US Patent No: 8,190,521

Number of patents in Portfolio can not be more than 2000

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

ALSO PUBLISHED AS: 20110208652

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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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Related Publications

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Patent Owner(s)

Patent OwnerAddressTotal Patents
JPMORGAN CHASE BANK, N.A.NEW YORK, NY2385

International Classification(s)

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  • [Patents Count]

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Burney, Jessica New York, NY 28 1273
D'Agostino, Vincent Westport, CT 33 1347
Hoffman, Adam New York, NY 29 1275
O'Leary, Denis New York, NY 27 1272
Re, S Richard Westfield, NJ 29 1287

Cited Art Landscape

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Other [Check patent profile for assignment information] (3)
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Patent Citation Ranking

Forward Cite Landscape

Patent Info (Count) # Cites Year
 
JPMORGAN CHASE BANK, N.A. (2)
8,571,975 System and method for sending money via E-mail over the internet 0 1999
8,694,425 Method and system for processing internet payments using the electronic funds transfer network 0 2012

Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
3.5 Year Payment $1600.00 $800.00 $400.00 Nov 29, 2015
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 - 3.5 year - Late payment within 6 months $160.00 $80.00 $40.00
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