Method for electronic transaction settlement

Abstract

A method implemented in an electronic communication system associated with a settlement house for settling an electronic transaction between a customer and a merchant. The communication system receives through a first electronic communication path a first account identifier of a first account associated with the customer and a transaction amount from the merchant, contacts the customer through a second electronic communication path to allow the customer to select a payment method, and sends through a third electronic communication path the transaction amount and a second account identifier of a second account associated with the customer to a financial services provider associated with the payment method.

What is claimed is: 
     
         1 . A method implemented in an electronic communication system associated with a settlement house for settling an electronic transaction between a customer and a merchant, the method comprising:
 receiving in the system from the merchant through a first electronic communication path a first account identifier of a first account associated with the customer at the settlement house and a transaction amount;   contacting in the system the customer through a second electronic communication path to allow the customer to select a payment method; and   sending in the system through a third electronic communication path the transaction amount and a second account identifier of a second account associated with the payment method to a financial services provider associated with the payment method.   
     
     
         2 . The method of  claim 1  further comprising:
 transmitting in the system an approval response from the financial services provider to the customer; and 
 transmitting in the system customer approval from the customer to the financial services provider. 
 
     
     
         3 . The method of  claim 2  further comprising:
 sending in the system a transaction record to a bank associated with the merchant. 
 
     
     
         4 . The method of  claim 1 , wherein the second account identifier is one of a credit card number and a debit card number. 
     
     
         5 . The method of  claim 1 , wherein the financial service provider is a bank. 
     
     
         6 . The method of  claim 1 , wherein the financial services provider is not a bank or credit provider. 
     
     
         7 . A method implemented in an electronic communication system associated with a settlement house for settling an electronic transaction between a customer and a merchant, the method comprising:
 receiving in the system from the merchant through a first electronic communication path a first account identifier of a first account associated with the customer at the settlement house and a transaction amount;   contacting in the system the customer through a second electronic communication path to allow the customer to select a first payment method;   sending in the system through a third electronic communication path the transaction amount and a second account identifier of a second account associated with the first payment method to a first financial services provider associated with the first payment method;   transmitting in the system a denial response from the first financial services provider to the customer;   receiving in the system from the customer the selection of a second payment method; and   sending in the system the transaction amount and a third account identifier of a third account associated with the second payment method to a second financial services provider associated with the second payment method.   
     
     
         8 . The method of  claim 7  further comprising:
 transmitting in the system an approval response from the second financial services provider to the customer; and 
 transmitting in the system a customer approval from the customer to the second financial services provider. 
 
     
     
         9 . The method of  claim 8  further comprising:
 sending in the system a transaction record to a bank associated with the merchant. 
 
     
     
         10 . The method of  claim 7 , wherein the second account identifier is one of a credit card number and a debit card number. 
     
     
         11 . The method of  claim 7 , wherein the first financial services provider is a bank. 
     
     
         12 . The method of  claim 1 , wherein the first financial services provider is not a bank or credit provider. 
     
     
         13 . A method implemented in an electronic communication system associated with a settlement house for settling an electronic transaction between a customer and a merchant, the method comprising:
 receiving in the system from the merchant through a first electronic communication path a first account identifier of a first account associated with the customer at the settlement house and a transaction amount;   sending in the system through a second electronic communication path the transaction amount and a second account identifier of a second account associated with the customer to a financial services provider associated with the second account; and   receiving in the system through a third electronic communication path an approval of the customer of the electronic transaction.   
     
     
         14 . The method of  claim 13  further comprising:
 transmitting in the system an approval response from the financial services provider to the customer. 
 
     
     
         15 . The method of  claim 14  further comprising:
 sending in the system a transaction record to a bank associated with the merchant. 
 
     
     
         16 . The method of  claim 13 , wherein the second account identifier is one of a credit card number and a debit card number. 
     
     
         17 . The method of  claim 13 , wherein the financial services provider is a bank. 
     
     
         18 . The method of  claim 13 , wherein the financial services provider is not a bank or credit provider.