ELECTRONIC PAYMENT SYSTEM WITH PAYER CONTROLLED TRANSACTION FEES AND VARIABLE REBATE CAPABILITIES

摘要

A system makes payments from each payer of a community of payers to each vendor of a community of vendors, assesses a variable transaction fee to each vendor, and provides a variable rebate to the payer. The transaction fee is referred to as “variable” because: i) it may be varied amongst vendors (the same payer may use different rates for different vendors); and ii) the rate may be varied amongst payers (the same vendor may be subjected to different rates, based on the particular payer making the payment). The transaction fee may be charged to the vendor by deduction from the payment. Alternatively the transaction fee may be charged to the vendor by deduction from the vendor's account at the time payment is made. The variable rebate is based on the total transaction fee applicable to payments made by the payer over a predetermined period of time. The rebate may be the product of the total transaction fee multiplied by a rebate percentage. In a two tier system, the rebate may be the sum of: i) product of the total transaction fee multiplied by a base rebate percentage; and ii) the product of that portion of the total transaction fee in excess of an accelerator threshold multiplied by an accelerated rebate percentage.