Patent ID: 12243034

DETAILED DESCRIPTION

Referring generally to the figures, utility distribution and payment systems and methods are described in which a financial institution individually bills and collects from individual utility users and provides batch payment to the utility company. The financial institution facilitates the aggregate utility billing by agreeing with a utility company to serve as a billing service for a subset of utility and banking customers. Each of the customers agrees to participate in the billing service offered by the financial institution. The utility company provides the utility to the customers via smart meters located at the properties receiving the utility (e.g., the customer's home, business, or other property). The smart meters provide individualized usage information to both the utility company and the financial institution. At the end of a billing cycle, the financial institution sends one aggregate payment for all users of the subset to the utility company. The financial institution then collects funds from the utility customers associated with the batch payment by performing internal transfers within the financial institution. Accordingly, the described systems and methods eliminate the billing and collection responsibilities for the utility company.

Referring toFIG.1, a block diagram of a utility distribution and billing system100is shown according to an example embodiment. As described in further detail below, the system100facilitates both the delivering of a utility to a customer102(e.g., to a property of the customer102) by a utility company106and payment for the utility usage of the customer102by a financial institution104. The utility company106provides a utility (e.g. electricity, water, gas, cable, etc.) to the customer102via the utility line108, and the utility meter110installed at the location receiving the utility tracks the utility usage of customer102. Each of utility meters110is associated with an individual property of an identified customer102. The customer102can be an individual, an organization, a government entity, or a business. In some arrangements, a given customer102can be associated with multiple utility meters110. For example, a customer102may be a business having multiple locations, each of which receives the utility from the utility company106, and each of which has its own utility meter110.

In a traditional arrangement, the utility company106individually bills each customer102for that customer's utility usage based on that customer's utility usage data received from the utility meter110. In this arrangement, the utility company106is responsible for collecting individual payments from each customer102and for managing any disputes that arise. This process is repeated for each of the thousands—sometimes millions—of customers of the utility company106. The traditional utility distribution and billing arrangement is a costly and inefficient process for all parties involved in the utility payment and billing. As described in further detail below, the system100addresses the inefficiencies of the traditional utility billing and collections arrangement.

In system100, the utility company106contracts with the financial institution104to arrange for the financial institution104to provide aggregate payment for the utility usage of a plurality of customers102. The plurality of customers102may be a subset of the entire customer pool of the utility company106. The plurality of customers102are both customers of the utility company106and account holders with the financial institution104. The financial institution104receives each customer's utility usage information from a respective utility meter110associated with the customer102. Based on aggregate usage information for all customers opting into the batch billing system and current utility rates, the financial institution104prepares and transmits a bulk or batch payment to the utility company106.

The utility meter110is a smart utility meter that includes a network interface, memory, a processor, and optionally a display. In some arrangements, the utility meter110is an Internet of Things (IoT) device. The utility company106, upon installing the utility meter110at the property associated with the customer102(e.g., a residence, a workplace, or another property), programs the utility meter110with a unique meter identifier and correlates the unique meter identifier with the customer102. As the utility meter110measures the utility usage of the customer102at the property, the customer's utility usage is stored in the utility meter's110memory. The utility meter110communicates data over the network114via the network interface. In some arrangements, the utility meter110is configured to periodically transmit usage data (e.g., hourly, daily, weekly, monthly, etc.) along with the unique meter identifier. The data may be transmitted to the utility company computing system116or the financial institution computing system122via the network114. In some arrangements, the data relates to operating instructions, such as utility start instructions, utility stop instructions, or the like. In some arrangements, the data stored on the utility meter110and data communication privileges associated with the utility meter110may be initially limited to the utility company106. However, as will be described in greater detail below, upon the financial institution104agreeing to pay the utility bills of the customer102, the utility company106provides the financial institution104with access to the information stored on the utility meter110. Additionally, after forming the agreement, the utility company106can provide the financial institution104with the unique meter identifier associated with the customer102for identification of the customer102as an account holder with the financial institution104. Using the meter identifier, the financial institution104correlate a particular property's utility usage with a given customer of the financial institution104.

