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Selective escrow using electronic funds transfer

Patent Number: RE44189
Publication Date: 2013-04-30
Inventors: ;

A method is employed to impound funds from merchant sales electronically in an escrow account for later use such as payment of associated sales taxes. An electronic funds processor (EFP) determines escrow information for credit/debit card charge payment requests made by the merchant via a credit/debit card terminal, forwards the requests to one or more credit/debit card issuers, extracts an escrow amount from payments made by the issuers to the merchant, and credits an escrow account of the ...

Transaction authorization service

Patent Number: 8447700
Publication Date: 2013-05-21
Inventors: ; ;

System and method for authorizing transactions, such as payments or money transfers. A source entity may initiate a transaction with a target entity via a first communications channel. In initiating the transaction, the source entity may indicate that the transaction is to be performed through a transaction authorization service. The target entity may send a transaction initiation message to the transaction authorization service. In response to receiving the transaction initiation message, ...

Global secure service provider directory

Patent Number: 8447699
Publication Date: 2013-05-21
Inventors: ;

Systems and methods enable members of a secure transaction network to readily identify the appropriate trusted service manager (TSM) to support a particular transaction. A global directory of TSM providers is provided that a secure service provider can use for determining which TSM provider is the authorized manager of a security domain for the particular transaction. In aspect the directory of TSM providers may be stored within a mobile device secure element. In another aspect, the ...

Communication system, communication method, distribution apparatus, distribution method and terminal apparatus

Patent Number: 8447698
Publication Date: 2013-05-21
Inventor:

A communication system includes a terminal having a first storage section for storing a number of pieces of content information, a second storage section for storing a number of pieces of the content information, a storage control section for placing a content ID stored in the second storage section into purchase information for each terminal and stored in the second storage section, an access control section for controlling access to the content information corresponding to the content ID ...

Rights offering and granting

Patent Number: 8447697
Publication Date: 2013-05-21
Inventors: ;

Processes and systems for offering and granting digital rights that govern distribution and usage of content, services and resources. The processes and systems provide a basis for flexible business models and negotiation transactions between content providers and users. The concept of meta-rights, which permit digital rights to be derived, permits upstream parties in a content distribution chain to dictate rights granted and received by downstream parties. Therefore, each transaction can be ...

System and method for handling peripheral connections to mobile devices

Patent Number: 8447696
Publication Date: 2013-05-21
Inventor:

Systems and methods for establishing a data connection between a mobile device and a peripheral. The mobile device is configured to determine whether to handle user approval of the data connection between the mobile device and the peripheral. Through the mobile device, an input mechanism is provided for the user to provide input. The input is used in determining whether to approve the data connection between the mobile device and the ...

System and method for processing feedback entries received from software

Patent Number: 8447695
Publication Date: 2013-05-21
Inventor:

A method and system for processing feedback entries received from software provided by a vendor to an end user machine. The end user machine includes the software, a feedback module, and a database. The feedback module: generates a secret key k(0) and makes the key k(0) known to both the vendor and a user of the software; generates a secret key n(0) and makes the key n0) known to the vendor but not to but not to the user; generates a secret key s(0) and makes the key s(0) known to the user ...

Commodity Futures Index and methods and systems of trading in futures contracts that minimize turnover and transactions costs

Patent Number: 8447694
Publication Date: 2013-05-21
Inventors: ;

This invention relates to methods and systems for reducing transaction costs and minimizes turnover in the trading of futures contracts. The invention further describes an algorithm whose output is a unique method of investing in futures contracts that reduces the rate of turnover, and thus the cost of trading, of certain common trading strategies. The primary application of this method is to a class of strategies referred to as indexing strategies that incorporate a dynamic asset ...

Methods and systems for routing payment transactions

Patent Number: 8447693
Publication Date: 2013-05-21
Inventors: ;

Methods and systems for routing payment transactions electronically involve interrogating by computer logic each payment transaction received by a payments interface processor to identify a payment destination and a payment source and to determine, according to pre-defined parameters, whether the payment transaction is eligible for processing via an internal payment transaction processor of the financial institution that minimizes processing costs. Eligible payment transactions may be ...

Personal financial network

Patent Number: 8447692
Publication Date: 2013-05-21
Inventors: ; ; ; ; ; ; ; ; ; ; ;

Apparatus and methods for providing a personal financial network service are provided. The method may use an electronic information processing platform. The method may include storing information relating to a first participant account. The method may also include storing information relating to a second participant account. The systems and methods of the invention may further include storing information relating to a group of accounts containing the first participant and the second ...

