Systems and methods for facilitating transactions with interest

US8234212B2 · kind B2 · utility

Assignee

• Lead Core Fund, L.L.C. · US

Inventors

• Fred Bishop · Glendale, US
• Bansi L. Sharma · New York, US
• Tracey R. Thomas · New York, US

Key dates

• Filing date: Sep 30, 2008
• Grant date: Jul 31, 2012
• Expiry date: Mar 8, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.