WO2014167519A2

WO2014167519A2 - System and method for refunding payments made towards purchased products and services

Info

Publication number: WO2014167519A2
Application number: PCT/IB2014/060602
Authority: WO
Inventors: Prasad Reddy KUDIMUSKULA
Original assignee: Kudimuskula Prasad Reddy
Priority date: 2013-04-11
Filing date: 2014-04-10
Publication date: 2014-10-16
Also published as: WO2014167519A3

Abstract

Exemplary embodiments of the present disclosure are directed towards a system and method for refunding online payments and offline payments made towards purchased products and services. The method includes, assigning an authentication card to a user registered with a refunding entity to create a personalized user account, updating the personalized user account with one or more payment credentials corresponding to one or more purchases made with one or more online merchants and one or more offline merchants authorized by the refunding entity and refunding a predefined part of payment to the user by the refunding entity for the purchases made with the one or more online merchants and the one or more offline merchants after a predetermined period of time.

Description

SYSTEM AND METHOD FOR REFUNDING PAYMENTS MADE TOWARDS

PURCHASED PRODUCTS AND SERVICES

TECHNICAL FIELD

[0001] The present disclosure generally relates to the field of commercial transactions. More particularly, the present disclosure relates to a system and method for refunding payments made towards purchased products and services in fixed time limit.

BACKGROUND

[0002] Financial institutions, banks and various other businesses often provide their customers with financial cards such as credit cards, debit cards, ATM cards, and other financial data cards. Such financial cards may be associated with a reward program in which consumers are provided with incentives to utilize such cards. For example, credit card companies often provide reward programs that provide purchasers with rewards for purchases made using their credit cards. In some instances, rewards are only provided when purchases are made for certain items, such as groceries and automobile fuel. The rewards for purchases may include purchase discounts, travel discounts, and "cash back" benefits.

[0003] In some cases the online purchases made with a merchant for very low cost are not so economical and those items does not have any permit of paying through the credit card. Because, the credit card companies might charge 20-35 cents and an additional charge of 2-3% of the item value per credit card transaction. Accordingly, the credit card transaction costs associated with low cost items effectively prevent a satisfactory profitable sale. Thus the purchase of low cost items are referred as "micropayments" and most often they are associated with the sale of articles or magazines that could easily be sold and delivered online in a digital format if the micropayment profitability problem was overcome.

[0004] In the light of aforementioned discussion there exists a need for refunding a predefined part of payment to the user for the purchases made with the online and offline merchants after a predetermined period of time. BRIEF SUMMARY

[0005] The following presents a simplified summary of the disclosure in order to provide a basic understanding to the reader. This summary is not an extensive overview of the disclosure and it does not identify key/critical elements of the invention or delineate the scope of the invention. Its sole purpose is to present some concepts disclosed herein in a simplified form as a prelude to the more detailed description that is presented later.

[0006] A more complete appreciation of the present invention and the scope thereof can be obtained from the accompanying drawings which are briefly summarized below and the following detailed description of the presently preferred embodiments.

[0007] Exemplary embodiments of the present disclosure are directed towards a system and method for refunding online payments and offline payments made towards purchased products and services. According to a first aspect, the method includes assigning an authentication card to a user registered with a refunding entity to create a personalized user account. The personalized details of the user and credentials associated with the authentication card stored in a user database unit. The user registered through an online mode and offline mode to create a personalized user account with the refunding entity.

[0008] According to the first aspect, the method includes updating the personalized user account with one or more payment credentials corresponding to one or more purchases made with one or more online merchants and one or more offline merchants authorized by the refunding entity. The payment credentials updated in the personalized user account maintained in the user database unit while collecting the details of the authorized authentication card. The purchase of products and services are made in an online mode and offline mode or through a direct purchase through card issued by refunding entity. [0009] According to the first aspect, the method includes refunding a predefined part of payment to the user by the refunding entity for the purchases made with the one or more online merchants and the one or more offline merchants or one or more regular merchants (who accept the card of the refunding entity) after a predetermined period of time.

[00010] According to a second aspect, the system for refunding payments made towards purchased products and services includes a merchant device for transmitting payment credentials corresponding to one or more purchases made by the user. The payment credentials further comprising details corresponding to an authentication card issued to the user by the refunding entity. The user enabled to create a user account with the refunding entity through at least one of: a login interface displayed over a data communication device of the user, and a physical registration of the user with the refunding entity. The details corresponding to the authentication card updated in the user account on registering with the refunding entity.

