financed via the merchant.

In accordance with some embodiments of the present invention, transaction finance may be shared among multiple collectors (eg, the merchant, the sponsoring institution, the matching institution, or another institution).

According to some embodiments of the present invention, a down payment for rental or mortgage payments on the purchase or rental of, for example, a car, a boat, a home, and other things may be funded by (total or partial) sharing the down payment costs in installments through the system , Such financing of the down payment may be provided by a primary credit provider.

In accordance with some embodiments of the present invention, the system may be used to issue loans in installments that are debited directly from the credit or debit card used by the consumer for the monthly payments, directly to the consumer's bank account or otherwise. Such a loan may be securitized by a primary lender (e.g., a credit card issuer, a credit union, or a bank, a credit card issuer who is not a bank).

In accordance with some embodiments of the present invention, a consumer may open an account in the system where he can update the details of the additional credit cards to allow the system to review the ongoing grants / re-securitisations and actual collection in accordance with the consumer's instructions or a formula in the system different cards to spread the risk and increase the chances of granting the transactions, or according to the type of credit card (platinum before gold, etc.).

In accordance with some embodiments of the present invention, the opening of an account may allow the system to automatically request a re-securitization or authorization to withdraw from another card listed in the consumer's account if any of the re-securitization or recovery procedures from the first card during the funding period rejected by the consumer.

In accordance with some embodiments of the present invention, the system may know how to execute the transaction according to the instructions of the consumer or as decided by the system in a manner about a particular card, or how to divide it into a number of cards that the consumer may be registered on their account in order to maximize the consumer benefits that exist for the various cards, thus maximizing the benefits to the consumer (for example, collecting miles, reimbursement of funds (eg cash back payment, etc.)).

In accordance with some embodiments of the present invention, a consumer may re-finance / re-securitize any existing transactions through the buyer's account in the system by combining or splitting some or all of the remaining balance in various transactions.

In accordance with some embodiments of the present invention, an automatic system may be created to divide the funding of an external organization among multiple funding institutions (simulating a funding consortium) and funding to the institutions according to a predetermined module to be agreed with the funding institutions and to allocate to the financing institutions the approval of the primary credit provider in relation to the risk and extent of their participation in the transaction.

In accordance with some embodiments of the present invention, the system may partition the securitization requirements according to an algorithm that may provide a greater chance of granting the securitization process (for example, US Pat Example by splitting a securitization request into two: one for the due installment and one for the remaining amount).

In the - In accordance with some embodiments of the present invention, various primary credit provider securitization scenarios of an example system for arbitrating transactions are shown.

In In accordance with some embodiments of the present invention, there is shown an exemplary two-phase scenario in which the primary credit provider grants both: the initial securitization of the full transaction amount and the subsequent remaining amounts of the transaction balance.

In In accordance with some embodiments of the present invention, there is shown an exemplary two-phase scenario in which the first primary credit provider does not grant both: the initial securitization of the full transaction amount and the following remaining amounts of the transaction balance. After each non-grant, the secondary credit provider contacts a second primary credit provider (listed, for example, in the consumer records / consumer profile of the consumer's secondary credit provider) who approves the securitisations.

In For example, in accordance with some embodiments of the present invention, an example scenario is shown where the first primary credit provider grants a securitization of only 50% of the transaction amount. Following a non-approval of the total transaction amount, the secondary credit provider contacts a second primary credit provider (listed, for example, in the consumer records / consumer profile of the consumer's secondary credit provider) who authorizes the securitization of the remaining transaction amount.

In In accordance with some embodiments of the present invention, an example scenario is shown in which the secondary credit provider requests a securitization of a transaction amount by the first primary credit provider and the first primary credit provider provides the securitization details (eg, a 5% commission). Subsequently, the secondary credit provider requests a securitization of a transaction amount by the second primary credit provider and the second primary credit provider provides the securitization details (eg a commission of 2%). Due to the preferential conditions offered by the second primary credit provider, the secondary credit provider securitises the transaction with him rather than with the first primary credit provider.