Systems and methods for NACHA compliant ACH transfers using an automated voice response system

Patent Number: 8447691
Publication Date: 2013-05-21
Inventor:

Embodiments of the invention described a method for processing an ACH transfer in compliance with NACHA regulations. The method comprises receiving a request, through a phone call from a customer, to initiate an ACH transfer, the request including at least an account identifier and a payment amount. The method confirms the ACH transfer using speech recognition software and an interactive voice response unit, wherein the customer's identity, the date of transfer, the account identifier, the ...

Business and social media system

Patent Number: 8447690
Publication Date: 2013-05-21
Inventor:

A business and social media system is provided for establishing communication services between people in different countries. The system includes a core system module, the core system module including a server for maintaining information regarding a client and a means for establishing communications services between a client and another person. The system further includes external modules in communication with the core system module, the modules including a telephony termination module, a ...

Calculating credit worthiness using transactional data

Patent Number: 8447689
Publication Date: 2013-05-21
Inventors: ; ;

Aspects of the invention provide for the use of transactional data in determining credit and product offerings. Further aspects of the invention provide for generating financial statements and indices using transactional data for use by users and/or financial institutions. The transactional based financial statements and indices may be used for making underwriting and financial planning ...

Risk-based reference pool capital reducing systems and methods

Patent Number: 8447688
Publication Date: 2013-05-21
Inventors: ; ; ;

Embodiments consistent with the present invention provide a credit enhancement structure for risk allocation between parties that minimizes the regulatory capital reserve requirement impact to an institution subject to capital reserve requirement. A subject pool of assets held by the institution, such as a pool of loans, is rated to determine its risk levels. Based on the rated risk levels, a guarantor party agrees to be responsible for a portion of the risk associated with the pool of ...

Method and system for centralized identity and account controls

Patent Number: 8447687
Publication Date: 2013-05-21
Inventor:

The method and system provides consumers with the ability to define and control their identity and accounts to minimize vulnerability to identity theft and credit fraud. This is accomplished using a centralized system where consumers can define their identity and account profile and define rules that control access to their identity and accounts. This process works independently of existing credit bureaus and credit authorization processes, creating a dual authentication and authorization ...

System and method for mitigating merchant debit balances

Patent Number: 8447686
Publication Date: 2013-05-21
Inventors: ; ; ; ;

A system and method for collecting data about merchants or service establishments that accept credit cards or charge cards as payment for goods and services, segmenting the merchants into groups, generating risk scores for the merchants based upon each merchants' group and, based upon the risk scores, providing information to a card issuer to take remedial action for merchants that are at higher risk for entering into a debit ...

Method and system for displaying and trading spreads

Patent Number: 8447685
Publication Date: 2013-05-21
Inventor:

A trading application can receive price and quantity information for tradable objects. The trading application can compute implied price and quantity information for spreads of the tradable objects. Direct and indirect price and quantity information for the spreads can be displayed in a manner that shows the relationship with each other and with the price and quantity information for the tradable ...

Method and system for optimal pricing and allocation for a set of contractual rights to be offered with canceling/modifying of indications of interest

Patent Number: 8447684
Publication Date: 2013-05-21
Inventor:

A method and system for the determination of optimal pricing and allocation of securities in an open, competitive environment. The method and system may also be used in developing pre-markets of other items that are difficult to price and allocate in a competitive manner, such as the underwriting/securitization of contracts for property; future revenue/earning streams from an asset and/or group of assets; underwritten insurance portfolios, intellectual property and other goods and services. ...

Hedging risks associated with variable priced orders for derivative financial products

Patent Number: 8447683
Publication Date: 2013-05-21
Inventors: ; ; ; ;

Systems and methods are provided for executing a hedge transaction in connection with the execution of a derivative product order in which the price of the derivative product is defined by one or more variables. The hedge transaction may be executed at an exchange or match engine that is different from the exchange or match engine executing the derivative product order. The execution of derivative product transaction may be contingent on the existence of an appropriate hedge transaction. ...

