Importance

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Abstract

A system and method for payment of an item purchased using credit is presented. A system includes financial transaction detection logic and payment logic. The financial transaction detection logic detects that a financial transaction is being initiated at the purchased item. For example, the logic can be implanted in a fare payment device in a bus that was purchased with credit. The transaction logic detects each time a fare is paid to ride the bus. The repayment logic repays a portion of the purchased item (bus) when the financial transaction (fare payment) occurs. Alternatively, the financial transaction detection logic can be inside an electronic handheld device purchased on credit. The logic detects when the device is used to make a purchase or connect to a network. Each of those times, the payment logic can calculate a repayment amount to repay a portion of the handheld device and collect it.

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First Claim