Patent ID: 7039593
Filing Date: 2006-05-02
Classification: G06Q

Abstract:
1. A method of payment for a transaction comprising the steps of: establishing a transaction total; storing convergence information on a portable storage medium, said convergence information including data about a plurality of payment sources for the transaction and said convergence information including processing instructions, said processing instructions including order information for utilization of said plurality of payment sources; obtaining said convergence information from said storage medium at a point of sale terminal while said storage medium is located at the location of said point of sale terminal; processing of said order information by said point of sale terminal to determine from said plurality of payment source, a primary payment source to be utilized first for the transaction, and at least one secondary payment source to be utilized for the transaction after said primary payment source is utilized; utilizing of said convergence information to communicate electronically through said point of sale terminal with said primary payment source to establish a primary payment amount from said primary payment source; determining a secondary payment amount to be obtained from said at least one secondary payment source to satisfy said transaction total; and utilizing of said convergence information to communicate electronically through said point of sale terminal with said at least one secondary payment source to secure payment of said secondary payment amount; wherein at least two payment sources are utilized to satisfy said transaction total.