Method and apparatus for processing financial transactions subject to different financing terms

Abstract

A financial payment vehicle, such as a charge or credit card, provides lower financing terms on purchases that meet specified criteria (i.e. a minimum threshold transaction amount, a purchase from a particular industry or at particular merchants, and/or other enrollment qualifications) and further provides standard financing terms for purchases that do not meet the criteria.

What is claimed is: 
     
         1 . A method comprising:
 determining, by a qualified financial transaction computer-based system, if a financial transaction is a qualified financial transaction for adjusted financing terms, based on an amount of the financial transaction, status of enrollment by a merchant and an enrollment status of a purchaser, wherein the purchaser uses a transaction account authorized by a transaction account provider; and   processing, by the computer-based system, a payment for the financial transaction from the transaction account provider to the merchant for a standard financial transaction and a qualified financial transaction, wherein the processing uses only one single network, and a same set of components within the only one single network.   
     
     
         2 . The method of  claim 1 , further comprising receiving information from the merchant, wherein the information corresponds to the financial transaction between the purchaser and the merchant. 
     
     
         3 . The method of  claim 1 , further comprising charging the purchaser, using a single billing statement generated by the transaction account provider, for the financial transaction according to standard financing terms in response to the determination that the financial transaction is not qualified for the adjusted financing terms. 
     
     
         4 . The method of  claim 1 , further comprising charging the purchaser, using the single billing statement generated by the transaction account provider, for the financial transaction according to adjusted financing terms in response to the determination that the financial transaction is qualified for the adjusted financing terms. 
     
     
         5 . The method of  claim 1 , further comprising transmitting the payment to the merchant. 
     
     
         6 . The method of  claim 1 , wherein the transaction account comprises at least one of a charge card, a credit card, a credit account, a line of credit, an account transponder, an electronic payment, a convenience check, and a debit card. 
     
     
         7 . The method of  claim 1 , wherein the transaction account is accepted by a plurality of merchants in a plurality of industries. 
     
     
         8 . The method of  claim 1 , wherein the amount of the financial transaction is at least equal to a threshold value in order for the financial transaction to qualify for the adjusted financing terms. 
     
     
         9 . The method of  claim 1 , wherein the enrollment status of the merchant is based on an industry code associated with the merchant. 
     
     
         10 . The method of  claim 1 , wherein the enrollment status of the purchaser is based on a credit history of the purchaser and an approved request from the purchaser to participate in the qualified financial transaction. 
     
     
         11 . The method of  claim 1 , wherein the standard financing terms comprise a zero percent interest charge if the amount of the financial transaction is repaid by the purchaser within a single invoicing period. 
     
     
         12 . The method of  claim 1 , wherein the standard financing terms comprise an annual percentage interest rate from 1% to 25% of the amount of the financial transaction if the amount is not repaid by the purchaser within the single invoicing period. 
     
     
         13 . The method of  claim 1 , wherein the adjusted financing terms comprise a zero percent interest charge on the amount of the financial transaction conditioned on full repayment of the amount within a period of time that is greater than one invoicing period. 
     
     
         14 . The method of  claim 13 , wherein the invoicing period is equal to one month and the period of time for repayment is at least equal to three months. 
     
     
         15 . The method of  claim 1 , further comprising retroactively charging the purchaser for the financial transaction according to the standard financing terms if the amount of the financial transaction is not repaid within the period of time by the purchaser. 
     
     
         16 . The method of  claim 1 , further comprising processing the standard financial transaction according to the standard financial terms. 
     
     
         17 . The method of  claim 1 , further comprising:
 approving the standard financial transaction and the qualified financial transaction for the purchaser in a same invoicing period; and   generating a billing statement including the standard financial transaction charged according to the standard financial terms and the qualified financial transaction charged according to the reduced financial terms.   
     
     
         18 . The method of  claim 1 , further comprising charging an adjusted discount rate to a merchant for the qualified transaction, the adjusted discount rate being less than a standard discount rate applied to the standard transaction. 
     
     
         19 . The method of  claim 1 , further comprising receiving a selection of a repayment period for the qualified transaction from the purchaser, wherein the adjusted financing terms are applied if the amount of the financial transaction is repaid by the purchaser within the selected repayment period. 
     
     
         20 . A system comprising:
 a processor configured for processing a qualified financial transaction;   a tangible, non-transitory memory configured to communicate with the processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations;   a determination module in communication with the processor and configured to determine if a financial transaction is a qualified financial transaction for adjusted financing terms, based on an amount of the financial transaction, status of enrollment by a merchant and an enrollment status of a purchaser, wherein the purchaser uses a transaction account authorized by a transaction account provider; and   processing, by the processor, a payment for the financial transaction from the transaction account provider to the merchant for a standard financial transaction and a qualified financial transaction, wherein the processing uses only one single network, and a same set of components within the only one single network.