Methods and systems for coordinating pooled financial transactions

Abstract

Methods and systems are provided for processing a financial transaction. A set of conditions is received that define circumstances for execution of the financial transaction. Funds are collected for each of a plurality of partial payments prior to satisfaction of the set of conditions, with at least two of the partial payments being collected from different persons. The collected funds are accumulated for support of the financial transaction until satisfaction or failure of the set of conditions.

1 . A method comprising:
 receiving, at a host computer system, information that defines a beneficiary and a first condition for execution of a financial transaction;   receiving, at the host computer system, information regarding collection of a plurality of partial payments, wherein each of the plurality of partial payments is prohibited from originating from a particular source;   recording, by the host computer system, an accumulation of collected funds for support of the financial transaction;   determining by the host computer system, whether the first condition has been satisfied; and   causing, by of the host computer system, the accumulation of collected funds to be transferred to the beneficiary upon or after satisfaction of the first condition.   
     
     
         2 . The method of  claim 1 , wherein:
 at least two of the partial payments are collected from different entities.   
     
     
         3 . The method of  claim 1 , wherein the first condition comprises:
 the accumulation of collected funds equaling or exceeding a total transaction amount.   
     
     
         4 . The method of  claim 1 , wherein the first condition comprises:
 a particular time being reached.   
     
     
         5 . The method of  claim 1 , wherein at least one of the plurality of partial payments comprises:
 a payment from a card account.   
     
     
         6 . The method of  claim 1 , wherein the method further comprises:
 receiving, at the host computer system, a second condition, wherein the second condition represents a change in the first condition.   
     
     
         7 . The method of  claim 1 , wherein the method further comprises:
 generating, by the host computer system, a notification to each entity which provided funds for each of the plurality of partial payments.   
     
     
         8 . A non-transitory machine readable medium having instructions stored thereon, the instructions executable by a processor to at least:
 receive information that defines a beneficiary and a first condition for execution of a financial transaction;   receive information regarding collection of a plurality of partial payments, wherein each of the plurality of partial payments is prohibited from originating from a particular source;   record an accumulation of collected funds for support of the financial transaction;   determine whether the first condition has been satisfied; and   cause the accumulation of collected funds to be transferred to the beneficiary upon or after satisfaction of the first condition.   
     
     
         9 . The non-transitory machine readable medium of  claim 8 , wherein:
 at least two of the partial payments are collected from different entities.   
     
     
         10 . The non-transitory machine readable medium of  claim 8 , wherein the first condition comprises:
 the accumulation of collected funds equaling or exceeding a total transaction amount.   
     
     
         11 . The non-transitory machine readable medium of  claim 8 , wherein the first condition comprises:
 a particular time being reached.   
     
     
         12 . The non-transitory machine readable medium of  claim 8 , wherein at least one of the plurality of partial payments comprises:
 a payment from a card account.   
     
     
         13 . The non-transitory machine readable medium of  claim 8 , wherein the instructions are further executable by the processor to at least:
 receive a second condition, wherein the second condition represents a change in the first condition.   
     
     
         14 . The non-transitory machine readable medium of  claim 8 , wherein the instructions are further executable by the processor to at least:
 generate a notification to each entity which provided funds for each of the plurality of partial payments.   
     
     
         15 . A system comprising:
 a host computer system configured to:   receive information that defines a beneficiary and a first condition for execution of a financial transaction;   receive information regarding collection of a plurality of partial payments, wherein each of the plurality of partial payments is prohibited from originating from a particular source;   record an accumulation of collected funds for support of the financial transaction;   determine whether the first condition has been satisfied; and   cause the accumulation of collected funds to be transferred to the beneficiary upon or after satisfaction of the first condition.   
     
     
         16 . The system  claim 15 , wherein:
 at least two of the partial payments are collected from different entities.   
     
     
         17 . The system  claim 15 , wherein the first condition comprises:
 the accumulation of collected funds equaling or exceeding a total transaction amount.   
     
     
         18 . The system  claim 15 , wherein the first condition comprises:
 a particular time being reached.   
     
     
         19 . The system  claim 15 , wherein the host computer is further configured to:
 receive a second condition, wherein the second condition represents a change in the first condition.   
     
     
         20 . The system  claim 15 , wherein the host computer is further configured to:
 generate a notification to each entity which provided funds for each of the plurality of partial payments.