System and method for automated transaction splitting
US7840457B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 24, 2008 |
| Grant date | Nov 23, 2010 |
| Priority date | — |
| Expiry date | Aug 2, 2028 |
Classification
- Technology area (CPC Y)Emerging Cross-Sectional Technologies
- CPC primaryY10S707/99931
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are provided for automated transaction splitting. A central repository gathers details of multi-category transactions between a first payee (e.g., merchant, investment firm) and one or more users. Each category's proportionate share of the total of the transactions is calculated and used to configure an average or model transaction. When a new transaction is received, it is automatically split among the categories based on the model transaction. Multiple types or tiers of model transactions may be applied. For example, a user-specific model transaction may reflect one specific user's history of transactions with the payee. A community model transaction may reflect multiple users' transactions. Similarly, one type of model transaction may reflect transactions with a single payee, while another type may reflect transactions with related payees (e.g., payees having similar businesses).
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.