Method for processing internet point of sale payment using automated teller machine switch settlement

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 8190521
APP PUB NO 20110208652A1
SERIAL NO

13102113

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ATTORNEY / AGENT: (SPONSORED)

Importance

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Abstract

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Embodiments of the invention include a method and system for effectuating an electronic payment between a payor and a payee using an Electronic Funds Transfer (EFT) network. The method is implemented by a system having multiple processors. The payor may hold a payor account at a payor institution and the payee may have a payee account at a payee institution. The method includes generating a payment authorization identifying the payee institution, the payee account, and an amount of the payment and transmitting the payment authorization to the payor institution. The method further includes debiting the payor account by the amount of the payment; transmitting from the payor institution to the payee institution through the EFT network an EFT credit message representing a credit in the amount of the payment; and crediting the payee account in the amount of the payment in response to the receipt of the EFT credit message.

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First Claim

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Patent Owner(s)

Patent OwnerAddressTotal Patents
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONNEW YORK, NY1961

International Classification(s)

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  • [Patents Count]

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Burney, Jessica New York, US 16 1505
D'Agostino, Vincent New York, US 21 1588
Hoffman, Adam New York, US 17 1509
O'Leary, Denis New York, US 16 1503
Re, S Richard Westfield, US 18 1519

Cited Art Landscape

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* Cited By Examiner

Patent Citation Ranking

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Patent Info (Count) # Cites Year
 
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (2)
8571975 System and method for sending money via E-mail over the internet 0 1999
8694425 Method and system for processing internet payments using the electronic funds transfer network 1 2012
* Cited By Examiner

Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
7.5 Year Payment $3600.00 $1800.00 $900.00 Nov 29, 2019
11.5 Year Payment $7400.00 $3700.00 $1850.00 Nov 29, 2023
Fee Large entity fee small entity fee micro entity fee
Surcharge - 7.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge - 11.5 year - Late payment within 6 months $160.00 $80.00 $40.00
Surcharge after expiration - Late payment is unavoidable $700.00 $350.00 $175.00
Surcharge after expiration - Late payment is unintentional $1,640.00 $820.00 $410.00