System for executing high-volume electronic bill payments
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United States of America Patent
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N/A
Issued Date -
Aug 28, 2003
app pub date -
Feb 26, 2002
filing date -
Feb 26, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
The present invention is an electronic bill payment system that employs holding accounts, maintained by a collection of banks or a third party, to pay high-volume payees by first making internal funds transfers from payers accounts into holding accounts, and then making funds transfers from holding accounts into the accounts of high-volume payees residing within the same banks.
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