This inventor holds 1 USPTO granted patent. Top assignee: Citicorp Development Center, Inc.. Active years: 2005.
Company Filing History:
Years Active: 2005
Title: Coleman Hanover: Innovator in Electronic Scrip Transactions
Introduction
Coleman Hanover is a notable inventor based in Westpoint, MA (US). He has made significant contributions to the field of electronic transactions, particularly through his innovative patent that enhances the efficiency of scrip transactions.
Latest Patents
Hanover holds a patent for a "System and method for automated electronic scrip transactions." This invention provides a comprehensive system for performing and settling electronic scrip transactions between merchants and members. The system includes a database that stores accounts for participating merchants, scrip distributors, sponsoring organizations, and members. It features interconnected terminals for merchants, scrip distributors, sponsoring organizations, and a system manager, all linked over a network. The member's scrip card, which can be a magnetic stripe card or a smart card, facilitates the transaction process. Transaction details, including the amount, are entered at the merchant terminal and sent through the network to the appropriate terminals. The system automatically debits the member's account and credits the merchant's account, along with loyalty points or tuition credits as applicable.
Career Highlights
Coleman Hanover is associated with Citicorp Development Center, Inc., where he has contributed to the development of innovative financial solutions. His work has focused on improving transaction processes and enhancing user experience in electronic payments.
Collaborations
Hanover has worked alongside notable colleagues such as Joseph C. Kawan and Melvin Michio Takata, contributing to a collaborative environment that fosters innovation and development in electronic transaction systems.
Conclusion
Coleman Hanover's contributions to the field of electronic scrip transactions demonstrate his commitment to innovation and efficiency in financial technology. His patent reflects a significant advancement in how electronic transactions are conducted, benefiting both merchants and consumers.