Patent ID: 8380591
Filing Date: 2013-02-19
Classification: G06Q

Abstract:
1. A method of operating a bill payment system comprising: receiving a first set of account terms associated with a first account, wherein the first set of account terms includes penalty information associated with the first account; receiving a second set of account terms associated with a second account, wherein the second set of account terms includes penalty information associated with the second account; receiving a first bill associated with the first account and a second bill associated with the second account, wherein the first bill has a first due date and the second bill has a second due date and wherein the first bill and the second bill are received separately from the first and the second sets of account terms; processing the first bill and the second bill based on the respective sets of account terms, the respective due dates, and the respective penalty information to determine penalties associated with the bills; and determining a ranking of the bills based on the penalties, wherein the ranking includes an order of payment of the first bill and the second bill that minimizes the penalties.