Patent ID: 8768832

Claim:
A machine processor-implemented method comprising: receiving, at a financial service provider from a payor-to-merchant transaction processor (P2MTP) for a healthcare provider, a batch request to effect payment for a batch of financial transactions between the healthcare provider and an insured for healthcare provided to the insured by the healthcare provider, the batch request including: a P2MTP settlement account for receiving payment; a remittance amount required to settle the batch of financial transactions; and payor identification information regarding a payor that is financially responsible to the healthcare provider for the batch of financial transactions; searching, within a database located at the financial service provider, for a record matching the payor identification information; and operative when said record is found: determining by the processor, based on a record in the financial service provider database, payment source information sufficient to identify a funding source associated with the payor, wherein the funding source is associated with an account issued to the payor and is the account from which the payment will be made; extracting, the determined payment source information from the financial service provider database; transmitting, a statement from the financial service provider for delivery to an address of the payor, wherein the statement indicates that a request for payment will be made and includes: the payor identification information; the payment source information; the remittance amount; and date information regarding when the payment will be withdrawn; transmitting, from the financial service provider for delivery to an address of the funding source, a collection electronic message that includes a request for payment of the remittance amount; transmitting a remitting electronic message from the financial service provider for delivery to an address of the P2MTP, wherein the remitting electronic message indicates that the remittance amount is to be transferred to the P2MTP settlement account; clearing and settlement of the batch of financial transactions, by the financial service provider, with the funding source; and clearing and settlement of the batch of financial transactions, by the financial service provider, with the P2MTP.