The customer communication device112is a device used by the customer102to communicate with other computing systems, such as the utility meter, the utility company computing system116, the financial institution computing system122, or the like. The customer communication device may be any of a smartphone, tablet, computer, a PDA, or the like. The customer communication device112may have various software/applications installed thereon, including a utility company application, a financial institution application, and third-party applications. Based on the data recorded by the utility meter110, the customer102may receive utility usage data and pay utility bills via a utility company application. Additionally, the customer may input payment preferences as to how to pay utility bills that are transmitted to the utility company computing system116via the network114. Depending on the payment method selected by the customer102, the utility usage data can be sent, as will be described in greater detail below, to the financial institution104for the incorporation of the customer's usage data into a bulk payment to be relayed from the financial institution104to the utility company106.

The utility company computing system116is either directly operated by the utility company106or by a third-party who manages the accounts of the utility company's customers. The utility company computing system116includes a customer account database118where information regarding utility usage, payments, and payment preferences of the customer102are stored. The utility company computer system116may transmit requests for payment to the customer102and receive customer payments and update the customer's account in the customer account database118accordingly. The utility company computing system116can also receive customer payment preferences and adjust the way in which payments from the customer102are requested depending on the user's preferred method of payment. For example, when the customer102communicates (e.g., via the customer communication device112) a preference for paying via the customer's financial institution104, the utility company computing system116may make the customer's utility usage data accessible to the financial institution104. For example, the customer's utility usage information might be transferred from the customer utility account database118over the network114to the financial institution computing system122. Alternatively, the utility company computing system116may transmit instructions to the utility meter110that are received via the network interface thereon and configure the utility meter110to transfer the customer usage data to the financial institution computing system122.

In some arrangements, utility company computing system116further includes a customer financial institution database120, where information regarding the payment responsibilities of the financial institution104are stored. For example, if the customer102requests via the customer communication device112to pay for the utility via the financial institution104, the utility company computing system116either creates or updates the customer financial institution database120to indicate that the utility company is no longer responsible for collecting payment from the customer102. In some arrangements, the customer financial institution database120stores the details of the agreement between the financial institution104and the utility company106, such as the rate that the financial institution104will pay the utility company106for each unit of customer utility usage, the customer identification numbers that the financial institution104is responsible for paying for, and the frequency with which the financial institution104is obliged to make payments for the utility usage of the customer102. Upon the receipt of payments from the financial institution104and requests from additional customers to pay via the financial institution104, the utility company computing system116may update the customer utility account database118and customer financial institution database120accordingly.

As noted above, the financial institution104includes the financial institution computing system122. The financial institution computing system122includes a processor124and memory126. The memory126stores programmable modules that, when executed by the processor124, control the operation of the financial institution computing system122. The financial institution computing system122includes a network interface128. The network interface128facilitates the sending and receiving of data over the network114(e.g., to and from the utility meter110, to and from the customer communication device112, to and from the utility company computing system116, etc.). The financial institution computing system122includes a customer account database130that stores customer financial information and logs transactions that the customer makes using funds from the financial institution.

In some arrangements, the financial institution computing system122includes a customer utility company database132. The customer utility company database132stores the details of the agreement between the financial institution104and the utility company104, such as the utility rates, customer identifiers, and the frequency with which the financial institution104is obliged to make payments. The customer utility company database132also stores the aggregate utility usage for all of the customers for which the financial institution104is obligated to make payments to the utility company. The utility usage data collected by the utility meter110of each customer102paying for utilities via the financial institution104is collected via the network interface128. The processor124is configured to process this data to determine the amount owed to the utility company106and to update each of the customer's account balances owed to the financial institution104.

With respect toFIG.2, a flow diagram of a method200of registering the customer102for the utility billing and payment program offered by the financial institution104is shown according to an example embodiment. Method200is performed by the financial institution computing system122(e.g. by the processor124). After method200is complete, the utility company106is relieved of billing and collection duties with respect to the customer102. The financial institution104takes over the billing and collection duties with respect to the customer102.

