ELECTRONIC PAYMENT SYSTEM UTILIZING INTERMEDIARY ACCOUNT
Payments in cash are submitted to a merchant at a point of sale. The payment transaction is effected electronically to credit the end user's intermediary account. Subsequent electronic communications between the intermediary account and a vendor site effect payment to the vendor for goods or services on behalf of the end user. This system leverages the existing credit card payment system in reverse so as to provide the convenience of submitting cash payments at a multitude of merchant locations.
1 - 49 . (canceled)
50 . A method for making payments for payees, comprising:
receiving data in an computer system indicating payments have been received from each of a plurality of payors;
receiving instructions in said computer system to make a payment to a third party specified by said each of said plurality of the payors; and
transmitting said payments from said computer system to each of said specified third parties for each of said plurality of payors.
51 . The method of claim 50 , further comprising:
associating, in said computer system, each of said received instructions to make a payment for one of said plurality of payors with received data indicating that an appropriate payment has been received from said one of said payors before transmitting said payments.
52 . The method of claim 50 , wherein receiving data in said computer system indicating payments have been received from each of a plurality of payors, further comprises:
receiving said data in said computer system from each of a plurality of payment receiving systems associated with said plurality of payors.
53 . The method of claim 52 , wherein said plurality of payment receiving systems include merchants receiving cash payments from more than one of said plurality of payors.
54 . The method of claim 52 , wherein said plurality of payment receiving systems include merchants receiving credit card payments from said plurality of payors.
55 . The method of claim 52 , wherein said plurality of payment receiving systems include merchants receiving debit card payments from said plurality of payors.
56 . The method of claim 52 , wherein said plurality of payment receiving systems include payment systems accessed via internet by said plurality of payors.
57 . The method of claim 50 , wherein transmitting said payments from said computer system to each of said specified third parties for said plurality of payors further comprises:
transmitting a plurality of said payments to one of said third parties as a single transaction.
58 . The method of claim 50 , wherein receiving data in said computer system indicating payments have been received from each of a plurality of payors, further comprises:
receiving said data in said computer system from merchants receiving cash payments from more than one of said plurality of payors.
59 . The method of claim 50 , wherein receiving data in said computer system indicating payments have been received from each of a plurality of payors, further comprises:
receiving said data in said computer system from merchants receiving debit or card payments from said plurality of payors.
60 . The method of claim 50 , wherein receiving data in said computer system indicating payments have been received from each of a plurality of payors, further comprises:
receiving said payment data in said computer system via the internet from each of said plurality of payors.
61 . The method of claim 50 , wherein transmitting said payments from said computer system to each of said specified third parties for said plurality of payors further comprises:
transmitting a plurality of said payments to one of said third parties as a single transaction.