Patent ID: 7917435
Filing Date: 2011-03-29
Classification: G06Q

Abstract:
1. A method for facilitating account restructuring in an electronic bill payment system with a plurality of participating entities comprising a plurality of receivers and a plurality of originators, said method comprising the steps of: providing an apparatus, wherein said apparatus comprises a hardware processor and a plurality of software modules embodied on a tangible computer useable recordable storage medium, said hardware processor being configured to execute said software modules, said software modules being configured to interface with said electronic bill payment system, and wherein said software modules comprise a data-file obtaining module, a conversion data structure placement module, a remittance data obtaining module, and a remittance data routing module; obtaining a data file indicative of an account restructuring of a given one of said plurality of receivers, said data file specifying at least one old account number associated with said given one of said plurality of receivers and at least one new account number associated with said given one of said plurality of receivers, wherein said obtaining of said data file is performed by said data-file obtaining module, executing on said hardware processor, obtaining said file over a network; placing said at least one old account number and said at least one new account number associated with said given one of said plurality of receivers in a conversion data structure in a format to facilitate account number conversion, wherein said placing is performed by said conversion data structure placement module, executing on said hardware processor, storing said conversion data structure in said tangible computer-usable recordable storage medium; obtaining remittance data from a given one of said participating entities, said remittance data comprising an indication of one of said old account number of said given one of said plurality of receivers and said new account number of said given one of said plurality of receivers, wherein said obtaining of said remittance data is carried out by said remittance data obtaining module, executing on said hardware processor, obtaining said remittance data over said network; and routing said remittance data in accordance with: wherein: said routing is performed by said remittance data routing module, executing on said hardware processor, routing said remittance data over said network; said remittance data comprises one of a payment and a reversal; said given one of said participating entities comprises a given one of said plurality of originators; and said routing step comprises routing said one of a payment and a reversal to a single new account number associated with said given one of said plurality of receivers.