Method200begins when a customer request to participate in the utility billing and payment program of the financial institution104is received at202. The request is sent by the customer102from the customer communication device112and is received by the financial institution computing system122. To transmit the request, the customer102may interact with a financial institution application or website displayed on the customer communication device112. The request indicates that the customer102wants the financial institution104to handle the billing and collection for the customer's utility usage instead of the utility company106. In some arrangements, the request is in response to an advertisement or offer from the financial institution104or the utility company106. The request includes at least customer identification information, utility company identification information, utility company customer account information. The customer identification information may relate to, for example, the customer's username associated with a mobile banking portal used to access the financial institution104, the customer's name, the customer's address, or other identifying information. The utility company identification information allows the financial institution computing system122to identify the utility company106. The utility company identification information may be provided by the customer by interacting with the financial institution application or website (e.g., by selecting from a list of approved utility companies). The utility company customer account information may be in the form of a utility company account number associated with the customer102and the utility company106, customer login credentials associated with an online account management website of the utility company106, or the like. In some arrangements, the request also includes a utility meter identifier that identifies the utility meter110at the property associated with the customer's request.

Based on the information received with the request at202, the customer's status as an account holder with the financial institution104is verified at204. In some arrangements, in order to enroll in the utility billing and payment program offered by the financial institution104, the customer102must be an account holder with the financial institution104. Accordingly, the financial institution computing system122cross-references the received customer identification information against information stored in the customer financial account database130. If a match is found, the customer102is verified as having an account with the financial institution104. In the event that the customer102is determined to not be an account holder with the financial institution104, the financial institution computing system122transmits an account signup request to the customer communication device112. The account signup request allows the customer102to provide the necessary information to open and fund an account with the financial institution. If the customer provides the required information and initial funding, the financial institution computing system122creates a new account for the customer102and stores the new account information in the customer financial account database. If the customer102does not create a new account and is not an existing account holder, method200ends. The description of method200continues under the assumption that the customer102is an account holder (or creates a new account) with the financial institution104.

In some arrangements, the financial institution computing system122verifies that the customer102has a threshold amount of deposited money or a threshold amount of credit required to enroll in the utility billing and payment program at204. For example, if the customer102has a checking account or a savings account with the financial institution104, the balances of the checking and savings account may be positive. If the customer has a credit account, a home equity line of credit, a mortgage, etc., the account balances may be negative. Stored in the memory126of the financial institution computing system122may be data tables that contain account thresholds that determine customer eligibility to participate in the financial institution payment method. For example, at204, the financial institution computing system may determine whether the customer's checking or savings account is above a certain threshold. Alternatively, if the customer is running a negative account balance, the financial institution computing system may determine that the customer's amount owed to the financial system is below a certain threshold. If the threshold conditions for customer participation in the payment method are not met, then the method200ends. The description of method200continues under the assumption that the customer102has the appropriate amount of funds or credit available.

After204, the customer102is verified as a customer of the utility company106at206. The financial institution computing system122verifies the customer102as a customer of the utility company106by sending a message to the utility company computing system116indicating the customer identification information and/or the utility company customer account information received at202. The utility company computing system116cross-references the received customer identification information and/or the utility company customer account information against the customer utility account database118to determine if the customer102is a customer of the utility company106. If the customer102is not a customer of the utility company106, the utility company computing system116transmits a denial message to the financial institution computing system122, and method200ends. If the customer102is a customer of the utility company106, the utility company computing system116transmits an approval message to the financial institution computing system122. The approval message confirms the customer's status as a customer of the utility company106. In some arrangements, the approval message includes the unique identification of the utility meter110associated with the customer, the current balance of the account associated with the customer, and the agreed upon utility rate (i.e., cost per unit of utility) the customer102pays the utility company106.

After verifying the customer's status with the utility company, an approval message is sent to the customer102at208. The approval message is sent from the financial institution computing system122to the customer communication device112. The approval message indicates that the customer is approved for the utility billing and payment service offered by the financial institution104. The approval message may include terms that need to be accepted by the customer102prior to finalizing the customer's enrollment in the utility billing and payment service. In some circumstances, the customer102may have a plurality of accounts with the utility company106. For example, the customer102may have a plurality of properties that each receive electricity from the utility company106and that each have an individual utility meter110. In these circumstances, the approval message may require that the customer102provide an indication as to which of the properties or utility meters110are to be enrolled in the utility billing and payment service (e.g., by checking or unchecking boxes on a user interface presented on the customer communication device112) to the financial institution computing system122.

