This inventor holds 2 USPTO granted patents and 5 published patent applications. Top assignees: The Clearing Housse Payments Company L.l.c., Other. Active years: 2011-2019.
Data source: USPTO (United States Patent and Trademark Office) public patent records. Weekly synchronization. How IDiyas builds this profile
Company Filing History:
1 out of 1 
1 out of 834,513 Years Active: 2011-2019
Title: Innovations by Paul Palmese in Electronic Payment Systems
Introduction
Paul Palmese is an accomplished inventor based in Oceanside, NY (US). He has made significant contributions to the field of electronic payment systems, holding 2 patents that enhance the security and efficiency of financial transactions. His innovative methods aim to safeguard banking and account information while utilizing existing payment systems.
Latest Patents
One of Paul Palmese's latest patents is titled "Payment Identification Code and Payment System Using the Same." This method involves generating a system routing number and a payment identification code (PIC) related to the beneficiary's account information. The process includes distributing payment identification codes to financial institutions and ensuring that the originator receives the necessary routing and PIC numbers. The method also outlines how payment instructions are communicated and validated, ensuring that transactions are processed securely and efficiently.
Another aspect of his patent focuses on receiving a payment instruction that includes a payment system routing number and a unique code associated with a payee. This method determines whether the routing number includes information for a specific financial institution and transmits the payment instruction accordingly. If the routing number does not match, the system retrieves account identification information to ensure the payment is directed correctly.
Career Highlights
Throughout his career, Paul Palmese has worked with various companies, including The Clearing House Payments Company LLC. His experience in the financial technology sector has allowed him to develop innovative solutions that address the challenges of electronic payments.
Collaborations
Paul has collaborated with notable individuals in the industry, including George F. Thomas and Albert G. Wood. These partnerships have contributed to the development and refinement of his innovative payment systems.
Conclusion
Paul Palmese's contributions to electronic payment systems demonstrate his commitment to innovation and security in financial transactions. His patents reflect a deep understanding of the complexities involved in safeguarding sensitive information while facilitating efficient payment processes.
Data source: USPTO (United States Patent and Trademark Office) public patent records. Weekly synchronization. How IDiyas builds this profile