System and method for providing a group payment vehicle
US12223474B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 23, 2024 |
| Grant date | Feb 11, 2025 |
| Priority date | — |
| Expiry date | Feb 23, 2044 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/127
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A group payment vehicle and process for establishing and utilizing the group payment vehicle may be utilized to make proxy payments for group members and associate payment mechanisms with the group payment vehicle. The group payment vehicle may be virtual or physical and may be time limited (or have another payment limitation). The group payment vehicle may be a debit-type or credit-type as established by a creator of the group payment vehicle. A system may be configured to enable the creator to invite potential group participants to participate with the group payment vehicle that functions as a single payment mechanism to vendors for an event. The system may limit the group payment vehicle to be time limited, geolocation limited, and/or merchant limited to limit potential financial exposure and fraud.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.