Method of operating a venture business

Patent Number: 8447682
Publication Date: 2013-05-21
Inventor:

A method of operating a venture capital investment business, including establishing a business entity that establishes an investment fund and a fund managing entity thereof that attends to administrative matters relating thereto and makes investment decisions for the fund. The investment fund has investors that with the fund managing entity provide capital contributions to the fund that the fund utilizes to invest in portfolio entities. The investors receive a general participation interest ...

System and method for administering a destination fund having an associated guarantee

Patent Number: 8447681
Publication Date: 2013-05-21
Inventors: ;

A system is provided for administering a destination fund having a guarantee wrapper. The guarantee provides an income stream for life to one or more investors. The destination fund has a selected mix of equities and fixed income investments to provide for enhanced returns throughout retirement for the investor. The destination fund additionally provides income stream flexibility throughout the lifetime of the investor. Administration of a destination fund having a guarantee wrapper may ...

Business transaction facilitation system

Patent Number: 8447680
Publication Date: 2013-05-21
Inventors: ;

Embodiments of the present disclosure are directed to methods, systems and computer program products for facilitating a business relationship between a customer and at least one provider. The methods, systems and computer program products allow for a system for conducting business transactions and/or facilitating business relationships wholly electronically via an e-vault system. The e-vault system provides at least one interface for one or more client systems to upload data to and from an ...

Derivative products

Patent Number: 8447679
Publication Date: 2013-05-21
Inventors: ; ; ; ;

Systems and methods are described for processing and clearing derivatives products with a binary outcome and having a final settlement based on a triggering event. A computer system configured to process and clear derivative products can accept initial and adjusted performance bonds from buyers and sellers, and adjust the market price of the derivative product at intervals. The market price may be adjusted on a mark-to-market basis and through analysis of other information, e.g., the credit ...

Systems and methods for application processing

Patent Number: 8447678
Publication Date: 2013-05-21
Inventor:

A method of utilizing voice authorization includes providing a processor and receiving demographic information related to an applicant for an insurance policy. The method also includes receiving a voice authentication from the applicant related to the demographic information, receiving, from the applicant, insurance information, and underwriting, using the processor and the insurance information, the insurance policy. The method further includes providing policy information to the ...

Transaction range comparison for financial investigation

Patent Number: 8447677
Publication Date: 2013-05-21
Inventor:

Systems and methods for determining the likelihood that a group of transactions may be structured to avoid a limit or reporting requirement, such as a government reporting requirement, are disclosed. The frequency distributions of a customer's transactions for different value ranges are compared to determine whether transactions within a target range occur randomly or at an unexpected level. In another embodiment, the frequency distribution of a customer's transactions is compared to a ...

Billing support in a media exchange network

Patent Number: 8447676
Publication Date: 2013-05-21
Inventors: ;

A system providing billing support for the exchange of media is disclosed. An embodiment of the present invention may provide for the authorization of and billing for the delivery of media from a media server to local storage for consumption on a television display. The media may be audio, still pictures, video, or data. Other embodiments may provide for the authorization of and billing for the transfer of media from a media peripheral to a media server for media backup or distribution. A ...

Methods and apparatus for recording legal tender decomposition of accounting system entries

Patent Number: 8447675
Publication Date: 2013-05-21
Inventor:

Methods and apparatus for recording decomposition of accounting system entries are disclosed. In one embodiment, one or more processors are employed to perform recording a legal tender value of an accounting system entry and recording a legal tender decomposition of the accounting system ...

Multi-stage filtering for fraud detection with customer history filters

Patent Number: 8447674
Publication Date: 2013-05-21
Inventors: ; ; ; ;

A multi-stage filtering process and system for fraud detection is disclosed. The process includes one or more preliminary filtration stages followed by one or more additional filtration stages that may include customer history filters that provide for enhanced screening for fraudulent activity. Over a plurality of transactions, a portion of the transactions are cleared for processing (e.g., deemed not likely fraudulent or of too low value to continue processing) after each filtration stage. ...

Method and system for efficient funding of gift and reward cards

Patent Number: 8447673
Publication Date: 2013-05-21
Inventor:

A system and method that delays or eliminates the initial funding of cards having a stored or redemptive value. A database or other data storage device stores card identifying information until such time that an actual request for use of the card is made, or until the system otherwise determines that the card has expired. If the system determines that the card has expired prior to a redemption request, the card will not be funded, thereby allowing the merchant to avoid paying financing ...