[00011] According to the second aspect, the system includes a refunding database unit coupled to the merchant device for storing the transmitted payment credentials and the details corresponding to an authentication card and determining the authenticity of the merchant device for refunding the predefined part of payment made by the user for the one or more purchases made with the merchant. The merchant authorized by a refunding entity to create a merchant account to be maintained in merchant database unit.

[00012] According to the second aspect, the system includes a user database unit coupled with the refunding database unit for updating a user account with the refunding details and the purchases made with the merchant. The details corresponding to the authentication card enable to determine the authenticity of the user for refunding the predefined part of payment made by the user to the merchant. The system further includes a login interface coupled between the data communication device of the user and the user database unit.

[00013] According to the second aspect, the system includes a data routing unit for enabling a communication between the merchant device, the merchant database unit, refunding database unit and the user database unit. The data routing unit enables a communication between a data communication device of the user, the merchant database unit, refunding database unit and the user database unit.

[00014] According to the second aspect, the system includes an application downloaded to the data communication device from the refunding entity for viewing the user account. The application enables the user to view the purchases made with the merchant and a refunding status for the purchases made with the merchant.

BRIEF DESCRIPTION OF THE DRAWINGS

[00015] Other objects and advantages of the present invention will become apparent to those skilled in the art upon reading the following detailed description of the preferred embodiments, in conjunction with the accompanying drawings, wherein like reference numerals have been used to designate like elements, and wherein:

[00016] FIG. 1 is a block diagram depicting a system for refunding payments made towards purchased products and services.

[00017] FIG. 2 is a flow diagram depicting a method for refunding online payments and offline payments made towards purchase of products and services.

[00018] FIG. 3 is a flow diagram depicting a method for determining the authenticity of a merchant.

[00019] FIG. 4 is a flow diagram depicting a method for determining the authenticity of a user.

[00020] FIG. 5 is a flow diagram depicting a method for refunding the payments to the user for a purchase message transmitted by the user.

DETAILED DESCRIPTION [00021] It is to be understood that the present disclosure is not limited in its application to the details of construction and the arrangement of components set forth in the following description or illustrated in the drawings. The present disclosure is capable of other embodiments and of being practised or of being carried out in various ways. Also, it is to be understood that the phraseology and terminology used herein is for the purpose of description and should not be regarded as limiting.

[00022] The use of "including", "comprising" or "having" and variations thereof herein is meant to encompass the items listed thereafter and equivalents thereof as well as additional items. The terms "a" and "an" herein do not denote a limitation of quantity, but rather denote the presence of at least one of the referenced item. Further, the use of terms "first", "second", and "third", and the like, herein do not denote any order, quantity, or importance, but rather are used to distinguish one element from another.

[00023] Referring to FIG. 1 is a block diagram 100 depicting a system for refunding payments made towards purchased products and services. According to a non limiting exemplary embodiment of the present disclosure, the system includes a data communication device of a user 102, a login interface 104, an authentication card 106, a merchant device 108 and a refunding entity 110. The refunding entity 110 further includes a data routing unit 112, a merchant database unit 114, a refunding database unit 116 and a user database unit 118.

[00024] In accordance with a non limiting exemplary embodiment of the present disclosure, a user enabled to register with a refunding entity 110 is assigned with an authentication card 106 and allowed to create a personalized user account. The personalized user account is created with the refunding entity 110 through a login interface 104 displayed over a data communication device of the user 102 in an online mode and also through a physical registration of the user in an offline mode. The personalized details of the user and the credentials associated with the authentication card 106 are stored in a user database unit 118. The data routing unit 112 coupled between the data communication device of the user 102 and the user database unit 118 is utilized to establish a communication for transmitting the data. The authentication card 106 assigned to the user is used at every purchase made with the online merchants and the offline merchants authorized by the refunding entity 110. The merchants authorized by the refunding entity 110 also create a merchant account which is to be maintained in the merchant database unit 114. The merchants authorized by the refunding entity provide an access to their respective online stores and offline stores for purchase of products and services.

