Showing papers on "Payment service provider published in 1992"

System and method for paying bills electronically

Abstract: An electronic bill payment system and method include billing equipment for creating approval records and generating approval numbers for each pre-authorized subscriber. The system also includes an interactive payment approval apparatus into which subscribers dial to approve payment and which determines, based upon information collected, whether to initiate electronic funds transfer. An approval record data base and a call history log data base are also part of the bill payment system. To approve electronic bill payment a subscriber, once pre-authorized, need only dial up the payment approval apparatus and enter the assigned approval number. A series of security checks and comparisons are performed to guard against accidental and malicious entry of approval numbers. Once all security checks are cleared, a confirmation number is announced to the subscriber, and an electronic funds transfer is initiated.

System for remote purchase payment transactions and remote bill payments

Abstract: It is the object of this invention to provide a terminal and system to allow debit and credit card holders the ability to conveniently perform various transactions from their home or office. The terminal is a single device, which has an alphabetic QWERTY keyboard, a numeric touch tone type keypad, miscellaneous other keys, a magnetic card reader, a display, a printer, a modem, and a serial port. The terminal firmware supports various financial transactions including: purchase payment, bill payment, and settlement review. The terminal supports initialization, encryption, transaction generation, transaction transmission and data reception from a host system and receipt printing. A local data base including a transaction log and a profile list are maintained in the terminal memory. The transaction log stores purchase payment information and is stored as a stack and the profile list has entries for each specific bill pay account.

Health care payment adjudication and review system

Abstract: A computerized expert system reviews and adjudicates medical health care payment requests made by physicians to payers, such as insurers, for procedures performed and services and materials rendered to patients in the course of treatment. The system adjudicates a payment request to minimize fraud and mistakes and to determine whether to honor the request and if the request is honored, the dollar amount of the payment. The expert system reviews the payment request based on user-specified review criteria. Such criteria reflects contractual arrangements between payers, providers and patients, current, locally acceptable medical practices and patient and provider payment request patterns. To perform the review, the expert system obtains relevant prior payment requests as necessary according to the user's pre-determined review criteria; defines a master list of payable payment requests given current medical procedures, the predetermined parameters of the review and specific contractual arrangements between the payer, patient and health care provider; analyses the current payment request according to the relevant historical payment requests and the master payable list by applying user-defined interpretive rules to this information; and develops and reports payment decisions based on that analysis.

Deposit Banks and the Market for Payment Media

Abstract: This paper develops a model of bank deposit pricing with optimal consumer choices of spending shares among alternative media of exchange. Interpreting deposits as a tie-in feature of the sale of bank payment services, the paper shows that the wedge between consumer and social costs of currency use may reverse typical prescriptions regarding bank market structure and distortionary taxes on banks. An explanation is offered for below-cost bank service fees, despite deregulated deposit interest rates, while rate ceilings are shown to induce substitution into payment media with higher social costs. Copyright 1992 by Ohio State University Press.

Charge adjustment system using ic card

Abstract: PURPOSE: To provide a charge adjustment system which can attain a payment method with a high degree of freedom in each shop with use of the IC cards. CONSTITUTION: Each member shop is provided with a card reader/writer device 31r which can transfer the data to the IC cards 40 distributed to the customers. Then, the information are transferred between those devices 31r and a host computer 10 which performs the integrated control of the charge adjustment. The card 40 includes the recording areas for (1) the prepaid balance, (3) the credit balance, and (4) the service point balance respectively. Thus, the customers can choose the desired one of four payment methods, that is, the payment with the prepaid balance, the payment with totalization of the credit, the payment with the service points, and the payment with cash, respectively. The balance of the card 40 is rewritten according to the contents of the chosen payment method. The contents of the payment methods are also reported to the computer 10. COPYRIGHT: (C)1993,JPO&Japio

Apparatus for and method of bill payment

Abstract: A computerized payment system by which a consumer may instruct a service provider by telephone, computer terminal, or other telecommunications means (34) to pay various bills without the consumer having the write a check for each bill. The system operates without restriction as to where the consumer banks and what bills are to be paid. The service provider collects consumers' information, financial institutions' information and merchant information and arranges payment based on a financial risk analysis to the merchants according to the consumers' instructions.

Payment systems in New Zealand

Abstract: An introduction to the methods of payments; risks involved; and the soundness of the payment system

Information Technology and the Restructuring of Banking Services

Abstract: This paper aims at contributing to the shaping of a new definition of banking. While banks have traditionally offered asset transformation, information-intensive lending, and payment services, recent advances in information processing and data communications have had such a strong influence that the provision of each of these services is now becoming distinctly separate. Thus, the conventional image of banks does not fit the reality. This paper examines the impact of new technology on banking and examines the resultant changes it has occasioned. Some policy implications are also briefly discussed.

Electronic Payment Systems: Winning New Customers

Abstract: The genesis of electronic payment systems automated teller machines electronic transfer at point of sale (EFTPoS) telephone banking smart cards bringing an electronic payment systems to market electronic payment systems in action is the customer always right? the future of electronic payment systems.

IC cards for payment system applications

Abstract: Summary form only given. The ability of the IC card to actively participate in a payment transaction provides perspectives for improved security based on an extensive use of cryptography. This feature in combination with the inherent potential for secure physical storage of large amounts of data allows for new ways of payment to be explored. Most experts are of the opinion that the large-scale use of IC cards cannot be justified by security considerations only. The successful introduction of IC card technology in the banking environment depends on the ability to support new applications. Another critical success factor for the acceptance of IC cards is the availability of international standards. Expectations are high that IC cards will eventually become a major player in payment transactions all over Europe by the year 2000. >

Payment areas for physician services.

Abstract: An important aspect of the Medicare Fee Schedule is defining payment areas for physician services. This paper analyzes the accuracy of alternative geographic configurations in tracking physician practice input price differences among counties. Tradeoffs among accuracy in accounting for input price variation, number and complexity of payment areas, and payment differences across area boundaries are also discussed.