SYSTEM AND METHOD FOR IMPLEMENTING FRICTIONLESS MICROPAYMENTS FOR CONSUMABLE SERVICES

摘要

The present invention is directed to a system, method and software program product for implementing a policy payment agent which, based on policy thresholds set by the consumer, determines whether or not autonomously issue a payment. Initially, the consumer sets the payment policy through the selection of payment parameters such as the type of consumable or transaction, maximum one-time payment amount, and recent spending rate. If the payment request meets the payment policy criteria, then the payment agent autonomously issues a payment. Otherwise, the request is passed to the user for manual intervention.