After the customer102provides the necessary approvals and any required indications of utility meters110to be enrolled in the utility billing and payment program, the customer102is registered as a participant in the utility billing and payment program at210. The financial institution computing system122stores the customer's utility information (e.g., any utility meter identifiers, rate information, property information, utility account numbers, etc.) in the customer utility company database132. As described in further detail below, when the customer102is enrolled in the utility billing and payment program, the utility company106is relieved of billing and collection duties with respect to the customer102, and the financial institution104assumes these duties. In return, the financial institution104issues periodic batch payments to the utility company106for all customers enrolled in the utility company billing and payment service offered by the financial institution104.

Referring toFIG.3, a flow diagram of a method of providing batch payment to the utility company106is shown according to an example embodiment. The method300is performed by the financial institution computing system122(e.g., by processor124). The batch payment is provided from the financial institution104to the utility company106for all customers102enrolled in the utility billing and collection program provided by the financial institution104. Each customer102enrolls in the program through method200(described above with respect toFIG.2).

Method300begins when utility usage data from the utility meters110is received at302. The utility usage data is received by the financial institution computing system122from each of the utility meters110associated with each of the customers102enrolled in the utility billing and collection program. Each utility meter110transmits individual utility usage data for the property serviced by the utility meter110. The individual utility usage data includes the unique utility meter identifier associated with the given utility meter110, and a quantity of utility provided to the utility meter110. The quantity of the utility provided may relate to an amount of kilowatt hours of electricity, a number of gallons of water, a number of cubic feet of natural gas, or the like. In some arrangements, the utility usage data includes additional utility usage metrics (e.g., rate of usage, time of usage, etc.). The utility usage data is received by the financial institution computing system122at regular time intervals (e.g., hourly, daily, weekly, monthly, etc.). In some arrangements, the utility usage data is received in real-time. To ensure proper payment, the financial institution computing system122cross-references each unique utility meter identifier with known unique utility meter identifiers associated with enrolled customers102(e.g., by cross-referencing a listing of known unique utility meter identifiers stored in the customer utility company database132). If utility usage data is received from non-enrolled utility meters, that utility usage data may be discarded by the financial institution computing system122.

The received individual utility usage data is aggregated at304. Each non-discarded individual utility meter usage data is totaled by the financial institution computing system122to determine an aggregate amount of utility usage used by the customers enrolled in the utility billing and payment program provided by the financial institution104. The financial institution computing system122stores the aggregate amount of utility usage in the customer utility company database132. In some arrangements, the aggregate amount of utility usage is continuously updated within a given billing cycle (e.g., as described below with respect to306).

The financial institution computing system122determines if the billing cycle is over at306. The billing cycle corresponds to the agreed upon billing period between the financial institution104and the utility company106. For example, the agreed upon billing period may dictate that the financial institution104makes monthly batch payments to the utility company106for all utility usage of enrolled customers during a given month. If the billing cycle is not over, method300returns to302.

If the financial institution computing system122determines that the billing cycle is over at306, the total amount owed for the billing cycle is determined at308. In some arrangements, the financial institution104contracts with the utility company106to pay a flat rate for each unit of utility used by the customers102enrolled in the utility billing and payment program. In such arrangements, the financial institution computing system122multiplies the aggregate utility usage calculated at304by the flat rate to determine the total amount owed to the utility company106. In other arrangements, each customer's usage (or utility meter's usage) may be assessed a different rate by the utility company106. In such arrangements, the financial institution computing system122multiplies each individual usage data over the course of the billing cycle by the individual rate charged by the utility company106. This calculation is repeated for each customer102to determine the total amount owed to the utility company106.