In For example, in accordance with some embodiments of the present invention, an example scenario is shown in which the merchant is the primary credit provider. The secondary credit provider applies for and receives the securitization grant from the dealer. On the basis of this authorization, he finances the transaction.

In According to some embodiments of the present invention, an exemplary scenario is shown in which the merchant is the secondary credit provider asking the consumer which of his primary credit providers (listed, for example, in the consumer records / consumer profile of the consumer's secondary credit provider) he wishes to use for securitization. Upon receipt of the consumer's choice of which primary credit provider he prefers (eg, the second primary credit provider), the secondary credit provider undertakes the securitization with the selected primary credit provider.

In For example, in accordance with some embodiments of the present invention, an exemplary scenario is shown in which the consumer updates records / profile of his secondary credit provider, adds one primary credit provider (the fourth) and deletes another (the second).

In For example, in accordance with some embodiments of the present invention, an example scenario is shown in which the consumer updates records / profile of his secondary credit provider and requests that all transactions in excess of $ 100 be securitized by a specific primary credit provider (the fourth). Accordingly, a subsequent transaction of an amount not exceeding $ 100 will be referred to other primary credit providers (the first, second or third, in this case the first), while a subsequent transaction of an amount greater than $ 100 will be referred to the particular, from the consumer certain primary credit provider is referred (in this case to the fourth).

According to some embodiments, the system described herein is organized and structured as a "cloud" or partially as a "cloud."

Further, the system described herein, in accordance with some embodiments, is organized and structured to perform other tasks beyond the objectives of the method described in this invention.

According to some embodiments, the system described herein is organized and structured so that it can accommodate affiliation programs for the individuals and / or organizations, on the one hand the relationship of the owner and / or operator of such a system, and on the other hand, of merchants and / or consumers and / or or credit card acquirers and / or secondary credit providers and / or another party.

Furthermore, such a system is designed to provide each member of the affiliation program with individualized relevant information (e.g., reports) when needed. Such a system may also have modules for analyzing the information provided. Such provided information may be given on request at time intervals. Furthermore, a member of the affiliation program may be provided with an automatic signal (e.g., SMS, e-mail) that there are predetermined changes in relevant variables, factor counts, and so on, and / or a predetermined occurrence of certain events.

The affiliation can have members of different levels. This means that members of the affiliation program may have agreements with the owner and / or operator of such a system (Level 1). The Level 1 member may have agreements with other persons and / or organizations (Level 2). The Level 2 member may have agreements with other persons and / or organizations (Level 3).

Such a system could accommodate a virtually unlimited number of levels.

The compensation provided to a particular member of the affiliation program is individualized and may vary for different circumstances, events, cases, factors and could be calculated using different algorithms.

• – Verbrauchern
• – Händlern und / oder ihren Mitarbeitern;
• – Mitgliedern der Angliederungsprogramme und / oder ihren Mitarbeitern und / oder mit ihnen verbundenen Einzelpersonen und Organisationen;
• – Primären Kreditgebern und / oder ihren Mitarbeitern;
• – Sekundären Kreditgebern und / oder ihren Mitarbeitern;
• – Anderen Klassen von Personen und / oder Organisationen.

In some embodiments, the system described herein is organized to house and organize advertising lotteries, bonuses, awards, prizes, based on various algorithms and factors. Such lotteries, bonuses, awards, prizes could be organized separately and / or together for the benefits of groups belonging to the following classes and / or total classes as follows:

• - consumers
• - dealers and / or their employees;
• - members of the affiliation programs and / or their staff and / or individuals and organizations associated with them;
• - primary lenders and / or their employees;
• - secondary lenders and / or their employees;
• - Other classes of persons and / or organizations.