Universal payment protection

Patent Number: 8447672
Publication Date: 2013-05-21
Inventor:

A system for and method of providing payment protection upon the occurrence of trigger events. The system and method include an account, which may be associated with a credit card or other financial product. An accountholder may select trigger events and associated benefits. Upon the occurrence of a trigger event, the issuing entity will evaluate whether the accountholder is entitled to receive an associated benefit. Each benefit is intended to address at least one payment obligation. For ...

System and method for provider evaluation and claimant direction

Patent Number: 8447671
Publication Date: 2013-05-21
Inventor:

A method and system for evaluating medical service providers, and before or after an initial medical service provider visit by a claimant, determining whether to direct that claimant on subsequent medical service provider visits to a different medical service provider to optimize efficiency of care and minimize cost at the claim ...

Universal payment protection

Patent Number: 8447670
Publication Date: 2013-05-21
Inventor:

System and method for implementing financial assistance programs

Patent Number: 8447669
Publication Date: 2013-05-21
Inventors: ;

A system and method to provide food stamp benefits to recipients. The state agency responsible for distributing food stamp benefits to eligible recipients employs an issuer to produce consumer access devices for distribution to the recipients. The consumer access device is encoded with information enabling the food stamp recipients to purchase specified items from merchants. By imprinting the consumer access device with indicia identifying a commercial payment processing network and ...

Audio-equipped transaction card systems and approaches

Patent Number: 8447668
Publication Date: 2013-05-21
Inventor:

Approaches for using and implementing transactions involving audio-equipped transaction cards reduce both data-management efforts and costs. In addition, certain applications further facilitate loyalty to the business entity that issues the audio-equipped transaction cards by, e.g., facilitating transactions with the card-issuing entity and/or selected business partners. One example embodiment is directed to audio-equipped personal cards and an approach to purchase agreement that involve ...

Methods, systems and articles for facilitating loans using income tax refunds

Patent Number: 8447667
Publication Date: 2013-05-21
Inventors: ; ;

Systems, methods and articles for online computerized methods and systems for facilitating a loan between a borrower and a lender in a financial services system having a loan processing application integrated with a tax return preparation application, in which a lender's tax refund is used to fund the loan. Tax returns are prepared for borrowers and for lenders using the tax return preparation application. The borrowers submits loan request to the system. The system asks lenders having a ...

System and method for associating financial transaction data with user"s project data using a portable electronic device

Patent Number: 8447666
Publication Date: 2013-05-21
Inventor:

This invention relates to a system for viewing and manipulating a user's financial transaction data and a method for associating financial transaction data with a user's project data using a portable electronic ...

Removal of expiring items from inventory

Patent Number: 8447665
Publication Date: 2013-05-21
Inventors: ; ;

Systems and methods for the removal of expiring items from inventory are disclosed. In some embodiments, a method includes determining a breakeven holding time for an inventory item and calculating, based at least in part on a demand forecast for the inventory item and on the breakeven holding time, a first quantity of the inventory item to be removed from the inventory. The method also includes identifying an expiration time corresponding to the given inventory item and, in response to the ...

Method and system for managing inventory by expected profitability

Patent Number: 8447664
Publication Date: 2013-05-21
Inventors: ; ;

A method and system for managing inventory by expected profitability. In one embodiment, a method may include individually evaluating a respective expected profitability for each of a number of inventory items, and individually determining a disposition of each of the number of items dependent upon its respective expected profitability. In one particular implementation of the method, individually evaluating the respective expected profitability of a given item may include forecasting an ...

System and method for an efficient dynamic multi-unit auction

Patent Number: 8447662
Publication Date: 2013-05-21
Inventor:

The present invention implements an auction in which multiple types of goods may be auctioned in a dynamic process. In a preferred embodiment, the present invention is a system and method for computer implemented dynamic multi-unit auction in which the price paid or received by bidders tends to be independent of their own bids, in which participants may be provided with information concerning their competitors' bids as the auction progresses, and in which the confidentiality of high values ...

Electronic bearer bond online transaction system

Patent Number: 8447658
Publication Date: 2013-05-21
Inventor:

An electronic transaction system, comprising bearer bond means for providing an online electronic bearer bond having a monetary value, transaction means for performing monetary transactions with said bearer bond means, and network means for providing user access to said bearer bond means and said transaction ...

