Eileen Johnstone

Title: Eileen Johnstone: Innovator in Real-Time Payment Systems

Introduction

Eileen Johnstone is a notable inventor based in Ventnor, NJ (US), recognized for her contributions to the field of payment systems. With a total of two patents to her name, she has made significant strides in developing innovative solutions for real-time financial transactions.

Latest Patents

Eileen's latest patents focus on systems and methods for real-time trickle payments. The first patent outlines a system that includes a processing circuit designed to receive requests from consumer devices to commission services from suppliers. This system places a financial hold on funds allocated to a supplier's financial account based on the performance terms of a smart contract. It monitors the performance of the requested service and adjusts the financial holds on both consumer and supplier accounts accordingly. The second patent describes a computer-implemented method performed by an access economy payment system. This method involves generating smart contracts and managing consumer and supplier sub-accounts, allowing for real-time adjustments to financial holds based on monitored performance.

Career Highlights

Eileen Johnstone is currently employed at Wells Fargo Bank, N.A., where she applies her expertise in payment systems. Her work has contributed to advancements in how financial transactions are processed in real-time, enhancing the efficiency and reliability of payment systems.

Collaborations

Eileen collaborates with talented professionals such as Michael Knorr and Thomas R. Miller, who contribute to her innovative projects and help drive her research forward.

Conclusion

Eileen Johnstone's work in real-time payment systems showcases her innovative spirit and dedication to improving financial technology. Her patents reflect a commitment to enhancing the efficiency of payment processes, making her a significant figure in the field of innovation.