Method for minimizing financial risk for wireless services

Details Method for minimizing financial risk for wireless services Method for minimizing financial risk for wireless services

2011-06-07

2011-06-07

Felten, Daniel S (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S03600T, C705S03600T, C705S037000, C705S038000, C705S039000, C705S040000, C705S041000, C705S042000

Reexamination Certificate

active

07958029

ABSTRACT:
A method and system for managing financial risk through the use of postpaid processing during use of wireless services is presented within the scope of the following invention. The present invention uses credit card authorization to pre-reserve credit card funds for wireless services in excess of planned usage. Authorizations eliminate the credit risk associated with overages and payment timing, and also maintain a customer experience identical to postpaid processing. The authorizations are invisible to the customer and no charge is brought to a customer's credit card until the monthly bill is settled. Separating the authorization and settlement stages of retail wireless payment processing allows the branded wireless provider to avoid inherent areas of credit risk during the tenure of a customer's wireless service, while maintaining a familiar customer experience.

REFERENCES:
patent: 5068891 (1991-11-01), Marshall
patent: 5450477 (1995-09-01), Amarant et al.
patent: 5677945 (1997-10-01), Mullins et al.
patent: 5729460 (1998-03-01), Plett et al.
patent: 5844972 (1998-12-01), Jagadish et al.
patent: 5951633 (1999-09-01), Polcyn
patent: 6009155 (1999-12-01), Adachi
patent: 6195420 (2001-02-01), Tognazzini
patent: 6208720 (2001-03-01), Curtis et al.
patent: 6226364 (2001-05-01), O'Neil
patent: 6404870 (2002-06-01), Kia et al.
patent: 6665387 (2003-12-01), Hannu
patent: 6785534 (2004-08-01), Ung

Affiliated with

Also associated with

Rating

Method for minimizing financial risk for wireless services does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Method for minimizing financial risk for wireless services, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Method for minimizing financial risk for wireless services will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-2725031