[00025] According to a non limiting exemplary embodiment of the present disclosure, the merchant device 108 located at multiple merchant stores authorized by the refunding entity 110 are used to transmit the payment credentials corresponding to the purchase of products and services made by the user to the refunding database unit 116. The payment credentials may include but not limited to the details of authentication card issued to the user by the refunding entity 110, credentials corresponding to the purchases made by the user and the like. The payment credentials corresponding to the purchases made with the online merchants and the offline merchants are updated in the personalized user account maintained in the user database unit 118 by collecting the details of the authentication card 106. The refunding database unit 116 coupled to the merchant device 108 stores the transmitted payment credentials and the details corresponding to an authentication card 106 to determine the authenticity of the merchant device 108 for refunding the predefined part of payment made by the user for the purchases made with the merchant.

[00026] In accordance with a non limiting exemplary embodiment of the present disclosure, a user database unit 118 is coupled with the refunding database unit 116 to update a personalized user account with the refunding details and the purchases made with the merchant in the respective online and offline stores. The details corresponding to the authentication card 106 used at the merchant device 108 is used to determine the authenticity of the user for refunding the predefined part of payment made by the user to the merchant. The data routing unit 112 is enabled to establish a communication between the merchant device 108 and the merchant database unit 114, refunding database unit 116 and the user database unit 118. Further, the user is also enabled to download an application to the data communication device 102 from the refunding entity 110 for viewing the user account, purchases made with the merchant and their respective refunding status.IN accordance with non limiting exemplary aspect of the present invention, the user is also enabled to purchase the products or services using the authenticated card 106.

[00027] Referring to FIG. 2 is a flow diagram depicting a method for refunding online payments and offline payments made towards purchased products and services. According to a non limiting exemplary embodiment of the present disclosure the method of refunding online payments and offline payments starts at step 202 by registering as a user with a refunding entity. At step 204 the registered user is assigned with an authentication card to create a personalized user account. Next at step 206 the assigned authentication card may be used by the user at every purchase made with the online merchants and offline merchants authorized by the refunding entity.

[00028] In accordance with a non limiting exemplary embodiment of the present disclosure, at step 208 the payment credentials corresponding to the purchase of products and services made by the user are transmitted from the merchant device to the merchant database unit through a data routing unit. Next at step 210 the transmitted payment credentials and details corresponding to an authentication card are stored in the refunding database unit. The transmitted payment credentials corresponding to the purchases made with online merchants and offline merchants are updated in the personalized user account maintained in the user database unit at step 212. Further, at step 214 the authenticity of the merchant device is determined by the refunding database unit to refund the predefined part of payment made by the user after a predetermined period of time.

[00029] Referring to FIG. 3 is a flow diagram 300 depicting a method for determining the authenticity of a merchant. According to a non limiting exemplary embodiment of the present disclosure, the method starts at step 302 by transmitting the payment credentials and details of merchant corresponding to the purchase of products and services made by the user to the merchant database unit through a data routing unit.

[00030] In accordance with a non limiting exemplary embodiment of the present disclosure, at step 304 the authenticity of the merchant device is determined in accordance with the transmitted details of merchant to the merchant database unit. The details of merchant may include but not limited to the personalized details, purchase details of products and services and payment credentials made by the user for the purchased products and service and the like from the corresponding online and offline stores of a merchant. Next at step 306 the payment credentials and the details corresponding to the purchases made with the merchant are stored in the refunding database unit. Further, at step 308 the predefined part of payment made for the purchase of products and service with the merchant is refunded to the user by the refunding entity after a predetermined period of time.

[00031] Referring to FIG. 4 is a flow diagram 400 depicting a method for determining the authenticity of a user. According to a non limiting exemplary embodiment of the present disclosure, the method starts at step 402 by transmitting the payment credentials and details corresponding to the authentication card to a refunding entity. The authentication card issued to a user registered with the refunding entity is utilized at every purchase of products and services made with the online and offline merchants authorized by the refunding entity.

[00032] In accordance with a non limiting exemplary embodiment of the present disclosure, at step 404 the authenticity of the user is determined in accordance with the transmitted details of the authentication card assigned to the user. Next at step 406 the payment credentials and details corresponding to the authentication card are stored in a personalized user account maintained in the user database unit. Further, at step 408 the predefined part of payment made for the purchase of products and services is refunded to the user by the refunding entity after a predetermined period of time.