• – Verbrauchern;
• – Händlern und / oder ihren Mitarbeitern;
• – Mitgliedern der Angliederungsprogramme und / oder ihren Mitarbeitern und / oder mit ihnen verbundenen Einzelpersonen und Organisationen;
• – Primären Kreditgebern und / oder ihren Mitarbeitern;
• – Sekundären Kreditgebern und / oder ihren Mitarbeitern;
• – Anderen Klassen von Personen und / oder Organisationen.

According to some embodiments, the system described herein is capable of accommodating and organizing various jackpots, including progressive jackpots and random event jackpots. Such jackpots can be based on different algorithms and factors. Such jackpots could be organized separately and / or jointly and / or partially together as follows for the benefit of the groups belonging to the following classes and / or total classes:

• - consumers;
• - dealers and / or their employees;
• - members of the affiliation programs and / or their staff and / or individuals and organizations associated with them;
• - primary lenders and / or their employees;
• - secondary lenders and / or their employees;
• - Other classes of persons and / or organizations.

While certain features of the invention have been illustrated and described herein, many modifications, uses, changes, and equivalents will now occur to those skilled in the art. It is therefore to be understood that the appended claims are intended to cover all such modifications and changes as fall within the true spirit of the invention.

Claims (35)

A method of brokering credit based on transactions associated with a customer purchase or leasing of goods, services or real estate associated with transaction costs, or providing a loan, said method comprising: receiving data representing the transaction costs specify, via a data network; dynamically securitizing transaction costs over a data network using a credit framework provided by one or more primary credit providers; financing at least part of the transaction after interactively setting a periodic installment plan to pay the transaction costs; the periodic receipt of a partial payment for the settlement of an outstanding balance of the transaction costs; and the periodic re-writing of a remaining outstanding balance with a schedule so designed that the remaining outstanding balance is always securitized.  The method of claim 1, wherein the transaction is of a type selected from the group consisting of: purchasing a good or a property; renting a good or a property; the purchase or rental of a service; a cash payment; renting or renting premises; the payment of damage to a rented or rented property; the payment of fees, fines or penalties in connection with the termination of a rental or rent; a series of periodic payments; the payment of fees, fines or penalties in connection with the financed and / or underlying transaction; the payment of taxes or insurance costs and / or the payment of municipal fees.  The method of claim 2, wherein at least one of the one or more primary credit providers is selected from the group consisting of: (1) a bank, (2) a credit card company, (3) a credit union, (4) one Dealer, (5) a manufacturer.  The method of claim 3, wherein securitizing transaction costs over a data network based on a credit framework provided by one or more primary credit providers includes selecting one or more primary credit providers from a pool of optional credit providers designated by the customer.  The method of claim 1, wherein the periodic installment is received from a primary credit provider.  The method according to claim 1, wherein the periodic partial payment is received by the customer of the product or service.  The method of claim 1, further comprising, after an unsuccessful re-securitization or a non-receipt of a partial payment, being required by the primary credit provider to pay the full outstanding balance, normally based on a prior approval.  The method of claim 1, further comprising attempting to reconnect with a second primary credit provider after a failure to re-securitize with a first primary credit provider.  The method of claim 1, wherein the periodic installment is substantially equal to a sum of the amount financed including the financing charges and divided by a number of scheduled installments.  The method of claim 1, wherein securitizing the cost of the transaction over a data network comprises issuing a credit request and obtaining a credit approval.  The method of claim 1, wherein the periodic re-securitization of a pending balance comprises issuing a credit request and obtaining a credit approval.  The method of claim 1, wherein the periodic installment plan for repayment of transaction costs is selected by the customer either during or prior to the transaction.  The method of claim 12, wherein the periodic installment plan for redeeming transaction costs is changed upon request of one of the parties after the transaction.  The method of claim 1, wherein a transaction is financed through the merchant.  The method of claim 1, wherein transaction finance is shared among multiple sources of finance.  