AU2012100253A4 - Bill Direct - Google Patents

Abstract

Abstract Bill Payment System

Description

1 Description At present there are a number of online or electronic bill payment platforms and systems. These platforms allow a user to transfer funds from authorised bank accounts and credit cards to a nominated third party account i.e the biller for the purpose of payment for services rendered, products purchased or future services and/or products. Each system currently available to the public has limitations. These systems essentially provide the user with a convenient method to pay their bills. Most provide a history of previous payments made via the same system and also enable the user to schedule a payment or several reccuring or one time payments on a specific date in the future. The innovation of the bill payments sytem which is the focus of this application is based on the consolidation of a number of known processes into a single system thus providing for a platform that is novel and not available in the market place. A search of the patents register also confirms that such a innovative approach is yet to be patented: The technical details are described in detail below: *The bill payment system allows the user to add and setup direct debit agreements with multiple bank accounts and credit cards from varying financial institutions for the purpose of paying bills of billers ("customers") who are registered members of the platform in question. *The system allows users to add multiple bills and setup a number of metrics which are designed to allow the user to manage the payment of thier bills and also establish reminders via email, text and sms that will notify the user when a bill is due and payable and also provide the user with the ability make payment of bills upon receiving a notification *The bill payment system calculates and generates rewards points based on whether a bill is paid on or before the due date. Reward points can be reedemed for gifts stipulated by the system or used to make payment on bills where there are sufficient points that have accumulated. Rewards points are determined and paid by the customer. *The system will generate reports and graphs which detail the payment patterns of the user such as average payment times including the ability to sort by a number of key metrics. *Ability to pay multiple bills in a single instance - this process is simply achieved via the selection of the bills which the users wishes to pay. *The system will also be supported by applications on numerous hand held and mobile devices and operating systems this will thus allow users the ability to connect to the system directly.

2 The application of the afore mentioned features is innovative and together have not been applied.