Payment is transmitted to the utility company106at310. The financial institution computing system122transmits payment to the utility company106. In some arrangements, the financial institution computing system122transmits payment via an account clearing house (ACH) transfer or a wire transfer. In other arrangements, the financial institution computing system122sends a payment request to a check processing vendor that issues a check to the utility company106. In further arrangements, the utility company106is an account holder with the financial institution104. In these arrangements, the utility company106performs an internal transfer of funds between a financial institution holding account and an account held by the utility company106(e.g., by updating the customer financial account database130). In some arrangements, the payment made by the financial institution104to the utility company106is guaranteed. Accordingly, the payment is not contingent on the financial institution104receiving payments from the individual customers102. In exchange for the guaranteed payment, the financial institution104may negotiate a discounted utility rate from the utility company106such that the financial institution104can collect a surcharge from the customers102. Alternatively, in exchange for the guaranteed payment, the utility company106can pay the financial institution104a guarantee fee. In some circumstances, the utility company106shifts responsibility of turning on or off provision of the utility through a utility meter110at the time of accepting the guarantee. The financial institution104can then control (i.e., suspend, restart, stop, start, meter, etc.) provision of the utility to a given customer based on the account status. For example, if the customer is way behind on payments, the financial institution computing system122can transmit a stop utility message to the appropriate utility meter110such that the customer cannot accumulate more debt from utility usage.

In arrangements where the financial institution computing system122maintains a running total aggregate utility usage amount, the aggregate utility usage data is reset at312. The financial institution computing system122resets (i.e., zeroes) the aggregate utility usage data, and the method300returns to302. If the aggregate utility usage amount is not a running total, the method restarts at after310.

Referring toFIG.4, a method of receiving payment from a customer102for utility usage is shown according to an example embodiment. The method400is performed by the financial institution computing system122(e.g., by processor124). The method400begins when utility usage data from the utility meters110is received at402. The utility usage data is received by the financial institution computing system122from each of the utility meters110associated with each of the customers102enrolled in the utility billing and collection program. Each utility meter110transmits individual utility usage data for the property serviced by the utility meter110. The individual utility usage data includes the unique utility meter identifier associated with the given utility meter110, and a quantity of utility provided by the utility meter110. The quantity of the utility provided may relate to an amount of kilowatt hours of electricity, a number of gallons of water, a number of cubic feet of natural gas, or the like. In some arrangements, the utility usage data includes additional utility usage metrics (e.g., rate of usage, time of usage, etc.). The utility usage data is received by the financial institution computing system122at regular time intervals (e.g., hourly, daily, weekly, monthly, etc.). In some arrangements, the utility usage data is received in real-time.

The individual utility usage data is associated with identified customer accounts at404. The financial institution computing system122cross-references each unique utility meter identifier with known unique utility meter identifiers associated with enrolled customers102(e.g., by cross-referencing a listing of known unique utility meter identifiers stored in the customer utility company database132). The financial institution computing system122associates the individual utility usage data with a matched customer. The association is stored in the customer utility company database132. If utility usage data is received from non-enrolled utility meters, that utility usage data may be discarded by the financial institution computing system122.

The amount owed by the customer is calculated at406. The financial institution computing system122calculates the amount of money owed to the financial institution104based on each customer's individual usage. The amount owed is calculated by multiplying the customer's individual utility usage amount received at402by the cost of each unit of the utility (e.g., each kilowatt hour electricity, each cubic foot of natural gas, each gallon of water, etc.). The cost of each unit of the utility may be different for each customer102. Additionally, the cost of each unit of the utility assessed to each customer102may be different (e.g., more expensive) than the cost of each unit of the utility charged to the financial institution104by the utility company106. The markup in the cost of each unit of the utility may be retained by the financial institution104as a fee for taking over the billing and collection responsibilities from the utility company106.

Each customer account balance is updated at408. The financial institution computing system122updates each customer account balance based on the amount owed calculated at406. The updated account balances are stored in the customer utility company database132.

