Systems and methods for transaction processing and balance transfer processing
US8086524B1 · kind B1 · utility
Inventors
Key dates
| Filing date | Sep 10, 2007 |
| Grant date | Dec 27, 2011 |
| Priority date | — |
| Expiry date | Aug 28, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
One embodiment of the present invention relates to a computer implemented method for transaction processing that includes: transacting for a first and a second transactions for at least one of: a purchase; and a cash advance; sending requests for authorization of the first and second transactions; declining, by a primary lender, the requests for authorization; evaluating the declined requests for authorization by a secondary lender; authorizing, by the secondary lender, the declined requests for authorization in the form of authorization approvals; communicating the authorization approvals by the primary lender; posting the transactions to a balance sheet of the secondary lender in the form of amounts due to the primary lender; funding the transactions by the primary lender; summing up one or more debits and one or more credits of the posted transactions of the secondary lender; and settling any amounts due between the primary and secondary lenders.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.