Method and apparatus for conditional payment to a seller
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United States of America Patent
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Aug 24, 2010
Grant Date -
N/A
app pub date -
Mar 28, 2000
filing date -
Dec 1, 1999
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A system and method for conducting conditional payments includes receiving an application for a financial account and an authorization to credit an amount to the financial account. Information identifying a substitute collection technique is also received. The transaction is then finalized after receipt of both the application for the financial account and the authorization. The transaction can be finalized in several different ways, depending upon whether the application is approved or rejected. For example, if the application is approved, the transaction can be finalized by crediting the financial account by a first amount, which may represent, for example, the price of an item sold by a seller plus an incentive amount. If, however, the application is rejected, the transaction can be finalized by changing a second amount, without the incentive, to collection technique.
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