A notification is sent to each customer102indicating the updated account balance at410. The financial institution computing system122sends the notification to each customer (e.g., via the customer communication device112). The notification includes an account balance, an indication of utility usage amount, and an indication of a due date. The notification may be any of an e-mail, an e-statement, a paper statement, an online banking message, or the like. In some arrangements, the notification includes an alert that an expected utility future utility bill will overdraw an account (e.g., a checking account or savings account) at the due date. In such arrangements, the account alert or notification is based at least in part on both (1) current account balance information of a customer's checking or savings account and (2) current utility usage or usage trends of the customer. If the customer is at risk of overdrawing the account used to pay the utility bill, the financial institution122can suggest a transfer between accounts for the expected overage. Alternatively, if the customer is at risk of overdrawing the account used to pay the utility bill, the financial institution122may provide the customer the option to shut off provision of the utility through the utility meter110associated with the utility account. Accordingly, the financial institution computing system122can transmitting a stop signal to the utility meter110associated with the customer account.

The financial institution computing system122determines whether the customer102is enrolled in auto payment at412. The customer102may be enrolled in an auto payment program offered by the financial institution104. If enrolled in the auto payment program, the financial institution104is authorized to transfer funds directly from a customer account held with the financial institution104. In some arrangements, there may be a limit on the amount of funds transferred. For example, the customer102can authorize the financial institution104to automatically transfer up to a designated amount of money (e.g., $100) each month to pay for the utility. If the amount owed for the utility usage is in excess of $100, the customer102may wish to receive an alert of the unusually high utility bill prior to sending payment. Accordingly, at412, the financial institution computing system122determines whether the customer is enrolled in the auto payment program and if the updated account balance is less than or equal to the designated amount of money (if applicable). The auto payment program can be incentivized by the financial institution104to encourage customers102to enroll in the auto payment program. For example, the financial institution104can offer the customers a discounted utility rate, a rebate, or the like for enrolling in the auto payment program. If the customer is to receive an alert (e.g., as described above), the financial institution computing system122transmits the requested alert.

If the customer is enrolled in the auto payment program, and if the updated account balance is less than or equal to the designated amount of money, funds are transferred from the customer account at414. In some arrangements, the transfer occurs internally between accounts held within the financial institution104. In these arrangements, the financial institution computing system122performs the transfer of funds by executing an internal transfer from an account associated with the customer102held with the financial institution104to an account held by the financial institution104(e.g., a holding account, an escrow account, etc.). The internal transfer avoids the costs and time delays associated with performing an ACH transfer, a check transaction, or a credit/debit card transaction. The financial institution computing system122effectuates the transaction by updating the customer financial account database130accordingly. In other arrangements, the customer102provides alternate payment sources, such as an account with another financial institution, a credit card, a debit card, an electronic check, a paper check, or the like. In such arrangements, the financial institution computing system122initiates the transfer of funds via an appropriate method, such as initiating an ACH transfer from the account with the other financial institution to the holding account at the financial institution104, initiating a credit card charge, performing a check deposit, or the like. After the transfer of funds occurs, a payment confirmation is sent by the financial institution computing system122to the customer102(as discussed in further detail below with respect to420).

If the customer is not enrolled in the auto payment program, or if the updated account balance is greater than the designated amount of money, a payment due notification is sent at416. The financial institution computing system122sends the payment due notification to the customer102via the customer communication device112. In some arrangements, the payment due notification is included in the notification sent at410. The payment due notification includes an indication of an amount owed to the financial institution104for the utility usage and a due date for making payment.

Still referring toFIG.4, at418, the financial institution computing system122determines if payment was received within the due date of the notification sent at416. If a payment was received, a payment confirmation is sent at420. The payment may be received either in response to the notification sent at416or as a result of the transfer at414. The financial institution computing system122sends the payment confirmation to the customer102via the customer communication device112. The payment confirmation may be any of an e-mail, an e-statement, a paper statement, an online banking message, or the like. In some arrangements, the financial institution104can incentivize early payments ahead of the due date. For example, the financial institution104may offer a slight discount to customers paying the utility bill ahead of the due date. As another example, the financial institution104can incentivize a group of customers enrolled in the utility billing and payment program by offering a group discount if a threshold number of customers pay early (e.g., if 70% of customers pay early, everybody in the group gets a 5% discount). In other arrangements, the financial institution104can provide advice to delay customer payment for the utility past the due date by providing the customer102with investment advice. For example, in some situations, the late fee associated with paying the utility bill past the due date is less money than can be made by utilizing that same money in a short-term investment product offered by the financial institution104.

