Installments system and method

Abstract

A method includes receiving, by a network computer from a resource provider computer, a settlement request associated with an installment plan and a total amount associated with a user account. The network computer transmits, to the resource provider computer, a settlement response associated with the installment plan and the total amount. The network computer configures an installment record, the installment record comprising a plurality of installment times. Based on occurrence of an installment time, of the plurality of installment times in the installment record, the network computer transmits, to an authorizing computer, installment data associated with the installment record to an authorizing computer, wherein the authorizing computer transmits an installment payment request to a user responsive to receiving the installment data from the network computer.

What is claimed is: 
     
         1 . A computer-implemented method comprising:
 receiving, by a network computer from a resource provider computer, a settlement request associated with an installment plan and a total amount associated with a user account;   transmitting, by the network computer to the resource provider computer, a settlement response associated with the installment plan and the total amount;   configuring, by the network computer, an installment record, the installment record comprising a plurality of installment times; and   based on occurrence of an installment time, of the plurality of installment times in the installment record, transmitting, by the network computer to an authorizing computer, installment data associated with the installment record, wherein the authorizing computer transmits an installment payment request to a user responsive to receiving the installment data from the network computer.   
     
     
         2 . The method of  claim 1 , wherein the installment record is a temporary account with a starting balance of the total amount. 
     
     
         3 . The method of  claim 2 , wherein the temporary account is a virtual account. 
     
     
         4 . The method of  claim 2 , wherein the temporary account is a prepaid account. 
     
     
         5 . The method of  claim 1 , further comprising:
 receiving, by the network computer from the authorizing computer, confirmation of an installment payment of an installment amount completed responsive to the installment payment request; and   responsive to receiving the confirmation, updating, by the network computer, the installment record.   
     
     
         6 . The method of  claim 5 , further comprising:
 providing, to a user device of the user, a Graphical User Interface (GUI) displaying the total amount, the installment amount, and a remaining amount.   
     
     
         7 . The method of  claim 1 , further comprising:
 blocking the user account for a block amount equal to the total amount;   responsive to receiving confirmation of an installment payment completed responsive to the installment payment request, reducing the block amount by an amount of the installment payment to generate an updated block amount; and   transmitting a notification of the updated block amount.   
     
     
         8 . The method of  claim 1 , wherein the settlement request comprises a timestamp and a transaction identifier. 
     
     
         9 . The method of  claim 8 , wherein the settlement request further comprises an installment plan identifier, and wherein the method further comprises analyzing the installment plan identifier to identify the installment plan associated with the settlement request. 
     
     
         10 . The method of  claim 1 , wherein the installment record includes an installment amount, the method further comprising:
 preparing a statement, the statement comprising the installment amount; and   transmitting the statement to a user device.   
     
     
         11 . A network computer comprising:
 a processor;   a memory device; and   a computer readable medium coupled to the processor, the computer readable medium comprising code, executable by the processor, to implement a method comprising:   receiving, from a resource provider computer, a settlement request associated with an installment plan and a total amount associated with a user account;   transmitting, to the resource provider computer, a settlement response associated with the installment plan and a total amount;   configuring an installment record, the installment record comprising a plurality of installment times; and   based on occurrence of an installment time, of the plurality of installment times in the installment record, transmitting, to an authorizing computer, installment data associated with the installment record, wherein the authorizing computer transmits an installment payment request to a user responsive to receiving the installment data from the network computer.   
     
     
         12 . The network computer of  claim 11 , wherein the installment record is a temporary account with a starting balance of the total amount. 
     
     
         13 . The network computer of  claim 12 , wherein the temporary account is a virtual account. 
     
     
         14 . The network computer of  claim 12 , wherein the temporary account is a prepaid account. 
     
     
         15 . The network computer of  claim 11 , the method further comprising:
 receiving, from the authorizing computer, confirmation of an installment payment completed responsive to the installment payment request; and   responsive to receiving the confirmation, updating the installment record.   
     
     
         16 . The network computer of  claim 11 , wherein the installment record includes an installment amount, the method further comprising:
 providing, to a user device of a user associated with the user account, a Graphical User Interface (GUI) displaying the total amount, the installment amount, and a remaining amount.   
     
     
         17 . The network computer of  claim 11 , the method further comprising:
 blocking the user account for a block amount equal to the total amount;   responsive to receiving confirmation of an installment payment completed responsive to the installment payment request, reducing the block amount by an amount of the installment payment to generate an updated block amount; and   transmitting a notification of the updated block amount.   
     
     
         18 . The network computer of  claim 11 , wherein the settlement request comprises a timestamp and a transaction identifier. 
     
     
         19 . The network computer of  claim 11 , wherein the settlement request comprises an installment plan identifier, and wherein the method further comprises analyzing the installment plan identifier to identify the installment plan associated with the settlement request. 
     
     
         20 . The network computer of  claim 11 , wherein the installment record includes an installment amount, the method further comprising:
 preparing a statement, the statement comprising the installment amount; and   transmitting the statement to a user device.