The method according to claim 1, wherein a down payment for purchases at least partially financed by a loan is financed by dividing the down payment costs in installments. A transaction system for brokering credit-based transactions in connection with customer purchase or leasing of a commodity, service or real estate associated with transaction costs. Said system comprises: one or more transaction servers, including processing circuits, communication circuits and collection control logic, adapted to: (1) receive data indicating the transaction costs over a data network; (2) dynamically securitizing the cost of the transaction over a data network based on a credit line provided by one or more primary credit providers; (3) the interactive setting of a periodic Installment plan to pay off transaction costs, trigger financing of at least part of the transaction; (4) periodically receiving a partial payment to settle a pending balance of the transaction costs; and (5) the periodic rewrite of a remaining outstanding balance with a schedule that is designed so that the remaining outstanding balance is always securitized.  The system of claim 17, wherein said logic includes a securitization module adapted to securitize the cost of the transaction.  The system of claim 18, wherein said securitization module is further adapted to receive data related to the number and sum of said fractional payments.  The system of claim 18, wherein said securitization module is further adapted to receive the data indicating the cost of a good or service from a dealer representative selected from a group consisting of the terminal merchant agent, online merchant agent , Cashier Representative and Cash Disbursement Representative.  The system of claim 18, wherein said securitization module is further adapted to initiate a credit request and obtain a credit approval as part of the securitization of the transaction costs.  The system of claim 18, wherein said logic further includes an adjusted money transfer module for financing the transaction after securitization.  The system of claim 18, wherein said logic further includes an adapted cash receiving module to receive a partial or full payment. The system of claim 18, wherein said logic further includes a module that after securitization can receive full or partial financing of the transaction from one or more secondary credit providers and / or a merchant. The said logic further includes a module providing the payment of funds received from the secondary credit provider by the merchant. Said logic also includes a module that provides for the payment of funds that the consumer has received from the merchant and / or one or more secondary credit providers.  The system of claim 23, wherein said money receiving module is further adapted to receive the full final payment from the primary credit provider after a failure to re-securitize.  The system of claim 18, wherein said securitization module is further adapted to periodically re-securitize an outstanding balance.  The system of claim 17, wherein said system is used to install loans in installments or in installments in installments.  The system of claim 17, wherein said control logic is adapted to interact with a consumer and obtain details of additional credit providers. The system according to claim 17, wherein such control logic is adapted to interact with a consumer, merchant, secondary credit provider and other authorized third parties, wherein the module informs the interested party by email, SMS and so on of automatic warning and alerts Provides alarm messages. Also with modules to automatically provide interested parties with records, reports, statements, letters e-mails. Also with modules to provide online communication.  The system of claim 27, wherein said control logic is adapted to securitise the transaction through a particular credit line or to divide the securitization into a series of credit lines.  The system of claim 27, wherein said control logic is adapted to request periodic payments from a particular credit line or split the securitization into a series of credit lines based on an algorithm for maximizing the benefits provided by different credit lines.  The system of claim 17, wherein said control logic is adapted to provide, for the refinance / re-securitization option, a number of existing transactions by combining or splitting a portion of the remaining balance or the entire remaining balance into a series of transactions. The system according to claim 27, wherein said control logic is adapted to automatically request a re-securitization or consent to retire from another card frame listed on the consumer's account when one of the re-securitization or re-securitization Withdrawn from the first card.  The system according to claim 17, wherein said control logic is adapted to divide the financing among several financing institutions and to distribute the funding to the institutions according to a predetermined procedure, and to the financing institutions the approval of the primary credit provider in relation to the risk and extent of their Assign obligations to the transaction.  The system of claim 17, wherein said system is adapted to split the securitization requests according to an algorithm that may provide a greater chance of granting the securitization procedure.  The system according to claim 33, wherein said system is adapted to automatically request the re-securitization or approval to collect from the credit cards listed on the accounts of other persons according to prior or current approvals of such persons and the consumer.  The system of claim 17, wherein the control of the owner or operator of the transaction system is selected from a group consisting of: the merchant, the secondary credit provider, an independent party, or a combination thereof.

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