Method for Processing a Point of Sale Transaction Posted to a Credit Balance

Abstract

The present invention provides a method for processing a point of sale transaction posted to a credit balance, wherein parameters are used to determine whether a transaction posted to a credit balance is electronically paid using a separate payment balance.

1 . A method comprising:
 a. electronically providing a credit balance, an amount threshold, and a payment balance;   b. electronically purchasing at least one product or service as a point of sale (POS) transaction using said credit balance;   c. electronically posting said POS transaction to said credit balance, wherein said credit balance is debited for the amount of said POS transaction, and wherein said POS transaction is not yet paid by said payment balance; and   d. electronically applying said amount threshold, using a transaction processor, to determine whether to electronically pay said POS transaction using said payment balance;   wherein said amount threshold is specified by an end user.   
     
     
         2 . A method according to  claim 1 , wherein said POS transaction is electronically paid using said payment balance when said amount of said POS transaction is below said amount threshold, wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is at said amount threshold, and wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is above said amount threshold. 
     
     
         3 . A method according to  claim 1 , wherein said POS transaction is electronically paid using said payment balance when said amount of said POS transaction is above said amount threshold, wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is at said amount threshold, and wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is below said amount threshold. 
     
     
         4 . A method according to  claim 2 , further comprising electronically paying said POS transaction using a different payment balance when said amount of said POS transaction is above said amount threshold. 
     
     
         5 . A method according to  claim 2 , further comprising electronically paying said POS transaction using said payment balance or a different payment balance when said amount of said POS transaction is at said amount threshold. 
     
     
         6 . A method according to  claim 2 , further comprising wherein a portion of said POS transaction is electronically paid using said payment balance, wherein said portion is less than 100 percent of said amount of said POS transaction. 
     
     
         7 . A method according to  claim 2 , further comprising wherein when said POS transaction is not electronically paid, said POS transaction is subsequently paid by an end user using a payment balance selected from said payment balance, a different payment balance, or an additional payment balance. 
     
     
         8 . A method according to  claim 3 , further comprising electronically paying said POS transaction using a different payment balance when said amount of said POS transaction is below said amount threshold. 
     
     
         9 . A method according to  claim 3 , further comprising electronically paying said POS transaction using said payment balance or a different payment balance when said amount of said POS transaction is at said amount threshold. 
     
     
         10 . A method according to  claim 3 , further comprising wherein a portion of said POS transaction is electronically paid using said payment balance, wherein said portion is less than 100 percent of said amount of said POS transaction. 
     
     
         11 . A method according to  claim 3 , further comprising wherein when said POS transaction is not electronically paid, said POS transaction is subsequently paid by an end user using a payment balance selected from said payment balance, a different payment balance, or an additional payment balance. 
     
     
         12 . A method according to  claim 1 , wherein said credit balance comprises a single posted POS transaction or a plurality of single posted POS transactions. 
     
     
         13 . A method according to  claim 1 , wherein a network for conducting said POS transaction comprises a proprietary card network, an EFT network, an ACH network, or the Internet; and wherein means of conducting said POS transaction comprises a financial card, a transaction card, a personal identification system, a telephone, a cell phone, a computer, a PDA, a radio-related device, a contactless device, or a communication device. 
     
     
         14 . A method according to  claim 1 , wherein said credit balance, or any payment balance, comprise in-house or out-of-house balances. 
     
     
         15 . A method according to  claim 1 , wherein said amount threshold, said credit balance, or any payment balance is modified, withdrawn or adjusted. 
     
     
         16 . A method according to  claim 1 , wherein said credit balance, or any payment balance, comprises a revolving credit balance, a charge credit balance, a line of credit, a credit card account or a charge card account. 
     
     
         17 . A method according to  claim 1 , wherein any payment balance comprises a debit card account, a checking account, a savings account, a money market account, a cash account, or a cash balance. 
     
     
         18 . A method comprising:
 a. electronically providing a credit balance, a first amount threshold, a second amount threshold, and a payment balance;   b. electronically purchasing at least one product or service as a point of sale (POS) transaction using said credit balance;   c. electronically posting said POS transaction to said credit balance, wherein said credit balance is debited for the amount of said POS transaction, and wherein said POS transaction is not yet paid by said payment balance; and   d. electronically applying said first amount threshold and said second amount threshold, using a transaction processor, to determine whether to electronically pay said POS transaction using said payment balance, wherein said first amount threshold is below said second amount threshold;   wherein said POS transaction is electronically paid using said payment balance when said amount of said POS transaction is above said first amount threshold and below said second amount threshold;   wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is below said first amount threshold;   wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is at said first amount threshold;   wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is at said second amount threshold;   wherein said POS transaction is not electronically paid using said payment balance when said amount of said POS transaction is above said second amount threshold; and   wherein said first amount threshold and said second amount threshold are specified by an end user.   
     
     
         19 . A method according to  claim 18 , further comprising electronically paying said POS transaction using a different payment balance when said amount of said POS transaction is below said first amount threshold. 
     
     
         20 . A method according to  claim 18 , further comprising electronically paying said POS transaction using a different payment balance when said amount of said POS transaction is above said second amount threshold. 
     
     
         21 . A method according to  claim 18 , further comprising electronically paying said POS transaction using said payment balance or a different payment balance when said amount of said POS transaction is at said first amount threshold. 
     
     
         22 . A method according to  claim 18 , further comprising electronically paying said POS transaction using said payment balance or a different payment balance when said amount of said POS transaction is at said second amount threshold. 
     
     
         23 . A method according to  claim 18 , further comprising wherein a portion of said POS transaction is electronically paid using said payment balance, wherein said portion is less than 100 percent of said amount of said POS transaction. 
     
     
         24 . A method according to  claim 18 , further comprising wherein when said POS transaction is not electronically paid, said POS transaction is subsequently paid by an end user using a payment balance selected from said payment balance, a different payment balance, or an additional payment balance. 
     
     
         25 . A method according to  claim 18 , wherein said credit balance comprises a single posted POS transaction or a plurality of single posted POS transactions. 
     
     
         26 . A method according to  claim 18 , wherein a network for conducting said POS transaction comprises a proprietary card network, an EFT network, an ACH network, or the Internet; and wherein means of conducting said POS transaction comprises a financial card, a transaction card, a personal identification system, a telephone, a cell phone, a computer, a PDA, a radio-related device, a contactless device, or a communication device. 
     
     
         27 . A method according to  claim 18 , wherein said credit balance, or any payment balance, comprise in-house or out-of-house balances. 
     
     
         28 . A method according to  claim 18 , wherein said first amount threshold, said second amount threshold, said credit balance, or any payment balance is modified, withdrawn or adjusted. 
     
     
         29 . A method according to  claim 18 , wherein said credit balance, or any payment balance, comprises a revolving credit balance, a charge credit balance, a line of credit, a credit card account or a charge card account. 
     
     
         30 . A method according to  claim 18 , wherein any payment balance comprises a debit card account, a checking account, a savings account, a money market account, a cash account, or a cash balance.