If payment was not received within the due date of the notification sent at416, the financial institution computing system122may begin collection procedures at422. The collection procedures may include any of freezing funds in a customer account held at the financial institution104, stopping utility delivery via the utility meter110(e.g., by transmitting a stop instruction to the utility meter110), sending additional payment notices, or a combination thereof. One such collection procedure is described below with respect toFIG.5. Method400is repeated for each customer enrolled in the utility billing and payment program offered by the financial institution104.

Referring toFIG.5, a flow diagram of a method500of taking action with respect to a past-due customer account according to an example embodiment. The method500is performed by the financial institution computing system122(e.g., by processor124). The method500may be performed, for example, in place of or after422of the method400.

A customer account is determined to be past due at502. The financial institution computing system122determines that the customer account is past due based on utility billing and payment account information stored in the customer utility company database132. An account may be considered past due if the customer102associated with the customer account owes a threshold amount of money to the financial institution104and/or the customer has not provided a minimum (or full) payment on an owed amount after a threshold amount of time (e.g., a number of months, a year, etc.).

A past due notification is sent at504. The financial institution computing system122sends the past due notification to the customer102via the customer communication device112. The past due notification may be any of an e-mail, an e-statement, a paper statement, an online banking message, or the like. The past due notification includes an indication of the amount owed, including any interest or late fees, and an indication of the final date to make payment before non-payment procedures (e.g., account collection procedures, utility shutoff, etc.) are implemented.

The financial institution computing system122determines whether the customer102made a payment within the payment window at506. If a customer payment is received within the payment window, the customer's account balance is updated. The financial institution computing system122updates the customer utility company database132to reflect the new balance. If a customer payment is not received within the payment window, non-payment procedures are implemented at510. The non-payment procedures include any combination of freezing funds in a customer account held with the financial institution104, transferring funds from a customer account held with the financial institution104, notifying a collection agency of the past due account, or a combination thereof. In some arrangements, the non-payment procedures include transmitting a stop signal to the utility meter110associated with the customer account. Once the stop signal is received by the utility meter110, the utility meter110cuts off provision of the utility to the location serviced by the meter110. The stop signal may be transmitted directly by the financial institution computing system122. In other arrangements, the stop signal is transmitted by the utility company computing system116after receiving a request from the financial institution computing system122.

The above-described utility billing and payment program achieves more efficient utility billing and payment than traditional utility billing and payment schemes. The above-described utility billing and payment program avoids the expenses (e.g., bill mailing costs, transaction costs, collection costs, etc.) associated with individual billing and collection. Additionally, because many of the customer utility payments occur wholly within the financial institution104, the payments can be processed and received quicker than in the traditional utility billing and payment schemes. The above-described utility billing and payment program can be modified to non-utility providing billers, such as merchants or entities having a large number of recurring customers or paying parties (e.g., fitness centers collecting membership dues, government agencies collecting taxes, crowd-funding groups collecting payments, etc.).

The above-described utility billing and payment program also provides the financial institution104with additional information about its customers102. The additional information can be leveraged by the financial institution104to increase the effectiveness of other products provided to the customers102, such as budgeting tools, financial planning services, and the like. For example, the financial institution104can recommend to a customer to adjust a water heater temperature or a home thermostat to help achieve savings goals based on the additional information gained from the customer's participation in the utility billing and payment program.

The embodiments described herein have been described with reference to drawings. The drawings illustrate certain details of specific embodiments that implement the systems, methods and programs described herein. However, describing the embodiments with drawings should not be construed as imposing on the disclosure any limitations that may be present in the drawings. The present embodiments contemplate methods, systems and program products on any machine-readable media for accomplishing its operations. The embodiments of may be implemented using an existing computer processor, or by a special purpose computer processor incorporated for this or another purpose or by a hardwired system.