Architectural design for service procurement application software

Patent Number: 8447657
Publication Date: 2013-05-21
Inventors: ; ; ; ;

Methods, systems, and apparatus, including computer program products, for implementing a software architecture design for a software application implementing service procurement. The application is structured as multiple process components interacting with each other through service interfaces, and multiple service operations, each being implemented for a respective process component. The process components include a Project Processing process component; a Purchase Request Processing ...

Enhanced network based promotional tracking system

Patent Number: 8447656
Publication Date: 2013-05-21
Inventors: ; ;

A novel communications network tracks and manages Merchant and Affiliate promotional efforts in a seamless, integrated fashion. Operative characteristics include central control over promotional Java-based presentations or similar to be easily applied across a broad network of connected Affiliate sites. The system accomplishes this, in part, by providing a selective API for use in wrapping the promotional links. In accordance with this protocol, these links may be hosted by the ...

Data processing apparatus

Patent Number: 8447655
Publication Date: 2013-05-21
Inventor:

A data processing apparatus capable of transmitting or receiving file data to or from a server, the apparatus comprises a memory which stores file data, a receiver which receives file name data transmitted from the server, a conversion unit which reads from the memory file data which is indicated by the received file name data, and converts the read file data to file data conforming to a format specified by the file name data, and a transmitter which transmits the converted file data to the ...

Determination of customer proximity to a register through use of sound and methods thereof

Patent Number: 8447654
Publication Date: 2013-05-21
Inventors: ;

A method is disclosed for determining a customer's proximity to a checkout register at a store. A mobile electronic device with mobile self-checkout software thereon may record and analyze ambient noise to determine when a customer is in a checkout line as well as to track the customer's progress through the checkout line. The mobile self-checkout software may present information to the customer according to the customer's position in the checkout line. The type and nature of the ...

Discount payment method and system using a temporary card number

Patent Number: 8447647
Publication Date: 2013-05-21
Inventor:

Disclosed is a method and system for making payment with discounted prices using temporary card numbers and temporary card number issue information including at least the discount location selected by a user, discount medium and payment medium. The user's mobile terminal transmits the temporary card number issue information to a temporary card number issue device for generating a temporary card number with the temporary card number information and transmitting the selected temporary card ...

System and method for dynamic product pricing

Patent Number: 8447645
Publication Date: 2013-05-21
Inventor:

Embodiments of the present invention provide a system and method for dynamic product pricing. According to one embodiment, sale characteristics for a plurality of products are stored in a database. A user places a sale order including information associated with a product to be listed on a website, and a market price for the product is calculated based on the stored sale characteristics of the product. The sales characteristics include a queue of current list prices of the product as well ...

Computer-implemented systems and methods for resource allocation

Patent Number: 8447639
Publication Date: 2013-05-21
Inventors: ;

Systems and methods are described for processing queue data and for providing queue messaging over a network. An illustrative queuing system includes a first queue configured to hold resource requests from a plurality of users, and program code stored in computer readable memory configured to determine or estimate whether a resource requested by a first resource request submitted by a first requester will be available when the first resource request will be serviced, and to transmit a ...

Automation of auditing claims

Patent Number: 8447638
Publication Date: 2013-05-21
Inventors: ;

Described are computer-based methods and apparatuses, including computer program products, for automation of auditing claims. A data file is received comprising one or more auditable items, each auditable item comprising a word string having one or more words. Each word string for each auditable item is translated using one or more translation steps into a translated item description. Each translated item description is compared to a plurality of terms to generate matching information. Each ...

System and method for processing data related to insurance coverage for multiple risks

Patent Number: 8447637
Publication Date: 2013-05-21
Inventors: ; ; ; ; ; ; ;

A computer system for processing of data associated with insurance coverage includes a data storage device storing data indicative of: an insured; a maximum benefit amount payable under the insurance coverage; a first category of risks; a second category of risks; a first benefit allocation corresponding to the first category of risks; and a second benefit allocation corresponding to the second category of risks; the benefit allocations being fractions of and totaling the maximum benefit ...

Method and system for processing data relating to investment products having a payment guarantee

Patent Number: 8447636
Publication Date: 2013-05-21
Inventors: ;

A computer system for processing data relating to an investment arrangement having an account value dependent on investment performance and available for withdrawal by an account owner includes a data storage device storing data indicative of a present account value, a withdrawal factor value, a present payment base value, and a guarantee of payments available periodically for a term without reduction of the payment base value; and a processor. The processor is configured to, for periods ...