Real time bank-centric universal payment system

US6594647B1 · kind B1 · utility

Assignees

• HUNTINGTON BANCSHARES INCORPORATED · US
• Hewlett-Packard Company, L.P. · US

Inventors

• William M. Randle · Bexley, US
• Richard Ercole · Westerville, US
• Terry L. Geer · Baltimore, US
• David L. James · Fresno, US
• Jodie M. Fredelake · Columbus, US
• Dennis Roman · Novato, US
• Fabio Fontana · Mountain View, US
• Rick Bartlett · Saratoga, US
• Ruth Rosenberg · Lafayette, US
• Robert Murphy · Lafayette, US
• Tuong T. Tran · Mountain View, US
• Paul Lampru · Roswell, US

Key dates

• Filing date: Sep 19, 2000
• Grant date: Jul 15, 2003
• Expiry date: Sep 19, 2020

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q50/188
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An infrastructure for a real time bank-centric universal payment system (2) in which a central processing system (CPU) defines an electronic commerce trust system (1) formed from a plurality of financial service provider members (4) subscribing to a common standard having applicability throught the infrastructure. The central processing unit is operatively interconnected to the correspondent processing units of financial service provider members (4) that in turn are operatively interconnected through access mechanisms to a network of customers (3) and goods and services providers (5) who are account subscribers with the financial service provider member (4) and subject to the common standard of the system. The CPU provides non-revocable real time debit and credit transactions and effects net settlement between and among members through a central exchange monetary system. Features of the infrastructure include ECTS hot file, bill presentment and payment options and provider designed services that enhance brand identity.