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Method and System for Conducting a Single Payment to a Service Provider by Allowing Multiple Separate Payments using a Proxy Credit Card

IP.com Disclosure Number: IPCOM000238246D
Publication Date: 2014-Aug-12
Document File: 3 page(s) / 63K

Publishing Venue

The IP.com Prior Art Database

Abstract

A method and system is disclosed for conducting a single payment to a service provider by allowing multiple participants to provide separate payments using a proxy credit card.

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This is the abbreviated version, containing approximately 51% of the total text.

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Method and System for Conducting a Single Payment to a Service Provider by Allowing Multiple Separate Payments using a Proxy Credit Card

There are many situations in which a payment is required to be made to a single service provider but funds are to be collected from multiple participants such as splitting a check at a dinner amongst friends.

Disclosed is a method and system for providing a single payment to a service provider while allowing one or more participants to provide separate payments using a proxy credit card. A proxy credit card is a pseudo card associated with bank accounts of the multiple participants with rules for splitting a check.

Figure 1 illustrates a flowchart for executing method steps.

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Figure 1

As shown in Figure 1, the method and system enables a user to create the proxy credit card when the user logs into a proxy credit card provider's website. The method and system collects details from the user for creating the proxy credit card. The details are, but need not be limited to, a card name, a start date, an end date, the manner in which bill has to be split (even or custom) and details of the one or more participants. The details of the one or more participants are, but need not be limited to, an email address, a percentage of the check amount a participant is to pay, a spending limit per transaction and a spending limit per period of time.

The method and system sends emails containing a link to the proxy credit card to the

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one or more participants after the proxy credit card is created. The method and system prompts the one or more participants to login when the one or more participants click on the link. Ther...