Method and system for processing recurring payments
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United States of America Patent
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Jun 8, 2010
Grant Date -
N/A
app pub date -
Sep 29, 2006
filing date -
Jun 14, 2006
priority date (Note) -
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status (Latency Note)
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Abstract
According to an embodiment of the present invention, a computer implemented method and system for processing payments may involve receiving a payment file from a paying entity; identifying at least one payee from the payment file; identifying a payment amount for the at least one payee for a contribution based on a pre-existing contract between the paying entity and the at least one payee for recurring payments to the at least one payee; identifying a payment method for the at least one payee from a payee profile; and distributing the payment amount via the payment method to the at least one payee; wherein a group manages the recurring payments for the at least one payee.
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