Allocating partial payment of a transaction amount using an allocation rule

US8458086B2 · 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: Dec 1, 2008
• Grant date: Jun 4, 2013
• Expiry date: Feb 12, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/102
• 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 enables the allocation of a portion or all of a charge or loyalty points to different transaction accounts issued by different issuers, or to sub-accounts.