As noted above, embodiments within the scope of this disclosure include program products comprising non-transitory machine-readable media for carrying or having machine-executable instructions or data structures stored thereon. Such machine-readable media can be any available media that can be accessed by a general purpose or special purpose computer or other machine with a processor. By way of example, such machine-readable media can comprise RAM, ROM, EPROM, EEPROM, CD-ROM or other optical disk storage, magnetic disk storage or other magnetic storage devices, or any other medium which can be used to carry or store desired program code in the form of machine-executable instructions or data structures and which can be accessed by a general purpose or special purpose computer or other machine with a processor. Combinations of the above are also included within the scope of machine-readable media. Machine-executable instructions comprise, for example, instructions and data which cause a general purpose computer, special purpose computer, or special purpose processing machines to perform a certain function or group of functions.

Embodiments have been described in the general context of method steps which may be implemented in one embodiment by a program product including machine-executable instructions, such as program code, for example in the form of program modules executed by machines in networked environments. Generally, program modules include routines, programs, objects, components, data structures, etc. that performs particular tasks or implement particular abstract data types. Machine-executable instructions, associated data structures, and program modules represent examples of program code for executing steps of the methods disclosed herein. The particular sequence of such executable instructions or associated data structures represent examples of corresponding acts for implementing the functions described in such steps.

As previously indicated, embodiments may be practiced in a networked environment using logical connections to one or more remote computers having processors. Those skilled in the art will appreciate that such network computing environments may encompass many types of computers, including personal computers, hand-held devices, multi-processor systems, microprocessor-based or programmable consumer electronics, network PCs, minicomputers, mainframe computers, and so on. Embodiments may also be practiced in distributed computing environments where tasks are performed by local and remote processing devices that are linked (either by hardwired links, wireless links, or by a combination of hardwired or wireless links) through a communications network. In a distributed computing environment, program modules may be located in both local and remote memory storage devices.

An example system for implementing the overall system or portions of the embodiments might include a general purpose computing computers in the form of computers, including a processing unit, a system memory, and a system bus that couples various system components including the system memory to the processing unit. The system memory may include read only memory (ROM) and random access memory (RAM). The computer may also include a magnetic hard disk drive for reading from and writing to a magnetic hard disk, a magnetic disk drive for reading from or writing to a removable magnetic disk, and an optical disk drive for reading from or writing to a removable optical disk such as a CD ROM or other optical media. The drives and their associated machine-readable media provide nonvolatile storage of machine-executable instructions, data structures, program modules and other data for the computer. It should also be noted that the word “terminal” as used herein is intended to encompass computer input and output devices. Input devices, as described herein, include a keyboard, a keypad, a mouse, joystick or other input devices performing a similar function. The output devices, as described herein, include a computer monitor, printer, facsimile machine, or other output devices performing a similar function.

Any foregoing references to currency or funds are intended to include both fiat currencies, non-fiat currencies (e.g., precious metals), and math-based currencies (often referred to as cryptocurrencies). Examples of math-based currencies include Bitcoin, Litecoin, Dogecoin, and the like.

It should be noted that although the diagrams herein may show a specific order and composition of method steps, it is understood that the order of these steps may differ from what is depicted. For example, two or more steps may be performed concurrently or with partial concurrence. Also, some method steps that are performed as discrete steps may be combined, steps being performed as a combined step may be separated into discrete steps, the sequence of certain processes may be reversed or otherwise varied, and the nature or number of discrete processes may be altered or varied. The order or sequence of any element or apparatus may be varied or substituted according to alternative embodiments. Accordingly, all such modifications are intended to be included within the scope of the present disclosure as defined in the appended claims. Such variations will depend on the software and hardware systems chosen and on designer choice. It is understood that all such variations are within the scope of the disclosure. Likewise, software and web implementations of the present disclosure could be accomplished with standard programming techniques with rule based logic and other logic to accomplish the various database searching steps, correlation steps, comparison steps and decision steps.

The foregoing description of embodiments has been presented for purposes of illustration and description. It is not intended to be exhaustive or to limit the disclosure to the precise form disclosed, and modifications and variations are possible in light of the above teachings or may be acquired from this disclosure. The embodiments were chosen and described in order to explain the principals of the disclosure and its practical application to enable one skilled in the art to utilize the various embodiments and with various modifications as are suited to the particular use contemplated. Other substitutions, modifications, changes and omissions may be made in the design, operating conditions and arrangement of the embodiments without departing from the scope of the present disclosure as expressed in the appended claims.