Methods, System and Associated Computer Executable Code for Facilitating Credit Transactions

Abstract

Disclosed is a system and method for Facilitating Credit Transactions, which may allow for the division of a given purchase or cash-withdrawal transaction amount, into periodical installments by enabling the financing of said transaction.

1 . A method for facilitating credit based transactions associated with purchase or lease of goods, a service or real estate having a cost, said method comprising:
 receiving over a data network the data indicating the cost of a good or service;   securitizing over a data network the cost of the transaction against a credit line provided by a primary credit provider;   funding at least part of the transaction upon securitization;   intermittently receiving partial payment; and   intermittently re-securitizing an outstanding balance.   
     
     
         2 . The method according to  claim 1 , wherein partial payment is received from the primary credit provider. 
     
     
         3 . The method according to  claim 2 , wherein partial payment is received from a purchaser of the good or service. 
     
     
         4 . The method according to  claim 1 , further comprising:
 receiving full balance payment from the primary credit provider upon a re-securitizing failure.   
     
     
         5 . The method according to  claim 1 , wherein intermittently receiving partial payment includes receiving one of a set of equal partial payments according to a predefined payment schedule. 
     
     
         6 . The method according to  claim 5 , wherein the partial payment is substantially equal to the funded amount plus financing fees and divided by the number of payments to be made. 
     
     
         7 . The method according to  claim 1 , wherein intermittently receiving partial payment includes receiving one of a set of non-equal partial payments. 
     
     
         8 . The method according to  claim 1 , wherein securitizing the cost of the transaction over a data network comprises issuing a credit request and receiving credit authorization. 
     
     
         9 . The method according to  claim 1 , wherein intermittently re-securitizing an outstanding balance comprises issuing credit request and receiving credit authorization. 
     
     
         10 . The method according to  claim 1 , wherein intermittently receiving partial payment further includes receipt of transaction related financing costs. 
     
     
         11 . The method according to  claim 1 , wherein intermittently receiving partial payment further includes receipt of commission costs. 
     
     
         12 . The method according to  claim 1 , wherein a payment plan is amended and custom-made to Consumer needs. 
     
     
         13 . The method according to  claim 1 , wherein a payment is accepted from a different source if current payment is declined. 
     
     
         14 . The method according to  claim 1 , wherein a transaction is funded through the merchant. 
     
     
         15 . The method according to  claim 1 , wherein a transaction funding is divided between several sources of funding. 
     
     
         16 . The method according to  claim 1 , wherein a down-payment, for purchases which are at least partially funded by the loan, is funded by dividing the down-payment cost to installments 
     
     
         17 . A transaction system comprising:
 one or more transaction servers including collective control logic adapted to: (1) receive over a data network the data indicating the cost of a good or service; (2) securitize over a data network the cost of the transaction against a credit line provided by a primary credit provider; (3) fund the transaction upon securitization; (4) intermittently receive partial payment from the primary credit provider; and (5) intermittently re-securitize an outstanding balance.   
     
     
         18 . The system according to  claim 17 , further comprising a securitization module adapted to securitize the cost of the transaction. 
     
     
         19 . The system according to  claim 18 , wherein said securitization module is further adapted to receive data relating to the number and/or sum of said partial payments. 
     
     
         20 . The system according to  claim 18 , wherein said securitization module is further adapted to receive the data indicating the cost of a good or service from a merchant agent selected from a group consisting of Terminal Merchant Agent, On-Line Merchant Agent, Check-out Provider Agent and Cash Withdrawal Agent.