[00033] Referring to FIG. 5 is a flow diagram 500 depicting a method for refunding the payments to the user for a purchase message transmitted by the user. The method starts at step 502 whereby the user transmits a purchase message from the data communication device for updating in the refunding unit. The purchase message transmitted by the user may include but not limited to a combination of a purchased product details, price of the purchased account, details of the manufacturer or seller of the product along with the details of the authentication card issued to the user. The product or service purchased by the user for receiving the refund is authorized by the refunding entity. The user transmits the message from a contact number registered with the refunding entity. Next at step 504, the purchase message transmitted by the user is stored in refunding database unit. The authenticity of the received message is determined for refunding the predefined part of payment made by the user for the purchases made by the user. The purchase message further updated in a user database unit. Finally, at step 506 a predefined part of payment for the purchase made is refunded to the user after a predetermined period of time by the refunding entity.

[00034] While specific embodiments of the disclosure have been shown and described in detail to illustrate the inventive principles, it will be understood that the discloure may be embodied otherwise without departing from such principles.

Claims

CLAIMS: What is claimed is:

1. A method for refunding online payments and offline payments made towards purchased products and services, the method comprising: assigning an authentication card to a user registered with a refunding entity to create a personalized user account, whereby personalized details of the user and credentials associated with the authentication card stored in a user database unit; updating the personalized user account with one or more payment credentials corresponding to one or more purchases made with one or more online merchants and one or more offline merchants authorized by the refunding entity, whereby the payment credentials updated in the personalized user account maintained in the user database unit while collecting the details of the authorized authentication card; and refunding a predefined part of payment to the user by the refunding entity for the purchases made with the one or more online merchants and the one or more offline merchants after a predetermined period of time.

2. The method of claim 1 comprising a step of registering through an online mode to create a personalized user account with the refunding entity.

3. The method of claim 1 comprising a step of registering in an offline mode to create a personalized user account with the refunding entity.

4. The method of claim 1 comprising a step of purchasing products and services in an online mode.

5. The method of claim 1 comprising a step of purchasing products and services in an offline mode.

6. The method of claim 1 comprising a step of enabling the user to make the online and offline purchases using the authentication card.

7. A system for refunding payments made towards purchased products and services, the system comprising: a merchant device for transmitting payment credentials corresponding to one or more purchases made by the user, whereby the payment credentials further comprising details corresponding to an authentication card issued to the user by the refunding entity; a refunding database unit coupled to the merchant device for storing the transmitted payment credentials and the details corresponding to an authentication card and determining the authenticity of the merchant device for refunding the predefined part of payment made by the user for the one or more purchases made with the merchant, whereby the merchant authorized by a refunding entity to create a merchant account to be maintained in merchant database unit; and a user database unit coupled with the refunding database unit for updating a user account with the refunding details and the purchases made with the merchant, whereby the details corresponding to the authentication card enable to determine the authenticity of the user for refunding the predefined part of payment made by the user to the merchant.

8. The system of claim 6, wherein the user enabled to create a user account with the refunding entity through at least one of: a login interface displayed over a data communication device of the user; and a physical registration of the user with the refunding entity.

9. The system of claim 6, wherein the details corresponding to the authentication card updated in the user account on registering with the refunding entity.

10. The system of claim 6, where in a data routing unit enables a communication between the merchant device, the merchant database unit, refunding database unit and the user database unit.

11. The system of claim 9, where in the data routing unit enables a communication between a data communication device of the user, the merchant database unit, refunding database unit and the user database unit.

12. The system of claim 6, wherein a login interface coupled between the data communication device of the user and the user database unit.

13. The system of claim 6, wherein a user enabled to download an application to the data communication device from the refunding entity for viewing the user account.

14. The system of claim 13, wherein the application enables the user to view the purchases made with the merchant.

15. The system of claim 13, wherein the user enables to view a refunding status for the purchases made with the merchant.

16. A method for refunding payments made towards purchased products and services, the method comprising: receiving a purchasing message transmitted by a user data communication device by a refunding database unit, whereby the message composed by the user in a predetermined format comprising one or more purchase credentials, an unique identification code of an authentication card issued to the user; and storing the message in a refunding database unit and determining the authenticity of the received purchasing message for refunding the predefined part of payment made by the user for the purchases made by the user, whereby the purchase message further updated in a user database unit; and refunding a predefined part of payment to the user after a predetermined period of time by the refunding entity for the purchases made by the user, whereby a product or service purchased by the user for receiving the refund is authorized by the refunding entity.